JNK vs. BTC-USD
JNK (SPDR Barclays High Yield Bond ETF) is High Yield Bonds fund tracking the Barclays Capital High Yield Very Liquid Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, JNK returned 4.94%/yr vs 59.68%/yr for BTC-USD. At a 0.12 correlation, their price movements are largely independent.
Performance
JNK vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, JNK achieves a 1.30% return, which is significantly higher than BTC-USD's -28.54% return. Over the past 10 years, JNK has underperformed BTC-USD with an annualized return of 4.94%, while BTC-USD has yielded a comparatively higher 59.68% annualized return.
JNK
- 1D
- 0.07%
- 1M
- -0.21%
- YTD
- 1.30%
- 6M
- 1.95%
- 1Y
- 6.98%
- 3Y*
- 8.46%
- 5Y*
- 3.59%
- 10Y*
- 4.94%
BTC-USD
- 1D
- -1.22%
- 1M
- -22.47%
- YTD
- -28.54%
- 6M
- -31.02%
- 1Y
- -40.89%
- 3Y*
- 33.16%
- 5Y*
- 10.82%
- 10Y*
- 59.68%
JNK vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JNK SPDR Barclays High Yield Bond ETF | 1.30% | 8.76% | 7.71% | 12.42% | -12.19% | 4.00% | 4.95% | 14.88% | -3.28% | 6.49% |
BTC-USD Bitcoin | -28.54% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between JNK and BTC-USD is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2012 | 0.12 |
Over the past year, JNK and BTC-USD have become more correlated (0.32) than their long-term average of 0.12, meaning their price movements have been converging.
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Return for Risk
JNK vs. BTC-USD — Risk / Return Rank
JNK
BTC-USD
JNK vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Barclays High Yield Bond ETF (JNK) and Bitcoin (BTC-USD). 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.
| JNK | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.78 | ||
| Sortino ratioReturn per unit of downside risk | +4.12 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.86 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | -0.80 | +3.59 |
| Martin ratioReturn relative to average drawdown | 12.30 | -1.42 | +13.72 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JNK | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.83 | -0.95 | +2.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.20 | +0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.87 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 1.13 | -0.71 |
Drawdowns
JNK vs. BTC-USD - Drawdown Comparison
The maximum JNK drawdown since its inception was -38.48%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for JNK and BTC-USD.
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Drawdown Indicators
| JNK | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.48% | -85.30% | +46.82% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -51.21% | +48.70% |
Max Drawdown (3Y)Largest decline over 3 years | -5.02% | -51.21% | +46.19% |
Max Drawdown (5Y)Largest decline over 5 years | -16.67% | -76.67% | +60.00% |
Max Drawdown (10Y)Largest decline over 10 years | -22.89% | -83.80% | +60.91% |
Current DrawdownCurrent decline from peak | -0.46% | -49.86% | +49.40% |
Average DrawdownAverage peak-to-trough decline | -3.70% | -42.32% | +38.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 34.46% | -33.89% |
Volatility
JNK vs. BTC-USD - Volatility Comparison
The current volatility for SPDR Barclays High Yield Bond ETF (JNK) is 1.12%, while Bitcoin (BTC-USD) has a volatility of 11.59%. This indicates that JNK experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JNK | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 11.59% | -10.47% |
Volatility (6M)Calculated over the trailing 6-month period | 3.00% | 34.53% | -31.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.84% | 35.67% | -31.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.55% | 44.95% | -37.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.31% | 56.71% | -48.40% |
Frequently Asked Questions
JNK and BTC-USD have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (11.59%) compared to JNK (1.12%). In terms of maximum drawdown, JNK dropped -38.48% vs BTC-USD's -85.30%.
JNK currently has the higher Sharpe Ratio (1.83 vs -0.95), 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.
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