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HYBB vs. SJNK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HYBB vs. SJNK

Last updated Jun 5, 2026

HYBB (iShares BB Rated Corporate Bond ETF) and SJNK (SPDR Bloomberg Barclays Short Term High Yield Bond ETF) are both High Yield Bonds funds - HYBB tracks the ICE BofA BB US High Yield Constrained Index (USD) while SJNK tracks the Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y). Both are passively managed. Over the past 5 years, HYBB returned 3.63%/yr vs 4.86%/yr for SJNK. Their correlation of 0.93 suggests significant overlap in exposure. HYBB charges 0.25%/yr vs 0.40%/yr for SJNK.

Performance

HYBB vs. SJNK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares BB Rated Corporate Bond ETF (HYBB) and SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HYBB achieves a 1.39% return, which is significantly lower than SJNK's 1.49% return.

HYBB

1D
0.08%
1M
0.42%
YTD
1.39%
6M
1.78%
1Y
6.52%
3Y*
7.96%
5Y*
3.63%
10Y*
—

SJNK

1D
0.08%
1M
0.29%
YTD
1.49%
6M
1.91%
1Y
6.32%
3Y*
8.25%
5Y*
4.86%
10Y*
5.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HYBB vs. SJNK - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
HYBB
iShares BB Rated Corporate Bond ETF		1.39%8.95%6.35%10.53%-10.11%3.36%4.29%
SJNK
SPDR Bloomberg Barclays Short Term High Yield Bond ETF		1.49%7.68%8.24%11.63%-5.50%5.06%4.93%

Correlation

The correlation between HYBB and SJNK is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.88

Correlation (3Y)
Calculated over the trailing 3-year period

0.91

Correlation (5Y)
Calculated over the trailing 5-year period

0.94

Correlation (All Time)
Calculated using the full available price history since Oct 9, 2020

0.93

The correlation between HYBB and SJNK has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

HYBB vs. SJNK - Sectors Allocation Comparison

Sectors
HYBB
SJNK

Financial Services

100.0%

-

Basic Materials

-

-

Communication Services

-

100.0%

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

HYBB
100.0%
SJNK

-

Basic Materials

HYBB

-

SJNK

-

Communication Services

HYBB

-

SJNK
100.0%

Consumer Cyclical

HYBB

-

SJNK

-

Consumer Defensive

HYBB

-

SJNK

-

Energy

HYBB

-

SJNK

-

Healthcare

HYBB

-

SJNK

-

Industrials

HYBB

-

SJNK

-

Real Estate

HYBB

-

SJNK

-

Technology

HYBB

-

SJNK

-

Utilities

HYBB

-

SJNK

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares BB Rated Corporate Bond ETF

SPDR Bloomberg Barclays Short Term High Yield Bond ETF

Often compared with HYBB:
HYBB vs. USHYHYBB vs. HYDBHYBB vs. SPHYHYBB vs. HYSHYBB vs. SHYLHYBB vs. HYDWHYBB vs. PIAMX
Often compared with SJNK:
SJNK vs. SHYGSJNK vs. HYGSJNK vs. USHYSJNK vs. SRLNSJNK vs. HYLBSJNK vs. HIGHSJNK vs. SPSB

Return for Risk

HYBB vs. SJNK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HYBB
HYBB Risk / Return Rank: 6262
Overall Rank
HYBB Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
HYBB Sortino Ratio Rank: 6666
Sortino Ratio Rank
HYBB Omega Ratio Rank: 6666
Omega Ratio Rank
HYBB Calmar Ratio Rank: 5454
Calmar Ratio Rank
HYBB Martin Ratio Rank: 6666
Martin Ratio Rank
SJNK
SJNK Risk / Return Rank: 7070
Overall Rank
SJNK Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
SJNK Sortino Ratio Rank: 6767
Sortino Ratio Rank
SJNK Omega Ratio Rank: 6666
Omega Ratio Rank
SJNK Calmar Ratio Rank: 7474
Calmar Ratio Rank
SJNK Martin Ratio Rank: 8181
Martin Ratio Rank
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.

