MLN vs. SJNK
Compare and contrast key facts about VanEck Long Muni ETF (MLN) and SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK).
MLN and SJNK are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MLN is a passively managed fund by VanEck that tracks the performance of the Bloomberg AMT-Free Long Continuous. It was launched on Jan 2, 2008. SJNK is a passively managed fund by State Street that tracks the performance of the Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y). It was launched on Mar 15, 2012. Both MLN and SJNK are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MLN or SJNK.
Key characteristics
| MLN | SJNK | |
|---|---|---|
| YTD Return | 1.50% | 8.53% |
| 1Y Return | 11.02% | 13.69% |
| 3Y Return (Ann) | -3.01% | 4.65% |
| 5Y Return (Ann) | -0.02% | 5.28% |
| 10Y Return (Ann) | 2.23% | 4.36% |
| Sharpe Ratio | 1.59 | 3.49 |
| Sortino Ratio | 2.30 | 5.55 |
| Omega Ratio | 1.31 | 1.72 |
| Calmar Ratio | 0.54 | 7.82 |
| Martin Ratio | 8.52 | 31.51 |
| Ulcer Index | 1.19% | 0.42% |
| Daily Std Dev | 6.39% | 3.75% |
| Max Drawdown | -28.36% | -19.74% |
| Current Drawdown | -10.01% | 0.00% |
Correlation
The correlation between MLN and SJNK is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
MLN vs. SJNK - Performance Comparison
In the year-to-date period, MLN achieves a 1.50% return, which is significantly lower than SJNK's 8.53% return. Over the past 10 years, MLN has underperformed SJNK with an annualized return of 2.23%, while SJNK has yielded a comparatively higher 4.36% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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MLN vs. SJNK - Expense Ratio Comparison
MLN has a 0.24% expense ratio, which is lower than SJNK's 0.40% expense ratio.
Risk-Adjusted Performance
MLN vs. SJNK - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Long Muni ETF (MLN) and SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK). 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.
Dividends
MLN vs. SJNK - Dividend Comparison
MLN's dividend yield for the trailing twelve months is around 3.54%, less than SJNK's 7.26% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLN VanEck Long Muni ETF | 3.54% | 3.19% | 2.67% | 2.52% | 2.69% | 2.87% | 3.09% | 2.91% | 3.16% | 3.39% | 3.78% | 4.43% |
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF | 7.26% | 7.20% | 5.85% | 4.21% | 5.34% | 5.64% | 5.69% | 5.64% | 5.65% | 5.81% | 5.46% | 5.34% |
Drawdowns
MLN vs. SJNK - Drawdown Comparison
The maximum MLN drawdown since its inception was -28.36%, which is greater than SJNK's maximum drawdown of -19.74%. Use the drawdown chart below to compare losses from any high point for MLN and SJNK. For additional features, visit the drawdowns tool.
Volatility
MLN vs. SJNK - Volatility Comparison
VanEck Long Muni ETF (MLN) has a higher volatility of 3.18% compared to SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) at 0.77%. This indicates that MLN's price experiences larger fluctuations and is considered to be riskier than SJNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.