USHY vs. SPHY
Compare and contrast key facts about iShares Broad USD High Yield Corporate Bond ETF (USHY) and SPDR Portfolio High Yield Bond ETF (SPHY).
USHY and SPHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. USHY is a passively managed fund by iShares that tracks the performance of the ICE BofA US High Yield Constrained. It was launched on Oct 25, 2017. SPHY is a passively managed fund by State Street that tracks the performance of the ICE BofAML US High Yield Index. It was launched on Jun 18, 2012. Both USHY and SPHY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: USHY or SPHY.
Key characteristics
| USHY | SPHY | |
|---|---|---|
| YTD Return | 8.20% | 8.31% |
| 1Y Return | 13.20% | 13.56% |
| 3Y Return (Ann) | 3.01% | 3.29% |
| 5Y Return (Ann) | 4.30% | 4.76% |
| Sharpe Ratio | 3.09 | 3.09 |
| Sortino Ratio | 4.85 | 4.86 |
| Omega Ratio | 1.62 | 1.62 |
| Calmar Ratio | 3.03 | 3.43 |
| Martin Ratio | 23.62 | 24.42 |
| Ulcer Index | 0.57% | 0.56% |
| Daily Std Dev | 4.34% | 4.40% |
| Max Drawdown | -22.44% | -21.97% |
| Current Drawdown | -0.67% | -0.63% |
Correlation
The correlation between USHY and SPHY is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
USHY vs. SPHY - Performance Comparison
The year-to-date returns for both investments are quite close, with USHY having a 8.20% return and SPHY slightly higher at 8.31%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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USHY vs. SPHY - Expense Ratio Comparison
USHY has a 0.15% expense ratio, which is higher than SPHY's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
USHY vs. SPHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD High Yield Corporate Bond ETF (USHY) and SPDR Portfolio High Yield Bond ETF (SPHY). 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.
Dividends
USHY vs. SPHY - Dividend Comparison
USHY's dividend yield for the trailing twelve months is around 6.70%, less than SPHY's 7.79% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.70% | 6.62% | 6.08% | 5.07% | 5.31% | 5.91% | 6.30% | 0.73% | 0.00% | 0.00% | 0.00% | 0.00% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.79% | 7.30% | 6.46% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.28% | 4.29% | 3.98% | 4.40% |
Drawdowns
USHY vs. SPHY - Drawdown Comparison
The maximum USHY drawdown since its inception was -22.44%, roughly equal to the maximum SPHY drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for USHY and SPHY. For additional features, visit the drawdowns tool.
Volatility
USHY vs. SPHY - Volatility Comparison
iShares Broad USD High Yield Corporate Bond ETF (USHY) and SPDR Portfolio High Yield Bond ETF (SPHY) have volatilities of 1.06% and 1.09%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.