HYGW vs SPHY
iShares High Yield Corporate Bond Buywrite Strategy ETF compared with State Street SPDR Portfolio High Yield Bond ETF on yield, payout growth, payment schedule, cost and risk.
HYGW
iShares High Yield Corporate Bond Buywrite Strategy ETF
TTM yield · Monthly
SPHY
State Street SPDR Portfolio High Yield Bond ETF
TTM yield · Monthly
Quick take
- HYGW yields more today: 11.12% vs 7.42% (forward).
- Both pay every month.
- Over the last year HYGW delivered the higher total return: +2.5% vs +0.9% (price change plus payouts).
- SPHY is cheaper to own: 0.05% vs 0.69% expense ratio.
- SPHY has the steadier distribution: consistency 99/100 vs 67/100.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | HYGW | SPHY |
|---|---|---|
| Share price | $28.02 | $22.49 |
| TTM yield | 11.12% | 7.42% |
| Forward yield | 11.12% | 7.42% |
| Annual payout per share | $3.116 | $1.668 |
| Payment frequency | Monthly | Monthly |
| Next ex-date | Nov 1, 2026 (est.) | Oct 31, 2026 (est.) |
| Expense ratio | 0.69% | 0.05% |
| 1-year payout growth | — | — |
| 5-year payout CAGR | — | — |
| Consecutive years of increases | — | — |
| Payout consistency (last 12) | 67/100 | 99/100 |
| 1-year total return | +2.5% | +0.9% |
| 1-year price return | -7.7% | -6.1% |
| Size (market cap / AUM) | 108.8M | 11.7B |
| Years paying | 4.1 | 14.3 |
| Sector / category | High Yield Bond | High Yield Bond |
✓ marks the more favourable figure where one exists (higher yield, growth, streak, consistency, return and size; lower cost, payout ratio and risk).
$10,000 invested today
| HYGW | SPHY | |
|---|---|---|
| Shares | 356.9 | 444.6 |
| Income per year | $1,112 | $742 |
| Income per month (avg) | $93 | $62 |
At forward yields, before taxes. Model HYGW · Model SPHY
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| HYGW Nov 1, 2026 | Nov 15, 2026 | $0.2597 | Est. |
| HYGW Dec 1, 2026 | Dec 15, 2026 | $0.2597 | Est. |
| HYGW Dec 31, 2026 | Jan 14, 2027 | $0.2597 | Est. |
| SPHY Oct 31, 2026 | Nov 14, 2026 | $0.139 | Est. |
| SPHY Nov 30, 2026 | Dec 14, 2026 | $0.139 | Est. |
| SPHY Dec 30, 2026 | Jan 13, 2027 | $0.139 | Est. |
Annual payouts per share
HYGWSPHY
Regular payments only; the current year is year to date. Per-share amounts are not directly comparable when share prices differ, so read this chart for growth trends.
FAQ
Which has the higher dividend yield, HYGW or SPHY?
HYGW currently has the higher trailing yield: HYGW yields 11.12% and SPHY yields 7.42%. Yield changes daily with price, so check the live figures above.
How often do HYGW and SPHY pay?
HYGW pays every month and SPHY pays every month. HYGW's next ex-date is Nov 1, 2026 and SPHY's is Oct 31, 2026.
Is HYGW or SPHY better for income?
It depends on what you are optimising for. HYGW and SPHY differ in yield, growth, payment schedule and risk profile; the table above puts every metric side by side so you can weigh them for your own goals. This page is data, not advice.