SPY vs XHYI
SPY vs XHYI
State Street SPDR S&P 500 ETF Trust vs BondBloxx USD High Yield Bond Industrial Sector ETF
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 | SPY | XHYI | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.35% | |
| AUM | $789.1B | $8M | |
| Dividend Yield | 1.01% | 6.51% | |
| Holdings | 505 | 496 | |
| YTD Return | +13.10% | +0.15% | |
| 1Y Return | +22.80% | +6.16% | |
| 3Y Return (annualized) | +20.98% | +7.78% | |
| 5Y Return (annualized) | +13.20% | - | |
| Volatility (annualized) | 15.3% | 7.5% | |
| Max Drawdown | -56.5% | -11.0% | |
| Fund Family | State Street Investment Management | BondBloxx | |
| Category | Equity | Fixed Income | |
| Inception | Jan 22, 1993 | Feb 15, 2022 |
SPY vs XHYI Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and BondBloxx USD High Yield Bond Industrial Sector ETF (XHYI) is a ETF from BondBloxx. Over the past year SPY returned +22.80% while XHYI returned +6.16%. Year to date, SPY is up 13.10% versus a gain of 0.15% for XHYI.
Over three years, SPY compounded at +20.98% per year against +7.78% for XHYI. Across the full 4-year window we track, SPY has the edge at +8.83% annualized vs +5.18%. 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 7.5% for XHYI. 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 -56.5% for SPY and -11.0% for XHYI. 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 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while XHYI charges 0.35%. On a $10,000 position that is $9 vs $35 annually, a gap of $26 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 6.51% for XHYI.
Holdings Overlap
SPY and XHYI share 0 holdings out of 938 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, SPY or XHYI?
SPY has an expense ratio of 0.09% while XHYI charges 0.35%. SPY is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, SPY or XHYI?
Over the past year SPY returned +22.80% vs +6.16% for XHYI, so SPY leads on 1-year performance. Over the longest common window we track (4 years), SPY annualized +8.83% vs +5.18% for XHYI. Past performance does not guarantee future results.
Which is riskier, SPY or XHYI?
SPY has been the more volatile fund at 15.3% annualized versus 7.5% for XHYI. Worst drawdown: SPY -56.5% vs XHYI -11.0%.
Should I hold both SPY and XHYI?
SPY and XHYI have a monthly-return correlation of 0.84, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and XHYI?
SPY and XHYI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 938 unique securities.
Which pays a higher dividend, SPY or XHYI?
SPY yields 1.01% while XHYI yields 6.51%, so XHYI currently pays the higher dividend yield.
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