CPHY vs USHY

CPHYCF/m Compoundr High Yield Bond ETF

USHYAiShares Broad 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.

USHY The wide-angle lens on junk bonds: about 1,900 US dollar high yield corporate issues for 0.08% a year, a fifth of what the typical fund in its category charges. Broad, cheap, heavily traded, and 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.

USHY The fund seeks to track an index of U.S. dollar-denominated high yield corporate bonds.

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.

• USHY Charges 0.08% a year while the median high yield fund in its cohort runs 0.40%. Cheap rent on an expensive-to-run corner of the bond market.
• Holds about 1,900 bonds against the ICE BofA US High Yield Constrained Index: the broad market, not a curated slice of the most liquid names.ishares.com
• A multi-billion-dollar fund and one of the more actively traded in high yield, which tends to keep bid-ask spreads thin even on busy days.
• Pays monthly and has tracked its index tightly since its 2017 launch, one of the closer index matches in its peer group.

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.

• USHY High yield means below-investment-grade borrowers. When credit gets stressed this asset class drops with stocks instead of cushioning them.
• Cheaper tickets sit on the same shelf: SCYB at 0.03% and SPHY at 0.05%.
• This is a fund, not a bond ladder. No maturity date hands your principal back; the basket rolls on indefinitely.

Full CPHY profile⁠

Full USHY profile⁠