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JNK vs. LTPZ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JNK vs. LTPZ

Last updated Jun 4, 2026

JNK (SPDR Barclays High Yield Bond ETF) and LTPZ (PIMCO 15+ Year US TIPS Index ETF) are both exchange-traded funds - JNK is a High Yield Bonds fund tracking the Barclays Capital High Yield Very Liquid Index, while LTPZ is a Inflation-Protected Bonds fund tracking the ICE BofA US Inflation-Linked Treasury (15+ Y). Both are passively managed. Over the past 10 years, JNK returned 5.01%/yr vs 0.75%/yr for LTPZ. At a 0.06 correlation, their price movements are largely independent. JNK charges 0.40%/yr vs 0.20%/yr for LTPZ.

Performance

JNK vs. LTPZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Barclays High Yield Bond ETF (JNK) and PIMCO 15+ Year US TIPS Index ETF (LTPZ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, JNK achieves a 1.51% return, which is significantly higher than LTPZ's 0.41% return. Over the past 10 years, JNK has outperformed LTPZ with an annualized return of 5.01%, while LTPZ has yielded a comparatively lower 0.75% annualized return.

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%

LTPZ

1D
-0.49%
1M
1.02%
YTD
0.41%
6M
-1.15%
1Y
4.72%
3Y*
-0.79%
5Y*
-5.24%
10Y*
0.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JNK vs. LTPZ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
LTPZ
PIMCO 15+ Year US TIPS Index ETF		0.41%4.00%-4.80%0.96%-31.71%7.02%24.89%17.47%-7.22%9.07%

Correlation

The correlation between JNK and LTPZ is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.47

Correlation (3Y)
Calculated over the trailing 3-year period

0.52

Correlation (5Y)
Calculated over the trailing 5-year period

0.41

Correlation (10Y)
Calculated over the trailing 10-year period

0.22

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2009

0.06

Over the past year, JNK and LTPZ have become more correlated (0.47) than their long-term average of 0.06, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Barclays High Yield Bond ETF

PIMCO 15+ Year US TIPS Index ETF

Often compared with JNK:
JNK vs. HYGJNK vs. SPHYJNK vs. USHYJNK vs. VWEHXJNK vs. JEPIJNK vs. VTCJNK vs. SPSB
Often compared with LTPZ:
LTPZ vs. SCHPLTPZ vs. TLTLTPZ vs. TIPXLTPZ vs. VTIPLTPZ vs. VGLTLTPZ vs. HYSLTPZ vs. COMT

Return for Risk

JNK vs. LTPZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JNK
JNK Risk / Return Rank: 6060
Overall Rank
JNK Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
JNK Sortino Ratio Rank: 6060
Sortino Ratio Rank
JNK Omega Ratio Rank: 5858
Omega Ratio Rank
JNK Calmar Ratio Rank: 5858
Calmar Ratio Rank
JNK Martin Ratio Rank: 6868
Martin Ratio Rank
LTPZ
LTPZ Risk / Return Rank: 1616
Overall Rank
LTPZ Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
LTPZ Sortino Ratio Rank: 1515
Sortino Ratio Rank
LTPZ Omega Ratio Rank: 1515
Omega Ratio Rank
LTPZ Calmar Ratio Rank: 1717
Calmar Ratio Rank
LTPZ Martin Ratio Rank: 1616
Martin Ratio Rank
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. LTPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Barclays High Yield Bond ETF (JNK) and PIMCO 15+ Year US TIPS Index ETF (LTPZ). 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.

JNKLTPZDifference

Sharpe ratio

Return per unit of total volatility

1.90

0.51

+1.39

Sortino ratio

Return per unit of downside risk

2.89

0.78

+2.11

Omega ratio

Gain probability vs. loss probability

1.36

1.09

+0.27

Calmar ratio

Return relative to maximum drawdown

2.90

0.68

+2.22

Martin ratio

Return relative to average drawdown

12.79

1.48

+11.31

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. LTPZ - Sharpe Ratio Comparison

The current JNK Sharpe Ratio is 1.90, which is higher than the LTPZ Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of JNK and LTPZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

JNKLTPZDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.90

0.51

+1.39

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.49

-0.33

+0.82

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.60

0.05

+0.55

Sharpe Ratio (All Time)

Calculated using the full available price history

0.42

0.21

+0.21

Drawdowns

JNK vs. LTPZ - Drawdown Comparison

The maximum JNK drawdown since its inception was -38.48%, smaller than the maximum LTPZ drawdown of -40.99%. Use the drawdown chart below to compare losses from any high point for JNK and LTPZ.

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Drawdown Indicators

JNKLTPZDifference

Max Drawdown

Largest peak-to-trough decline

-38.48%

-40.99%

+2.51%

Max Drawdown (1Y)

Largest decline over 1 year

-2.51%

-7.00%

+4.49%

Max Drawdown (3Y)

Largest decline over 3 years

-5.02%

-16.27%

+11.25%

Max Drawdown (5Y)

Largest decline over 5 years

-16.67%

-40.99%

+24.32%

Max Drawdown (10Y)

Largest decline over 10 years

-22.89%

-40.99%

+18.10%

Current Drawdown

Current decline from peak

-0.26%

-32.74%

+32.48%

Average Drawdown

Average peak-to-trough decline

-3.70%

-12.41%

+8.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.57%

3.20%

-2.63%

Volatility

JNK vs. LTPZ - Volatility Comparison

The current volatility for SPDR Barclays High Yield Bond ETF (JNK) is 1.13%, while PIMCO 15+ Year US TIPS Index ETF (LTPZ) has a volatility of 2.32%. This indicates that JNK experiences smaller price fluctuations and is considered to be less risky than LTPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JNKLTPZDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.13%

2.32%

-1.19%

Volatility (6M)

Calculated over the trailing 6-month period

2.97%

6.41%

-3.44%

Volatility (1Y)

Calculated over the trailing 1-year period

3.82%

9.26%

-5.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.54%

15.89%

-8.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.31%

15.07%

-6.76%

JNK vs. LTPZ - Expense Ratio Comparison

JNK has a 0.40% expense ratio, which is higher than LTPZ's 0.20% expense ratio.

Dividends

JNK vs. LTPZ - Dividend Comparison

JNK's dividend yield for the trailing twelve months is around 6.62%, more than LTPZ's 5.23% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
LTPZ
PIMCO 15+ Year US TIPS Index ETF		5.23%4.64%3.71%3.71%8.38%3.56%1.42%1.74%3.05%2.25%2.32%0.71%

Frequently Asked Questions

JNK and LTPZ have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

LTPZ has higher volatility (2.32%) compared to JNK (1.13%). In terms of maximum drawdown, JNK dropped -38.48% vs LTPZ's -40.99%.

On 10-year performance, JNK leads with 5.01% vs 0.75% for LTPZ. On fees, LTPZ is cheaper at 0.20% per year. On volatility, JNK has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, JNK has performed better with a 5.01% return vs 0.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

LTPZ is cheaper with a 0.20% expense ratio, compared with 0.40% for JNK.

JNK has the higher dividend yield at 6.62%, compared with 5.23% for LTPZ.

JNK is categorized as High Yield Bonds, while LTPZ is Inflation-Protected Bonds. JNK tracks Barclays Capital High Yield Very Liquid Index, while LTPZ tracks ICE BofA US Inflation-Linked Treasury (15+ Y). They also come from different issuers: State Street and PIMCO. Their fees differ too: 0.40% for JNK and 0.20% for LTPZ.

JNK currently has the higher Sharpe Ratio (1.90 vs 0.51), 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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