JNK vs. HYSZX

Last updated Jun 4, 2026

JNK (SPDR Barclays High Yield Bond ETF) and HYSZX (PGIM Short Duration High Yield Income Fund) are both High Yield Bonds funds. Over the past 10 years, JNK returned 5.01%/yr vs 4.90%/yr for HYSZX. A 0.55 correlation means they provide meaningful diversification when combined. JNK charges 0.40%/yr vs 0.75%/yr for HYSZX.

Performance

JNK vs. HYSZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Barclays High Yield Bond ETF (JNK) and PGIM Short Duration High Yield Income Fund (HYSZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with JNK having a 1.51% return and HYSZX slightly lower at 1.50%. Both investments have delivered pretty close results over the past 10 years, with JNK having a 5.01% annualized return and HYSZX not far behind at 4.90%.

JNK

• 1D: -0.22%
• 1M: 0.44%
• YTD: 1.51%
• 6M: 1.97%
• 1Y: 7.24%
• 3Y*: 8.63%
• 5Y*: 3.68%
• 10Y*: 5.01%

HYSZX

• 1D: 0.00%
• 1M: 0.42%
• YTD: 1.50%
• 6M: 2.02%
• 1Y: 6.04%
• 3Y*: 7.38%
• 5Y*: 4.07%
• 10Y*: 4.90%

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

JNK vs. HYSZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JNK SPDR Barclays High Yield Bond ETF	1.51%	8.76%	7.71%	12.42%	-12.19%	4.00%	4.95%	14.88%	-3.28%	6.49%
HYSZX PGIM Short Duration High Yield Income Fund	1.50%	7.84%	6.49%	9.57%	-6.46%	5.48%	4.19%	11.78%	1.20%	4.80%

Correlation

The correlation between JNK and HYSZX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.55

The correlation between JNK and HYSZX shifts across timeframes, from 0.55 (all time) to 0.73 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

JNK vs. HYSZX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JNK

JNK Risk / Return Rank: 60
JNK Sharpe Ratio Rank: 55
JNK Sortino Ratio Rank: 60
JNK Omega Ratio Rank: 58
JNK Calmar Ratio Rank: 58
JNK Martin Ratio Rank: 68

HYSZX

HYSZX Risk / Return Rank: 70
HYSZX Sharpe Ratio Rank: 52
HYSZX Sortino Ratio Rank: 83
HYSZX Omega Ratio Rank: 78
HYSZX Calmar Ratio Rank: 61
HYSZX Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JNK vs. HYSZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Barclays High Yield Bond ETF (JNK) and PGIM Short Duration High Yield Income Fund (HYSZX). 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	HYSZX	Difference
Sharpe ratio: Return per unit of total volatility	1.90	2.13	-0.22
Sortino ratio: Return per unit of downside risk	2.89	3.92	-1.02
Omega ratio: Gain probability vs. loss probability	1.36	1.51	-0.14
Calmar ratio: Return relative to maximum drawdown	2.90	3.01	-0.11
Martin ratio: Return relative to average drawdown	12.79	14.59	-1.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JNK vs. HYSZX - Sharpe Ratio Comparison

The current JNK Sharpe Ratio is 1.90, which is comparable to the HYSZX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of JNK and HYSZX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JNK	HYSZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	2.13	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	1.06	-0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	1.16	-0.56
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	1.16	-0.74

Drawdowns

JNK vs. HYSZX - Drawdown Comparison

The maximum JNK drawdown since its inception was -38.48%, which is greater than HYSZX's maximum drawdown of -18.31%. Use the drawdown chart below to compare losses from any high point for JNK and HYSZX.

Drawdown Indicators

	JNK	HYSZX	Difference
Max Drawdown Largest peak-to-trough decline	-38.48%	-18.31%	-20.17%
Max Drawdown (1Y) Largest decline over 1 year	-2.51%	-2.01%	-0.50%
Max Drawdown (3Y) Largest decline over 3 years	-5.02%	-2.82%	-2.20%
Max Drawdown (5Y) Largest decline over 5 years	-16.67%	-9.77%	-6.90%
Max Drawdown (10Y) Largest decline over 10 years	-22.89%	-18.31%	-4.58%
Current Drawdown Current decline from peak	-0.26%	-0.12%	-0.14%
Average Drawdown Average peak-to-trough decline	-3.70%	-1.19%	-2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.57%	0.41%	+0.16%

Volatility

JNK vs. HYSZX - Volatility Comparison

SPDR Barclays High Yield Bond ETF (JNK) has a higher volatility of 1.13% compared to PGIM Short Duration High Yield Income Fund (HYSZX) at 0.98%. This indicates that JNK's price experiences larger fluctuations and is considered to be riskier than HYSZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JNK	HYSZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	0.98%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	2.97%	2.21%	+0.76%
Volatility (1Y) Calculated over the trailing 1-year period	3.82%	2.85%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.54%	3.88%	+3.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.31%	4.23%	+4.08%

JNK vs. HYSZX - Expense Ratio Comparison

JNK has a 0.40% expense ratio, which is lower than HYSZX's 0.75% expense ratio.

Dividends

JNK vs. HYSZX - Dividend Comparison

JNK's dividend yield for the trailing twelve months is around 6.62%, more than HYSZX's 6.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYSZX PGIM Short Duration High Yield Income Fund	6.38%	6.45%	6.27%	4.84%	5.01%	4.56%	5.00%	5.60%	5.94%	5.73%	6.33%	6.76%
JNK SPDR Barclays High Yield Bond ETF	6.62%	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

Can I hold both JNK and HYSZX in my portfolio?

JNK and HYSZX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JNK or HYSZX?

JNK has higher volatility (1.13%) compared to HYSZX (0.98%). In terms of maximum drawdown, JNK dropped -38.48% vs HYSZX's -18.31%.

Which has better risk-adjusted returns?

HYSZX currently has the higher Sharpe Ratio (2.13 vs 1.90), 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.