SPHY vs USHY: Differences, Returns & Fees
SPHY's duration was 3.2 years on Jun 30, 2026 and USHY's 3.0 on Jul 31, 2026; SPHY charges 0.05% to USHY's 0.08%. Net assets on Oct 20, 2026: $11.7bn for State Street SPDR Portfolio High Yield Bond ETF and $25.6bn for iShares Broad USD High Yield Corporate Bond ETF.
SPHY costs 0.03 points a year less; their one-year returns differ by 0.1 points; USHY is 2.2 times larger.
| SPHY | USHY | |
|---|---|---|
| Expense ratio | 0.05% | 0.08% |
| Net assets | $11.7bn | $25.6bn |
| Total return, 1 year | +1.1% | +1.2% |
| What it tracks | ICE BofA US High Yield Index | ICE BofA US High Yield Constrained Index |
| Holdings in common | 80% | |
Holdings in common uses holdings dated Jun 30, 2026 and Jul 31, 2026.
SPHY and USHY are built for the same job. How do they differ in cost, holdings and results?
- What each follows. SPHY follows ICE BofA US High Yield Index and USHY follows ICE BofA US High Yield Constrained Index.
- Holdings in common (similar). 80% of the weight is in the same securities (holdings dated Jun 30, 2026 and Jul 31, 2026).
- One-year total return (similar). Over 1 year to Oct 20, 2026 SPHY returned +1.1% and USHY +1.2% with distributions reinvested, a gap of 0.1 points.
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.
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What they hold in common
By the books each fund has filed, SPHY and USHY hold 80% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.
half
80% in common
On the same fields
SPHY and USHY on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
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.
About USHY
USHY tracks an index of Broad USD High Yield Corporate Bond. Over the year to Oct 20, 2026 it returned +1.2% with distributions reinvested, against +1.1% for its benchmark, the ICE BofA US High Yield Constrained Index, measured by the closely related ICE BofA US High Yield Index. The prospectus expense ratio is 0.08% a year.
Questions people ask
- Which returned more over the last year, SPHY or USHY?
- In the year to Oct 20, 2026, with distributions reinvested, SPHY returned +1.1% and USHY +1.2%.
- Which is cheaper, SPHY or USHY?
- SPHY is cheaper, by 0.03 percentage points a year. That is about $3 on $10,000 held for a year. Fees come from each fund's prospectus.
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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, SPHY against USHY, data as of Oct 20, 2026. https://etfiq.com/compare/any/sphy-vs-ushy
ETFIQ. (Oct 20, 2026). SPHY against USHY. Retrieved from https://etfiq.com/compare/any/sphy-vs-ushy
[SPHY against USHY (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/sphy-vs-ushy)
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