JNK vs. VTC
JNK (State Street SPDR Bloomberg High Yield Bond ETF) and VTC (Vanguard Total Corporate Bond ETF) are both exchange-traded funds - JNK is a High Yield Bonds fund tracking the Bloomberg High Yield Very Liquid Index, while VTC is a Corporate Bonds fund tracking the Bloomberg U.S. Corporate Bond Index. Both are passively managed. Over the past 5 years, JNK returned 3.65%/yr vs 0.35%/yr for VTC. At a 0.48 correlation, their price movements are largely independent. JNK charges 0.40%/yr vs 0.03%/yr for VTC.
Performance
JNK vs. VTC - Performance Comparison
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Returns By Period
In the year-to-date period, JNK achieves a 1.83% return, which is significantly higher than VTC's 0.70% return.
JNK
- 1D
- -0.09%
- 1M
- 0.60%
- YTD
- 1.83%
- 6M
- 2.14%
- 1Y
- 6.86%
- 3Y*
- 8.93%
- 5Y*
- 3.65%
- 10Y*
- 5.05%
VTC
- 1D
- -0.25%
- 1M
- 0.64%
- YTD
- 0.70%
- 6M
- 0.82%
- 1Y
- 5.20%
- 3Y*
- 5.18%
- 5Y*
- 0.35%
- 10Y*
- —
JNK vs. VTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JNK State Street SPDR Bloomberg High Yield Bond ETF | 1.83% | 8.76% | 7.71% | 12.42% | -12.19% | 4.00% | 4.95% | 14.88% | -3.28% | 0.82% |
VTC Vanguard Total Corporate Bond ETF | 0.70% | 7.58% | 2.15% | 8.58% | -15.68% | -1.41% | 9.30% | 14.60% | -2.55% | 0.85% |
Correlation
The correlation between JNK and VTC is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2017 | 0.48 |
Over the past year, JNK and VTC have become more correlated (0.72) than their long-term average of 0.48, meaning their price movements have been converging.
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Return for Risk
JNK vs. VTC — Risk / Return Rank
JNK
VTC
JNK vs. VTC - 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 Vanguard Total Corporate Bond ETF (VTC). 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 | VTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.21 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | 1.81 | +0.93 |
| Martin ratioReturn relative to average drawdown | 12.05 | 5.63 | +6.43 |
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Drawdowns
JNK vs. VTC - Drawdown Comparison
The maximum JNK drawdown since its inception was -38.48%, which is greater than VTC's maximum drawdown of -22.05%. Use the drawdown chart below to compare losses from any high point for JNK and VTC.
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Drawdown Indicators
| JNK | VTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.48% | -22.05% | -16.43% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -2.88% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -5.02% | -6.46% | +1.44% |
Max Drawdown (5Y)Largest decline over 5 years | -16.67% | -22.05% | +5.38% |
Max Drawdown (10Y)Largest decline over 10 years | -22.89% | — | — |
Current DrawdownCurrent decline from peak | -0.16% | -0.88% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -3.69% | -5.81% | +2.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 0.92% | -0.35% |
Volatility
JNK vs. VTC - Volatility Comparison
The current volatility for State Street SPDR Bloomberg High Yield Bond ETF (JNK) is 1.07%, while Vanguard Total Corporate Bond ETF (VTC) has a volatility of 1.20%. This indicates that JNK experiences smaller price fluctuations and is considered to be less risky than VTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JNK | VTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.20% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 3.32% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.88% | 4.34% | -0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.56% | 7.08% | +0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.30% | 7.67% | +0.63% |
JNK vs. VTC - Expense Ratio Comparison
JNK has a 0.40% expense ratio, which is higher than VTC's 0.03% expense ratio.
Dividends
JNK vs. VTC - Dividend Comparison
JNK's dividend yield for the trailing twelve months is around 6.60%, more than VTC's 4.92% 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% |
VTC Vanguard Total Corporate Bond ETF | 4.92% | 4.76% | 4.50% | 3.80% | 3.13% | 2.36% | 2.69% | 3.34% | 3.53% | 0.55% | 0.00% | 0.00% |
Frequently Asked Questions
JNK and VTC have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTC has higher volatility (1.20%) compared to JNK (1.07%). In terms of maximum drawdown, JNK dropped -38.48% vs VTC's -22.05%.
On 5-year performance, JNK leads with 3.65% vs 0.35% for VTC. On fees, VTC is cheaper at 0.03% per year. On volatility, JNK has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JNK has performed better with a 3.65% return vs 0.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTC is cheaper with a 0.03% expense ratio, compared with 0.40% for JNK.
JNK has the higher dividend yield at 6.60%, compared with 4.92% for VTC.
JNK is categorized as High Yield Bonds, while VTC is Corporate Bonds. JNK tracks Bloomberg High Yield Very Liquid Index, while VTC tracks Bloomberg U.S. Corporate Bond Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.40% for JNK and 0.03% for VTC.
JNK currently has the higher Sharpe Ratio (1.78 vs 1.20), 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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