JNK vs. SPSB
Compare and contrast key facts about SPDR Barclays High Yield Bond ETF (JNK) and SPDR Portfolio Short Term Corporate Bond ETF (SPSB).
JNK and SPSB 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. SPSB is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index. It was launched on Dec 16, 2009. Both JNK and SPSB 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 SPSB.
Key characteristics
| JNK | SPSB | |
|---|---|---|
| YTD Return | 0.28% | 0.53% |
| 1Y Return | 8.47% | 4.35% |
| 3Y Return (Ann) | 0.52% | 0.78% |
| 5Y Return (Ann) | 2.60% | 1.89% |
| 10Y Return (Ann) | 2.87% | 1.76% |
| Sharpe Ratio | 1.30 | 2.07 |
| Daily Std Dev | 6.17% | 2.04% |
| Max Drawdown | -38.48% | -11.75% |
| Current Drawdown | -1.48% | -0.27% |
Correlation
The correlation between JNK and SPSB is 0.21, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
JNK vs. SPSB - Performance Comparison
In the year-to-date period, JNK achieves a 0.28% return, which is significantly lower than SPSB's 0.53% return. Over the past 10 years, JNK has outperformed SPSB with an annualized return of 2.87%, while SPSB has yielded a comparatively lower 1.76% 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. SPSB - Expense Ratio Comparison
JNK has a 0.40% expense ratio, which is higher than SPSB's 0.07% expense ratio.
Risk-Adjusted Performance
JNK vs. SPSB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Barclays High Yield Bond ETF (JNK) and SPDR Portfolio Short Term Corporate Bond ETF (SPSB). 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. SPSB - Dividend Comparison
JNK's dividend yield for the trailing twelve months is around 6.07%, more than SPSB's 4.08% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JNK SPDR Barclays High Yield Bond ETF | 6.07% | 6.38% | 6.06% | 4.27% | 5.11% | 5.44% | 5.90% | 5.60% | 6.06% | 6.59% | 5.99% | 6.05% |
SPSB SPDR Portfolio Short Term Corporate Bond ETF | 4.08% | 4.05% | 1.92% | 1.19% | 1.94% | 2.77% | 2.36% | 1.94% | 1.65% | 1.43% | 1.24% | 1.41% |
Drawdowns
JNK vs. SPSB - Drawdown Comparison
The maximum JNK drawdown since its inception was -38.48%, which is greater than SPSB's maximum drawdown of -11.75%. Use the drawdown chart below to compare losses from any high point for JNK and SPSB. For additional features, visit the drawdowns tool.
Volatility
JNK vs. SPSB - Volatility Comparison
SPDR Barclays High Yield Bond ETF (JNK) has a higher volatility of 1.69% compared to SPDR Portfolio Short Term Corporate Bond ETF (SPSB) at 0.53%. This indicates that JNK's price experiences larger fluctuations and is considered to be riskier than SPSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.