VWEAX vs. SPHY
Compare and contrast key facts about Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) and SPDR Portfolio High Yield Bond ETF (SPHY).
VWEAX is managed by Vanguard. It was launched on Nov 12, 2001. 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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VWEAX or SPHY.
Key characteristics
| VWEAX | SPHY | |
|---|---|---|
| YTD Return | 6.09% | 8.50% |
| 1Y Return | 11.49% | 13.50% |
| 3Y Return (Ann) | 2.83% | 3.35% |
| 5Y Return (Ann) | 3.79% | 4.80% |
| 10Y Return (Ann) | 4.51% | 4.56% |
| Sharpe Ratio | 3.46 | 3.25 |
| Sortino Ratio | 5.98 | 5.20 |
| Omega Ratio | 1.90 | 1.66 |
| Calmar Ratio | 3.76 | 3.66 |
| Martin Ratio | 22.38 | 26.42 |
| Ulcer Index | 0.56% | 0.56% |
| Daily Std Dev | 3.63% | 4.52% |
| Max Drawdown | -30.03% | -21.97% |
| Current Drawdown | -0.57% | -0.46% |
Correlation
The correlation between VWEAX and SPHY is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
VWEAX vs. SPHY - Performance Comparison
In the year-to-date period, VWEAX achieves a 6.09% return, which is significantly lower than SPHY's 8.50% return. Both investments have delivered pretty close results over the past 10 years, with VWEAX having a 4.51% annualized return and SPHY not far ahead at 4.56%. 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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VWEAX vs. SPHY - Expense Ratio Comparison
VWEAX has a 0.13% 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
VWEAX vs. SPHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) 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
VWEAX vs. SPHY - Dividend Comparison
VWEAX's dividend yield for the trailing twelve months is around 6.10%, less than SPHY's 7.78% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares | 6.10% | 5.79% | 5.20% | 4.24% | 4.72% | 5.32% | 6.10% | 5.42% | 5.49% | 5.99% | 5.71% | 5.89% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.78% | 7.30% | 6.46% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.28% | 4.29% | 3.98% | 4.40% |
Drawdowns
VWEAX vs. SPHY - Drawdown Comparison
The maximum VWEAX drawdown since its inception was -30.03%, which is greater than SPHY's maximum drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for VWEAX and SPHY. For additional features, visit the drawdowns tool.
Volatility
VWEAX vs. SPHY - Volatility Comparison
The current volatility for Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) is 0.69%, while SPDR Portfolio High Yield Bond ETF (SPHY) has a volatility of 1.14%. This indicates that VWEAX experiences smaller price fluctuations and is considered to be less risky than SPHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.