HYGV vs SPY
HYGV vs SPY
FlexShares High Yield Value-Scored Bond Index Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. HYGV offers more diversification with 854 holdings.
Side-by-Side Comparison
| Metric | HYGV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.37% | 0.09% | |
| AUM | $1.1B | $789.1B | |
| Dividend Yield | 7.38% | 1.01% | |
| Holdings | 958 | 505 | |
| YTD Return | +1.74% | +13.10% | |
| 1Y Return | +4.90% | +22.80% | |
| 3Y Return (annualized) | +7.92% | +20.98% | |
| 5Y Return (annualized) | +3.40% | +13.20% | |
| Volatility (annualized) | 9.1% | 15.3% | |
| Max Drawdown | -25.9% | -56.5% | |
| Fund Family | Flexshares Trust | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jul 17, 2018 | Jan 22, 1993 |
HYGV vs SPY Performance
FlexShares High Yield Value-Scored Bond Index Fund (HYGV) is a ETF from Flexshares Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year HYGV returned +4.90% while SPY returned +22.80%. Year to date, HYGV is up 1.74% versus a gain of 13.10% for SPY.
Over three years, HYGV compounded at +7.92% per year against +20.98% for SPY; over five years the annualized figures are +3.40% and +13.20% respectively. Across the full 8-year window we track, SPY has the edge at +8.83% annualized vs +2.34%. 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 9.1% for HYGV. 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 -25.9% for HYGV 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
HYGV charges 0.37% per year while SPY charges 0.09%. On a $10,000 position that is $37 vs $9 annually, a gap of $28 per year that compounds over a long holding period. On income, HYGV currently yields 7.38% against 1.01% for SPY.
Holdings Overlap
HYGV and SPY share 0 holdings out of 1357 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, HYGV or SPY?
HYGV has an expense ratio of 0.37% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $28 per year of difference.
Which performed better, HYGV or SPY?
Over the past year HYGV returned +4.90% vs +22.80% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (8 years), HYGV annualized +2.34% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, HYGV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 9.1% for HYGV. Worst drawdown: HYGV -25.9% vs SPY -56.5%.
Should I hold both HYGV and SPY?
HYGV 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 HYGV and SPY?
HYGV and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1357 unique securities.
Which pays a higher dividend, HYGV or SPY?
HYGV yields 7.38% while SPY yields 1.01%, so HYGV currently pays the higher dividend yield.
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