SPHY vs VTI
SPHY vs VTI
State Street SPDR Portfolio High Yield Bond ETF vs Vanguard Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 2783 holdings.
Side-by-Side Comparison
| Metric | SPHY | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 0.05% | 0.03% | |
| AUM | $11.6B | $663.5B | |
| Dividend Yield | 7.24% | 1.07% | |
| Holdings | 1,942 | 3,543 | |
| YTD Return | +1.75% | +13.92% | |
| 1Y Return | +5.12% | +24.07% | |
| 3Y Return (annualized) | +8.18% | +20.88% | |
| 5Y Return (annualized) | +4.11% | +12.47% | |
| Volatility (annualized) | 8.6% | 15.3% | |
| Max Drawdown | -22.4% | -56.6% | |
| Fund Family | State Street Investment Management | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jun 18, 2012 | May 24, 2001 |
SPHY vs VTI Performance
State Street SPDR Portfolio High Yield Bond ETF (SPHY) is a ETF from State Street Investment Management and Vanguard Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year SPHY returned +5.12% while VTI returned +24.07%. Year to date, SPHY is up 1.75% versus a gain of 13.92% for VTI.
Over three years, SPHY compounded at +8.18% per year against +20.88% for VTI; over five years the annualized figures are +4.11% and +12.47% respectively. Across the full 7-year window we track, VTI has the edge at +8.13% annualized vs +3.66%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.3% 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 -56.6% for VTI. 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
SPHY charges 0.05% per year while VTI 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 1.07% for VTI.
Holdings Overlap
SPHY and VTI share 0 holdings out of 3134 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 VTI?
SPHY has an expense ratio of 0.05% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, SPHY or VTI?
Over the past year SPHY returned +5.12% vs +24.07% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (7 years), SPHY annualized +3.66% vs +8.13% for VTI. Past performance does not guarantee future results.
Which is riskier, SPHY or VTI?
VTI has been the more volatile fund at 15.3% annualized versus 8.6% for SPHY. Worst drawdown: SPHY -22.4% vs VTI -56.6%.
Should I hold both SPHY and VTI?
SPHY and VTI 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 SPHY and VTI?
SPHY and VTI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 3134 unique securities.
Which pays a higher dividend, SPHY or VTI?
SPHY yields 7.24% while VTI yields 1.07%, so SPHY currently pays the higher dividend yield.
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