BSJS vs. SPHQ

Last updated Jun 4, 2026

BSJS (Invesco BulletShares 2028 High Yield Corporate Bond ETF) and SPHQ (Invesco S&P 500 Quality ETF) are both exchange-traded funds - BSJS is a High Yield Bonds fund tracking the Nasdaq BulletSharesUSD High Yield Corporate Bond 2028 Index, while SPHQ is a S&P 500 fund tracking the S&P 500 Quality Index. Both are passively managed. Over the past 5 years, BSJS returned 3.29%/yr vs 14.54%/yr for SPHQ. A 0.60 correlation means they provide meaningful diversification when combined. BSJS charges 0.42%/yr vs 0.15%/yr for SPHQ.

Performance

BSJS vs. SPHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2028 High Yield Corporate Bond ETF (BSJS) and Invesco S&P 500 Quality ETF (SPHQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSJS achieves a 1.67% return, which is significantly lower than SPHQ's 15.48% return.

BSJS

• 1D: -0.05%
• 1M: 0.61%
• YTD: 1.67%
• 6M: 2.13%
• 1Y: 6.48%
• 3Y*: 8.32%
• 5Y*: 3.29%
• 10Y*: —

SPHQ

• 1D: 0.28%
• 1M: 7.17%
• YTD: 15.48%
• 6M: 16.06%
• 1Y: 23.22%
• 3Y*: 22.41%
• 5Y*: 14.54%
• 10Y*: 15.01%

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

BSJS vs. SPHQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BSJS Invesco BulletShares 2028 High Yield Corporate Bond ETF	1.67%	8.31%	7.38%	12.28%	-13.69%	3.40%	4.05%
SPHQ Invesco S&P 500 Quality ETF	15.48%	13.25%	25.44%	24.83%	-15.76%	28.03%	9.48%

Correlation

The correlation between BSJS and SPHQ is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Sep 17, 2020	0.60

The correlation between BSJS and SPHQ has been stable across timeframes, ranging from 0.53 to 0.60 - a consistent structural relationship.

BSJS vs. SPHQ - Sectors Allocation Comparison

Sectors	BSJS	SPHQ
Healthcare	10.5%	8.4%
Industrials	9.1%	24.3%
Consumer Cyclical	7.5%	4.6%
Communication Services	5.5%	2.0%
Energy	5.4%	0.7%
Financial Services	4.6%	13.3%
Technology	4.5%	28.1%
Consumer Defensive	3.9%	15.4%
Real Estate	2.9%	-
Basic Materials	2.6%	2.2%
Utilities	1.2%	1.0%

Return for Risk

BSJS vs. SPHQ — Risk / Return Rank

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

BSJS

BSJS Risk / Return Rank: 78
BSJS Sharpe Ratio Rank: 69
BSJS Sortino Ratio Rank: 79
BSJS Omega Ratio Rank: 76
BSJS Calmar Ratio Rank: 78
BSJS Martin Ratio Rank: 88

SPHQ

SPHQ Risk / Return Rank: 54
SPHQ Sharpe Ratio Rank: 53
SPHQ Sortino Ratio Rank: 55
SPHQ Omega Ratio Rank: 49
SPHQ Calmar Ratio Rank: 52
SPHQ Martin Ratio Rank: 61

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.

BSJS vs. SPHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2028 High Yield Corporate Bond ETF (BSJS) and Invesco S&P 500 Quality ETF (SPHQ). 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.

	BSJS	SPHQ	Difference
Sharpe ratio: Return per unit of total volatility	2.29	1.85	+0.44
Sortino ratio: Return per unit of downside risk	3.56	2.69	+0.88
Omega ratio: Gain probability vs. loss probability	1.45	1.32	+0.14
Calmar ratio: Return relative to maximum drawdown	3.97	2.62	+1.35
Martin ratio: Return relative to average drawdown	19.33	11.17	+8.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BSJS vs. SPHQ - Sharpe Ratio Comparison

The current BSJS Sharpe Ratio is 2.29, which is comparable to the SPHQ Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of BSJS and SPHQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BSJS	SPHQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	1.85	+0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.89	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.53	-0.01

Drawdowns

BSJS vs. SPHQ - Drawdown Comparison

The maximum BSJS drawdown since its inception was -17.73%, smaller than the maximum SPHQ drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for BSJS and SPHQ.

