SPHYvsUSHYETF Comparison
ETF 1
SPHY
State Street SPDR Portfolio High Yield Bond ETF
This fund is part of
US Corporate HY Bonds
+0.42%
VS
ETF 2
USHY
iShares Broad USD High Yield Corporate Bond ETF
This fund is part of
US Corporate HY Bonds
+0.42%
State Street SPDR Portfolio High Yield Bond ETF (SPHY) and iShares Broad USD High Yield Corporate Bond ETF (USHY) belong to the same industry segment: US Corporate HY Bonds. Both ETFs have the same top 3 sector exposures: Finance, Consumer Services and Industrials. SPHY is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.08% for USHY. SPHY is up 1.12% year-to-date (YTD) with +$2.02B in YTD flows. USHY performs worse with 1.1% YTD performance, and +$2.87B in YTD flows. Run a side-by-side ETF comparison of SPHY and USHY below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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SPHY vs USHY performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 11/04/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SPHY USHY | +0.93%+1.00% | -1.17%-1.13% | +1.12%+1.10% | +2.67%+2.69% | +25.93%+26.16% | +21.21%+20.56% |
| Flows | SPHY USHY | -$8M+$1.44B | +$374M-$738M | +$2.02B+$2.87B | +$2.51B+$2.30B | +$9.91B+$18.21B | +$11.89B+$20.48B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SPHY USHY | +3.16%+3.19% | +2.76%+2.84% | +3.09%+3.22% | +4.65%+4.87% |
| Max drawdown | SPHY USHY | -2.80%-2.85% | -2.80%-2.85% | -3.97%-3.86% | -14.44%-15.04% |
| Max drawdown duration | SPHY USHY | 69d69d | 69d69d | 75d68d | 715d721d |
Trading data
SPHY | USHY | |
Last sale 11/5/2026 at 2:30 PM | $22.53 | $35.67 |
| Previous close 11/04/2026 | $22.60 | $35.78 |
| Consolidated volume 11/04/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of November 5, 2026
1-year trailing difference
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SPHY | USHY | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 11/5/2026 at 2:30 PM
Live
Closed
SPHY | USHY | |
|---|---|---|
| Last price | $22.53 | $35.67 |
| 1D performance | -0.31% | -0.31% |
| AuM | $11.92 B | $27.12 B |
| E/R | 0.05% | 0.08% |
Characteristics
SPHY | USHY | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | State Street Investment Management | iShares |
| Benchmark | ICE BofA US High Yield Index | ICE BofA US High Yield Constrained Index |
| N° of holdings | 1835 | 1827 |
| Asset class | Fixed Income | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 18, 2012 | October 26, 2017 |
| ESG | No | No |
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Exposure
Countries
SPHY
USA
82.52%
Other
17.48%
USHY
USA
85.01%
Other
14.99%
Sectors
SPHY
Finance
16.76%
Consumer Services
10.92%
Industrials
10.86%
Energy
9.31%
Non-Energy Materi.
8.36%
Business Services
7.03%
Other
36.77%
USHY
Finance
16.28%
Consumer Services
11.29%
Industrials
11.09%
Energy
9.01%
Non-Energy Materi.
8.54%
Business Services
7.09%
Other
36.7%
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Diversification
SPHY
Total weight of top 15 holdings out of 15
4.3%
USHY
Total weight of top 15 holdings out of 15
5.49%
Top 15 holdings
Data as of September 30, 2026
SPHY
1261229 B.C., 10% 15apr2032, USD
0.49%
Meridian Arc HoldCo, 6.25% 30apr2031, USD
0.38%
EchoStar, 10.75% 30nov2029, USD
0.38%
Cloud Software Group, 6.5% 31mar2029, USD
0.29%
PR RNO Property Owner 1, 6.5% 1may2031, USD
0.28%
US83408KAB52
0.27%
Cloud Software Group, 9% 30sep2029, USD
0.26%
Quikrete Holdings, 6.375% 1mar2032, USD
0.26%
US83408KAC36
0.25%
Galaxy Helios Data Center II, 9.875% 1aug2031, USD
0.25%
RP Escrow Issuer, 7.125% 1jun2031, USD
0.24%
Oak-Eagle AcquireCo, 7.25% 1jul2033, USD
0.24%
SV RNO Property Owner 1, 5.875% 1mar2031, USD
0.24%
Nexstar Media, 6.5% 15sep2033, USD
0.23%
Hub International, 7.25% 15jun2030, USD
0.23%
USHY
BlackRock Cash Funds - Treasury
1.41%
1261229 B.C., 10% 15apr2032, USD
0.53%
EchoStar, 10.75% 30nov2029, USD
0.41%
Meridian Arc HoldCo, 6.25% 30apr2031, USD
0.37%
PR RNO Property Owner 1, 6.5% 1may2031, USD
0.31%
Cloud Software Group, 6.5% 31mar2029, USD
0.27%
Quikrete Holdings, 6.375% 1mar2032, USD
0.26%
Cloud Software Group, 9% 30sep2029, USD
0.25%
SV RNO Property Owner 1, 5.875% 1mar2031, USD
0.25%
WULF Compute, 7.75% 15oct2030, USD
0.24%
Core Scientific Finance I, 7.75% 15may2031, USD
0.24%
Hub International, 7.25% 15jun2030, USD
0.24%
Asurion LLC, 8% 31dec2032, USD
0.24%
Centene, 4.625% 15dec2029, USD
0.23%
Galaxy Helios Data Center II, 9.875% 1aug2031, USD
0.23%
Frequently asked questions about SPHY and USHY
How have the SPHY and USHY ETFs performed in 2026?
As of November 4, 2026, SPHY is up 1.12% year-to-date (YTD), while USHY has returned 1.1%. That puts SPHY better performer ahead so far this year.
Which ETF is attracting more investor money: SPHY or USHY?
Year-to-date, the SPHY ETF saw +$2.02B in flows, compared to +$2.87B for USHY.
Which ETF is more volatile: SPHY or USHY?
Over the past year, SPHY had a volatility of 2.76%, while USHY experienced 2.84%.
Which ETF is bigger: SPHY or USHY?
As of November 4, 2026, SPHY holds $11.92 B in assets under management (AUM), while USHY manages $27.12 B.
What sectors do the SPHY and USHY ETFs invest in?
SPHY leans toward sectors like Finance, Consumer Services and Industrials. Meanwhile, USHY focuses on Finance, Consumer Services and Industrials.
What are the top holdings of the SPHY ETF and USHY ETF?
SPHY top holdings include 1261229 B.C., 10% 15apr2032, USD, Meridian Arc HoldCo, 6.25% 30apr2031, USD and EchoStar, 10.75% 30nov2029, USD. USHY holds in its top three: BlackRock Cash Funds - Treasury, 1261229 B.C., 10% 15apr2032, USD and EchoStar, 10.75% 30nov2029, USD.
Which ETF is more diversified: SPHY or USHY?
SPHY holds 1903 securities with 4.3% of its assets in the top 15. USHY has 1896 securities and a top 15 weight of 5.49%.
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Latest news about SPHY & USHY
Schwab Launches New High-Yield Bond ETF on NYSE ARCA
July 13, 2023
USHY
Uptick to inflows in high-yield bond ETFs
December 16, 2022
USHY
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