HYG vs. JNK
Compare and contrast key facts about iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and SPDR Barclays High Yield Bond ETF (JNK).
HYG and JNK are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYG is a passively managed fund by iShares that tracks the performance of the iBoxx $ Liquid High Yield Index. It was launched on Apr 11, 2007. JNK is a passively managed fund by State Street that tracks the performance of the Barclays Capital High Yield Very Liquid Index. It was launched on Nov 28, 2007. Both HYG and JNK 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: HYG or JNK.
Key characteristics
| HYG | JNK | |
|---|---|---|
| YTD Return | 8.25% | 7.55% |
| 1Y Return | 13.37% | 12.80% |
| 3Y Return (Ann) | 2.76% | 2.30% |
| 5Y Return (Ann) | 3.50% | 3.43% |
| 10Y Return (Ann) | 3.96% | 3.69% |
| Sharpe Ratio | 2.91 | 2.78 |
| Sortino Ratio | 4.53 | 4.26 |
| Omega Ratio | 1.57 | 1.54 |
| Calmar Ratio | 2.48 | 2.12 |
| Martin Ratio | 21.88 | 21.06 |
| Ulcer Index | 0.62% | 0.62% |
| Daily Std Dev | 4.65% | 4.66% |
| Max Drawdown | -34.24% | -38.48% |
| Current Drawdown | -0.71% | -0.73% |
Correlation
The correlation between HYG and JNK is 0.88, 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
HYG vs. JNK - Performance Comparison
In the year-to-date period, HYG achieves a 8.25% return, which is significantly higher than JNK's 7.55% return. Over the past 10 years, HYG has outperformed JNK with an annualized return of 3.96%, while JNK has yielded a comparatively lower 3.69% annualized 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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HYG vs. JNK - Expense Ratio Comparison
HYG has a 0.49% expense ratio, which is higher than JNK's 0.40% expense ratio.
Risk-Adjusted Performance
HYG vs. JNK - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) 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.
Dividends
HYG vs. JNK - Dividend Comparison
HYG's dividend yield for the trailing twelve months is around 5.90%, less than JNK's 6.57% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.90% | 5.75% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% | 5.69% | 6.10% |
JNK SPDR Barclays High Yield Bond ETF | 6.57% | 6.38% | 6.06% | 4.26% | 5.11% | 5.44% | 5.90% | 5.60% | 6.06% | 6.60% | 5.99% | 6.05% |
Drawdowns
HYG vs. JNK - Drawdown Comparison
The maximum HYG drawdown since its inception was -34.24%, smaller than the maximum JNK drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for HYG and JNK. For additional features, visit the drawdowns tool.
Volatility
HYG vs. JNK - Volatility Comparison
The current volatility for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) is 1.13%, while SPDR Barclays High Yield Bond ETF (JNK) has a volatility of 1.20%. This indicates that HYG experiences smaller price fluctuations and is considered to be less risky than JNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.