CLIP vs. SJB
CLIP (Global X 1-3 Month T-Bill ETF) and SJB (ProShares Short High Yield) are both exchange-traded funds - CLIP is a Ultrashort Bond fund tracking the Solactive 1-3 month US T-Bill Index - USD, while SJB is a Inverse Bonds fund tracking the iBoxx $ Liquid High Yield Index (-100%). Both are passively managed. Over the past year, CLIP returned 3.96% vs -0.44% for SJB. At a 0.01 correlation, their price movements are largely independent. CLIP charges 0.07%/yr vs 0.95%/yr for SJB.
Performance
CLIP vs. SJB - Performance Comparison
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Returns By Period
In the year-to-date period, CLIP achieves a 1.50% return, which is significantly higher than SJB's 0.67% return.
CLIP
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.50%
- 6M
- 1.82%
- 1Y
- 3.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SJB
- 1D
- 0.20%
- 1M
- -0.20%
- YTD
- 0.67%
- 6M
- 0.75%
- 1Y
- -0.44%
- 3Y*
- -1.91%
- 5Y*
- -0.54%
- 10Y*
- -3.85%
CLIP vs. SJB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CLIP Global X 1-3 Month T-Bill ETF | 1.50% | 4.23% | 5.26% | 2.82% |
SJB ProShares Short High Yield | 0.67% | -1.87% | -0.84% | -4.06% |
Correlation
The correlation between CLIP and SJB is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023 | 0.01 |
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Return for Risk
CLIP vs. SJB — Risk / Return Rank
CLIP
SJB
CLIP vs. SJB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X 1-3 Month T-Bill ETF (CLIP) and ProShares Short High Yield (SJB). 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.
| CLIP | SJB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +17.37 | ||
| Sortino ratioReturn per unit of downside risk | +72.16 | ||
| Omega ratioGain probability vs. loss probability | 20.66 | 0.98 | +19.68 |
| Calmar ratioReturn relative to maximum drawdown | 142.22 | -0.16 | +142.39 |
| Martin ratioReturn relative to average drawdown | 1,151.15 | -0.31 | +1,151.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CLIP | SJB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 17.26 | -0.12 | +17.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.07 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.45 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 10.71 | -0.60 | +11.31 |
Drawdowns
CLIP vs. SJB - Drawdown Comparison
The maximum CLIP drawdown since its inception was -0.08%, smaller than the maximum SJB drawdown of -58.06%. Use the drawdown chart below to compare losses from any high point for CLIP and SJB.
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Drawdown Indicators
| CLIP | SJB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.08% | -58.06% | +57.98% |
Max Drawdown (1Y)Largest decline over 1 year | -0.03% | -2.74% | +2.71% |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.54% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.57% | — |
Current DrawdownCurrent decline from peak | 0.00% | -57.42% | +57.42% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -42.47% | +42.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 1.44% | -1.44% |
Volatility
CLIP vs. SJB - Volatility Comparison
The current volatility for Global X 1-3 Month T-Bill ETF (CLIP) is 0.06%, while ProShares Short High Yield (SJB) has a volatility of 1.23%. This indicates that CLIP experiences smaller price fluctuations and is considered to be less risky than SJB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CLIP | SJB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 1.23% | -1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 0.14% | 2.95% | -2.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.23% | 3.83% | -3.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.44% | 7.51% | -7.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.44% | 8.52% | -8.08% |
CLIP vs. SJB - Expense Ratio Comparison
CLIP has a 0.07% expense ratio, which is lower than SJB's 0.95% expense ratio.
Dividends
CLIP vs. SJB - Dividend Comparison
CLIP's dividend yield for the trailing twelve months is around 3.91%, more than SJB's 3.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CLIP Global X 1-3 Month T-Bill ETF | 3.91% | 4.14% | 5.11% | 2.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SJB ProShares Short High Yield | 3.44% | 3.86% | 5.86% | 4.10% | 0.46% | 0.00% | 0.07% | 1.27% | 0.71% |
Frequently Asked Questions
CLIP and SJB have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SJB has higher volatility (1.23%) compared to CLIP (0.06%). In terms of maximum drawdown, CLIP dropped -0.08% vs SJB's -58.06%.
On 1-year performance, CLIP leads with 3.96% vs -0.44% for SJB. On fees, CLIP is cheaper at 0.07% per year. On volatility, CLIP has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CLIP has performed better with a 3.96% return vs -0.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CLIP is cheaper with a 0.07% expense ratio, compared with 0.95% for SJB.
CLIP has the higher dividend yield at 3.91%, compared with 3.44% for SJB.
CLIP is categorized as Ultrashort Bond, while SJB is Inverse Bonds. CLIP tracks Solactive 1-3 month US T-Bill Index - USD, while SJB tracks iBoxx $ Liquid High Yield Index (-100%). They also come from different issuers: Global X and ProShares. Their fees differ too: 0.07% for CLIP and 0.95% for SJB.
CLIP currently has the higher Sharpe Ratio (17.26 vs -0.12), 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.
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