NJNK vs. JPHY

Last updated Jul 14, 2026

NJNK (Columbia U.S. High Yield ETF) and JPHY (JPMorgan High Yield Research Enhanced ETF) are both High Yield Bonds funds. Both are actively managed. Over the past year, NJNK returned 5.75% vs 5.98% for JPHY. A 0.79 correlation means they provide meaningful diversification when combined. NJNK charges 0.46%/yr vs 0.24%/yr for JPHY.

Performance

NJNK vs. JPHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia U.S. High Yield ETF (NJNK) and JPMorgan High Yield Research Enhanced ETF (JPHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NJNK achieves a 1.52% return, which is significantly lower than JPHY's 2.22% return.

NJNK

• 1D: -0.32%
• 1M: -0.03%
• 6M: 1.33%
• YTD: 1.52%
• 1Y: 5.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JPHY

• 1D: -0.16%
• 1M: -0.00%
• 6M: 1.78%
• YTD: 2.22%
• 1Y: 5.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NJNK vs. JPHY - Yearly Performance Comparison

	2026 (YTD)	2025
NJNK Columbia U.S. High Yield ETF	1.52%	4.33%
JPHY JPMorgan High Yield Research Enhanced ETF	2.22%	4.06%

Correlation

The correlation between NJNK and JPHY is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.79

The correlation between NJNK and JPHY has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.

Return for Risk

NJNK vs. JPHY — Risk / Return Rank

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

NJNK

NJNK Risk / Return Rank: 57
NJNK Sharpe Ratio Rank: 52
NJNK Sortino Ratio Rank: 57
NJNK Omega Ratio Rank: 54
NJNK Calmar Ratio Rank: 55
NJNK Martin Ratio Rank: 64

JPHY

JPHY Risk / Return Rank: 85
JPHY Sharpe Ratio Rank: 79
JPHY Sortino Ratio Rank: 87
JPHY Omega Ratio Rank: 85
JPHY Calmar Ratio Rank: 84
JPHY Martin Ratio Rank: 91

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.

NJNK vs. JPHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia U.S. High Yield ETF (NJNK) and JPMorgan High Yield Research Enhanced ETF (JPHY). 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.

	NJNK	JPHY	Difference
Sharpe ratio: Return per unit of total volatility	1.44	2.00	-0.57
Sortino ratio: Return per unit of downside risk	2.17	3.15	-0.98
Omega ratio: Gain probability vs. loss probability	1.27	1.41	-0.14
Calmar ratio: Return relative to maximum drawdown	2.19	3.64	-1.44
Martin ratio: Return relative to average drawdown	9.10	16.80	-7.70

NJNK vs. JPHY - Sharpe Ratio Comparison

The current NJNK Sharpe Ratio is 1.44, which is comparable to the JPHY Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of NJNK and JPHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NJNK vs. JPHY - Drawdown Comparison

The maximum NJNK drawdown since its inception was -4.48%, which is greater than JPHY's maximum drawdown of -1.65%. Use the drawdown chart below to compare losses from any high point for NJNK and JPHY.

Drawdown Indicators

	NJNK	JPHY	Difference
Max Drawdown Largest peak-to-trough decline	-4.48%	-1.65%	-2.83%
Max Drawdown (1Y) Largest decline over 1 year	-2.63%	-1.65%	-0.98%
Current Drawdown Current decline from peak	-0.60%	-0.49%	-0.11%
Average Drawdown Average peak-to-trough decline	-0.48%	-0.21%	-0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	0.36%	+0.27%

Volatility

NJNK vs. JPHY - Volatility Comparison

Columbia U.S. High Yield ETF (NJNK) has a higher volatility of 0.90% compared to JPMorgan High Yield Research Enhanced ETF (JPHY) at 0.67%. This indicates that NJNK's price experiences larger fluctuations and is considered to be riskier than JPHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NJNK	JPHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.90%	0.67%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	3.13%	2.33%	+0.80%
Volatility (1Y) Calculated over the trailing 1-year period	4.03%	3.00%	+1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.72%	2.97%	+1.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.72%	2.97%	+1.75%

NJNK vs. JPHY - Expense Ratio Comparison

NJNK has a 0.46% expense ratio, which is higher than JPHY's 0.24% expense ratio.

Dividends

NJNK vs. JPHY - Dividend Comparison

NJNK's dividend yield for the trailing twelve months is around 6.41%, less than JPHY's 6.48% yield.

Position	TTM	2025	2024
JPHY JPMorgan High Yield Research Enhanced ETF	6.48%	3.32%	0.00%
NJNK Columbia U.S. High Yield ETF	6.41%	6.34%	2.05%

Frequently Asked Questions

Can I hold both NJNK and JPHY in my portfolio?

NJNK and JPHY have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NJNK or JPHY?

NJNK has higher volatility (0.90%) compared to JPHY (0.67%). In terms of maximum drawdown, NJNK dropped -4.48% vs JPHY's -1.65%.

Which ETF is better, NJNK or JPHY?

On 1-year performance, JPHY leads with 5.98% vs 5.75% for NJNK. On fees, JPHY is cheaper at 0.24% per year. On volatility, JPHY has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NJNK or JPHY?

Over the 1-year period, JPHY has performed better with a 5.98% return vs 5.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NJNK or JPHY?

JPHY is cheaper with a 0.24% expense ratio, compared with 0.46% for NJNK.

Which ETF pays a higher dividend yield, NJNK or JPHY?

JPHY has the higher dividend yield at 6.48%, compared with 6.41% for NJNK.

What is the main difference between NJNK and JPHY?

They also come from different issuers: Columbia and JPMorgan. Their fees differ too: 0.46% for NJNK and 0.24% for JPHY.

Which has better risk-adjusted returns?

JPHY currently has the higher Sharpe Ratio (2.00 vs 1.44), 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.