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JNKE.L vs. HYG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JNKE.L vs. HYG

Last updated Jun 5, 2026

JNKE.L (SPDR Bloomberg Euro High Yield Bond UCITS ETF) and HYG (iShares iBoxx $ High Yield Corporate Bond ETF) are both exchange-traded funds - JNKE.L is a European High Yield Bonds fund tracking the Bloomberg Pan Euro HY Euro TR EUR, while HYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index. Both are passively managed. Over the past 10 years, JNKE.L returned 3.10%/yr vs 4.66%/yr for HYG. At a 0.22 correlation, their price movements are largely independent. JNKE.L charges 0.40%/yr vs 0.49%/yr for HYG.

Performance

JNKE.L vs. HYG - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR Bloomberg Euro High Yield Bond UCITS ETF (JNKE.L) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

JNKE.L is traded in EUR, while HYG is traded in USD. To make them comparable, the HYG values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, JNKE.L achieves a 1.14% return, which is significantly lower than HYG's 2.99% return. Over the past 10 years, JNKE.L has underperformed HYG with an annualized return of 3.10%, while HYG has yielded a comparatively higher 4.66% annualized return.

JNKE.L

1D
0.08%
1M
0.42%
YTD
1.14%
6M
1.57%
1Y
3.53%
3Y*
6.63%
5Y*
2.49%
10Y*
3.10%

HYG

1D
0.30%
1M
1.56%
YTD
2.99%
6M
2.39%
1Y
5.50%
3Y*
5.68%
5Y*
4.84%
10Y*
4.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JNKE.L vs. HYG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
JNKE.L
SPDR Bloomberg Euro High Yield Bond UCITS ETF		1.14%5.01%5.84%11.68%-10.56%2.88%1.85%10.51%-4.34%4.97%
HYG
iShares iBoxx $ High Yield Corporate Bond ETF		2.99%-4.29%15.09%8.19%-5.46%11.52%-4.14%16.67%2.58%-6.96%

Correlation

The correlation between JNKE.L and HYG is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

0.08

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

0.15

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

0.19

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

0.22

Correlation (All Time)
Calculated using the full available price history since Feb 13, 2012

0.22

The correlation between JNKE.L and HYG shifts across timeframes, from 0.08 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.

JNKE.L vs. HYG - Sectors Allocation Comparison

Sectors
JNKE.L
HYG

Consumer Cyclical

12.9%

-

Communication Services

5.4%

-

Industrials

4.5%

-

Technology

3.4%

-

Real Estate

2.3%
0.4%

Basic Materials

1.1%

-

Healthcare

1.0%

-

Financial Services

0.8%

-

Consumer Defensive

0.5%

-

Utilities

0.4%
99.6%

Energy

0.4%

-

Consumer Cyclical

JNKE.L
12.9%
HYG

-

Communication Services

JNKE.L
5.4%
HYG

-

Industrials

JNKE.L
4.5%
HYG

-

Technology

JNKE.L
3.4%
HYG

-

Real Estate

JNKE.L
2.3%
HYG
0.4%

Basic Materials

JNKE.L
1.1%
HYG

-

Healthcare

JNKE.L
1.0%
HYG

-

Financial Services

JNKE.L
0.8%
HYG

-

Consumer Defensive

JNKE.L
0.5%
HYG

-

Utilities

JNKE.L
0.4%
HYG
99.6%

Energy

JNKE.L
0.4%
HYG

-

Compare stocks, funds, or ETFs

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

SPDR Bloomberg Euro High Yield Bond UCITS ETF

iShares iBoxx $ High Yield Corporate Bond ETF

Often compared with JNKE.L:
JNKE.L vs. JNKJNKE.L vs. JNKS.LJNKE.L vs. FALNJNKE.L vs. YIEL.LJNKE.L vs. SHYG.LJNKE.L vs. XZHE.LJNKE.L vs. XHYG.L
Often compared with HYG:
HYG vs. LQDHYG vs. JNKHYG vs. SPHYHYG vs. AGGHYG vs. USHYHYG vs. HYGHHYG vs. SHYG

Return for Risk

JNKE.L vs. HYG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JNKE.L
JNKE.L Risk / Return Rank: 2020
Overall Rank
JNKE.L Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
JNKE.L Sortino Ratio Rank: 1515
Sortino Ratio Rank
JNKE.L Omega Ratio Rank: 2323
Omega Ratio Rank
JNKE.L Calmar Ratio Rank: 1515
Calmar Ratio Rank
JNKE.L Martin Ratio Rank: 2828
Martin Ratio Rank
HYG
HYG Risk / Return Rank: 5454
Overall Rank
HYG Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
HYG Sortino Ratio Rank: 5151
Sortino Ratio Rank
HYG Omega Ratio Rank: 5151
Omega Ratio Rank
HYG Calmar Ratio Rank: 5555
Calmar Ratio Rank
HYG Martin Ratio Rank: 6565
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.

