PFFD vs. JNK
PFFD (Global X U.S. Preferred ETF) and JNK (State Street SPDR Bloomberg High Yield Bond ETF) are both exchange-traded funds - PFFD is a Preferred Stock/Convertible Bonds fund tracking the ICE BofA Diversified Core U.S. Preferred Securities Index, while JNK is a High Yield Bonds fund tracking the Bloomberg High Yield Very Liquid Index. Both are passively managed. Over the past 5 years, PFFD returned -0.48%/yr vs 3.60%/yr for JNK. A 0.61 correlation means they provide meaningful diversification when combined. PFFD charges 0.23%/yr vs 0.40%/yr for JNK.
Performance
PFFD vs. JNK - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with PFFD having a 1.75% return and JNK slightly higher at 1.78%.
PFFD
- 1D
- 0.00%
- 1M
- 0.10%
- YTD
- 1.75%
- 6M
- 1.42%
- 1Y
- 6.96%
- 3Y*
- 5.74%
- 5Y*
- -0.48%
- 10Y*
- —
JNK
- 1D
- -0.05%
- 1M
- 0.54%
- YTD
- 1.78%
- 6M
- 2.01%
- 1Y
- 6.59%
- 3Y*
- 8.91%
- 5Y*
- 3.60%
- 10Y*
- 5.04%
PFFD vs. JNK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFFD Global X U.S. Preferred ETF | 1.75% | 3.22% | 7.07% | 6.85% | -20.20% | 5.07% | 8.90% | 17.43% | -3.94% | 0.69% |
JNK State Street SPDR Bloomberg High Yield Bond ETF | 1.78% | 8.76% | 7.71% | 12.42% | -12.19% | 4.00% | 4.95% | 14.88% | -3.28% | 0.75% |
Correlation
The correlation between PFFD and JNK is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2017 | 0.61 |
The correlation between PFFD and JNK has been stable across timeframes, ranging from 0.61 to 0.70 - a consistent structural relationship.
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Return for Risk
PFFD vs. JNK — Risk / Return Rank
PFFD
JNK
PFFD vs. JNK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X U.S. Preferred ETF (PFFD) 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.
| PFFD | JNK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.32 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 2.64 | -1.47 |
| Martin ratioReturn relative to average drawdown | 3.42 | 11.58 | -8.16 |
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Drawdowns
PFFD vs. JNK - Drawdown Comparison
The maximum PFFD drawdown since its inception was -30.93%, smaller than the maximum JNK drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for PFFD and JNK.
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Drawdown Indicators
| PFFD | JNK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.93% | -38.48% | +7.55% |
Max Drawdown (1Y)Largest decline over 1 year | -5.97% | -2.51% | -3.46% |
Max Drawdown (3Y)Largest decline over 3 years | -10.84% | -5.02% | -5.82% |
Max Drawdown (5Y)Largest decline over 5 years | -24.45% | -16.67% | -7.78% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.89% | — |
Current DrawdownCurrent decline from peak | -4.19% | -0.21% | -3.98% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -3.69% | -2.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 0.57% | +1.47% |
Volatility
PFFD vs. JNK - Volatility Comparison
Global X U.S. Preferred ETF (PFFD) has a higher volatility of 1.99% compared to State Street SPDR Bloomberg High Yield Bond ETF (JNK) at 1.07%. This indicates that PFFD'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.
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Volatility by Period
| PFFD | JNK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 1.07% | +0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 5.44% | 3.05% | +2.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.35% | 3.88% | +3.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.01% | 7.56% | +3.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.73% | 8.29% | +4.44% |
PFFD vs. JNK - Expense Ratio Comparison
PFFD has a 0.23% expense ratio, which is lower than JNK's 0.40% expense ratio.
Dividends
PFFD vs. JNK - Dividend Comparison
PFFD's dividend yield for the trailing twelve months is around 6.40%, less than JNK's 6.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JNK State Street SPDR Bloomberg High Yield Bond ETF | 6.60% | 6.54% | 6.63% | 6.38% | 6.06% | 4.27% | 5.11% | 5.44% | 5.90% | 5.60% | 6.06% | 6.59% |
PFFD Global X U.S. Preferred ETF | 6.40% | 6.37% | 6.42% | 6.49% | 6.63% | 5.09% | 5.17% | 5.48% | 6.21% | 1.94% | 0.00% | 0.00% |
Frequently Asked Questions
PFFD 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.
PFFD has higher volatility (1.99%) compared to JNK (1.07%). In terms of maximum drawdown, PFFD dropped -30.93% vs JNK's -38.48%.
On 5-year performance, JNK leads with 3.60% vs -0.48% for PFFD. On fees, PFFD is cheaper at 0.23% per year. On volatility, JNK has been the lower-risk option at 1.07%. 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 3.60% return vs -0.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFFD is cheaper with a 0.23% expense ratio, compared with 0.40% for JNK.
JNK has the higher dividend yield at 6.60%, compared with 6.40% for PFFD.
PFFD is categorized as Preferred Stock/Convertible Bonds, while JNK is High Yield Bonds. PFFD tracks ICE BofA Diversified Core U.S. Preferred Securities Index, while JNK tracks Bloomberg High Yield Very Liquid Index. They also come from different issuers: Global X and State Street. Their fees differ too: 0.23% for PFFD and 0.40% for JNK.
JNK currently has the higher Sharpe Ratio (1.71 vs 0.95), 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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