SPY vs THYF
SPY vs THYF
State Street SPDR S&P 500 ETF Trust vs T. Rowe Price US High Yield ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | THYF | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.56% | |
| AUM | $789.1B | $844M | |
| Dividend Yield | 1.01% | 7.03% | |
| Holdings | 505 | 113 | |
| YTD Return | +13.79% | +2.34% | |
| 1Y Return | +23.66% | +5.44% | |
| 3Y Return (annualized) | +21.40% | +7.80% | |
| 5Y Return (annualized) | +13.37% | - | |
| Volatility (annualized) | 15.3% | 5.6% | |
| Max Drawdown | -56.5% | -5.2% | |
| Fund Family | State Street Investment Management | T.Rowe Price | |
| Category | Equity | Fixed Income | |
| Inception | Jan 22, 1993 | Oct 25, 2022 |
SPY vs THYF Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and T. Rowe Price US High Yield ETF (THYF) is a ETF from T.Rowe Price. Over the past year SPY returned +23.66% while THYF returned +5.44%. Year to date, SPY is up 13.79% versus a gain of 2.34% for THYF.
Over three years, SPY compounded at +21.40% per year against +7.80% for THYF. Across the full 4-year window we track, SPY has the edge at +8.85% annualized vs +8.14%. 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 5.6% for THYF. 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 -56.5% for SPY and -5.2% for THYF. 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while THYF charges 0.56%. On a $10,000 position that is $9 vs $56 annually, a gap of $47 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 7.03% for THYF.
Holdings Overlap
SPY and THYF share 0 holdings out of 576 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, SPY or THYF?
SPY has an expense ratio of 0.09% while THYF charges 0.56%. SPY is the cheaper option. On a $10,000 investment, that is $47 per year of difference.
Which performed better, SPY or THYF?
Over the past year SPY returned +23.66% vs +5.44% for THYF, so SPY leads on 1-year performance. Over the longest common window we track (4 years), SPY annualized +8.85% vs +8.14% for THYF. Past performance does not guarantee future results.
Which is riskier, SPY or THYF?
SPY has been the more volatile fund at 15.3% annualized versus 5.6% for THYF. Worst drawdown: SPY -56.5% vs THYF -5.2%.
Should I hold both SPY and THYF?
SPY and THYF have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and THYF?
SPY and THYF share 0 common holdings with a 0.0% weight overlap. Combined, they hold 576 unique securities.
Which pays a higher dividend, SPY or THYF?
SPY yields 1.01% while THYF yields 7.03%, so THYF currently pays the higher dividend yield.
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