SPY vs USHY
State Street SPDR S&P 500 ETF Trust vs iShares Broad USD High Yield Corporate Bond ETF
Which is better, SPY or USHY?
Large Cap Blend against High Yield Bond.
USHY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
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 | SPY | USHY |
|---|---|---|
| Expense Ratio | 0.09% | 0.08%Best |
| AUM | $804.7B | $28.5B |
| Dividend Yield | 0.98% | 6.91% |
| Holdings | 505 | 1,901 |
| YTD Return | +12.47%Best | -2.83% |
| 1Y Return | +17.51%Best | -1.88% |
| 3Y Return (annualized) | +21.18%Best | +6.51% |
| 5Y Return (annualized) | +12.88%Best | +2.77% |
| Volatility (annualized) | 16.2% | 9.6%Best |
| Max Drawdown | -34.1% | -31.0%Best |
| $10,000 over 5 years | $18,327Best | $11,464 |
| Fund Family | State Street Investment Management | iShares by BlackRock (US) |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | High Yield Bond |
| Inception | Jan 22, 1993 | Oct 25, 2017 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Oct 26, 2017 to Sep 11, 2026 (8.9 years).
SPY vs USHY 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 8.9 years both funds cover.
SPY vs USHY Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and iShares Broad USD High Yield Corporate Bond ETF (USHY) is an ETF from iShares by BlackRock (US). Over the past year SPY returned +17.51% while USHY returned -1.88%. Year to date, SPY is up 12.47% versus a loss of 2.83% for USHY.
Over three years, SPY compounded at +21.18% per year against +6.51% for USHY; over five years the annualized figures are +12.88% and +2.77% respectively. Across the full 9-year window we track, SPY has the edge at +14.08% annualized vs +1.93%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 16.2% compared with 9.6% for USHY. 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 -34.1% for SPY and -31.0% for USHY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.63. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while USHY charges 0.08%. On a $10,000 position that is $9 vs $8 annually, a gap of $1 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 6.91% for USHY.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 1,472 in USHY, totalling 100.0% and 76.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 504 positions we hold weights for in SPY and 1,472 in USHY, against full books of 505 and 1,901.
You are not choosing between two funds in isolation.
Whichever of SPY and USHY 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, SPY or USHY?
SPY has an expense ratio of 0.09% while USHY charges 0.08%. USHY is the cheaper option, by $1 a year on a $10,000 investment.
Which performed better, SPY or USHY?
Over the past year SPY returned +17.51% vs -1.88% for USHY, so SPY leads on 1-year performance. Over the longest common window we track (9 years), SPY annualized +14.08% vs +1.93% for USHY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or USHY?
SPY has been the more volatile fund at 16.2% annualized versus 9.6% for USHY. Worst drawdown: SPY -34.1% vs USHY -31.0%.
Should I hold both SPY and USHY?
SPY and USHY have a monthly-return correlation of 0.63, 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, SPY or USHY?
SPY yields 0.98% while USHY yields 6.91%, so USHY currently pays the higher dividend yield.
Is USHY better than SPY?
USHY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.