CGHY vs SPY
Capital Group High Yield Bond ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | CGHY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.39% | 0.09% | |
| AUM | $126M | $821.1B | |
| Dividend Yield | 5.50% | 1.01% | |
| Holdings | 202 | 505 | |
| YTD Return | +2.48% | +12.22% | |
| 1Y Return | +5.57% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 2.2% | 15.3% | |
| Max Drawdown | -2.4% | -56.5% | |
| Fund Family | Capital Group (US) | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jun 24, 2025 | Jan 22, 1993 |
CGHY vs SPY Performance
Capital Group High Yield Bond ETF (CGHY) is a ETF from Capital Group (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CGHY returned +5.57% while SPY returned +20.83%. Year to date, CGHY is up 2.48% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 2.2% for CGHY. 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 -2.4% for CGHY and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CGHY charges 0.39% per year while SPY charges 0.09%. On a $10,000 position that is $39 vs $9 annually, a gap of $30 per year that compounds over a long holding period. On income, CGHY currently yields 5.50% against 1.01% for SPY.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, CGHY or SPY?
CGHY has an expense ratio of 0.39% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $30 per year of difference.
Which performed better, CGHY or SPY?
Over the past year CGHY returned +5.57% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), CGHY annualized +5.48% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, CGHY or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 2.2% for CGHY. Worst drawdown: CGHY -2.4% vs SPY -56.5%.
Should I hold both CGHY and SPY?
CGHY and SPY have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CGHY and SPY?
CGHY and SPY share 2 common holdings with a 0.1% weight overlap. Combined, they hold 719 unique securities.
Which pays a higher dividend, CGHY or SPY?
CGHY yields 5.50% while SPY yields 1.01%, so CGHY currently pays the higher dividend yield.
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