BGH vs SPY
Barings Global Short Duration High Yield Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, BGH or SPY?
High Yield Bond against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BGH | SPY |
|---|---|---|
| Expense Ratio | 3.88% | 0.09%Best |
| AUM | $300M | $804.7B |
| Dividend Yield | 9.82% | 0.98% |
| Holdings | 248 | 505 |
| YTD Return | -2.03% | +12.09%Best |
| 1Y Return | -9.25% | +16.29%Best |
| 3Y Return (annualized) | +12.59% | +21.20%Best |
| 5Y Return (annualized) | +6.19% | +13.37%Best |
| Volatility (annualized) | 15.9% | 14.2%Best |
| Max Drawdown | -63.8% | -34.1%Best |
| $10,000 over 5 years | $13,503 | $18,728Best |
| Fund Family | Barings | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | High Yield Bond | Large Cap Blend |
| Inception | Oct 26, 2012 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Oct 26, 2012 to Sep 18, 2026 (13.9 years).
BGH vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
BGH vs SPY Performance
Barings Global Short Duration High Yield Fund (BGH) is an ETF from Barings and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year BGH returned -9.25% while SPY returned +16.29%. Year to date, BGH is down 2.03% versus a gain of 12.09% for SPY.
Over three years, BGH compounded at +12.59% per year against +21.20% for SPY; over five years the annualized figures are +6.19% and +13.37% respectively. Across the full 14-year window we track, SPY has the edge at +13.49% annualized vs -0.33%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BGH has been the more volatile fund, with annualized monthly volatility of 15.9% compared with 14.2% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -63.8% for BGH and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.68. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BGH charges 3.88% per year while SPY charges 0.09%. On a $10,000 position that is $388 vs $9 annually, a gap of $379 per year that compounds over a long holding period. On income, BGH currently yields 9.82% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 107 holdings in BGH and 504 in SPY, totalling 59.3% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 336 days apart, BGH as of Sep 30, 2025 and SPY as of Sep 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 107 positions we hold weights for in BGH and 504 in SPY, against full books of 248 and 505.
You are not choosing between two funds in isolation.
Whichever of BGH and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BGH or SPY?
BGH has an expense ratio of 3.88% while SPY charges 0.09%. SPY is the cheaper option, by $379 a year on a $10,000 investment.
Which performed better, BGH or SPY?
Over the past year BGH returned -9.25% vs +16.29% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (14 years), BGH annualized -0.33% vs +13.49% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BGH or SPY?
BGH has been the more volatile fund at 15.9% annualized versus 14.2% for SPY. Worst drawdown: BGH -63.8% vs SPY -34.1%.
Should I hold both BGH and SPY?
BGH and SPY have a monthly-return correlation of 0.68, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BGH or SPY?
BGH yields 9.82% while SPY yields 0.98%, so BGH currently pays the higher dividend yield.
Is SPY better than BGH?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.