JNK vs. NHYB
JNK (State Street SPDR Bloomberg High Yield Bond ETF) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds - JNK tracks the Bloomberg High Yield Very Liquid Index while NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index. Both are passively managed. Their correlation of 0.90 suggests significant overlap in exposure. JNK charges 0.40%/yr vs 0.08%/yr for NHYB.
Performance
JNK vs. NHYB - Performance Comparison
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Returns By Period
In the year-to-date period, JNK achieves a 1.81% return, which is significantly lower than NHYB's 1.96% return.
JNK
- 1D
- 0.09%
- 1M
- 0.25%
- YTD
- 1.81%
- 6M
- 1.81%
- 1Y
- 6.30%
- 3Y*
- 8.85%
- 5Y*
- 3.58%
- 10Y*
- 5.23%
NHYB
- 1D
- 0.02%
- 1M
- 0.31%
- YTD
- 1.96%
- 6M
- 1.87%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JNK vs. NHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JNK State Street SPDR Bloomberg High Yield Bond ETF | 1.81% | 1.21% |
NHYB Nuveen High Yield Corporate Bond ETF | 1.96% | 1.24% |
Correlation
The correlation between JNK and NHYB is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025 | 0.90 |
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Return for Risk
JNK vs. NHYB — Risk / Return Rank
JNK
NHYB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
JNK vs. NHYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Bloomberg High Yield Bond ETF (JNK) and Nuveen High Yield Corporate Bond ETF (NHYB). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| JNK | NHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.31 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | — | — |
| Martin ratioReturn relative to average drawdown | 11.07 | — | — |
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Drawdowns
JNK vs. NHYB - Drawdown Comparison
The maximum JNK drawdown since its inception was -38.48%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for JNK and NHYB.
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Drawdown Indicators
| JNK | NHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.48% | -2.40% | -36.08% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.02% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -22.89% | — | — |
Current DrawdownCurrent decline from peak | -0.18% | -0.15% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -3.69% | -0.36% | -3.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | — | — |
Volatility
JNK vs. NHYB - Volatility Comparison
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Volatility by Period
| JNK | NHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.05% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 3.62% | +0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.56% | 3.62% | +3.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.29% | 3.62% | +4.67% |
JNK vs. NHYB - Expense Ratio Comparison
JNK has a 0.40% expense ratio, which is higher than NHYB's 0.08% expense ratio.
Dividends
JNK vs. NHYB - Dividend Comparison
JNK's dividend yield for the trailing twelve months is around 6.60%, more than NHYB's 4.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JNK State Street SPDR Bloomberg High Yield Bond ETF | 6.60% | 6.54% | 6.63% | 6.38% | 6.06% | 4.27% | 5.11% | 5.44% | 5.90% | 5.60% | 6.06% | 6.59% |
NHYB Nuveen High Yield Corporate Bond ETF | 4.24% | 1.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.90, JNK and NHYB 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.
On fees, NHYB is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NHYB is cheaper with a 0.08% expense ratio, compared with 0.40% for JNK.
JNK has the higher dividend yield at 6.60%, compared with 4.24% for NHYB.
JNK tracks Bloomberg High Yield Very Liquid Index, while NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index. They also come from different issuers: State Street and Nuveen. Their fees differ too: 0.40% for JNK and 0.08% for NHYB.
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