Drawdown Indicators

	BSJS	SPHQ	Difference
Max Drawdown Largest peak-to-trough decline	-17.73%	-57.83%	+40.10%
Max Drawdown (1Y) Largest decline over 1 year	-1.64%	-8.90%	+7.26%
Max Drawdown (3Y) Largest decline over 3 years	-4.44%	-16.57%	+12.13%
Max Drawdown (5Y) Largest decline over 5 years	-17.73%	-25.04%	+7.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.60%	—
Current Drawdown Current decline from peak	-0.05%	0.00%	-0.05%
Average Drawdown Average peak-to-trough decline	-3.99%	-10.70%	+6.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	2.08%	-1.74%

Volatility

BSJS vs. SPHQ - Volatility Comparison

The current volatility for Invesco BulletShares 2028 High Yield Corporate Bond ETF (BSJS) is 0.72%, while Invesco S&P 500 Quality ETF (SPHQ) has a volatility of 3.49%. This indicates that BSJS experiences smaller price fluctuations and is considered to be less risky than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSJS	SPHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.72%	3.49%	-2.77%
Volatility (6M) Calculated over the trailing 6-month period	2.03%	10.18%	-8.15%
Volatility (1Y) Calculated over the trailing 1-year period	2.84%	12.62%	-9.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.39%	16.45%	-9.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.14%	17.86%	-10.72%

BSJS vs. SPHQ - Expense Ratio Comparison

BSJS has a 0.42% expense ratio, which is higher than SPHQ's 0.15% expense ratio.

Dividends

BSJS vs. SPHQ - Dividend Comparison

BSJS's dividend yield for the trailing twelve months is around 6.27%, more than SPHQ's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSJS Invesco BulletShares 2028 High Yield Corporate Bond ETF	6.27%	6.49%	7.04%	6.75%	5.82%	4.86%	0.75%	0.00%	0.00%	0.00%	0.00%	0.00%
SPHQ Invesco S&P 500 Quality ETF	1.04%	1.09%	1.15%	1.42%	1.85%	1.19%	1.55%	1.51%	1.85%	1.57%	1.67%	2.29%

Frequently Asked Questions

Can I hold both BSJS and SPHQ in my portfolio?

BSJS and SPHQ have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSJS or SPHQ?

SPHQ has higher volatility (3.49%) compared to BSJS (0.72%). In terms of maximum drawdown, BSJS dropped -17.73% vs SPHQ's -57.83%.

Which ETF is better, BSJS or SPHQ?

On 5-year performance, SPHQ leads with 14.54% vs 3.29% for BSJS. On fees, SPHQ is cheaper at 0.15% per year. On volatility, BSJS has been the lower-risk option at 0.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSJS or SPHQ?

Over the 5-year period, SPHQ has performed better with a 14.54% return vs 3.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSJS or SPHQ?

SPHQ is cheaper with a 0.15% expense ratio, compared with 0.42% for BSJS.

Which ETF pays a higher dividend yield, BSJS or SPHQ?

BSJS has the higher dividend yield at 6.27%, compared with 1.04% for SPHQ.

What is the main difference between BSJS and SPHQ?

BSJS is categorized as High Yield Bonds, while SPHQ is S&P 500. BSJS tracks Nasdaq BulletSharesUSD High Yield Corporate Bond 2028 Index, while SPHQ tracks S&P 500 Quality Index. Their fees differ too: 0.42% for BSJS and 0.15% for SPHQ.

Which has better risk-adjusted returns?

BSJS currently has the higher Sharpe Ratio (2.29 vs 1.85), 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.