HIO vs SPY
Comparison between Western Asset High Income Opportunity Fund Inc (HIO, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed HIO, delivering a return of +13.3% compared to +2.4%
HIO vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
HIO vs SPY - Historical Returns
Returns include dividend reinvestment.
HIO vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | HIO | SPY |
|---|---|---|
| 2026 | +1.51% | +8.26% |
| 2025 | +4.24% | +18.00% |
| 2024 | +11.22% | +25.59% |
| 2023 | +9.15% | +26.72% |
| 2022 | -16.61% | -18.64% |
| 2021 | +13.00% | +30.52% |
| 2020 | +6.07% | +17.28% |
| 2019 | +22.81% | +31.09% |
| 2018 | -8.66% | -5.24% |
| 2017 | +7.03% | +20.78% |
| 2016 | +17.18% | +13.59% |
| 2015 | -5.50% | +1.31% |
| 2014 | -3.52% | +14.56% |
| 2013 | -2.90% | +29.00% |
| 2012 | +12.31% | +14.17% |
| 2011 | +9.77% | +0.85% |
| 2010 | +11.29% | +13.14% |
| 2009 | +61.70% | +22.67% |
| 2008 | -26.06% | -36.25% |
| 2007 | -2.65% | +5.32% |
| 2006 | +22.13% | +13.85% |
| 2005 | -1.20% | +5.32% |
| 2004 | +2.18% | +10.75% |
| 2003 | +24.35% | +24.18% |
| 2002 | -7.05% | -22.42% |
| 2001 | -1.23% | -10.13% |
| 2000 | +11.80% | -8.84% |
| 1999 | -3.82% | +8.61% |
HIO vs SPY Drawdown Comparison
The maximum drawdown for HIO was -49.61%, occurring on Nov 20, 2008. Recovery took 554 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current HIO drawdown is -3.77%. The current SPY drawdown is -2.90%.
| Rank | HIO | SPY |
|---|---|---|
| #1 | -49.61% Jun 1, 2007 - Aug 12, 2009 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -40.57% Feb 20, 2020 - Aug 24, 2020 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -32.15% Feb 15, 2001 - Jun 12, 2003 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -26.19% Sep 9, 2021 - Sep 16, 2024 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -20.75% Jun 18, 2014 - Aug 18, 2016 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -16.72% Jan 20, 2004 - Nov 4, 2004 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -15.95% Jul 31, 2000 - Jan 10, 2001 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -15.05% May 12, 2011 - Jan 13, 2012 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -13.29% Mar 7, 2025 - Jul 1, 2025 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -13.25% Jan 2, 2018 - Jan 31, 2019 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -12.80% May 22, 2013 - May 8, 2014 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -11.36% Sep 24, 2012 - Jan 10, 2013 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -11.31% Apr 26, 2010 - Aug 9, 2010 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -10.95% Jun 13, 2003 - Dec 31, 2003 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -10.61% Nov 5, 1999 - May 31, 2000 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between HIO and SPY is 0.91 which considered as a very strong positive correlation - the stocks move almost identically together.
Dividend Comparison (1999 - 2026)
HIO vs SPY dividend yield comparison.
| Year | HIO | SPY |
|---|---|---|
| 2026 | 4.97% | 0.24% |
| 2025 | 11.48% | 1.07% |
| 2024 | 10.84% | 1.21% |
| 2023 | 9.90% | 1.40% |
| 2022 | 9.11% | 1.65% |
| 2021 | 7.02% | 1.20% |
| 2020 | 7.86% | 1.52% |
| 2019 | 6.91% | 1.75% |
| 2018 | 7.31% | 2.04% |
| 2017 | 7.04% | 1.80% |
| 2016 | 8.44% | 2.03% |
| 2015 | 9.08% | 2.06% |
| 2014 | 8.06% | 1.87% |
| 2013 | 8.55% | 1.81% |
| 2012 | 7.81% | 2.18% |
| 2011 | 8.47% | 2.05% |
| 2010 | 9.70% | 1.80% |
| 2009 | 10.33% | 1.95% |
| 2008 | 14.47% | 3.02% |
| 2007 | 9.08% | 1.85% |
| 2006 | 9.04% | 1.73% |
| 2005 | 9.44% | 1.73% |
| 2004 | 8.93% | 1.82% |
| 2003 | 9.94% | 1.47% |
| 2002 | 12.25% | 1.70% |
| 2001 | 14.16% | 1.25% |
| 2000 | 11.14% | 1.15% |
| 1999 | 1.88% | 0.24% |
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