HIGH vs. SJNK
HIGH (Simplify Enhanced Income ETF) and SJNK (SPDR Bloomberg Short Term High Yield Bond ETF) are both exchange-traded funds - HIGH is a Derivative Income fund actively managed by Simplify, while SJNK is a High Yield Bonds fund tracking the Bloomberg U.S. High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index. HIGH is actively managed, while SJNK is passively managed. Over the past 3 years, HIGH returned 2.73%/yr vs 8.31%/yr for SJNK. At a 0.29 correlation, their price movements are largely independent. HIGH charges 0.51%/yr vs 0.40%/yr for SJNK.
Performance
HIGH vs. SJNK - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HIGH achieves a -0.79% return, which is significantly lower than SJNK's 1.65% return.
HIGH
- 1D
- -0.09%
- 1M
- -0.09%
- YTD
- -0.79%
- 6M
- -2.06%
- 1Y
- -2.00%
- 3Y*
- 2.73%
- 5Y*
- —
- 10Y*
- —
SJNK
- 1D
- 0.08%
- 1M
- 0.21%
- YTD
- 1.65%
- 6M
- 1.65%
- 1Y
- 5.61%
- 3Y*
- 8.31%
- 5Y*
- 4.76%
- 10Y*
- 5.65%
HIGH vs. SJNK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HIGH Simplify Enhanced Income ETF | -0.79% | 4.35% | 1.52% | 7.70% | 0.47% |
SJNK SPDR Bloomberg Short Term High Yield Bond ETF | 1.65% | 7.68% | 8.24% | 11.63% | 1.10% |
Correlation
The correlation between HIGH and SJNK is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2022 | 0.29 |
Over the past year, HIGH and SJNK have become more correlated (0.52) than their long-term average of 0.29, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HIGH vs. SJNK — Risk / Return Rank
HIGH
SJNK
HIGH vs. SJNK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Enhanced Income ETF (HIGH) and SPDR Bloomberg Short Term High Yield Bond ETF (SJNK). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HIGH | SJNK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.97 | ||
| Sortino ratioReturn per unit of downside risk | -2.93 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.34 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 3.26 | -3.47 |
| Martin ratioReturn relative to average drawdown | -0.30 | 13.99 | -14.28 |
Loading charts...
Drawdowns
HIGH vs. SJNK - Drawdown Comparison
The maximum HIGH drawdown since its inception was -9.50%, smaller than the maximum SJNK drawdown of -19.74%. Use the drawdown chart below to compare losses from any high point for HIGH and SJNK.
Loading charts...
Drawdown Indicators
| HIGH | SJNK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.50% | -19.74% | +10.24% |
Max Drawdown (1Y)Largest decline over 1 year | -9.50% | -1.73% | -7.77% |
Max Drawdown (3Y)Largest decline over 3 years | -9.50% | -4.77% | -4.73% |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.18% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.74% | — |
Current DrawdownCurrent decline from peak | -7.50% | -0.16% | -7.34% |
Average DrawdownAverage peak-to-trough decline | -2.45% | -1.63% | -0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.76% | 0.40% | +6.36% |
Volatility
HIGH vs. SJNK - Volatility Comparison
Simplify Enhanced Income ETF (HIGH) has a higher volatility of 1.91% compared to SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) at 0.85%. This indicates that HIGH's price experiences larger fluctuations and is considered to be riskier than SJNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HIGH | SJNK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 0.85% | +1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.79% | 2.52% | +1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.74% | 3.23% | +5.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.52% | 5.84% | +3.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.52% | 6.47% | +3.05% |
HIGH vs. SJNK - Expense Ratio Comparison
HIGH has a 0.51% expense ratio, which is higher than SJNK's 0.40% expense ratio.
Dividends
HIGH vs. SJNK - Dividend Comparison
HIGH's dividend yield for the trailing twelve months is around 7.12%, more than SJNK's 7.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HIGH Simplify Enhanced Income ETF | 7.12% | 7.71% | 8.34% | 9.40% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SJNK SPDR Bloomberg Short Term High Yield Bond ETF | 7.00% | 7.12% | 7.47% | 7.20% | 5.85% | 4.21% | 5.34% | 5.64% | 5.69% | 5.64% | 5.65% | 5.81% |
Frequently Asked Questions
HIGH and SJNK have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIGH has higher volatility (1.91%) compared to SJNK (0.85%). In terms of maximum drawdown, HIGH dropped -9.50% vs SJNK's -19.74%.
On 3-year performance, SJNK leads with 8.31% vs 2.73% for HIGH. On fees, SJNK is cheaper at 0.40% per year. On volatility, SJNK has been the lower-risk option at 0.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SJNK has performed better with a 8.31% return vs 2.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SJNK is cheaper with a 0.40% expense ratio, compared with 0.51% for HIGH.
HIGH has the higher dividend yield at 7.12%, compared with 7.00% for SJNK.
HIGH is categorized as Derivative Income, while SJNK is High Yield Bonds. They also come from different issuers: Simplify and State Street. Their fees differ too: 0.51% for HIGH and 0.40% for SJNK.
SJNK currently has the higher Sharpe Ratio (1.74 vs -0.23), 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.
Find the right allocation for HIGH and SJNK
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer