SPDR Portfolio High Yield Bond (SPHY) Performance
SPHY total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +0.2% since Dec 31, 2025
- 1 year
- +1.5% total return
- 5 years
- +3.8% a year
- 10 years
- +4.5% a year
- Since first price
- +4.7% a year since 2012
SPHY trailing returns vs AGG, TLT, SPY
| Period | SPHY total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −1.0% | −1.6% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.3% | −3.1% | −0.4% | −1.0% | +3.2% |
| 6 months | −1.0% | −4.5% | −1.5% | −3.8% | +7.8% |
| YTD | +0.2% | −5.0% | −1.0% | −3.4% | +12.3% |
| 1 year | +1.5% | −5.5% | −1.1% | −6.9% | +14.4% |
| 3 years | +28.4%+8.7%/yr | +2.5% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +20.6%+3.8%/yr | −15.4% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +55.4%+4.5%/yr | −15.3% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| Since inceptionJun 19, 2012 | +93.8%+4.7%/yr | −11.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: SPHY vs AGG
From Jun 19, 2012: SPHY grew to $19,380, AGG to $12,754.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SPHY returns by calendar year
9 of 13 full years positive. Best 2019 (+13.2%), worst 2022 (−10.6%). 2026 is year to date.
SPHY annual returns table
| Year | SPHY | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +0.2% | −2.8% | −1.0% | −3.4% | +12.3% |
| 2025 | +8.6% | −4.9% | +7.2% | +4.3% | +17.7% |
| 2024 | +8.5% | −2.3% | +1.3% | −8.1% | +24.9% |
| 2023 | +12.8% | −4.2% | +5.7% | +2.8% | +26.2% |
| 2022 | −10.6% | −15.0% | −13.0% | −31.2% | −18.2% |
| 2021 | +5.6% | −2.4% | −1.8% | −4.6% | +28.7% |
| 2020 | +6.7% | −22.0% | +7.5% | +18.2% | +18.3% |
| 2019 | +13.2% | −1.8% | +8.5% | +14.1% | +31.2% |
| 2018 | −3.3% | −4.0% | +0.1% | −1.6% | −4.6% |
| 2017 | +7.4% | −2.0% | +3.6% | +9.2% | +21.7% |
| 2016 | +12.2% | −4.2% | +2.4% | +1.2% | +12.0% |
| 2015 | −3.6% | −6.9% | +0.5% | −1.8% | +1.2% |
| 2014 | +7.4% | −2.5% | +6.0% | +27.3% | +13.5% |
| 2013 | −1.3% | −7.2% | −2.0% | −13.4% | +32.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
SPHY largest drawdowns
Now 2.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 20, 2020 | −22.0% | Mar 23, 2020 | Oct 8, 2020 | 32 days | 8 months |
| Dec 28, 2021 | −15.3% | Sep 27, 2022 | Dec 14, 2023 | 9 months | 2.0 years |
| Apr 16, 2015 | −8.3% | Feb 9, 2016 | Apr 25, 2016 | 10 months | 1.0 years |
| May 7, 2013 | −7.2% | Aug 21, 2013 | Feb 24, 2014 | 3 months | 10 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
SPHY risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2012 |
|---|---|---|---|---|
| Annualized return | +8.1% | +3.7% | +4.5% | +4.6% |
| Volatility (annualized) | 4.7% | 7.4% | 7.6% | 7.0% |
| Sharpe ratio | 0.77 | 0.05 | 0.32 | 0.46 |
| Sortino ratio | 1.37 | 0.07 | 0.43 | 0.64 |
| Best month | +4.5% | +6.5% | +6.5% | +6.5% |
| Worst month | −2.7% | −6.9% | −12.4% | −12.4% |
| Best 12 months | +16.2% | +16.2% | +24.8% | +24.8% |
| Worst 12 months | +1.3% | −13.9% | −13.9% | −13.9% |
| Positive months | 75% | 63% | 65% | 62% |
| Beta vs S&P 500 | 0.27 | 0.39 | 0.38 | — |
| Correlation with S&P 500 | 0.73 | 0.83 | 0.77 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
SPHY rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 161 | −13.9% | +5.8% | +24.8% | 78% |
| 3-year (a year) | 137 | −0.4% | +4.3% | +11.2% | 99% |
| 5-year (a year) | 113 | +1.2% | +4.3% | +7.6% | 100% |
| 10-year (a year) | 53 | +2.9% | +4.4% | +5.9% | 100% |
Every holding period starting at a month-end since 2012. Returns for 3 years and longer are annualized.
SPHY performance overview
SPDR Portfolio High Yield Bond (SPHY) returned +1.5% over the past year and +4.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2012 it has returned +4.7% a year, turning $10,000 into about $19,380. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −22.0%, from Feb 20, 2020 to Mar 23, 2020, and it took 7 months to get back to the old high. SPHY finished 9 of its 13 full calendar years with a gain; the best year was 2019 (+13.2%) and the worst 2022 (−10.6%). Volatility has been 7.0% a year.
Related: SPHY chart, SPHY dividends, SPHY bond profile. See the SPHY overview for the latest quote and fund facts.
SPHY performance FAQ
What is the SPHY return over the past year?
SPHY returned +1.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 5.5%.
What is the average annual return of SPHY?
SPHY has returned +3.8% a year over 5 years, +4.5% a year over 10 years, +4.7% a year since June 19, 2012 (total return, distributions reinvested).
How much would $10,000 invested in SPHY be worth?
$10,000 invested in SPHY at its first recorded close on June 19, 2012 would be worth about $19,380 on October 23, 2026 with distributions reinvested.
What was the worst year for SPHY?
The worst calendar year was 2022, with a total return of −10.6%. The best was 2019 at +13.2%.
What is the biggest drawdown of SPHY?
The largest peak-to-trough decline was −22.0% between February 20, 2020 and March 23, 2020. It recovered to the old high on October 8, 2020, 7 months after the bottom.
How volatile is SPHY?
Over the past 3 years SPHY had an annualized volatility of 4.7% and a Sharpe ratio of 0.77 (excess return over 1–3 month T-bills per unit of risk).