SPTU vs. HYHG
SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) and HYHG (ProShares High Yield-Interest Rate Hedged) are both exchange-traded funds - SPTU is a Ultrashort Bond fund tracking the ICE BofA US Treasury Bill Index, while HYHG is a High Yield Bonds fund tracking the Citi High Yield (Treasury Rate-Hedged) Index. Both are passively managed. Their -0.06 correlation means they have often moved in opposite directions in the past. SPTU charges 0.05%/yr vs 0.50%/yr for HYHG.
Performance
SPTU vs. HYHG - Performance Comparison
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Returns By Period
In the year-to-date period, SPTU achieves a 2.11% return, which is significantly lower than HYHG's 4.07% return.
SPTU
- 1D
- 0.04%
- 1M
- 0.32%
- 6M
- 1.82%
- YTD
- 2.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
HYHG
- 1D
- 0.32%
- 1M
- 0.25%
- 6M
- 2.95%
- YTD
- 4.07%
- 1Y
- 7.70%
- 3Y*
- 8.94%
- 5Y*
- 7.14%
- 10Y*
- 6.15%
- ALL TIME*
- 4.26%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.06M | $1.52M | $1.17M | |
| $29.52K | $31.42K | $66.34K |
SPTU vs. HYHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF | 2.11% | 0.87% |
HYHG ProShares High Yield-Interest Rate Hedged | 4.07% | 0.91% |
Correlation
The correlation between SPTU and HYHG is -0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 8, 2025 | -0.06 |
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Return for Risk
SPTU vs. HYHG — Risk / Return Rank
SPTU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYHG
SPTU vs. HYHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU) and ProShares High Yield-Interest Rate Hedged (HYHG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SPTU | HYHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.22 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.38 | — |
| Martin ratioReturn relative to average drawdown | — | 11.30 | — |
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Drawdowns
SPTU vs. HYHG - Drawdown Comparison
The maximum SPTU drawdown since its inception was -0.04%, smaller than the maximum HYHG drawdown of -25.71%. Use the drawdown chart below to compare losses from any high point for SPTU and HYHG.
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Drawdown Indicators
| SPTU | HYHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.04% | -25.71% | +25.67% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.02% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.47% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.21% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.71% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.14% | +0.14% |
Average DrawdownAverage peak-to-trough decline | 0.00% | -3.01% | +3.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.61% | — |
Volatility
SPTU vs. HYHG - Volatility Comparison
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Volatility by Period
| SPTU | HYHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.31% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.96% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.32% | 5.64% | -5.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.32% | 8.17% | -7.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.32% | 9.06% | -8.74% |
SPTU vs. HYHG - Expense Ratio Comparison
SPTU has a 0.05% expense ratio, which is lower than HYHG's 0.50% expense ratio.
Dividends
SPTU vs. HYHG - Dividend Comparison
SPTU's dividend yield for the trailing twelve months is around 2.65%, less than HYHG's 6.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 6.14% | 6.97% | 6.57% | 6.07% | 5.58% | 4.54% | 5.21% | 6.06% | 6.45% | 5.57% | 5.37% | 6.37% |
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF | 2.65% | 0.89% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPTU and HYHG have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPTU is cheaper with a 0.05% expense ratio, compared with 0.50% for HYHG.
HYHG has the higher dividend yield at 6.14%, compared with 2.65% for SPTU.
SPTU is categorized as Ultrashort Bond, while HYHG is High Yield Bonds. SPTU tracks ICE BofA US Treasury Bill Index, while HYHG tracks Citi High Yield (Treasury Rate-Hedged) Index. They also come from different issuers: State Street and ProShares. Their fees differ too: 0.05% for SPTU and 0.50% for HYHG.
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