EUHY vs SPY
iShares Euro High Yield Corporate Bond USD Hedged 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 | EUHY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.09% | |
| AUM | $251M | $821.1B | |
| Dividend Yield | 5.75% | 1.01% | |
| Holdings | 403 | 505 | |
| YTD Return | -0.01% | +12.22% | |
| 1Y Return | -2.83% | +20.83% | |
| 3Y Return (annualized) | +4.19% | +21.70% | |
| 5Y Return (annualized) | -0.85% | +12.98% | |
| Volatility (annualized) | 10.9% | 15.3% | |
| Max Drawdown | -36.3% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Apr 3, 2012 | Jan 22, 1993 |
EUHY vs SPY Performance
iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EUHY returned -2.83% while SPY returned +20.83%. Year to date, EUHY is down 0.01% versus a gain of 12.22% for SPY.
Over three years, EUHY compounded at +4.19% per year against +21.70% for SPY; over five years the annualized figures are -0.85% and +12.98% respectively. Across the full 14-year window we track, SPY has the edge at +8.79% annualized vs +0.47%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 10.9% for EUHY. 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 -36.3% for EUHY 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 0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EUHY charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, EUHY currently yields 5.75% against 1.01% for SPY.
Holdings Overlap
EUHY and SPY share 0 holdings out of 505 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EUHY or SPY?
EUHY has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, EUHY or SPY?
Over the past year EUHY returned -2.83% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (14 years), EUHY annualized +0.47% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, EUHY or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 10.9% for EUHY. Worst drawdown: EUHY -36.3% vs SPY -56.5%.
Should I hold both EUHY and SPY?
EUHY and SPY have a monthly-return correlation of 0.66, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EUHY and SPY?
EUHY and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, EUHY or SPY?
EUHY yields 5.75% while SPY yields 1.01%, so EUHY currently pays the higher dividend yield.
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