HYT vs SPY
Blackrock Corporate High Yield Fund Inc. vs State Street SPDR S&P 500 ETF Trust
Which is better, HYT 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. HYT is less concentrated, with 10.2% of the fund in its ten largest positions against 37.8%.
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 | HYT | SPY |
|---|---|---|
| Expense Ratio | 3.35% | 0.09%Best |
| AUM | $1.8B | $804.7B |
| Dividend Yield | 10.26% | 0.98% |
| Holdings | 1,211 | 505 |
| YTD Return | -1.98% | +11.97%Best |
| 1Y Return | -7.23% | +16.40%Best |
| 3Y Return (annualized) | +6.22% | +21.10%Best |
| 5Y Return (annualized) | +1.05% | +12.88%Best |
| Volatility (annualized) | 14.0%Best | 14.5% |
| Max Drawdown | -67.6% | -56.5%Best |
| $10,000 over 5 years | $10,536 | $18,327Best |
| Top 10 Weight | 10.2%Best | 37.8% |
| Fund Family | BlackRock, Inc. (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | High Yield Bond | Large Cap Blend |
| Inception | May 30, 2003 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: May 28, 2003 to Sep 14, 2026 (23.3 years).
HYT 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.
HYT vs SPY Performance
Blackrock Corporate High Yield Fund Inc. (HYT) is an ETF from BlackRock, Inc. (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year HYT returned -7.23% while SPY returned +16.40%. Year to date, HYT is down 1.98% versus a gain of 11.97% for SPY.
Over three years, HYT compounded at +6.22% per year against +21.10% for SPY; over five years the annualized figures are +1.05% and +12.88% respectively. Across the full 23-year window we track, SPY has the edge at +9.66% annualized vs -0.35%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.5% compared with 14.0% for HYT. 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 -67.6% for HYT and -56.5% 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 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HYT charges 3.35% per year while SPY charges 0.09%. On a $10,000 position that is $335 vs $9 annually, a gap of $326 per year that compounds over a long holding period. On income, HYT currently yields 10.26% against 0.98% for SPY.
Holdings Overlap
0.9% of HYT's money is in holdings SPY also owns. 0.5% of SPY's money is in holdings HYT also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
The two holdings books were reported 244 days apart, HYT as of Dec 31, 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.
4 positions in common, counted across the 717 positions we hold weights for in HYT and 504 in SPY, against full books of 1,211 and 505.
What only one of them owns
Our book lists 493 positions for SPY that do not appear in our book for HYT (98.9% of the fund), and 699 for HYT that do not appear in SPY (96.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of HYT 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, HYT or SPY?
HYT has an expense ratio of 3.35% while SPY charges 0.09%. SPY is the cheaper option, by $326 a year on a $10,000 investment.
Which performed better, HYT or SPY?
Over the past year HYT returned -7.23% vs +16.40% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (23 years), HYT annualized -0.35% vs +9.66% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HYT or SPY?
SPY has been the more volatile fund at 14.5% annualized versus 14.0% for HYT. Worst drawdown: HYT -67.6% vs SPY -56.5%.
Should I hold both HYT and SPY?
HYT and SPY have a monthly-return correlation of 0.72, 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, HYT or SPY?
HYT yields 10.26% while SPY yields 0.98%, so HYT currently pays the higher dividend yield.
Is SPY better than HYT?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. HYT is less concentrated, with 10.2% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.