CGHY vs SPY
Capital Group High Yield Bond ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, CGHY or SPY?
High Yield Bond against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y 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 | CGHY | SPY |
|---|---|---|
| Expense Ratio | 0.39% | 0.09%Best |
| AUM | $134M | $804.7B |
| Dividend Yield | 5.48% | 0.98% |
| Holdings | 699 | 505 |
| YTD Return | +1.61% | +11.52%Best |
| 1Y Return | +3.33% | +17.48%Best |
| 3Y Return (annualized) | - | +20.62% |
| 5Y Return (annualized) | - | +12.73% |
| Volatility (annualized) | 2.4%Best | 12.0% |
| Max Drawdown | -2.4%Best | -8.9% |
| $10,000 over 1.2 years | $10,539 | $12,505Best |
| Fund Family | Capital Group (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | High Yield Bond | Large Cap Blend |
| Inception | Jun 24, 2025 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jun 26, 2025 to Sep 10, 2026 (1.2 years).
CGHY 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 covers the 1.2 years both funds cover.
CGHY vs SPY Performance
Capital Group High Yield Bond ETF (CGHY) is an ETF from Capital Group (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CGHY returned +3.33% while SPY returned +17.48%. Year to date, CGHY is up 1.61% versus a gain of 11.52% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.0% compared with 2.4% 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 -8.9% 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 0.80. 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 5.48% against 0.98% for SPY.
Holdings Overlap
At least 0.1% of SPY's money is in holdings CGHY also owns.
Stated as a floor: for CGHY, our book for it covers 66.6% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
2 positions in common, counted across the 218 positions we hold weights for in CGHY and 504 in SPY, against full books of 699 and 505.
You are not choosing between two funds in isolation.
Whichever of CGHY 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, CGHY or SPY?
CGHY has an expense ratio of 0.39% while SPY charges 0.09%. SPY is the cheaper option, by $30 a year on a $10,000 investment.
Which performed better, CGHY or SPY?
Over the past year CGHY returned +3.33% vs +17.48% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), CGHY annualized +4.47% vs +20.48% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CGHY or SPY?
SPY has been the more volatile fund at 12.0% annualized versus 2.4% for CGHY. Worst drawdown: CGHY -2.4% vs SPY -8.9%.
Should I hold both CGHY and SPY?
CGHY and SPY have a monthly-return correlation of 0.80, 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, CGHY or SPY?
CGHY yields 5.48% while SPY yields 0.98%, so CGHY currently pays the higher dividend yield.
Is SPY better than CGHY?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.