SPHY vs VOO
SPHY vs VOO
State Street SPDR Portfolio High Yield Bond ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPHY | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.05% | 0.03% | |
| AUM | $11.6B | $979.0B | |
| Dividend Yield | 7.24% | 1.09% | |
| Holdings | 1,942 | 509 | |
| YTD Return | +1.75% | +13.53% | |
| 1Y Return | +5.12% | +23.65% | |
| 3Y Return (annualized) | +8.18% | +21.27% | |
| 5Y Return (annualized) | +4.11% | +13.52% | |
| Volatility (annualized) | 8.6% | 14.1% | |
| Max Drawdown | -22.4% | -34.3% | |
| Fund Family | State Street Investment Management | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jun 18, 2012 | Sep 7, 2010 |
SPHY vs VOO Performance
State Street SPDR Portfolio High Yield Bond ETF (SPHY) is a ETF from State Street Investment Management and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year SPHY returned +5.12% while VOO returned +23.65%. Year to date, SPHY is up 1.75% versus a gain of 13.53% for VOO.
Over three years, SPHY compounded at +8.18% per year against +21.27% for VOO; over five years the annualized figures are +4.11% and +13.52% respectively. Across the full 7-year window we track, VOO has the edge at +13.57% annualized vs +3.66%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 8.6% for SPHY. 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 -22.4% for SPHY and -34.3% for VOO. 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPHY charges 0.05% per year while VOO charges 0.03%. On a $10,000 position that is $5 vs $3 annually, a gap of $2 per year that compounds over a long holding period. On income, SPHY currently yields 7.24% against 1.09% for VOO.
Holdings Overlap
SPHY and VOO share 0 holdings out of 856 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, SPHY or VOO?
SPHY has an expense ratio of 0.05% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, SPHY or VOO?
Over the past year SPHY returned +5.12% vs +23.65% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (7 years), SPHY annualized +3.66% vs +13.57% for VOO. Past performance does not guarantee future results.
Which is riskier, SPHY or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 8.6% for SPHY. Worst drawdown: SPHY -22.4% vs VOO -34.3%.
Should I hold both SPHY and VOO?
SPHY and VOO have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPHY and VOO?
SPHY and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 856 unique securities.
Which pays a higher dividend, SPHY or VOO?
SPHY yields 7.24% while VOO yields 1.09%, so SPHY currently pays the higher dividend yield.
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