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