HYG vs SPY

Comparison between ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF (HYG, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed HYG, delivering a return of +13.3% compared to +3.8%

HYG vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	HYG(ETF)	SPY(ETF)
Net Assets	$16B	$652B
Expense Ratio	0.49%	0.09%
Max Drawdown	41.90%	56.47%
Sharpe Ratio	1.10	2.07
5Y Beta	0.24	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	4.66%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

HYG

$16B

Winner

SPY

$652B

Expense Ratio

HYG

0.49%

Winner

SPY

0.09%

Max Drawdown

Winner

HYG

41.90%

SPY

56.47%

Sharpe Ratio

HYG

1.10

Winner

SPY

2.07

5Y Beta

Winner

HYG

0.24

SPY

1.00

P/E Ratio

HYG

N/A

SPY

28.24

Forward P/E

HYG

N/A

SPY

21.85

5Y Dividends CAGR

HYG

4.66%

Winner

SPY

5.43%

5Y EPS CAGR

HYG

N/A

SPY

25.79%

Debt to Equity

HYG

N/A

SPY

22.35%

P/S Ratio

HYG

N/A

SPY

3.55

P/B Ratio

HYG

N/A

SPY

5.29

HYG vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	HYG	SPY
1 month	+0.46%	+9.11%
3 months	+0.53%	+6.59%
6 months	+2.72%	+10.56%
1 year	+8.22%	+32.04%
5 years(CAGR)	+3.83%	+13.35%
10 years(CAGR)	+5.14%	+15.49%
Max(CAGR)	+4.98%	+8.50%

HYG

+0.46%

Winner

SPY

+9.11%

HYG

+0.53%

Winner

SPY

+6.59%

HYG

+2.72%

Winner

SPY

+10.56%

HYG

+8.22%

Winner

SPY

+32.04%

5Y(CAGR)

HYG

+3.83%

Winner

SPY

+13.35%

10Y(CAGR)

HYG

+5.14%

Winner

SPY

+15.49%

Max(CAGR)

HYG

+4.98%

Winner

SPY

+8.50%

HYG vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	HYG	SPY
2026	+1.34%	+8.27%
2025	+8.34%	+18.00%
2024	+8.33%	+25.59%
2023	+11.32%	+26.72%
2022	-10.95%	-18.64%
2021	+3.96%	+30.52%
2020	+4.04%	+17.28%
2019	+14.24%	+31.09%
2018	-2.11%	-5.24%
2017	+5.63%	+20.78%
2016	+14.09%	+13.59%
2015	-5.03%	+1.31%
2014	+1.72%	+14.56%
2013	+4.77%	+29.00%
2012	+11.30%	+14.17%
2011	+6.68%	+0.85%
2010	+11.02%	+13.14%
2009	+28.98%	+22.67%
2008	-16.57%	-36.25%
2007	+1.62%	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

HYG vs SPY Drawdown Comparison

The maximum drawdown for HYG was -34.28%, occurring on Nov 20, 2008. Recovery took 556 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current HYG drawdown is -0.11%.

Rank	HYG	SPY
#1	-34.28% Sep 19, 2007 - Dec 2, 2009	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-22.03% Feb 13, 2020 - Nov 4, 2020	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-15.79% Dec 27, 2021 - Mar 7, 2024	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-13.44% Apr 15, 2015 - Jul 8, 2016	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-10.05% Jul 22, 2011 - Oct 24, 2011	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-8.38% May 25, 2007 - Sep 18, 2007	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-7.90% Oct 27, 2011 - Dec 23, 2011	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-7.07% Apr 23, 2010 - Jul 20, 2010	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-7.05% May 8, 2013 - Nov 29, 2013	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-6.42% Jun 25, 2014 - Apr 15, 2015	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-6.41% Oct 1, 2018 - Jan 31, 2019	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-6.05% Jan 8, 2010 - Mar 16, 2010	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-4.56% May 18, 2011 - Jul 7, 2011	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-4.56% Feb 28, 2025 - May 12, 2025	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-4.50% May 2, 2012 - Jun 29, 2012	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between HYG and SPY is 0.93 which considered as a very strong positive correlation - the stocks move almost identically together.

0.93

-101

Dividend Comparison (1999 - 2026)

HYG vs SPY dividend yield comparison.

Year	HYG	SPY
2026	1.99%	0.24%
2025	5.71%	1.07%
2024	6.01%	1.21%
2023	5.74%	1.40%
2022	5.30%	1.65%
2021	4.02%	1.20%
2020	4.88%	1.52%
2019	4.99%	1.75%
2018	5.54%	2.04%
2017	5.12%	1.80%
2016	5.27%	2.03%
2015	5.90%	2.06%
2014	5.69%	1.87%
2013	6.10%	1.81%
2012	6.60%	2.18%
2011	7.51%	2.05%
2010	8.25%	1.80%
2009	9.48%	1.95%
2008	10.08%	3.02%
2007	5.23%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%