JNK vs. HYLB
JNK (SPDR Barclays High Yield Bond ETF) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - JNK tracks the Barclays Capital High Yield Very Liquid Index while HYLB tracks the Solactive USD High Yield Corporates Total Market Index. Both are passively managed. Over the past 5 years, JNK returned 3.77%/yr vs 4.11%/yr for HYLB. With a 0.96 correlation, they move nearly in lockstep. JNK charges 0.40%/yr vs 0.15%/yr for HYLB.
Performance
JNK vs. HYLB - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with JNK having a 1.73% return and HYLB slightly lower at 1.72%.
JNK
- 1D
- 0.04%
- 1M
- 0.35%
- YTD
- 1.73%
- 6M
- 2.36%
- 1Y
- 7.72%
- 3Y*
- 8.70%
- 5Y*
- 3.77%
- 10Y*
- 5.03%
HYLB
- 1D
- 0.12%
- 1M
- 0.26%
- YTD
- 1.72%
- 6M
- 2.29%
- 1Y
- 7.24%
- 3Y*
- 8.78%
- 5Y*
- 4.11%
- 10Y*
- —
JNK vs. HYLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JNK SPDR Barclays High Yield Bond ETF | 1.73% | 8.76% | 7.71% | 12.42% | -12.19% | 4.00% | 4.95% | 14.88% | -3.28% | 6.49% |
HYLB Xtrackers USD High Yield Corporate Bond ETF | 1.72% | 8.74% | 8.14% | 12.03% | -10.80% | 3.94% | 5.04% | 14.06% | -1.80% | 6.00% |
Correlation
The correlation between JNK and HYLB is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2016 | 0.96 |
The correlation between JNK and HYLB has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.
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Return for Risk
JNK vs. HYLB — Risk / Return Rank
JNK
HYLB
JNK vs. HYLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Barclays High Yield Bond ETF (JNK) and Xtrackers USD High Yield Corporate Bond ETF (HYLB). 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 | HYLB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.03 | 1.97 | +0.07 |
Sortino ratioReturn per unit of downside risk | 3.09 | 2.98 | +0.11 |
Omega ratioGain probability vs. loss probability | 1.39 | 1.39 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 3.08 | 3.19 | -0.11 |
Martin ratioReturn relative to average drawdown | 13.61 | 13.74 | -0.12 |
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 | HYLB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.03 | 1.97 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.55 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.58 | -0.16 |
Drawdowns
JNK vs. HYLB - Drawdown Comparison
The maximum JNK drawdown since its inception was -38.48%, which is greater than HYLB's maximum drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for JNK and HYLB.
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Drawdown Indicators
| JNK | HYLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.48% | -22.91% | -15.57% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -2.27% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -5.02% | -4.51% | -0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -16.67% | -15.54% | -1.13% |
Max Drawdown (10Y)Largest decline over 10 years | -22.89% | — | — |
Current DrawdownCurrent decline from peak | -0.04% | -0.02% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -3.70% | -2.43% | -1.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 0.53% | +0.04% |
Volatility
JNK vs. HYLB - Volatility Comparison
SPDR Barclays High Yield Bond ETF (JNK) and Xtrackers USD High Yield Corporate Bond ETF (HYLB) have volatilities of 1.16% and 1.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JNK | HYLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 1.22% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 2.93% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.81% | 3.70% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.54% | 7.47% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.31% | 8.18% | +0.13% |
JNK vs. HYLB - Expense Ratio Comparison
JNK has a 0.40% expense ratio, which is higher than HYLB's 0.15% expense ratio.
Dividends
JNK vs. HYLB - Dividend Comparison
JNK's dividend yield for the trailing twelve months is around 6.61%, more than HYLB's 6.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYLB Xtrackers USD High Yield Corporate Bond ETF | 6.48% | 6.29% | 6.31% | 5.84% | 5.53% | 4.45% | 5.22% | 5.71% | 5.95% | 5.85% | 0.27% | 0.00% |
JNK SPDR Barclays High Yield Bond ETF | 6.61% | 6.54% | 6.63% | 6.38% | 6.06% | 4.27% | 5.11% | 5.44% | 5.90% | 5.60% | 6.06% | 6.59% |
Frequently Asked Questions
With a correlation of 0.98, JNK and HYLB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
HYLB has higher volatility (1.22%) compared to JNK (1.16%). In terms of maximum drawdown, JNK dropped -38.48% vs HYLB's -22.91%.
On 5-year performance, HYLB leads with 4.11% vs 3.77% for JNK. On fees, HYLB is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYLB has performed better with a 4.11% return vs 3.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYLB is cheaper with a 0.15% expense ratio, compared with 0.40% for JNK.
JNK has the higher dividend yield at 6.61%, compared with 6.48% for HYLB.
JNK tracks Barclays Capital High Yield Very Liquid Index, while HYLB tracks Solactive USD High Yield Corporates Total Market Index. They also come from different issuers: State Street and DWS. Their fees differ too: 0.40% for JNK and 0.15% for HYLB.
JNK currently has the higher Sharpe Ratio (2.03 vs 1.97), 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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