LTPZ vs. JNK
LTPZ (PIMCO 15+ Year US TIPS Index ETF) and JNK (State Street SPDR Bloomberg High Yield Bond ETF) are both exchange-traded funds - LTPZ is a Inflation-Protected Bonds fund tracking the ICE BofA US Inflation-Linked Treasury (15+ Y), while JNK is a High Yield Bonds fund tracking the Bloomberg High Yield Very Liquid Index. Both are passively managed. Over the past 10 years, LTPZ returned -0.06%/yr vs 4.78%/yr for JNK. Their 0.06 correlation means their historical movements had little consistent relationship. LTPZ charges 0.20%/yr vs 0.40%/yr for JNK.
Performance
LTPZ vs. JNK - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, LTPZ achieves a -3.75% return, which is significantly lower than JNK's 1.73% return. Over the past 10 years, LTPZ has underperformed JNK with an annualized return of -0.06%, while JNK has yielded a comparatively higher 4.78% annualized return.
LTPZ
- 1D
- -0.34%
- 1M
- -3.73%
- 6M
- -3.61%
- YTD
- -3.75%
- 1Y
- -2.50%
- 3Y*
- -1.54%
- 5Y*
- -7.34%
- 10Y*
- -0.06%
- ALL TIME*
- 2.79%
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 | |
| $11.36M | $8.24M | $7.63M |
LTPZ vs. JNK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year US TIPS Index ETF | -3.75% | 4.00% | -4.80% | 0.96% | -31.71% | 7.02% | 24.89% | 17.47% | -7.22% | 9.07% |
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% | 6.49% |
Correlation
The correlation between LTPZ and JNK is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.52 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.42 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2009 | 0.06 |
Over the past year, LTPZ and JNK have become more correlated (0.47) than their long-term average of 0.06, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LTPZ vs. JNK — Risk / Return Rank
LTPZ
JNK
LTPZ vs. JNK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO 15+ Year US TIPS Index ETF (LTPZ) 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.
| LTPZ | JNK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.60 | ||
| Sortino ratioReturn per unit of downside risk | -2.36 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.27 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 2.18 | -2.38 |
| Martin ratioReturn relative to average drawdown | -0.42 | 9.45 | -9.87 |
Loading charts...
Drawdowns
LTPZ vs. JNK - Drawdown Comparison
The maximum LTPZ drawdown since its inception was -40.99%, which is greater than JNK's maximum drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for LTPZ and JNK.
Loading charts...
Drawdown Indicators
| LTPZ | JNK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.99% | -38.48% | -2.51% |
Max Drawdown (1Y)Largest decline over 1 year | -8.09% | -2.51% | -5.58% |
Max Drawdown (3Y)Largest decline over 3 years | -12.64% | -5.02% | -7.62% |
Max Drawdown (5Y)Largest decline over 5 years | -40.99% | -16.67% | -24.32% |
Max Drawdown (10Y)Largest decline over 10 years | -40.99% | -22.89% | -18.10% |
Current DrawdownCurrent decline from peak | -35.53% | -0.49% | -35.04% |
Average DrawdownAverage peak-to-trough decline | -12.60% | -3.67% | -8.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.86% | 0.58% | +3.28% |
Volatility
LTPZ vs. JNK - Volatility Comparison
PIMCO 15+ Year US TIPS Index ETF (LTPZ) has a higher volatility of 2.05% compared to State Street SPDR Bloomberg High Yield Bond ETF (JNK) at 0.73%. This indicates that LTPZ's price experiences larger fluctuations and is considered to be riskier than JNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| LTPZ | JNK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | 0.73% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 6.79% | 3.09% | +3.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.03% | 3.83% | +5.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.85% | 7.55% | +8.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.03% | 8.22% | +6.81% |
LTPZ vs. JNK - Expense Ratio Comparison
LTPZ has a 0.20% expense ratio, which is lower than JNK's 0.40% expense ratio.
Dividends
LTPZ vs. JNK - Dividend Comparison
LTPZ's dividend yield for the trailing twelve months is around 6.35%, 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% |
LTPZ PIMCO 15+ Year US TIPS Index ETF | 6.00% | 4.64% | 3.71% | 3.71% | 8.38% | 3.56% | 1.42% | 1.74% | 3.05% | 2.25% | 2.32% | 0.71% |
Frequently Asked Questions
LTPZ and JNK have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTPZ has higher volatility (2.05%) compared to JNK (0.73%). In terms of maximum drawdown, LTPZ dropped -40.99% vs JNK's -38.48%.
On 10-year performance, JNK leads with 4.78% vs -0.06% for LTPZ. On fees, LTPZ is cheaper at 0.20% per year. On volatility, JNK has been the lower-risk option at 0.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, JNK has performed better with a 4.78% return vs -0.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LTPZ is cheaper with a 0.20% expense ratio, compared with 0.40% for JNK.
JNK has the higher dividend yield at 6.07%, compared with 6.00% for LTPZ.
LTPZ is categorized as Inflation-Protected Bonds, while JNK is High Yield Bonds. LTPZ tracks ICE BofA US Inflation-Linked Treasury (15+ Y), while JNK tracks Bloomberg High Yield Very Liquid Index. They also come from different issuers: PIMCO and State Street. Their fees differ too: 0.20% for LTPZ and 0.40% for JNK.
JNK currently has the higher Sharpe Ratio (1.43 vs -0.18), 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.
Find the right allocation for LTPZ and JNK
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer