BSJR vs. PSH

Last updated Jun 19, 2026

BSJR (Invesco BulletShares 2027 High Yield Corporate Bond ETF) and PSH (PGIM Short Duration High Yield ETF) are both High Yield Bonds funds. BSJR is passively managed, while PSH is actively managed. Over the past year, BSJR returned 4.64% vs 6.29% for PSH. A 0.76 correlation means they provide meaningful diversification when combined. BSJR charges 0.42%/yr vs 0.45%/yr for PSH.

Performance

BSJR vs. PSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2027 High Yield Corporate Bond ETF (BSJR) and PGIM Short Duration High Yield ETF (PSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSJR achieves a 1.34% return, which is significantly lower than PSH's 2.28% return.

BSJR

• 1D: 0.18%
• 1M: 0.47%
• YTD: 1.34%
• 6M: 1.63%
• 1Y: 4.64%
• 3Y*: 7.71%
• 5Y*: 3.35%
• 10Y*: —

PSH

• 1D: 0.13%
• 1M: 0.93%
• YTD: 2.28%
• 6M: 2.52%
• 1Y: 6.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BSJR vs. PSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BSJR Invesco BulletShares 2027 High Yield Corporate Bond ETF	1.34%	7.41%	7.15%	0.49%
PSH PGIM Short Duration High Yield ETF	2.28%	7.34%	7.96%	0.35%

Correlation

The correlation between BSJR and PSH is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (All Time) Calculated using the full available price history since Dec 19, 2023	0.76

The correlation between BSJR and PSH has been stable across timeframes, ranging from 0.69 to 0.76 - a consistent structural relationship.

Return for Risk

BSJR vs. PSH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BSJR

BSJR Risk / Return Rank: 82
BSJR Sharpe Ratio Rank: 75
BSJR Sortino Ratio Rank: 83
BSJR Omega Ratio Rank: 81
BSJR Calmar Ratio Rank: 81
BSJR Martin Ratio Rank: 89

PSH

PSH Risk / Return Rank: 78
PSH Sharpe Ratio Rank: 69
PSH Sortino Ratio Rank: 80
PSH Omega Ratio Rank: 81
PSH Calmar Ratio Rank: 86
PSH Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BSJR vs. PSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2027 High Yield Corporate Bond ETF (BSJR) and PGIM Short Duration High Yield ETF (PSH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BSJR	PSH	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.11	+0.13
Sortino ratio: Return per unit of downside risk	3.44	3.30	+0.14
Omega ratio: Gain probability vs. loss probability	1.45	1.45	0.00
Calmar ratio: Return relative to maximum drawdown	4.01	4.46	-0.45
Martin ratio: Return relative to average drawdown	18.30	13.19	+5.11

BSJR vs. PSH - Sharpe Ratio Comparison

The current BSJR Sharpe Ratio is 2.23, which is comparable to the PSH Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of BSJR and PSH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BSJR vs. PSH - Drawdown Comparison

The maximum BSJR drawdown since its inception was -22.58%, which is greater than PSH's maximum drawdown of -3.06%. Use the drawdown chart below to compare losses from any high point for BSJR and PSH.

Drawdown Indicators

	BSJR	PSH	Difference
Max Drawdown Largest peak-to-trough decline	-22.58%	-3.06%	-19.52%
Max Drawdown (1Y) Largest decline over 1 year	-1.16%	-1.42%	+0.26%
Max Drawdown (3Y) Largest decline over 3 years	-3.15%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.37%	—	—
Current Drawdown Current decline from peak	-0.04%	0.00%	-0.04%
Average Drawdown Average peak-to-trough decline	-3.23%	-0.26%	-2.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.25%	0.48%	-0.23%

Volatility

BSJR vs. PSH - Volatility Comparison

Invesco BulletShares 2027 High Yield Corporate Bond ETF (BSJR) has a higher volatility of 0.65% compared to PGIM Short Duration High Yield ETF (PSH) at 0.61%. This indicates that BSJR's price experiences larger fluctuations and is considered to be riskier than PSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSJR	PSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.65%	0.61%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	1.51%	2.12%	-0.61%
Volatility (1Y) Calculated over the trailing 1-year period	2.09%	3.00%	-0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.73%	3.24%	+3.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.34%	3.24%	+6.10%

BSJR vs. PSH - Expense Ratio Comparison

BSJR has a 0.42% expense ratio, which is lower than PSH's 0.45% expense ratio.

Dividends

BSJR vs. PSH - Dividend Comparison

BSJR's dividend yield for the trailing twelve months is around 5.74%, less than PSH's 6.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BSJR Invesco BulletShares 2027 High Yield Corporate Bond ETF	5.74%	6.19%	6.75%	6.48%	5.37%	4.49%	4.53%	1.20%
PSH PGIM Short Duration High Yield ETF	6.64%	6.62%	8.35%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BSJR and PSH in my portfolio?

BSJR and PSH have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSJR or PSH?

BSJR has higher volatility (0.65%) compared to PSH (0.61%). In terms of maximum drawdown, BSJR dropped -22.58% vs PSH's -3.06%.

Which ETF is better, BSJR or PSH?

On 1-year performance, PSH leads with 6.29% vs 4.64% for BSJR. On fees, BSJR is cheaper at 0.42% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSJR or PSH?

Over the 1-year period, PSH has performed better with a 6.29% return vs 4.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSJR or PSH?

BSJR is cheaper with a 0.42% expense ratio, compared with 0.45% for PSH.

Which ETF pays a higher dividend yield, BSJR or PSH?

PSH has the higher dividend yield at 6.64%, compared with 5.74% for BSJR.

What is the main difference between BSJR and PSH?

They also come from different issuers: Invesco and PGIM. Their fees differ too: 0.42% for BSJR and 0.45% for PSH.

Which has better risk-adjusted returns?

BSJR currently has the higher Sharpe Ratio (2.23 vs 2.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.