HYZD vs SPY
WisdomTree Interest Rate Hedged High Yield Bond Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns.
Side-by-Side Comparison
| Metric | HYZD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.43% | 0.09% | |
| AUM | $273M | $821.1B | |
| Dividend Yield | 5.90% | 1.01% | |
| Holdings | 505 | 505 | |
| YTD Return | +3.85% | +12.68% | |
| 1Y Return | +6.95% | +21.82% | |
| 3Y Return (annualized) | +8.46% | +21.98% | |
| 5Y Return (annualized) | +6.31% | +12.89% | |
| Volatility (annualized) | 7.7% | 15.3% | |
| Max Drawdown | -33.1% | -56.5% | |
| Fund Family | WisdomTree Investments | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Dec 18, 2013 | Jan 22, 1993 |
HYZD vs SPY Performance
WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) is a ETF from WisdomTree Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year HYZD returned +6.95% while SPY returned +21.82%. Year to date, HYZD is up 3.85% versus a gain of 12.68% for SPY.
Over three years, HYZD compounded at +8.46% per year against +21.98% for SPY; over five years the annualized figures are +6.31% and +12.89% respectively. Across the full 13-year window we track, SPY has the edge at +8.81% annualized vs +1.60%. 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 7.7% for HYZD. 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 -33.1% for HYZD 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 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HYZD charges 0.43% per year while SPY charges 0.09%. On a $10,000 position that is $43 vs $9 annually, a gap of $34 per year that compounds over a long holding period. On income, HYZD currently yields 5.90% against 1.01% for SPY.
Holdings Overlap
HYZD and SPY share 0 holdings out of 890 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, HYZD or SPY?
HYZD has an expense ratio of 0.43% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $34 per year of difference.
Which performed better, HYZD or SPY?
Over the past year HYZD returned +6.95% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (13 years), HYZD annualized +1.60% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, HYZD or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 7.7% for HYZD. Worst drawdown: HYZD -33.1% vs SPY -56.5%.
Should I hold both HYZD and SPY?
HYZD and SPY have a monthly-return correlation of 0.74, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HYZD and SPY?
HYZD and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 890 unique securities.
Which pays a higher dividend, HYZD or SPY?
HYZD yields 5.90% while SPY yields 1.01%, so HYZD currently pays the higher dividend yield.
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