XHYF vs. SPY
XHYF (BondBloxx US High Yield Financial & REIT Sector ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - XHYF is a High Yield Bonds fund tracking the ICE Diversified US Cash Pay High Yield Financial & REIT, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 3 years, XHYF returned 9.29%/yr vs 22.35%/yr for SPY. A 0.65 correlation means they provide meaningful diversification when combined. XHYF charges 0.35%/yr vs 0.09%/yr for SPY.
Performance
XHYF vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, XHYF achieves a -0.10% return, which is significantly lower than SPY's 10.91% return.
XHYF
- 1D
- 0.00%
- 1M
- -0.31%
- YTD
- -0.10%
- 6M
- 0.47%
- 1Y
- 5.05%
- 3Y*
- 9.29%
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- -0.70%
- 1M
- 5.05%
- YTD
- 10.91%
- 6M
- 10.91%
- 1Y
- 27.98%
- 3Y*
- 22.35%
- 5Y*
- 13.83%
- 10Y*
- 15.49%
XHYF vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XHYF BondBloxx US High Yield Financial & REIT Sector ETF | -0.10% | 8.69% | 8.65% | 13.29% | -7.22% |
SPY State Street SPDR S&P 500 ETF | 10.91% | 17.72% | 24.89% | 26.18% | -11.08% |
Correlation
The correlation between XHYF and SPY is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022 | 0.65 |
The correlation between XHYF and SPY shifts across timeframes, from 0.53 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XHYF vs. SPY — Risk / Return Rank
XHYF
SPY
XHYF vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx US High Yield Financial & REIT Sector ETF (XHYF) and State Street SPDR S&P 500 ETF (SPY). 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.
| XHYF | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.43 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 3.16 | -1.45 |
| Martin ratioReturn relative to average drawdown | 7.44 | 14.72 | -7.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XHYF | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 2.38 | -0.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.82 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 0.59 | +0.15 |
Drawdowns
XHYF vs. SPY - Drawdown Comparison
The maximum XHYF drawdown since its inception was -12.92%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for XHYF and SPY.
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Drawdown Indicators
| XHYF | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.92% | -55.19% | +42.27% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -8.88% | +5.66% |
Max Drawdown (3Y)Largest decline over 3 years | -4.19% | -18.76% | +14.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -0.61% | -0.70% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -9.05% | +6.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 1.91% | -1.17% |
Volatility
XHYF vs. SPY - Volatility Comparison
The current volatility for BondBloxx US High Yield Financial & REIT Sector ETF (XHYF) is 0.94%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 2.84%. This indicates that XHYF experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XHYF | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 2.84% | -1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 2.58% | 8.90% | -6.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.52% | 11.83% | -8.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.14% | 17.05% | -9.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.14% | 17.94% | -10.80% |
XHYF vs. SPY - Expense Ratio Comparison
XHYF has a 0.35% expense ratio, which is higher than SPY's 0.09% expense ratio.
Dividends
XHYF vs. SPY - Dividend Comparison
XHYF's dividend yield for the trailing twelve months is around 6.27%, more than SPY's 0.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPY State Street SPDR S&P 500 ETF | 0.98% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
XHYF BondBloxx US High Yield Financial & REIT Sector ETF | 6.27% | 6.73% | 7.11% | 7.00% | 5.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XHYF and SPY have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPY has higher volatility (2.84%) compared to XHYF (0.94%). In terms of maximum drawdown, XHYF dropped -12.92% vs SPY's -55.19%.
On 3-year performance, SPY leads with 22.35% vs 9.29% for XHYF. On fees, SPY is cheaper at 0.09% per year. On volatility, XHYF has been the lower-risk option at 0.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SPY has performed better with a 22.35% return vs 9.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPY is cheaper with a 0.09% expense ratio, compared with 0.35% for XHYF.
XHYF has the higher dividend yield at 6.27%, compared with 0.98% for SPY.
XHYF is categorized as High Yield Bonds, while SPY is S&P 500. XHYF tracks ICE Diversified US Cash Pay High Yield Financial & REIT, while SPY tracks S&P 500 Index. They also come from different issuers: BondBloxx and State Street. Their fees differ too: 0.35% for XHYF and 0.09% for SPY.
SPY currently has the higher Sharpe Ratio (2.38 vs 1.57), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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