BSJV vs. SPY

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco BulletShares 2031 High Yield Corporate Bond ETF (BSJV) and State Street SPDR S&P 500 ETF (SPY).

BSJV and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BSJV is a passively managed fund by Invesco that tracks the performance of the NASDAQ BulletShares USD Corporate Bond 2031. It was launched on Sep 11, 2023. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both BSJV and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

BSJV vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2031 High Yield Corporate Bond ETF (BSJV) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

BSJV vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BSJV Invesco BulletShares 2031 High Yield Corporate Bond ETF	-1.14%	9.50%	5.66%	7.24%
SPY State Street SPDR S&P 500 ETF	-4.37%	17.72%	24.89%	8.80%

Returns By Period

In the year-to-date period, BSJV achieves a -1.14% return, which is significantly higher than SPY's -4.37% return.

BSJV

• 1D: 1.07%
• 1M: -1.61%
• YTD: -1.14%
• 6M: 0.18%
• 1Y: 6.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: 2.91%
• 1M: -4.94%
• YTD: -4.37%
• 6M: -1.82%
• 1Y: 17.59%
• 3Y*: 18.19%
• 5Y*: 11.69%
• 10Y*: 13.98%

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

BSJV vs. SPY - Expense Ratio Comparison

BSJV has a 0.42% expense ratio, which is higher than SPY's 0.09% expense ratio.

BSJV

Invesco BulletShares 2031 High Yield Corporate Bond ETF

SPY

State Street SPDR S&P 500 ETF

Return for Risk

BSJV vs. SPY — Risk / Return Rank

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

BSJV

BSJV Risk / Return Rank: 61
BSJV Sharpe Ratio Rank: 59
BSJV Sortino Ratio Rank: 58
BSJV Omega Ratio Rank: 61
BSJV Calmar Ratio Rank: 58
BSJV Martin Ratio Rank: 68

SPY

SPY Risk / Return Rank: 64
SPY Sharpe Ratio Rank: 56
SPY Sortino Ratio Rank: 60
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 65
SPY Martin Ratio Rank: 75

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.

BSJV vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2031 High Yield Corporate Bond ETF (BSJV) and State Street SPDR S&P 500 ETF (SPY). 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.

	BSJV	SPY	Difference
Sharpe ratio Return per unit of total volatility	1.05	0.93	+0.12
Sortino ratio Return per unit of downside risk	1.52	1.45	+0.07
Omega ratio Gain probability vs. loss probability	1.23	1.22	0.00
Calmar ratio Return relative to maximum drawdown	1.49	1.53	-0.03
Martin ratio Return relative to average drawdown	6.98	7.30	-0.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BSJV vs. SPY - Sharpe Ratio Comparison

The current BSJV Sharpe Ratio is 1.05, which is comparable to the SPY Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of BSJV and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BSJV	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	0.93	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	0.56	+0.79

Correlation

The correlation between BSJV and SPY is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BSJV vs. SPY - Dividend Comparison

BSJV's dividend yield for the trailing twelve months is around 6.63%, more than SPY's 1.14% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSJV Invesco BulletShares 2031 High Yield Corporate Bond ETF	6.63%	6.52%	6.67%	1.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.14%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Drawdowns

BSJV vs. SPY - Drawdown Comparison

The maximum BSJV drawdown since its inception was -5.22%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BSJV and SPY.

Drawdown Indicators

	BSJV	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-5.22%	-55.19%	+49.97%
Max Drawdown (1Y) Largest decline over 1 year	-4.47%	-12.05%	+7.58%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-2.03%	-6.24%	+4.21%
Average Drawdown Average peak-to-trough decline	-0.81%	-9.09%	+8.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	2.52%	-1.56%

Volatility

BSJV vs. SPY - Volatility Comparison

The current volatility for Invesco BulletShares 2031 High Yield Corporate Bond ETF (BSJV) is 2.57%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that BSJV experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSJV	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	5.31%	-2.74%
Volatility (6M) Calculated over the trailing 6-month period	3.37%	9.47%	-6.10%
Volatility (1Y) Calculated over the trailing 1-year period	6.33%	19.05%	-12.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.28%	17.06%	-10.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.28%	17.92%	-11.64%