YLD vs. SPY
YLD (Principal Active High Yield ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - YLD is a High Yield Bonds fund actively managed by Principal, while SPY is a S&P 500 fund tracking the S&P 500 Index. YLD is actively managed, while SPY is passively managed. Over the past 10 years, YLD returned 5.76%/yr vs 15.70%/yr for SPY. At a 0.49 correlation, their price movements are largely independent. YLD charges 0.39%/yr vs 0.09%/yr for SPY.
Performance
YLD vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, YLD achieves a 3.27% return, which is significantly lower than SPY's 9.74% return. Over the past 10 years, YLD has underperformed SPY with an annualized return of 5.76%, while SPY has yielded a comparatively higher 15.70% annualized return.
YLD
- 1D
- -0.05%
- 1M
- 0.84%
- YTD
- 3.27%
- 6M
- 3.45%
- 1Y
- 7.14%
- 3Y*
- 9.07%
- 5Y*
- 4.91%
- 10Y*
- 5.76%
SPY
- 1D
- -0.31%
- 1M
- 0.09%
- YTD
- 9.74%
- 6M
- 9.27%
- 1Y
- 26.65%
- 3Y*
- 21.27%
- 5Y*
- 13.51%
- 10Y*
- 15.70%
YLD vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YLD Principal Active High Yield ETF | 3.27% | 6.55% | 9.19% | 12.93% | -8.78% | 9.17% | 1.50% | 13.58% | -3.30% | 9.12% |
SPY State Street SPDR S&P 500 ETF | 9.74% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between YLD and SPY is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2015 | 0.49 |
The correlation between YLD and SPY shifts across timeframes, from 0.49 (all time) to 0.65 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
YLD vs. SPY — Risk / Return Rank
YLD
SPY
YLD vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Active High Yield ETF (YLD) 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.
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.
| YLD | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.39 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.63 | 3.01 | +0.61 |
| Martin ratioReturn relative to average drawdown | 12.43 | 13.54 | -1.10 |
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Drawdowns
YLD vs. SPY - Drawdown Comparison
The maximum YLD drawdown since its inception was -28.34%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for YLD and SPY.
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Drawdown Indicators
| YLD | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.34% | -55.19% | +26.85% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -8.88% | +6.90% |
Max Drawdown (3Y)Largest decline over 3 years | -5.62% | -18.76% | +13.14% |
Max Drawdown (5Y)Largest decline over 5 years | -13.89% | -24.50% | +10.61% |
Max Drawdown (10Y)Largest decline over 10 years | -28.34% | -33.72% | +5.38% |
Current DrawdownCurrent decline from peak | -0.08% | -1.75% | +1.67% |
Average DrawdownAverage peak-to-trough decline | -2.69% | -9.04% | +6.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 1.97% | -1.39% |
Volatility
YLD vs. SPY - Volatility Comparison
The current volatility for Principal Active High Yield ETF (YLD) is 1.05%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 4.64%. This indicates that YLD 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
| YLD | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 4.64% | -3.59% |
Volatility (6M)Calculated over the trailing 6-month period | 3.50% | 9.75% | -6.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 12.43% | -8.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 17.14% | -10.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.20% | 17.99% | -9.79% |
YLD vs. SPY - Expense Ratio Comparison
YLD has a 0.39% expense ratio, which is higher than SPY's 0.09% expense ratio.
Dividends
YLD vs. SPY - Dividend Comparison
YLD's dividend yield for the trailing twelve months is around 7.24%, more than SPY's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPY State Street SPDR S&P 500 ETF | 1.01% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
YLD Principal Active High Yield ETF | 7.24% | 7.33% | 7.12% | 6.46% | 6.51% | 3.92% | 4.40% | 4.81% | 5.42% | 6.28% | 4.47% | 2.56% |
Frequently Asked Questions
YLD and SPY have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPY has higher volatility (4.64%) compared to YLD (1.05%). In terms of maximum drawdown, YLD dropped -28.34% vs SPY's -55.19%.
On 10-year performance, SPY leads with 15.70% vs 5.76% for YLD. On fees, SPY is cheaper at 0.09% per year. On volatility, YLD has been the lower-risk option at 1.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPY has performed better with a 15.70% return vs 5.76%. 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 0.39% for YLD.
YLD has the higher dividend yield at 7.24%, compared with 1.01% for SPY.
YLD is categorized as High Yield Bonds, while SPY is S&P 500. They also come from different issuers: Principal and State Street. Their fees differ too: 0.39% for YLD and 0.09% for SPY.
SPY currently has the higher Sharpe Ratio (2.16 vs 1.64), 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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