FALN vs SPHY: Differences, Returns & Fees
FALN's duration was 4.6 years on Jul 31, 2026 and SPHY's 3.2 on Jun 30, 2026; SPHY charges 0.05% to FALN's 0.25%. Net assets on Oct 20, 2026: $1.6bn for iShares Fallen Angels USD Bond ETF and $11.7bn for State Street SPDR Portfolio High Yield Bond ETF.
SPHY costs 0.20 points a year less; their one-year returns differ by 1.9 points; SPHY is 7.5 times larger.
| FALN | SPHY | |
|---|---|---|
| Expense ratio | 0.25% | 0.05% |
| Net assets | $1.6bn | $11.7bn |
| Total return, 1 year | −0.8% | +1.1% |
| What it tracks | Bloomberg US High Yield Fallen Angel 3% Capped Index | ICE BofA US High Yield Index |
| Holdings in common | 5% | |
| Below its high | 4.4%, high on Aug 13, 2026 | |
Holdings in common uses holdings dated Jun 30, 2026 and Jul 31, 2026.
FALN and SPHY are built for the same job. How do they differ in cost, holdings and results?
- What each follows. FALN follows Bloomberg US High Yield Fallen Angel 3% Capped Index and SPHY follows ICE BofA US High Yield Index.
- Holdings in common. 5% of the weight is in the same securities (holdings dated Jul 31, 2026 and Jun 30, 2026).
- Number of holdings. FALN holds 156 positions and SPHY holds 1930.
Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.
Take this comparison to a client
The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.
Not advice. The brief uses the figures on this page, with the data date and a report id. Saved comparisons are listed on your saved page; privacy.
What they hold in common
By the books each fund has filed, FALN and SPHY hold 5% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.
half
5% in common
On the same fields
FALN and SPHY on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About FALN
FALN tracks an index. Over the year to Oct 20, 2026 it returned −0.8% with distributions reinvested, against −1.6% for its benchmark, the Bloomberg U.S. Universal Index. The prospectus expense ratio is 0.25% a year. It sat 4.4% below its high of Aug 13, 2026 on Oct 20, 2026.
About SPHY
SPHY tracks an index. Over the year to Oct 20, 2026 it returned +1.1% with distributions reinvested, against +1.0% for its benchmark, the ICE BofA US High Yield Index. The prospectus expense ratio is 0.05% a year.
Questions people ask
- Which returned more over the last year, FALN or SPHY?
- In the year to Oct 20, 2026, with distributions reinvested, FALN returned −0.8% and SPHY +1.1%.
- Which is cheaper, FALN or SPHY?
- SPHY is cheaper, by 0.20 percentage points a year. That is about $20 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Cite this pageCitation, APA and Markdown
ETFIQ, FALN against SPHY, data as of Oct 20, 2026. https://etfiq.com/compare/any/faln-vs-sphy
ETFIQ. (Oct 20, 2026). FALN against SPHY. Retrieved from https://etfiq.com/compare/any/faln-vs-sphy
[FALN against SPHY (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/faln-vs-sphy)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.