State Street SPDR Portfolio High Yield Bond ETF
$22.53−0.06 (−0.27%)
- 0.05%
- $11.8B
- +3.0%
- 7.37%
- 5.7M sh
- $22.52
- low $22.32high $23.95
The ETF.net SPHY Grade
A
Score 89 out of 100
- 1 of 85
Score 89 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A98 out of 100Rank 2 of 85Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 74Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B57 out of 100Rank 27 of 85Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A86 out of 100Rank 3 of 85Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A95 out of 100Rank 3 of 85Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A93 out of 100Rank 2 of 85
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
- 1,919
- 4%
- Ssi Us Gov Money Market Class
Sectors
- Financials99.9%
- Energy0.1%
Geography
- United States85.97%
- Canada4.14%
- United Kingdom1.82%
- Luxembourg1.49%
- Japan1.34%
- France1.01%
- Australia0.73%
- Ireland0.68%
- 2.82%
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$10,304
Returns run to the Oct 12, 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 | +0.7% |
| 1 month | −1.2% |
| 3 months | −1.4% |
| 1 year | +3.0% |
| 3 years | +8.6% |
| 5 years | +4.0% |
| 10 years | +4.6% |
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 | +0.7% | |
| 2025 | +8.6% | |
| 2024 | +8.5% | |
| 2023 | +12.8% | |
| 2022 | −10.6% | |
| 2021 | +5.6% | |
| 2020 | +6.7% |
SPHY in the news
SPHY Dividends
- 7.37%
- $1.67
- $0.14 per share
- Monthly
Distribution history
SPHY Risk
- 4.7%
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.
- 0.74
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 85 US High Yield funds charge less.
Other funds in US High Yield
- AHYLBXtrackers USD High Yield Corporate Bond ETFExpense ratio 0.05%1 year return +2.9%
- ASCYBSchwab High Yield Bond ETFExpense ratio 0.03%1 year return +2.8%
- AUSHYiShares Broad USD High Yield Corporate Bond ETFExpense ratio 0.08%1 year return +2.9%
- ABHYBXtrackers USD High Yield BB-B ex Financials ETFExpense ratio 0.20%1 year return +3.3%
- ABBHYJPMorgan BetaBuilders USD High Yield Corporate Bond ETFExpense ratio 0.07%1 year return +2.8%