JNKE.L vs. HYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Euro High Yield Bond UCITS ETF (JNKE.L) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.

JNKE.LHYGDifference
Sharpe ratioReturn per unit of total volatility
0.44
0.92

-0.48

Sortino ratioReturn per unit of downside risk
0.69
1.31

-0.62

Omega ratioGain probability vs. loss probability

1.16

1.18

-0.02

Calmar ratioReturn relative to maximum drawdown

0.47

1.54

-1.07

Martin ratioReturn relative to average drawdown

3.85

5.14

-1.29

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JNKE.L vs. HYG - Sharpe Ratio Comparison

The current JNKE.L Sharpe Ratio is 0.44, which is lower than the HYG Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of JNKE.L and HYG, 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

JNKE.LHYGDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.44

0.92

-0.48

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.39

0.57

-0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

0.48

-0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.67

0.49

+0.18

Drawdowns

JNKE.L vs. HYG - Drawdown Comparison

The maximum JNKE.L drawdown since its inception was -25.52%, smaller than the maximum HYG drawdown of -31.22%. Use the drawdown chart below to compare losses from any high point for JNKE.L and HYG.

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Drawdown Indicators

JNKE.LHYGDifference

Max Drawdown

Largest peak-to-trough decline

-25.52%

-31.22%

+5.70%

Max Drawdown (1Y)

Largest decline over 1 year

-7.12%

-3.58%

-3.54%

Max Drawdown (3Y)

Largest decline over 3 years

-7.12%

-12.22%

+5.10%

Max Drawdown (5Y)

Largest decline over 5 years

-16.25%

-12.22%

-4.03%

Max Drawdown (10Y)

Largest decline over 10 years

-25.52%

-21.61%

-3.91%

Current Drawdown

Current decline from peak

-0.13%

-3.48%

+3.35%

Average Drawdown

Average peak-to-trough decline

-2.24%

-5.45%

+3.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.86%

1.07%

-0.21%

Volatility

JNKE.L vs. HYG - Volatility Comparison

SPDR Bloomberg Euro High Yield Bond UCITS ETF (JNKE.L) has a higher volatility of 1.15% compared to iShares iBoxx $ High Yield Corporate Bond ETF (HYG) at 0.85%. This indicates that JNKE.L's price experiences larger fluctuations and is considered to be riskier than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JNKE.LHYGDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.15%

0.85%

+0.30%

Volatility (6M)

Calculated over the trailing 6-month period

7.35%

4.15%

+3.20%

Volatility (1Y)

Calculated over the trailing 1-year period

7.53%

6.00%

+1.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.35%

8.59%

-2.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.96%

9.78%

-2.82%

JNKE.L vs. HYG - Expense Ratio Comparison

JNKE.L has a 0.40% expense ratio, which is lower than HYG's 0.49% expense ratio.

Dividends

JNKE.L vs. HYG - Dividend Comparison

JNKE.L's dividend yield for the trailing twelve months is around 5.35%, less than HYG's 5.94% yield.

PositionTTM20252024202320222021202020192018201720162015
HYG
iShares iBoxx $ High Yield Corporate Bond ETF		5.94%5.71%6.01%5.74%5.30%4.02%4.88%4.99%5.54%5.12%5.27%5.90%
JNKE.L
SPDR Bloomberg Euro High Yield Bond UCITS ETF		5.35%5.48%5.85%4.95%3.47%2.91%3.14%3.08%2.87%3.57%3.58%3.92%

Frequently Asked Questions

JNKE.L and HYG have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, JNKE.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

JNKE.L is cheaper with a 0.40% expense ratio, compared with 0.49% for HYG.

JNKE.L is categorized as European High Yield Bonds, while HYG is High Yield Bonds. JNKE.L tracks Bloomberg Pan Euro HY Euro TR EUR, while HYG tracks Markit iBoxx USD Liquid High Yield Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for JNKE.L and 0.49% for HYG.

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