HGY.TO vs. JNK

Last updated Jun 4, 2026

HGY.TO (Global X Gold Yield ETF) and JNK (SPDR Barclays High Yield Bond ETF) are both exchange-traded funds - HGY.TO is a Gold fund actively managed by Global X, while JNK is a High Yield Bonds fund tracking the Barclays Capital High Yield Very Liquid Index. HGY.TO is actively managed, while JNK is passively managed. Over the past 10 years, HGY.TO returned 9.42%/yr vs 5.77%/yr for JNK. At a correlation of -0.14, they often move in opposite directions. HGY.TO charges 0.86%/yr vs 0.40%/yr for JNK.

Performance

HGY.TO vs. JNK - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Gold Yield ETF (HGY.TO) and SPDR Barclays High Yield Bond ETF (JNK). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HGY.TO is traded in CAD, while JNK is traded in USD. To make them comparable, the JNK values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HGY.TO achieves a 1.16% return, which is significantly lower than JNK's 2.80% return. Over the past 10 years, HGY.TO has outperformed JNK with an annualized return of 9.42%, while JNK has yielded a comparatively lower 5.77% annualized return.

HGY.TO

• 1D: -0.83%
• 1M: -1.36%
• YTD: 1.16%
• 6M: 3.23%
• 1Y: 23.98%
• 3Y*: 24.16%
• 5Y*: 13.84%
• 10Y*: 9.42%

JNK

• 1D: 0.19%
• 1M: 2.44%
• YTD: 2.80%
• 6M: 1.58%
• 1Y: 8.62%
• 3Y*: 9.89%
• 5Y*: 6.65%
• 10Y*: 5.77%

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

HGY.TO vs. JNK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HGY.TO Global X Gold Yield ETF	1.16%	48.66%	21.36%	9.51%	-1.07%	-4.51%	18.67%	13.62%	-3.58%	8.33%
JNK SPDR Barclays High Yield Bond ETF	2.80%	3.77%	16.96%	9.94%	-5.94%	3.06%	3.17%	9.23%	4.93%	-0.29%

Correlation

The correlation between HGY.TO and JNK is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	-0.13
Correlation (5Y) Calculated over the trailing 5-year period	-0.09
Correlation (10Y) Calculated over the trailing 10-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Dec 21, 2010	-0.14

HGY.TO vs. JNK - Sectors Allocation Comparison

Sectors	HGY.TO	JNK
Financial Services	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	0.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	0.0%
Utilities	-	-

Return for Risk

HGY.TO vs. JNK — Risk / Return Rank

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

HGY.TO

HGY.TO Risk / Return Rank: 28
HGY.TO Sharpe Ratio Rank: 29
HGY.TO Sortino Ratio Rank: 26
HGY.TO Omega Ratio Rank: 31
HGY.TO Calmar Ratio Rank: 29
HGY.TO Martin Ratio Rank: 27

JNK

JNK Risk / Return Rank: 60
JNK Sharpe Ratio Rank: 55
JNK Sortino Ratio Rank: 60
JNK Omega Ratio Rank: 58
JNK Calmar Ratio Rank: 58
JNK Martin Ratio Rank: 68

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.

HGY.TO vs. JNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Gold Yield ETF (HGY.TO) and SPDR Barclays High Yield Bond ETF (JNK). 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.

	HGY.TO	JNK	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.67	-0.64
Sortino ratio: Return per unit of downside risk	1.42	2.35	-0.93
Omega ratio: Gain probability vs. loss probability	1.21	1.31	-0.10
Calmar ratio: Return relative to maximum drawdown	1.38	2.56	-1.18
Martin ratio: Return relative to average drawdown	3.70	7.21	-3.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HGY.TO vs. JNK - Sharpe Ratio Comparison

The current HGY.TO Sharpe Ratio is 1.03, which is lower than the JNK Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of HGY.TO and JNK, 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

	HGY.TO	JNK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	1.67	-0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.92	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.72	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.91	-0.84

Drawdowns

HGY.TO vs. JNK - Drawdown Comparison

The maximum HGY.TO drawdown since its inception was -39.53%, which is greater than JNK's maximum drawdown of -15.75%. Use the drawdown chart below to compare losses from any high point for HGY.TO and JNK.

Drawdown Indicators

	HGY.TO	JNK	Difference
Max Drawdown Largest peak-to-trough decline	-39.53%	-15.75%	-23.78%
Max Drawdown (1Y) Largest decline over 1 year	-17.47%	-3.38%	-14.09%
Max Drawdown (3Y) Largest decline over 3 years	-17.47%	-7.77%	-9.70%
Max Drawdown (5Y) Largest decline over 5 years	-18.32%	-14.90%	-3.42%
Max Drawdown (10Y) Largest decline over 10 years	-20.31%	-15.75%	-4.56%
Current Drawdown Current decline from peak	-15.54%	0.00%	-15.54%
Average Drawdown Average peak-to-trough decline	-17.79%	-2.35%	-15.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.50%	1.20%	+5.30%

Volatility

HGY.TO vs. JNK - Volatility Comparison

Global X Gold Yield ETF (HGY.TO) has a higher volatility of 7.22% compared to SPDR Barclays High Yield Bond ETF (JNK) at 1.16%. This indicates that HGY.TO's price experiences larger fluctuations and is considered to be riskier than JNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HGY.TO	JNK	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.22%	1.16%	+6.06%
Volatility (6M) Calculated over the trailing 6-month period	20.71%	4.16%	+16.55%
Volatility (1Y) Calculated over the trailing 1-year period	23.45%	5.20%	+18.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.57%	7.26%	+8.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.45%	8.03%	+7.42%

HGY.TO vs. JNK - Expense Ratio Comparison

HGY.TO has a 0.86% expense ratio, which is higher than JNK's 0.40% expense ratio.

Dividends

HGY.TO vs. JNK - Dividend Comparison

HGY.TO's dividend yield for the trailing twelve months is around 6.13%, less than JNK's 6.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HGY.TO Global X Gold Yield ETF	6.13%	4.92%	5.32%	6.10%	6.42%	5.87%	5.72%	4.19%	4.66%	4.63%	5.37%	6.13%
JNK SPDR Barclays High Yield Bond ETF	6.62%	6.54%	6.63%	6.38%	6.06%	4.27%	5.11%	5.44%	5.90%	5.60%	6.06%	6.59%

Frequently Asked Questions

Can I hold both HGY.TO and JNK in my portfolio?

HGY.TO and JNK have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HGY.TO or JNK?

On fees, JNK is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HGY.TO or JNK?

JNK is cheaper with a 0.40% expense ratio, compared with 0.86% for HGY.TO.

What is the main difference between HGY.TO and JNK?

HGY.TO is categorized as Gold, while JNK is High Yield Bonds. They also come from different issuers: Global X and State Street. Their fees differ too: 0.86% for HGY.TO and 0.40% for JNK.