PCHI vs SPHY
Polen High Income ETF vs State Street SPDR Portfolio High Yield Bond ETF
Which is better, PCHI or SPHY?
SPHY has been ahead.
SPHY has a lower expense ratio. SPHY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.90.
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 | PCHI | SPHY |
|---|---|---|
| Expense Ratio | 0.53% | 0.05%Best |
| AUM | $21M | $11.6B |
| Dividend Yield | 7.69% | 7.19% |
| Holdings | 136 | 1,905 |
| YTD Return | -0.50% | +0.58%Best |
| 1Y Return | +0.97% | +2.39%Best |
| 3Y Return (annualized) | - | +8.35% |
| 5Y Return (annualized) | - | +3.82% |
| Volatility (annualized) | 3.8% | 3.6%Best |
| Max Drawdown | -6.4% | -4.4%Best |
| $10,000 over 1.5 years | $10,429 | $10,713Best |
| Fund Family | Polen Capital | State Street Investment Management |
| Category | Fixed Income | Fixed Income |
| Style | High Yield Bond | High Yield Bond |
| Inception | Mar 25, 2025 | Jun 18, 2012 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Mar 25, 2025 to Oct 12, 2026 (1.5 years).
PCHI vs SPHY 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 1.5 years both funds cover.
PCHI vs SPHY Performance
Polen High Income ETF (PCHI) is an ETF from Polen Capital and State Street SPDR Portfolio High Yield Bond ETF (SPHY) is an ETF from State Street Investment Management. Over the past year PCHI returned +0.97% while SPHY returned +2.39%. Year to date, PCHI is down 0.50% versus a gain of 0.58% for SPHY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PCHI has been the more volatile fund, with annualized monthly volatility of 3.8% compared with 3.6% for SPHY. 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 -6.4% for PCHI and -4.4% for SPHY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
PCHI charges 0.53% per year while SPHY charges 0.05%. On a $10,000 position that is $53 vs $5 annually, a gap of $48 per year that compounds over a long holding period. On income, PCHI currently yields 7.69% against 7.19% for SPHY.
Holdings Overlap
We hold position weights for 87 holdings in PCHI and 1,459 in SPHY, totalling 63.8% and 72.6% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 77 positions appear in both.
77 positions in common, counted across the 87 positions we hold weights for in PCHI and 1,459 in SPHY, against full books of 136 and 1,905.
Top Shared Holdings
| Stock | Weight in PCHI | Weight in SPHY | Difference |
|---|---|---|---|
| ATHENA 6.5 02/15/30 | 1.82% | 0.15% | 1.67% |
| HBGCN 7.375 01/31/32Hub International Ltd Corp. Note | 1.80% | 0.11% | 1.69% |
| FOCS 6.75 09/15/31 1Focus Financial 6.75% 09/15/31 | 1.80% | 0.10% | 1.70% |
| RCM 6.875 11/15/31 1Raven Acquisition Holdin Sr Secured 144A 11/31 6.875 | 1.56% | 0.06% | 1.50% |
| DAEL 6.5 12/01/29 14Ellucian Holding 6.5% 12/01/29 | 1.53% | 0.04% | 1.49% |
| WEX 6.5 03/15/33 144Wex Inc 6.5 03/15/2033 | 1.52% | 0.05% | 1.47% |
| SURCEN 7.25 04/15/32Surgery Center Holdings Inc 144A 7.250000% 04/15/2032 | 1.50% | 0.05% | 1.45% |
| B 6.75 02/01/32 144AB 6.75 02/01/32 144A | 1.37% | 0.03% | 1.34% |
| BBCP 7.5 02/01/32 14Brundage-Bone Concrete Pumping Holdings Inc 7.5% 02/01/2032 | 1.32% | 0.04% | 1.28% |
| QUIKHO 6.75 03/01/33Quikrete Holdin 6.75% 03/01/33 | 1.25% | 0.09% | 1.16% |
You are not choosing between two funds in isolation.
Whichever of PCHI and SPHY 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, PCHI or SPHY?
PCHI has an expense ratio of 0.53% while SPHY charges 0.05%. SPHY is the cheaper option, by $48 a year on a $10,000 investment.
Which performed better, PCHI or SPHY?
Over the past year PCHI returned +0.97% vs +2.39% for SPHY, so SPHY leads on 1-year performance. Over the longest common window we track (2 years), PCHI annualized +2.84% vs +4.70% for SPHY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PCHI or SPHY?
PCHI has been the more volatile fund at 3.8% annualized versus 3.6% for SPHY. Worst drawdown: PCHI -6.4% vs SPHY -4.4%.
Should I hold both PCHI and SPHY?
PCHI and SPHY have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, PCHI or SPHY?
PCHI yields 7.69% while SPHY yields 7.19%, so PCHI currently pays the higher dividend yield.
Is SPHY better than PCHI?
SPHY has a lower expense ratio. SPHY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.90. Which one suits a particular account depends on what it is for. This is information, not a recommendation.