SPHY - State Street SPDR Portfolio High Yield Bond ETF
The State Street SPDR Portfolio High Yield Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the ICE BofA US High Yield Index (the "Index"). One of the low cost core State Street SPDR Portfolio ETFs, a suite of portfolio building blocks designed to provide broad, diversified exposure to core asset classes. A low cost ETF that seeks to offer exposure to over a trillion dollars of USD-denominated high yield debt.
As of May 15, 2026: spot at $23.30, ATM IV 433.0%, max pain $23.00, net GEX -$4.2K.
- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Market Cap
- $10.54B
- Beta
- 0.64
- 52-Week Range
- 23.02-23.99
- Dividend Yield
- $1.70
- IPO Date
- Jun 19, 2012
- Exchange
- AMEX
What SPHY Looks Like to Options Traders Today
IV rank of 100.0% signals elevated pricing relative to the 1-year history, conditions that typically favor premium-selling structures (credit spreads, iron condors, covered calls); negative net gamma exposure (-$4.2K) means dealers hedge with trend, amplifying realized volatility and accelerating directional moves; the 25-delta skew (0.016) is roughly flat across the wings.
What This Page Covers
The SPHY overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks. Microstructure data is available on short interest, short volume, fail-to-deliver, and market structure.
Frequently asked SPHY overview questions
- What is SPHY?
- SPHY is the ticker symbol for State Street SPDR Portfolio High Yield Bond ETF, an listed exchange-traded fund. The State Street SPDR Portfolio High Yield Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the ICE BofA US High Yield Index (the "Index"). One of the low cost core State Street SPDR Portfolio ETFs, a suite of portfolio building blocks designed to provide broad, diversified exposure to core asset classes. Listed on AMEX. SPHY is the ETF ticker shown on this page; ETF traders use the fund for diversified exposure to its underlying basket, for sector and factor rotation, and for hedging or replication strategies via the listed options chain.
- What does the SPHY options snapshot look like today?
- As of May 15, 2026, the SPHY options snapshot shows spot at $23.30, ATM IV 433.0%, IV rank 100.0%, max pain $23.00, net GEX -$4.2K, expected move 124.14%. The full options chain, Greeks by strike and expiration, per-strike open-interest distribution, dealer gamma and delta exposure, and the volatility skew surface are linked from this overview page. Each per-metric route refreshes once per trading session and reflects the most recent close-of-business listed-options state.
- What are SPHY's key statistics?
- State Street SPDR Portfolio High Yield Bond ETF (SPHY) carries a market capitalization of $10.54B, 52-week range of 23.02-23.99. Full holdings disclosure, expense ratio, and tracking-error history live on the per-ticker fundamentals page or the sponsor's site; daily NAV and premium/discount-to-NAV are accessible from the same view. These structural inputs frame how the ETF options market prices implied volatility relative to its constituents.
- What sector or industry does SPHY belong to?
- State Street SPDR Portfolio High Yield Bond ETF operates in the Financial Services sector, in the Asset Management - Bonds industry. Sector classification affects how the ticker correlates with sector ETFs, how it reacts to macro factors like rate moves and commodity prices, and how its options pricing compares to sector peers. Compare SPHY's implied volatility and skew against sector benchmarks to gauge whether the options market is pricing single-name or systemic risk relative to the broader peer group.
- How current is the SPHY data on this page?
- The options snapshot above is dated May 15, 2026 and refreshes once per session, with all per-strike Greeks and exposure aggregates recomputed at the daily close. Fund-level fields (sponsor, expense ratio, holdings concentration where available) refresh from the vendor feed nightly. ETF-specific filings (N-CSR, N-PX, N-CEN) update on the SEC EDGAR cadence. FINRA microstructure data refreshes on the source's cadence; for ETFs the off-exchange volume signal is dominated by authorized-participant creation and redemption rather than directional flow.