HYHG vs. SJNK
Compare and contrast key facts about ProShares High Yield-Interest Rate Hedged (HYHG) and SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK).
HYHG and SJNK are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYHG is a passively managed fund by ProShares that tracks the performance of the Citi High Yield (Treasury Rate-Hedged) Index. It was launched on May 21, 2013. 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 HYHG 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: HYHG or SJNK.
Key characteristics
| HYHG | SJNK | |
|---|---|---|
| YTD Return | 10.24% | 8.32% |
| 1Y Return | 13.96% | 12.87% |
| 3Y Return (Ann) | 7.69% | 4.59% |
| 5Y Return (Ann) | 6.14% | 5.24% |
| 10Y Return (Ann) | 4.31% | 4.35% |
| Sharpe Ratio | 2.53 | 3.45 |
| Sortino Ratio | 3.84 | 5.48 |
| Omega Ratio | 1.57 | 1.71 |
| Calmar Ratio | 4.42 | 7.71 |
| Martin Ratio | 22.71 | 30.98 |
| Ulcer Index | 0.62% | 0.42% |
| Daily Std Dev | 5.56% | 3.74% |
| Max Drawdown | -25.72% | -19.74% |
| Current Drawdown | -0.03% | 0.00% |
Correlation
The correlation between HYHG and SJNK is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
HYHG vs. SJNK - Performance Comparison
In the year-to-date period, HYHG achieves a 10.24% return, which is significantly higher than SJNK's 8.32% return. Both investments have delivered pretty close results over the past 10 years, with HYHG having a 4.31% annualized return and SJNK not far ahead at 4.35%. 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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HYHG vs. SJNK - Expense Ratio Comparison
HYHG has a 0.50% expense ratio, which is higher than SJNK's 0.40% expense ratio.
Risk-Adjusted Performance
HYHG vs. SJNK - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares High Yield-Interest Rate Hedged (HYHG) 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
HYHG vs. SJNK - Dividend Comparison
HYHG's dividend yield for the trailing twelve months is around 6.56%, less than SJNK's 7.28% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 6.56% | 6.06% | 5.58% | 4.54% | 5.20% | 6.07% | 6.45% | 5.57% | 5.37% | 6.37% | 5.51% | 3.02% |
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF | 7.28% | 7.20% | 5.85% | 4.21% | 5.34% | 5.64% | 5.69% | 5.64% | 5.65% | 5.81% | 5.46% | 5.34% |
Drawdowns
HYHG vs. SJNK - Drawdown Comparison
The maximum HYHG drawdown since its inception was -25.72%, which is greater than SJNK's maximum drawdown of -19.74%. Use the drawdown chart below to compare losses from any high point for HYHG and SJNK. For additional features, visit the drawdowns tool.
Volatility
HYHG vs. SJNK - Volatility Comparison
ProShares High Yield-Interest Rate Hedged (HYHG) has a higher volatility of 0.97% compared to SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) at 0.76%. This indicates that HYHG'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.