SPY vs YLD
State Street SPDR S&P 500 ETF Trust vs Principal Active 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 | YLD | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.39% | |
| AUM | $789.1B | $580M | |
| Dividend Yield | 1.01% | 7.26% | |
| Holdings | 505 | 148 | |
| YTD Return | +13.68% | +3.32% | |
| 1Y Return | +21.53% | +5.15% | |
| 3Y Return (annualized) | +21.44% | +8.21% | |
| 5Y Return (annualized) | +13.18% | +4.53% | |
| Volatility (annualized) | 15.3% | 8.7% | |
| Max Drawdown | -56.5% | -30.3% | |
| Fund Family | State Street Investment Management | Principal Funds | |
| Category | Equity | Allocation/Balanced | |
| Inception | Jan 22, 1993 | Jul 8, 2015 |
SPY vs YLD Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Principal Active High Yield ETF (YLD) is a ETF from Principal Funds. Over the past year SPY returned +21.53% while YLD returned +5.15%. Year to date, SPY is up 13.68% versus a gain of 3.32% for YLD.
Over three years, SPY compounded at +21.44% per year against +8.21% for YLD; over five years the annualized figures are +13.18% and +4.53% respectively. Across the full 11-year window we track, SPY has the edge at +8.85% annualized vs +2.59%. 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 8.7% for YLD. 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 -30.3% for YLD. 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while YLD charges 0.39%. On a $10,000 position that is $9 vs $39 annually, a gap of $30 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 7.26% for YLD.
Holdings Overlap
SPY and YLD share 0 holdings out of 612 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 YLD?
SPY has an expense ratio of 0.09% while YLD charges 0.39%. SPY is the cheaper option. On a $10,000 investment, that is $30 per year of difference.
Which performed better, SPY or YLD?
Over the past year SPY returned +21.53% vs +5.15% for YLD, so SPY leads on 1-year performance. Over the longest common window we track (11 years), SPY annualized +8.85% vs +2.59% for YLD. Past performance does not guarantee future results.
Which is riskier, SPY or YLD?
SPY has been the more volatile fund at 15.3% annualized versus 8.7% for YLD. Worst drawdown: SPY -56.5% vs YLD -30.3%.
Should I hold both SPY and YLD?
SPY and YLD have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and YLD?
SPY and YLD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 612 unique securities.
Which pays a higher dividend, SPY or YLD?
SPY yields 1.01% while YLD yields 7.26%, so YLD currently pays the higher dividend yield.
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