BHYB vs SPY
BHYB vs SPY
Xtrackers USD High Yield BB-B ex Financials ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. BHYB offers more diversification with 1219 holdings.
Side-by-Side Comparison
| Metric | BHYB | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.09% | |
| AUM | $2.6B | $789.1B | |
| Dividend Yield | 6.32% | 1.01% | |
| Holdings | 1,464 | 505 | |
| YTD Return | +0.32% | +13.10% | |
| 1Y Return | +3.58% | +22.80% | |
| 3Y Return (annualized) | - | +20.98% | |
| 5Y Return (annualized) | - | +13.20% | |
| Volatility (annualized) | 3.4% | 15.3% | |
| Max Drawdown | -4.2% | -56.5% | |
| Fund Family | Xtrackers ETFs | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Oct 27, 2023 | Jan 22, 1993 |
BHYB vs SPY Performance
Xtrackers USD High Yield BB-B ex Financials ETF (BHYB) is a ETF from Xtrackers ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BHYB returned +3.58% while SPY returned +22.80%. Year to date, BHYB is up 0.32% versus a gain of 13.10% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 3.4% for BHYB. 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 -4.2% for BHYB and -56.5% for SPY. 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BHYB charges 0.20% per year while SPY charges 0.09%. On a $10,000 position that is $20 vs $9 annually, a gap of $11 per year that compounds over a long holding period. On income, BHYB currently yields 6.32% against 1.01% for SPY.
Holdings Overlap
BHYB and SPY share 0 holdings out of 1722 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, BHYB or SPY?
BHYB has an expense ratio of 0.20% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $11 per year of difference.
Which performed better, BHYB or SPY?
Over the past year BHYB returned +3.58% vs +22.80% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), BHYB annualized +7.17% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, BHYB or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 3.4% for BHYB. Worst drawdown: BHYB -4.2% vs SPY -56.5%.
Should I hold both BHYB and SPY?
BHYB and SPY have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BHYB and SPY?
BHYB and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1722 unique securities.
Which pays a higher dividend, BHYB or SPY?
BHYB yields 6.32% while SPY yields 1.01%, so BHYB currently pays the higher dividend yield.
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