HYT vs SPY
HYT vs SPY
Blackrock Corporate High Yield Fund Inc. vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. HYT offers more diversification with 717 holdings.
Side-by-Side Comparison
| Metric | HYT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 3.35% | 0.09% | |
| AUM | $1.8B | $789.1B | |
| Dividend Yield | 10.17% | 1.01% | |
| Holdings | 1,211 | 505 | |
| YTD Return | +1.21% | +13.79% | |
| 1Y Return | -5.42% | +23.66% | |
| 3Y Return (annualized) | +8.05% | +21.40% | |
| 5Y Return (annualized) | +1.76% | +13.37% | |
| Volatility (annualized) | 14.0% | 15.3% | |
| Max Drawdown | -67.6% | -56.5% | |
| Fund Family | BlackRock, Inc. (US) | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | May 30, 2003 | Jan 22, 1993 |
HYT vs SPY Performance
Blackrock Corporate High Yield Fund Inc. (HYT) is a ETF from BlackRock, Inc. (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year HYT returned -5.42% while SPY returned +23.66%. Year to date, HYT is up 1.21% versus a gain of 13.79% for SPY.
Over three years, HYT compounded at +8.05% per year against +21.40% for SPY; over five years the annualized figures are +1.76% and +13.37% respectively. Across the full 23-year window we track, SPY has the edge at +8.85% annualized vs -0.22%. 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 14.0% for HYT. 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 -67.6% for HYT 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 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HYT charges 3.35% per year while SPY charges 0.09%. On a $10,000 position that is $335 vs $9 annually, a gap of $326 per year that compounds over a long holding period. On income, HYT currently yields 10.17% against 1.01% for SPY.
Holdings Overlap
HYT and SPY share 3 holdings out of 1217 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, HYT or SPY?
HYT has an expense ratio of 3.35% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $326 per year of difference.
Which performed better, HYT or SPY?
Over the past year HYT returned -5.42% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (23 years), HYT annualized -0.22% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, HYT or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 14.0% for HYT. Worst drawdown: HYT -67.6% vs SPY -56.5%.
Should I hold both HYT and SPY?
HYT and SPY have a monthly-return correlation of 0.72, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HYT and SPY?
HYT and SPY share 3 common holdings with a 0.1% weight overlap. Combined, they hold 1217 unique securities.
Which pays a higher dividend, HYT or SPY?
HYT yields 10.17% while SPY yields 1.01%, so HYT currently pays the higher dividend yield.
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