NHYB vs SPY
Nuveen High Yield Corporate Bond ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, NHYB or SPY?
High Yield Bond against Large Cap Blend.
NHYB has a lower expense ratio. SPY 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 | NHYB | SPY |
|---|---|---|
| Expense Ratio | 0.08%Best | 0.09% |
| AUM | $1.8B | $823.2B |
| Dividend Yield | 6.20% | 0.99% |
| Holdings | 1,673 | 1,515 |
| YTD Return | +0.30% | +13.53%Best |
| 1Y Return | +1.96% | +17.47%Best |
| 3Y Return (annualized) | - | +22.36% |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 4.0%Best | 12.6% |
| Max Drawdown | -3.0%Best | -8.9% |
| $10,000 over 1.1 years | $10,182 | $11,851Best |
| Fund Family | Nuveen | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | High Yield Bond | Large Cap Blend |
| Inception | Sep 23, 2025 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.1 years row, are measured over the window both funds cover: Sep 24, 2025 to Oct 14, 2026 (1.1 years).
NHYB vs SPY 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 1.1 years both funds cover.
NHYB vs SPY Performance
Nuveen High Yield Corporate Bond ETF (NHYB) is an ETF from Nuveen and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year NHYB returned +1.96% while SPY returned +17.47%. Year to date, NHYB is up 0.30% versus a gain of 13.53% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.6% compared with 4.0% for NHYB. 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 -3.0% for NHYB and -8.9% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.57. They move together some of the time, and apart the rest.
Fees and Cost Over Time
NHYB charges 0.08% per year while SPY charges 0.09%. On a $10,000 position that is $8 vs $9 annually, a gap of $1 per year that compounds over a long holding period. On income, NHYB currently yields 6.20% against 0.99% for SPY.
Holdings Overlap
We hold position weights for 1,263 holdings in NHYB and 504 in SPY, totalling 72.8% and 99.8% 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 1,263 positions we hold weights for in NHYB and 504 in SPY, against full books of 1,673 and 1,515.
You are not choosing between two funds in isolation.
Whichever of NHYB and SPY 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, NHYB or SPY?
NHYB has an expense ratio of 0.08% while SPY charges 0.09%. NHYB is the cheaper option, by $1 a year on a $10,000 investment.
Which performed better, NHYB or SPY?
Over the past year NHYB returned +1.96% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), NHYB annualized +1.65% vs +16.69% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NHYB or SPY?
SPY has been the more volatile fund at 12.6% annualized versus 4.0% for NHYB. Worst drawdown: NHYB -3.0% vs SPY -8.9%.
Should I hold both NHYB and SPY?
NHYB and SPY have a monthly-return correlation of 0.57, 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, NHYB or SPY?
NHYB yields 6.20% while SPY yields 0.99%, so NHYB currently pays the higher dividend yield.
Is SPY better than NHYB?
NHYB has a lower expense ratio. SPY 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.