CPHY vs HYLB

CPHYCF/m Compoundr High Yield Bond ETF

HYLBAXtrackers USD High Yield Corporate Bond ETF

In short

CPHY A 2025 arrival in a crowded aisle: CPHY tracks a Nasdaq-built Compoundr index of US high-yield corporate bonds for 0.35%, cheaper than the typical junk-bond ETF but priced above the category's index giants.

HYLB Broad-market junk bonds at index-fund pricing: 0.05% a year, a fraction of what the typical high-yield bond ETF charges, spread across roughly 1,300 issues. Running since 2016, it pays monthly.

Stated mandate

CPHY The Fund seeks to track the Nasdaq Compoundr High-Yield Corporate Bond Index before fees and expenses through a primarily high-yield-bond investment strategy.

HYLB The fund seeks to track, before fees and expenses, the Solactive USD High Yield Corporates Total Market Index. It uses a passive representative-sampling indexing approach.

Why people hold it

• CPHY Costs 0.35% a year, under the 0.40% median for high-yield bond ETFs, so a bit more of the coupon stays in the fund.
• Rules-based by design: it follows the Nasdaq Compoundr High-Yield Corporate Bond Index, and the portfolio has stayed tight to that stated mandate.
• Simple plumbing: a standard 1940 Act US bond ETF. No leverage, no options overlay, no partnership tax paperwork.

• HYLB 0.05% expense ratio puts it at the low end of the high-yield ETF field, matching SPHY and undercutting USHY's 0.08%. Fee drag matters most where yield is the whole point.
• Total-market mandate, not a filtered slice: roughly 1,300 bonds sampled from the Solactive USD High Yield Corporates Total Market Index.
• Tracking has been tight against its stated index, and it trades actively enough to keep spreads workable. One of the cleaner implementations in the high-yield group.
• Monthly distributions, with a live record going back to a 2016 launch (through the 2020 credit shock and the 2022 rate spike).

Worth knowing

• CPHY The big index rivals cost far less (SCYB at 0.03%, SPHY at 0.05%), so the fee edge holds against the category's middle, not its leaders.
• Launched in August 2025, so the live record is short, and below-investment-grade bonds can fall hard when credit spreads widen.
• It trades lightly next to the category's heavyweights, which makes bid/ask spreads and order type more consequential.

• HYLB This is the credit-risk end of the bond market. Below-investment-grade issuers default more often, and prices can fall hard when spreads widen.
• Representative sampling means it holds a subset of the index, not every bond, so results can drift slightly from the benchmark.
• Cheap, but not the floor: SCYB runs 0.03%. HYLB is also a mid-sized fund next to the largest names in the category.

Full CPHY profile⁠

Full HYLB profile⁠