NHYB vs. JNK

Last updated Jun 27, 2026

NHYB (Nuveen High Yield Corporate Bond ETF) and JNK (State Street SPDR Bloomberg High Yield Bond ETF) are both High Yield Bonds funds - NHYB tracks the ICE BofA BB-B US Cash Pay High Yield Constrained Index while JNK tracks the Bloomberg High Yield Very Liquid Index. Both are passively managed. Their correlation of 0.90 suggests significant overlap in exposure. NHYB charges 0.08%/yr vs 0.40%/yr for JNK.

Performance

NHYB vs. JNK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen High Yield Corporate Bond ETF (NHYB) and State Street SPDR Bloomberg High Yield Bond ETF (JNK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NHYB achieves a 1.99% return, which is significantly higher than JNK's 1.74% return.

NHYB

• 1D: 0.04%
• 1M: 0.33%
• YTD: 1.99%
• 6M: 1.95%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JNK

• 1D: -0.06%
• 1M: 0.23%
• YTD: 1.74%
• 6M: 1.80%
• 1Y: 5.90%
• 3Y*: 8.72%
• 5Y*: 3.57%
• 10Y*: 5.08%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NHYB vs. JNK - Yearly Performance Comparison

	2026 (YTD)	2025
NHYB Nuveen High Yield Corporate Bond ETF	1.99%	1.24%
JNK State Street SPDR Bloomberg High Yield Bond ETF	1.74%	1.21%

Correlation

The correlation between NHYB and JNK is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025	0.90

Return for Risk

NHYB vs. JNK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NHYB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

JNK

JNK Risk / Return Rank: 55
JNK Sharpe Ratio Rank: 49
JNK Sortino Ratio Rank: 54
JNK Omega Ratio Rank: 51
JNK Calmar Ratio Rank: 54
JNK Martin Ratio Rank: 65

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.

NHYB vs. JNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen High Yield Corporate Bond ETF (NHYB) 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.

	NHYB	JNK	Difference
Sharpe ratio: Return per unit of total volatility	—	1.54	—
Sortino ratio: Return per unit of downside risk	—	2.33	—
Omega ratio: Gain probability vs. loss probability	—	1.29	—
Calmar ratio: Return relative to maximum drawdown	—	2.36	—
Martin ratio: Return relative to average drawdown	—	10.36	—

Drawdowns

NHYB vs. JNK - Drawdown Comparison

The maximum NHYB drawdown since its inception was -2.40%, smaller than the maximum JNK drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for NHYB and JNK.

Drawdown Indicators

	NHYB	JNK	Difference
Max Drawdown Largest peak-to-trough decline	-2.40%	-38.48%	+36.08%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.51%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-5.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.67%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.89%	—
Current Drawdown Current decline from peak	-0.12%	-0.24%	+0.12%
Average Drawdown Average peak-to-trough decline	-0.36%	-3.69%	+3.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.57%	—

Volatility

Volatility by Period

	NHYB	JNK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.03%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.05%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.61%	3.87%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.61%	7.55%	-3.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.61%	8.27%	-4.66%

NHYB vs. JNK - Expense Ratio Comparison

NHYB has a 0.08% expense ratio, which is lower than JNK's 0.40% expense ratio.

Dividends

NHYB vs. JNK - Dividend Comparison

NHYB's dividend yield for the trailing twelve months is around 4.24%, less than JNK's 6.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JNK State Street SPDR Bloomberg High Yield Bond ETF	6.61%	6.54%	6.63%	6.38%	6.06%	4.27%	5.11%	5.44%	5.90%	5.60%	6.06%	6.59%
NHYB Nuveen High Yield Corporate Bond ETF	4.24%	1.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NHYB and JNK in my portfolio?

With a correlation of 0.90, NHYB and JNK move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, NHYB or JNK?

On fees, NHYB is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NHYB or JNK?

NHYB is cheaper with a 0.08% expense ratio, compared with 0.40% for JNK.

Which ETF pays a higher dividend yield, NHYB or JNK?

JNK has the higher dividend yield at 6.61%, compared with 4.24% for NHYB.

What is the main difference between NHYB and JNK?

NHYB tracks ICE BofA BB-B US Cash Pay High Yield Constrained Index, while JNK tracks Bloomberg High Yield Very Liquid Index. They also come from different issuers: Nuveen and State Street. Their fees differ too: 0.08% for NHYB and 0.40% for JNK.