IBHE vs. SJNK
Compare and contrast key facts about iShares iBonds 2025 Term High Yield & Income ETF (IBHE) and SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK).
IBHE and SJNK are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IBHE is a passively managed fund by iShares that tracks the performance of the Bloomberg 2025 Term High Yield and Income Index. It was launched on May 7, 2019. 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 IBHE 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: IBHE or SJNK.
Key characteristics
| IBHE | SJNK | |
|---|---|---|
| YTD Return | 6.65% | 8.49% |
| 1Y Return | 9.32% | 13.18% |
| 3Y Return (Ann) | 4.34% | 4.78% |
| 5Y Return (Ann) | 4.61% | 5.32% |
| Sharpe Ratio | 3.63 | 3.69 |
| Sortino Ratio | 6.23 | 5.95 |
| Omega Ratio | 1.83 | 1.77 |
| Calmar Ratio | 14.55 | 8.15 |
| Martin Ratio | 53.38 | 32.86 |
| Ulcer Index | 0.18% | 0.42% |
| Daily Std Dev | 2.62% | 3.69% |
| Max Drawdown | -26.92% | -19.74% |
| Current Drawdown | -0.11% | -0.04% |
Correlation
The correlation between IBHE and SJNK is 0.81, 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
IBHE vs. SJNK - Performance Comparison
In the year-to-date period, IBHE achieves a 6.65% return, which is significantly lower than SJNK's 8.49% 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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IBHE vs. SJNK - Expense Ratio Comparison
IBHE has a 0.35% expense ratio, which is lower than SJNK's 0.40% expense ratio.
Risk-Adjusted Performance
IBHE vs. SJNK - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2025 Term High Yield & Income ETF (IBHE) 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
IBHE vs. SJNK - Dividend Comparison
IBHE's dividend yield for the trailing twelve months is around 7.14%, less than SJNK's 7.27% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 7.14% | 7.16% | 5.78% | 4.84% | 5.73% | 3.72% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF | 7.27% | 7.20% | 5.85% | 4.21% | 5.34% | 5.64% | 5.69% | 5.64% | 5.65% | 5.81% | 5.46% | 5.34% |
Drawdowns
IBHE vs. SJNK - Drawdown Comparison
The maximum IBHE drawdown since its inception was -26.92%, which is greater than SJNK's maximum drawdown of -19.74%. Use the drawdown chart below to compare losses from any high point for IBHE and SJNK. For additional features, visit the drawdowns tool.
Volatility
IBHE vs. SJNK - Volatility Comparison
The current volatility for iShares iBonds 2025 Term High Yield & Income ETF (IBHE) is 0.40%, while SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) has a volatility of 0.76%. This indicates that IBHE experiences smaller price fluctuations and is considered to be less risky than SJNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.