JNKE.L vs. TLT
JNKE.L (SPDR Bloomberg Euro High Yield Bond UCITS ETF) and TLT (iShares 20+ Year Treasury 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 TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 10 years, JNKE.L returned 3.10%/yr vs -1.77%/yr for TLT. At a correlation of -0.03, they often move in opposite directions. JNKE.L charges 0.40%/yr vs 0.15%/yr for TLT.
Performance
JNKE.L vs. TLT - Performance Comparison
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Different Trading Currencies
JNKE.L is traded in EUR, while TLT is traded in USD. To make them comparable, the TLT 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 TLT's 1.39% return. Over the past 10 years, JNKE.L has outperformed TLT with an annualized return of 3.10%, while TLT has yielded a comparatively lower -1.77% 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%
TLT
- 1D
- 0.28%
- 1M
- 1.16%
- YTD
- 1.39%
- 6M
- -0.29%
- 1Y
- 2.20%
- 3Y*
- -4.43%
- 5Y*
- -5.34%
- 10Y*
- -1.77%
JNKE.L vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
TLT iShares 20+ Year Treasury Bond ETF | 1.39% | -8.12% | -1.98% | -0.31% | -26.97% | 2.54% | 8.41% | 16.70% | 3.01% | -4.24% |
Correlation
The correlation between JNKE.L and TLT is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2012 | -0.03 |
The correlation between JNKE.L and TLT shifts across timeframes, from -0.05 (10 years) to 0.15 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
JNKE.L vs. TLT — Risk / Return Rank
JNKE.L
TLT
JNKE.L vs. TLT - 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 20+ Year Treasury Bond ETF (TLT). 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.L | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.05 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | 0.30 | +0.17 |
| Martin ratioReturn relative to average drawdown | 3.85 | 0.64 | +3.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JNKE.L | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.44 | 0.23 | +0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | -0.33 | +0.72 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | -0.11 | +0.56 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.22 | +0.46 |
Drawdowns
JNKE.L vs. TLT - Drawdown Comparison
The maximum JNKE.L drawdown since its inception was -25.52%, smaller than the maximum TLT drawdown of -46.77%. Use the drawdown chart below to compare losses from any high point for JNKE.L and TLT.
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Drawdown Indicators
| JNKE.L | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.52% | -46.77% | +21.25% |
Max Drawdown (1Y)Largest decline over 1 year | -7.12% | -7.42% | +0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -7.12% | -17.13% | +10.01% |
Max Drawdown (5Y)Largest decline over 5 years | -16.25% | -39.79% | +23.54% |
Max Drawdown (10Y)Largest decline over 10 years | -25.52% | -46.77% | +21.25% |
Current DrawdownCurrent decline from peak | -0.13% | -43.78% | +43.65% |
Average DrawdownAverage peak-to-trough decline | -2.24% | -18.50% | +16.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 3.47% | -2.61% |
Volatility
JNKE.L vs. TLT - Volatility Comparison
The current volatility for SPDR Bloomberg Euro High Yield Bond UCITS ETF (JNKE.L) is 1.15%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.08%. This indicates that JNKE.L experiences smaller price fluctuations and is considered to be less risky than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JNKE.L | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 2.08% | -0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 7.35% | 7.02% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.53% | 9.71% | -2.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.35% | 16.22% | -9.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.96% | 15.64% | -8.68% |
JNKE.L vs. TLT - Expense Ratio Comparison
JNKE.L has a 0.40% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
JNKE.L vs. TLT - Dividend Comparison
JNKE.L's dividend yield for the trailing twelve months is around 5.35%, more than TLT's 4.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TLT iShares 20+ Year Treasury Bond ETF | 4.60% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
JNKE.L and TLT have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TLT is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TLT is cheaper with a 0.15% expense ratio, compared with 0.40% for JNKE.L.
JNKE.L is categorized as European High Yield Bonds, while TLT is Government Bonds. JNKE.L tracks Bloomberg Pan Euro HY Euro TR EUR, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for JNKE.L and 0.15% for TLT.
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