HYI vs SMTH
Western Asset High Yield Defined Opportunity Fund Inc. vs ALPS Smith Core Plus Bond ETF
Which is better, HYI or SMTH?
SMTH has been ahead.
SMTH has a lower expense ratio. SMTH led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HYI | SMTH |
|---|---|---|
| Expense Ratio | 0.96% | 0.59%Best |
| AUM | $140M | $3.6B |
| Dividend Yield | 10.36% | 4.48% |
| Holdings | 258 | 921 |
| YTD Return | -6.61% | -2.50%Best |
| 1Y Return | -6.95% | -2.47%Best |
| 3Y Return (annualized) | +4.97% | - |
| 5Y Return (annualized) | -0.55% | - |
| Volatility (annualized) | 6.8% | 4.2%Best |
| Max Drawdown | -14.6% | -4.7%Best |
| $10,000 over 2.9 years | $10,767 | $11,089Best |
| Fund Family | Franklin Templeton Investments (US) | ALPS Advisors |
| Category | Fixed Income | Fixed Income |
| Style | High Yield Bond | High Yield Bond |
| Inception | Oct 27, 2010 | Dec 5, 2023 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Dec 6, 2023 to Oct 14, 2026 (2.9 years).
HYI vs SMTH growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.9 years both funds cover.
HYI vs SMTH Performance
Western Asset High Yield Defined Opportunity Fund Inc. (HYI) is an ETF from Franklin Templeton Investments (US) and ALPS Smith Core Plus Bond ETF (SMTH) is an ETF from ALPS Advisors. Over the past year HYI returned -6.95% while SMTH returned -2.47%. Year to date, HYI is down 6.61% versus a loss of 2.50% for SMTH.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HYI has been the more volatile fund, with annualized monthly volatility of 6.8% compared with 4.2% for SMTH. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -14.6% for HYI and -4.7% for SMTH. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.65. They move together some of the time, and apart the rest.
Fees and Cost Over Time
HYI charges 0.96% per year while SMTH charges 0.59%. On a $10,000 position that is $96 vs $59 annually, a gap of $37 per year that compounds over a long holding period. On income, HYI currently yields 10.36% against 4.48% for SMTH.
Holdings Overlap
We hold position weights for 18 holdings in HYI and 147 in SMTH, totalling 3.5% and 30.2% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 18 positions we hold weights for in HYI and 147 in SMTH, against full books of 258 and 921.
You are not choosing between two funds in isolation.
Whichever of HYI and SMTH you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HYI or SMTH?
HYI has an expense ratio of 0.96% while SMTH charges 0.59%. SMTH is the cheaper option, by $37 a year on a $10,000 investment.
Which performed better, HYI or SMTH?
Over the past year HYI returned -6.95% vs -2.47% for SMTH, so SMTH leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HYI or SMTH?
HYI has been the more volatile fund at 6.8% annualized versus 4.2% for SMTH. Worst drawdown: HYI -14.6% vs SMTH -4.7%.
Should I hold both HYI and SMTH?
HYI and SMTH have a monthly-return correlation of 0.65, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, HYI or SMTH?
HYI yields 10.36% while SMTH yields 4.48%, so HYI currently pays the higher dividend yield.
Is SMTH better than HYI?
SMTH has a lower expense ratio. SMTH led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.