EVHY vs SPY
EVHY vs SPY
Eaton Vance High Yield ETF 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 | EVHY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.48% | 0.09% | |
| AUM | $23M | $789.1B | |
| Dividend Yield | 7.12% | 1.01% | |
| Holdings | 294 | 505 | |
| YTD Return | +1.64% | +9.93% | |
| 1Y Return | +5.47% | +19.50% | |
| 3Y Return (annualized) | - | +19.33% | |
| 5Y Return (annualized) | - | +12.82% | |
| Volatility (annualized) | 3.9% | 15.3% | |
| Max Drawdown | -3.7% | -56.5% | |
| Fund Family | Eaton Vance | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Oct 16, 2023 | Jan 22, 1993 |
EVHY vs SPY Performance
Eaton Vance High Yield ETF (EVHY) is a ETF from Eaton Vance and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EVHY returned +5.47% while SPY returned +19.50%. Year to date, EVHY is up 1.64% versus a gain of 9.93% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 3.9% for EVHY. 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 -3.7% for EVHY 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 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EVHY charges 0.48% per year while SPY charges 0.09%. On a $10,000 position that is $48 vs $9 annually, a gap of $39 per year that compounds over a long holding period. On income, EVHY currently yields 7.12% against 1.01% for SPY.
Holdings Overlap
EVHY and SPY share 0 holdings out of 728 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, EVHY or SPY?
EVHY has an expense ratio of 0.48% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $39 per year of difference.
Which performed better, EVHY or SPY?
Over the past year EVHY returned +5.47% vs +19.50% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), EVHY annualized +9.22% vs +8.74% for SPY. Past performance does not guarantee future results.
Which is riskier, EVHY or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 3.9% for EVHY. Worst drawdown: EVHY -3.7% vs SPY -56.5%.
Should I hold both EVHY and SPY?
EVHY and SPY have a monthly-return correlation of 0.71, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EVHY and SPY?
EVHY and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 728 unique securities.
Which pays a higher dividend, EVHY or SPY?
EVHY yields 7.12% while SPY yields 1.01%, so EVHY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.