HYBL vs SPY
HYBL vs SPY
State Street Blackstone High Income 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 | HYBL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.70% | 0.09% | |
| AUM | $569M | $789.1B | |
| Dividend Yield | 7.13% | 1.01% | |
| Holdings | 659 | 505 | |
| YTD Return | -1.95% | +13.10% | |
| 1Y Return | +1.13% | +22.80% | |
| 3Y Return (annualized) | +6.88% | +20.98% | |
| 5Y Return (annualized) | - | +13.20% | |
| Volatility (annualized) | 5.2% | 15.3% | |
| Max Drawdown | -8.5% | -56.5% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Feb 16, 2022 | Jan 22, 1993 |
HYBL vs SPY Performance
State Street Blackstone High Income ETF (HYBL) is a ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year HYBL returned +1.13% while SPY returned +22.80%. Year to date, HYBL is down 1.95% versus a gain of 13.10% for SPY.
Over three years, HYBL compounded at +6.88% per year against +20.98% for SPY. Across the full 5-year window we track, SPY has the edge at +8.83% annualized vs +4.74%. 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 5.2% for HYBL. 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 -8.5% for HYBL 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HYBL charges 0.70% per year while SPY charges 0.09%. On a $10,000 position that is $70 vs $9 annually, a gap of $61 per year that compounds over a long holding period. On income, HYBL currently yields 7.13% against 1.01% for SPY.
Holdings Overlap
HYBL and SPY share 0 holdings out of 555 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, HYBL or SPY?
HYBL has an expense ratio of 0.70% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $61 per year of difference.
Which performed better, HYBL or SPY?
Over the past year HYBL returned +1.13% vs +22.80% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), HYBL annualized +4.74% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, HYBL or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 5.2% for HYBL. Worst drawdown: HYBL -8.5% vs SPY -56.5%.
Should I hold both HYBL and SPY?
HYBL and SPY have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HYBL and SPY?
HYBL and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 555 unique securities.
Which pays a higher dividend, HYBL or SPY?
HYBL yields 7.13% while SPY yields 1.01%, so HYBL currently pays the higher dividend yield.
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