BSJV vs. SPY

Last updated Jun 3, 2026

BSJV (Invesco BulletShares 2031 High Yield Corporate Bond ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - BSJV is a High Yield Bonds fund tracking the NASDAQ BulletShares USD Corporate Bond 2031, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, BSJV returned 7.11% vs 29.62% for SPY. A 0.66 correlation means they provide meaningful diversification when combined. BSJV charges 0.42%/yr vs 0.09%/yr for SPY.

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.

Returns By Period

In the year-to-date period, BSJV achieves a 1.22% return, which is significantly lower than SPY's 11.69% return.

BSJV

• 1D: 0.10%
• 1M: 0.49%
• YTD: 1.22%
• 6M: 2.16%
• 1Y: 7.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: 0.14%
• 1M: 5.40%
• YTD: 11.69%
• 6M: 12.09%
• 1Y: 29.62%
• 3Y*: 22.64%
• 5Y*: 14.20%
• 10Y*: 15.57%

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

BSJV vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BSJV Invesco BulletShares 2031 High Yield Corporate Bond ETF	1.22%	9.50%	5.66%	7.24%
SPY State Street SPDR S&P 500 ETF	11.69%	17.72%	24.89%	8.80%

Correlation

The correlation between BSJV and SPY is 0.73, 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	0.73
Correlation (All Time) Calculated using the full available price history since Sep 21, 2023	0.66

The correlation between BSJV and SPY has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.

BSJV vs. SPY - Sectors Allocation Comparison

Sectors	BSJV	SPY
Consumer Cyclical	7.5%	10.3%
Industrials	6.8%	7.8%
Energy	6.3%	3.6%
Healthcare	4.5%	8.4%
Financial Services	4.3%	11.8%
Basic Materials	3.5%	1.8%
Real Estate	2.8%	1.9%
Communication Services	2.5%	11.3%
Technology	2.5%	35.9%
Utilities	2.1%	2.4%
Consumer Defensive	1.0%	4.8%

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: 48
BSJV Sharpe Ratio Rank: 46
BSJV Sortino Ratio Rank: 49
BSJV Omega Ratio Rank: 49
BSJV Calmar Ratio Rank: 44
BSJV Martin Ratio Rank: 54

SPY

SPY Risk / Return Rank: 75
SPY Sharpe Ratio Rank: 77
SPY Sortino Ratio Rank: 75
SPY Omega Ratio Rank: 76
SPY Calmar Ratio Rank: 68
SPY Martin Ratio Rank: 80

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	1.64	2.52	-0.88
Sortino ratio Return per unit of downside risk	2.43	3.42	-0.98
Omega ratio Gain probability vs. loss probability	1.31	1.46	-0.15
Calmar ratio Return relative to maximum drawdown	2.20	3.42	-1.21
Martin ratio Return relative to average drawdown	9.49	15.93	-6.44
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 1.64, which is lower than the SPY Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of BSJV and SPY, 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

	BSJV	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	2.52	-0.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.84	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.44	0.59	+0.85

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	-3.21%	-8.88%	+5.67%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.76%	—
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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.79%	-9.05%	+8.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	1.91%	-1.16%

Volatility

BSJV vs. SPY - Volatility Comparison

The current volatility for Invesco BulletShares 2031 High Yield Corporate Bond ETF (BSJV) is 1.23%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 2.75%. 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	1.23%	2.75%	-1.52%
Volatility (6M) Calculated over the trailing 6-month period	3.32%	8.89%	-5.57%
Volatility (1Y) Calculated over the trailing 1-year period	4.36%	11.81%	-7.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.17%	17.05%	-10.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.17%	17.94%	-11.77%

BSJV vs. SPY - Expense Ratio Comparison

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

Dividends

BSJV vs. SPY - Dividend Comparison

BSJV's dividend yield for the trailing twelve months is around 6.57%, more than SPY's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSJV Invesco BulletShares 2031 High Yield Corporate Bond ETF	6.57%	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	0.97%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both BSJV and SPY in my portfolio?

BSJV and SPY have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSJV or SPY?

SPY has higher volatility (2.75%) compared to BSJV (1.23%). In terms of maximum drawdown, BSJV dropped -5.22% vs SPY's -55.19%.

Which ETF is better, BSJV or SPY?

On 1-year performance, SPY leads with 29.62% vs 7.11% for BSJV. On fees, SPY is cheaper at 0.09% per year. On volatility, BSJV has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSJV or SPY?

Over the 1-year period, SPY has performed better with a 29.62% return vs 7.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSJV or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.42% for BSJV.

Which ETF pays a higher dividend yield, BSJV or SPY?

BSJV has the higher dividend yield at 6.57%, compared with 0.97% for SPY.

What is the main difference between BSJV and SPY?

BSJV is categorized as High Yield Bonds, while SPY is S&P 500. BSJV tracks NASDAQ BulletShares USD Corporate Bond 2031, while SPY tracks S&P 500 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.42% for BSJV and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.52 vs 1.64), 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.