HYBB vs. SJNK
Compare and contrast key facts about iShares BB Rated Corporate Bond ETF (HYBB) and SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK).
HYBB and SJNK are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYBB is a passively managed fund by iShares that tracks the performance of the ICE BofA BB US High Yield Constrained Index (USD). It was launched on Oct 6, 2020. SJNK is a passively managed fund by State Street that tracks the performance of the Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y). It was launched on Mar 15, 2012. Both HYBB and SJNK are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYBB or SJNK.
Key characteristics
| HYBB | SJNK | |
|---|---|---|
| YTD Return | 7.08% | 8.53% |
| 1Y Return | 13.01% | 13.69% |
| 3Y Return (Ann) | 1.96% | 4.65% |
| Sharpe Ratio | 2.73 | 3.49 |
| Sortino Ratio | 4.18 | 5.55 |
| Omega Ratio | 1.53 | 1.72 |
| Calmar Ratio | 1.95 | 7.82 |
| Martin Ratio | 22.19 | 31.51 |
| Ulcer Index | 0.55% | 0.42% |
| Daily Std Dev | 4.51% | 3.75% |
| Max Drawdown | -15.27% | -19.74% |
| Current Drawdown | -0.16% | 0.00% |
Correlation
The correlation between HYBB and SJNK is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
HYBB vs. SJNK - Performance Comparison
In the year-to-date period, HYBB achieves a 7.08% return, which is significantly lower than SJNK's 8.53% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HYBB vs. SJNK - Expense Ratio Comparison
HYBB has a 0.25% expense ratio, which is lower than SJNK's 0.40% expense ratio.
Risk-Adjusted Performance
HYBB vs. SJNK - Risk-Adjusted Performance 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.
Dividends
HYBB vs. SJNK - Dividend Comparison
HYBB's dividend yield for the trailing twelve months is around 6.11%, less than SJNK's 7.26% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYBB iShares BB Rated Corporate Bond ETF | 6.11% | 6.28% | 5.05% | 4.18% | 0.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF | 7.26% | 7.20% | 5.85% | 4.21% | 5.34% | 5.64% | 5.69% | 5.64% | 5.65% | 5.81% | 5.46% | 5.34% |
Drawdowns
HYBB vs. SJNK - Drawdown Comparison
The maximum HYBB drawdown since its inception was -15.27%, 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. For additional features, visit the drawdowns tool.
Volatility
HYBB vs. SJNK - Volatility Comparison
iShares BB Rated Corporate Bond ETF (HYBB) has a higher volatility of 1.03% compared to SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) at 0.77%. 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.