CIF vs SPY
CIF vs SPY
MFS Intermediate High Income Fund vs State Street SPDR S&P 500 ETF Trust
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 | CIF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 2.05% | 0.09% | |
| AUM | $31M | $789.1B | |
| Dividend Yield | 9.78% | 1.01% | |
| Holdings | 360 | 505 | |
| YTD Return | -1.12% | +13.79% | |
| 1Y Return | +3.67% | +23.66% | |
| 3Y Return (annualized) | +10.23% | +21.40% | |
| 5Y Return (annualized) | -3.54% | +13.37% | |
| Volatility (annualized) | 19.3% | 15.3% | |
| Max Drawdown | -87.0% | -56.5% | |
| Fund Family | MFS Investment Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jul 21, 1988 | Jan 22, 1993 |
CIF vs SPY Performance
MFS Intermediate High Income Fund (CIF) is a ETF from MFS Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CIF returned +3.67% while SPY returned +23.66%. Year to date, CIF is down 1.12% versus a gain of 13.79% for SPY.
Over three years, CIF compounded at +10.23% per year against +21.40% for SPY; over five years the annualized figures are -3.54% and +13.37% respectively. Across the full 31-year window we track, SPY has the edge at +8.85% annualized vs -3.07%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CIF has been the more volatile fund, with annualized monthly volatility of 19.3% compared with 15.3% for SPY. 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 -87.0% for CIF 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 0.51. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CIF charges 2.05% per year while SPY charges 0.09%. On a $10,000 position that is $205 vs $9 annually, a gap of $196 per year that compounds over a long holding period. On income, CIF currently yields 9.78% against 1.01% for SPY.
Holdings Overlap
CIF and SPY share 0 holdings out of 788 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, CIF or SPY?
CIF has an expense ratio of 2.05% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $196 per year of difference.
Which performed better, CIF or SPY?
Over the past year CIF returned +3.67% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (31 years), CIF annualized -3.07% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, CIF or SPY?
CIF has been the more volatile fund at 19.3% annualized versus 15.3% for SPY. Worst drawdown: CIF -87.0% vs SPY -56.5%.
Should I hold both CIF and SPY?
CIF and SPY have a monthly-return correlation of 0.51, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CIF and SPY?
CIF and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 788 unique securities.
Which pays a higher dividend, CIF or SPY?
CIF yields 9.78% while SPY yields 1.01%, so CIF currently pays the higher dividend yield.
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