JBND vs. CDX

Last updated Aug 2, 2026

JBND (Jpmorgan Active Bond ETF) and CDX (Simplify High Yield ETF) are both exchange-traded funds - JBND is a Intermediate Core Bond fund actively managed by JPMorgan, while CDX is a High Yield Bonds fund actively managed by Simplify. Both are actively managed. Over the past year, JBND returned 2.36% vs -3.26% for CDX. Their 0.35 correlation means their historical movements had little consistent relationship. Both charge a 0.25% expense ratio.

Performance

JBND vs. CDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Jpmorgan Active Bond ETF (JBND) and Simplify High Yield ETF (CDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JBND achieves a -0.46% return, which is significantly higher than CDX's -3.00% return.

JBND

• 1D: -0.21%
• 1M: -1.13%
• 6M: -0.55%
• YTD: -0.46%
• 1Y: 2.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.54%

CDX

• 1D: 0.10%
• 1M: -0.57%
• 6M: -3.06%
• YTD: -3.00%
• 1Y: -3.26%
• 3Y*: 7.17%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.85%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CDX Simplify High Yield ETF	$2.23M	$2.17M	$2.98M
JBND Jpmorgan Active Bond ETF	$40.71M	$43.19M	$53.57M

JBND vs. CDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JBND Jpmorgan Active Bond ETF	-0.46%	8.21%	3.19%	7.43%
CDX Simplify High Yield ETF	-3.00%	9.51%	7.71%	5.93%

Correlation

The correlation between JBND and CDX is 0.36, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.36
Correlation (All Time) Calculated using the full available price history since Oct 12, 2023	0.35

Return for Risk

JBND vs. CDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JBND

JBND Risk / Return Rank: 33
JBND Sharpe Ratio Rank: 35
JBND Sortino Ratio Rank: 34
JBND Omega Ratio Rank: 31
JBND Calmar Ratio Rank: 32
JBND Martin Ratio Rank: 31

CDX

CDX Risk / Return Rank: 4
CDX Sharpe Ratio Rank: 5
CDX Sortino Ratio Rank: 4
CDX Omega Ratio Rank: 4
CDX Calmar Ratio Rank: 4
CDX Martin Ratio Rank: 0

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JBND vs. CDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Jpmorgan Active Bond ETF (JBND) and Simplify High Yield ETF (CDX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	JBND	CDX	Difference
Sharpe ratio: Return per unit of total volatility	0.86	-0.54	+1.41
Sortino ratio: Return per unit of downside risk	1.28	-0.74	+2.02
Omega ratio: Gain probability vs. loss probability	1.15	0.92	+0.23
Calmar ratio: Return relative to maximum drawdown	1.09	-0.60	+1.70
Martin ratio: Return relative to average drawdown	2.76	-1.44	+4.20

JBND vs. CDX - Sharpe Ratio Comparison

The current JBND Sharpe Ratio is 0.86, which is higher than the CDX Sharpe Ratio of -0.54. The chart below compares the historical Sharpe Ratios of JBND and CDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JBND vs. CDX - Drawdown Comparison

The maximum JBND drawdown since its inception was -4.48%, smaller than the maximum CDX drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for JBND and CDX.

Drawdown Indicators

	JBND	CDX	Difference
Max Drawdown Largest peak-to-trough decline	-4.48%	-13.24%	+8.76%
Max Drawdown (1Y) Largest decline over 1 year	-2.94%	-5.37%	+2.43%
Max Drawdown (3Y) Largest decline over 3 years	—	-8.97%	—
Current Drawdown Current decline from peak	-2.41%	-7.94%	+5.53%
Average Drawdown Average peak-to-trough decline	-1.18%	-4.44%	+3.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	2.24%	-1.07%

Volatility

JBND vs. CDX - Volatility Comparison

The current volatility for Jpmorgan Active Bond ETF (JBND) is 0.89%, while Simplify High Yield ETF (CDX) has a volatility of 2.02%. This indicates that JBND experiences smaller price fluctuations and is considered to be less risky than CDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JBND	CDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.89%	2.02%	-1.13%
Volatility (6M) Calculated over the trailing 6-month period	2.89%	5.16%	-2.27%
Volatility (1Y) Calculated over the trailing 1-year period	3.73%	5.98%	-2.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.79%	10.97%	-6.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.79%	10.97%	-6.18%

JBND vs. CDX - Expense Ratio Comparison

Both JBND and CDX have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

JBND vs. CDX - Dividend Comparison

JBND's dividend yield for the trailing twelve months is around 4.47%, less than CDX's 8.33% yield.

Position	TTM	2025	2024	2023	2022
CDX Simplify High Yield ETF	8.33%	7.18%	12.60%	5.26%	7.51%
JBND Jpmorgan Active Bond ETF	4.07%	4.42%	4.58%	1.00%	0.00%

Frequently Asked Questions

Can I hold both JBND and CDX in my portfolio?

JBND and CDX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JBND or CDX?

CDX has higher volatility (2.02%) compared to JBND (0.89%). In terms of maximum drawdown, JBND dropped -4.48% vs CDX's -13.24%.

Which ETF is better, JBND or CDX?

On 1-year performance, JBND leads with 2.36% vs -3.26% for CDX. Both ETFs have the same 0.25% expense ratio. On volatility, JBND has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JBND or CDX?

Over the 1-year period, JBND has performed better with a 2.36% return vs -3.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JBND or CDX?

JBND and CDX have the same expense ratio: 0.25% per year.

Which ETF pays a higher dividend yield, JBND or CDX?

CDX has the higher dividend yield at 8.33%, compared with 4.07% for JBND.

What is the main difference between JBND and CDX?

JBND is categorized as Intermediate Core Bond, while CDX is High Yield Bonds. They also come from different issuers: JPMorgan and Simplify.

Which has better risk-adjusted returns?

JBND currently has the higher Sharpe Ratio (0.86 vs -0.54), 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.