HYBB vs. SJNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares BB Rated Corporate Bond ETF (HYBB) and SPDR Bloomberg Barclays 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.

HYBBSJNKDifference
Sharpe ratioReturn per unit of total volatility
2.00
1.99

+0.01

Sortino ratioReturn per unit of downside risk
3.00
3.03

-0.04

Omega ratioGain probability vs. loss probability

1.39

1.39

0.00

Calmar ratioReturn relative to maximum drawdown

2.63

3.67

-1.04

Martin ratioReturn relative to average drawdown

11.88

15.90

-4.02

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYBB vs. SJNK - Sharpe Ratio Comparison

The current HYBB Sharpe Ratio is 2.00, which is comparable to the SJNK Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of HYBB and SJNK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

HYBBSJNKDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.00

1.99

+0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.53

0.84

-0.31

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.85

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.62

0.80

-0.17

Drawdowns

HYBB vs. SJNK - Drawdown Comparison

The maximum HYBB drawdown since its inception was -15.28%, smaller than the maximum SJNK drawdown of -19.74%. Use the drawdown chart below to compare losses from any high point for HYBB and SJNK.

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Drawdown Indicators

HYBBSJNKDifference

Max Drawdown

Largest peak-to-trough decline

-15.28%

-19.74%

+4.46%

Max Drawdown (1Y)

Largest decline over 1 year

-2.48%

-1.73%

-0.75%

Max Drawdown (3Y)

Largest decline over 3 years

-4.01%

-4.77%

+0.76%

Max Drawdown (5Y)

Largest decline over 5 years

-15.28%

-10.18%

-5.10%

Max Drawdown (10Y)

Largest decline over 10 years

—

-19.74%

—

Current Drawdown

Current decline from peak

-0.26%

-0.11%

-0.15%

Average Drawdown

Average peak-to-trough decline

-3.23%

-1.63%

-1.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.55%

0.40%

+0.15%

Volatility

HYBB vs. SJNK - Volatility Comparison

iShares BB Rated Corporate Bond ETF (HYBB) has a higher volatility of 0.98% compared to SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) at 0.90%. This indicates that HYBB'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.

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Volatility by Period

HYBBSJNKDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.98%

0.90%

+0.08%

Volatility (6M)

Calculated over the trailing 6-month period

2.57%

2.45%

+0.12%

Volatility (1Y)

Calculated over the trailing 1-year period

3.28%

3.20%

+0.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.93%

5.83%

+1.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.67%

6.49%

+0.18%

HYBB vs. SJNK - Expense Ratio Comparison

HYBB has a 0.25% expense ratio, which is lower than SJNK's 0.40% expense ratio.

Dividends

HYBB vs. SJNK - Dividend Comparison

HYBB's dividend yield for the trailing twelve months is around 5.86%, less than SJNK's 7.01% yield.

PositionTTM20252024202320222021202020192018201720162015
HYBB
iShares BB Rated Corporate Bond ETF		5.86%6.08%6.22%6.28%5.04%3.86%0.76%0.00%0.00%0.00%0.00%0.00%
SJNK
SPDR Bloomberg Barclays Short Term High Yield Bond ETF		7.01%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

HYBB and SJNK have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HYBB has higher volatility (0.98%) compared to SJNK (0.90%). In terms of maximum drawdown, HYBB dropped -15.28% vs SJNK's -19.74%.

On 5-year performance, SJNK leads with 4.86% vs 3.63% for HYBB. On fees, HYBB is cheaper at 0.25% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SJNK has performed better with a 4.86% return vs 3.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HYBB is cheaper with a 0.25% expense ratio, compared with 0.40% for SJNK.

SJNK has the higher dividend yield at 7.01%, compared with 5.86% for HYBB.

HYBB tracks ICE BofA BB US High Yield Constrained Index (USD), while SJNK tracks Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y). They also come from different issuers: iShares and State Street. Their fees differ too: 0.25% for HYBB and 0.40% for SJNK.

HYBB currently has the higher Sharpe Ratio (2.00 vs 1.99), 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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