State Street SPDR Portfolio High Yield Bond ETF
$22.88−0.15 (−0.65%)
- Expense ratio
- 0.05%
- Fund size
- $12.0B
- 1Y return
- +3.1%
- Yield · Last 12 months
- 7.26%
- Holdings
- 1939
- Volume · 30D
- 5.1M sh
- NAV per share
- $23.01
- 52W range
The ETF.net SPHY Grade
Score 90 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.AScore 98Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 58Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 86Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 96Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 93Category rank
Our read on SPHY
AState Street's junk-bond workhorse: roughly 1,900 US high yield bonds in one wrapper for 0.05% a year, a fraction of what the typical high yield ETF charges, with income paid monthly.
The fund seeks to track, before fees and expenses, the price and yield performance of the ICE BofA US High Yield Index.
Why people hold it
- 0.05% a year against a peer-group median about eight times higher. In high yield, the fee comes straight out of coupon income, so the gap does real work.
- Holds about 1,900 bonds tracking the ICE BofA US High Yield Index, broad enough that no single issuer's trouble dominates the portfolio.ssga.com
- Live since 2012, a multi-billion-dollar fund that trades actively and has stuck tightly to its stated index rather than drifting from the mandate.
- Distributions arrive monthly, in step with how the underlying coupons come in.
Worth knowing
- This is below-investment-grade credit. Defaults and spread moves drive the price far more than Treasury yields do, and sell-offs in this asset class can be sharp.
- Fees here are already near the floor: SCYB lists 0.03% and HYLB matches at 0.05%, so the cost edge over the strongest peers is narrow.
- Scope is US high yield corporates, full stop. No investment-grade ballast, no emerging market debt, nothing to soften a credit drawdown from inside the fund.ssga.com
SPHY Holdings
- Bonds
- 1,939
- 3%
- SSI US GOV MONEY MARKET CLASS
Sectors
- Financials99.9%
- Energy0.1%
Geography
- United States86.54%
- Canada4.36%
- United Kingdom1.83%
- Luxembourg1.47%
- France1.00%
- Japan0.82%
- Ireland0.70%
- Australia0.67%
- 2.60%
SPHY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
SPHY$10,315
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | SPHY |
|---|---|
| Year to date | +2.0% |
| 1 month | −0.6% |
| 3 months | +0.1% |
| 1 year | +3.1% |
| 3 years | +8.7% |
| 5 years | +4.1% |
| 10 years | +4.8% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | SPHY |
|---|---|---|
| 2026 YTD | +2.0% | |
| 2025 | +8.6% | |
| 2024 | +8.5% | |
| 2023 | +12.8% | |
| 2022 | −10.6% | |
| 2021 | +5.6% | |
| 2020 | +6.7% |
SPHY in the news
SPHY Dividends
- 7.26%
- $1.67
- $0.14 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 4, 2026 | $0.14 |
| Aug 3, 2026 | Aug 6, 2026 | $0.14 |
| Jul 1, 2026 | Jul 7, 2026 | $0.14 |
| Jun 1, 2026 | Jun 4, 2026 | $0.14 |
| May 1, 2026 | May 6, 2026 | $0.14 |
| Apr 1, 2026 | Apr 6, 2026 | $0.14 |
| Mar 2, 2026 | Mar 5, 2026 | $0.14 |
| Feb 2, 2026 | Feb 5, 2026 | $0.14 |
| Dec 18, 2025 | Dec 23, 2025 | $0.14 |
| Dec 1, 2025 | Dec 4, 2025 | $0.14 |
| Nov 3, 2025 | Nov 6, 2025 | $0.14 |
| Oct 1, 2025 | Oct 6, 2025 | $0.14 |
SPHY Risk
- 4.4%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.85
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −15.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.64
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SPHY Cost
0.05%
SPHY0.05%
- The middle half of US High Yield funds
- Median 0.43%
1 of the 84 US High Yield funds charge less.