JPIB vs. JNK
JPIB (JPMorgan International Bond Opportunities ETF) and JNK (State Street SPDR Bloomberg High Yield Bond ETF) are both exchange-traded funds - JPIB is a Global Bonds fund actively managed by JPMorgan, while JNK is a High Yield Bonds fund tracking the Bloomberg High Yield Very Liquid Index. JPIB is actively managed, while JNK is passively managed. Over the past 5 years, JPIB returned 2.70%/yr vs 3.51%/yr for JNK. Their 0.47 correlation means their historical movements had little consistent relationship. JPIB charges 0.50%/yr vs 0.40%/yr for JNK.
Performance
JPIB vs. JNK - Performance Comparison
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Returns By Period
In the year-to-date period, JPIB achieves a 0.67% return, which is significantly lower than JNK's 1.73% return.
JPIB
- 1D
- 0.06%
- 1M
- -0.83%
- 6M
- -0.25%
- YTD
- 0.67%
- 1Y
- 3.16%
- 3Y*
- 5.80%
- 5Y*
- 2.70%
- 10Y*
- —
- ALL TIME*
- 3.52%
JNK
- 1D
- 0.02%
- 1M
- -0.32%
- 6M
- 1.10%
- YTD
- 1.73%
- 1Y
- 5.44%
- 3Y*
- 8.18%
- 5Y*
- 3.51%
- 10Y*
- 4.78%
- ALL TIME*
- 4.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $248.34M | $230.70M | $261.77M | |
| $7.79M | $8.91M | $9.60M |
JPIB vs. JNK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPIB JPMorgan International Bond Opportunities ETF | 0.67% | 8.19% | 3.48% | 8.68% | -6.38% | 0.14% | 7.14% | 10.76% | -2.17% | 2.61% |
JNK State Street SPDR Bloomberg High Yield Bond ETF | 1.73% | 8.76% | 7.71% | 12.42% | -12.19% | 4.00% | 4.95% | 14.88% | -3.28% | 1.88% |
Correlation
The correlation between JPIB and JNK is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jul 5, 2017 | 0.47 |
Over the past year, JPIB and JNK have become more correlated (0.70) than their long-term average of 0.47, meaning their price movements have been converging.
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Return for Risk
JPIB vs. JNK — Risk / Return Rank
JPIB
JNK
JPIB vs. JNK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan International Bond Opportunities ETF (JPIB) and State Street SPDR Bloomberg High Yield Bond ETF (JNK). 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.
| JPIB | JNK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.27 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 2.18 | -1.21 |
| Martin ratioReturn relative to average drawdown | 3.18 | 9.45 | -6.27 |
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Drawdowns
JPIB vs. JNK - Drawdown Comparison
The maximum JPIB drawdown since its inception was -13.13%, smaller than the maximum JNK drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for JPIB and JNK.
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Drawdown Indicators
| JPIB | JNK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.13% | -38.48% | +25.35% |
Max Drawdown (1Y)Largest decline over 1 year | -3.75% | -2.51% | -1.24% |
Max Drawdown (3Y)Largest decline over 3 years | -3.75% | -5.02% | +1.27% |
Max Drawdown (5Y)Largest decline over 5 years | -11.83% | -16.67% | +4.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.89% | — |
Current DrawdownCurrent decline from peak | -1.19% | -0.49% | -0.70% |
Average DrawdownAverage peak-to-trough decline | -1.91% | -3.67% | +1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 0.58% | +0.56% |
Volatility
JPIB vs. JNK - Volatility Comparison
JPMorgan International Bond Opportunities ETF (JPIB) and State Street SPDR Bloomberg High Yield Bond ETF (JNK) have volatilities of 0.74% and 0.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPIB | JNK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 0.73% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 3.09% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 3.83% | -0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.13% | 7.55% | -3.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 8.22% | -3.80% |
JPIB vs. JNK - Expense Ratio Comparison
JPIB has a 0.50% expense ratio, which is higher than JNK's 0.40% expense ratio.
Dividends
JPIB vs. JNK - Dividend Comparison
JPIB's dividend yield for the trailing twelve months is around 4.96%, less than JNK's 6.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JNK State Street SPDR Bloomberg High Yield Bond ETF | 6.07% | 6.54% | 6.63% | 6.38% | 6.06% | 4.27% | 5.11% | 5.44% | 5.90% | 5.60% | 6.06% | 6.59% |
JPIB JPMorgan International Bond Opportunities ETF | 4.58% | 4.85% | 4.57% | 4.35% | 3.10% | 2.59% | 3.14% | 4.66% | 5.83% | 1.81% | 0.00% | 0.00% |
Frequently Asked Questions
JPIB and JNK have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JPIB has higher volatility (0.74%) compared to JNK (0.73%). In terms of maximum drawdown, JPIB dropped -13.13% vs JNK's -38.48%.
On 5-year performance, JNK leads with 3.51% vs 2.70% for JPIB. On fees, JNK is cheaper at 0.40% per year. Their volatility is very similar. 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 3.51% return vs 2.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JNK is cheaper with a 0.40% expense ratio, compared with 0.50% for JPIB.
JNK has the higher dividend yield at 6.07%, compared with 4.58% for JPIB.
JPIB is categorized as Global Bonds, while JNK is High Yield Bonds. They also come from different issuers: JPMorgan and State Street. Their fees differ too: 0.50% for JPIB and 0.40% for JNK.
JNK currently has the higher Sharpe Ratio (1.43 vs 1.02), 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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