PIAMX vs. SJNK
PIAMX (PIA High Yield (MACS) Fund) and SJNK (SPDR Bloomberg Short Term High Yield Bond ETF) are both High Yield Bonds funds. Over the past 5 years, PIAMX returned 3.94%/yr vs 4.76%/yr for SJNK. Their 0.49 correlation means their historical movements had little consistent relationship. PIAMX charges 0.20%/yr vs 0.40%/yr for SJNK.
Performance
PIAMX vs. SJNK - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PIAMX achieves a 1.27% return, which is significantly lower than SJNK's 1.60% return.
PIAMX
- 1D
- 0.13%
- 1M
- 0.23%
- 6M
- 0.50%
- YTD
- 1.27%
- 1Y
- 2.29%
- 3Y*
- 6.65%
- 5Y*
- 3.94%
- 10Y*
- —
- ALL TIME*
- 5.12%
SJNK
- 1D
- 0.00%
- 1M
- -0.32%
- 6M
- 1.16%
- YTD
- 1.60%
- 1Y
- 4.72%
- 3Y*
- 7.70%
- 5Y*
- 4.76%
- 10Y*
- 5.31%
- ALL TIME*
- 4.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $72.70M | $61.59M | $61.63M |
PIAMX vs. SJNK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PIAMX PIA High Yield (MACS) Fund | 1.27% | 2.34% | 11.23% | 16.38% | -10.93% | 7.82% | 9.05% | 11.77% | -2.63% |
SJNK SPDR Bloomberg Short Term High Yield Bond ETF | 1.60% | 7.68% | 8.24% | 11.63% | -5.50% | 5.06% | 5.82% | 9.49% | -1.20% |
Correlation
The correlation between PIAMX and SJNK is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.55 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2018 | 0.49 |
The correlation between PIAMX and SJNK shifts across timeframes, from 0.49 (all time) to 0.62 (1 year), reflecting how their relationship changes across market environments.
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
PIAMX vs. SJNK — Risk / Return Rank
PIAMX
SJNK
PIAMX vs. SJNK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIA High Yield (MACS) Fund (PIAMX) and SPDR Bloomberg 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.
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.
| PIAMX | SJNK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.28 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | 2.75 | -2.30 |
| Martin ratioReturn relative to average drawdown | 1.34 | 11.44 | -10.10 |
Loading charts...
Drawdowns
PIAMX vs. SJNK - Drawdown Comparison
The maximum PIAMX drawdown since its inception was -18.15%, smaller than the maximum SJNK drawdown of -19.74%. Use the drawdown chart below to compare losses from any high point for PIAMX and SJNK.
Loading charts...
Drawdown Indicators
| PIAMX | SJNK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.15% | -19.74% | +1.59% |
Max Drawdown (1Y)Largest decline over 1 year | -3.75% | -1.73% | -2.02% |
Max Drawdown (3Y)Largest decline over 3 years | -6.17% | -4.77% | -1.40% |
Max Drawdown (5Y)Largest decline over 5 years | -13.92% | -10.18% | -3.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.74% | — |
Current DrawdownCurrent decline from peak | -0.27% | -0.48% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -2.30% | -1.62% | -0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 0.41% | +0.85% |
Volatility
PIAMX vs. SJNK - Volatility Comparison
PIA High Yield (MACS) Fund (PIAMX) and SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) have volatilities of 0.64% and 0.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PIAMX | SJNK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 0.66% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 2.57% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.18% | 3.22% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.05% | 5.83% | -1.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.21% | 6.44% | -2.23% |
PIAMX vs. SJNK - Expense Ratio Comparison
PIAMX has a 0.20% expense ratio, which is lower than SJNK's 0.40% expense ratio.
Dividends
PIAMX vs. SJNK - Dividend Comparison
PIAMX's dividend yield for the trailing twelve months is around 7.08%, which matches SJNK's 7.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIAMX PIA High Yield (MACS) Fund | 7.08% | 9.12% | 8.49% | 8.12% | 7.99% | 8.64% | 6.63% | 6.96% | 7.14% | 0.00% | 0.00% | 0.00% |
SJNK SPDR Bloomberg Short Term High Yield Bond ETF | 6.43% | 7.12% | 7.47% | 7.20% | 5.85% | 4.21% | 5.34% | 5.64% | 5.69% | 5.64% | 5.65% | 5.81% |
Frequently Asked Questions
PIAMX and SJNK have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SJNK has higher volatility (0.66%) compared to PIAMX (0.64%). In terms of maximum drawdown, PIAMX dropped -18.15% vs SJNK's -19.74%.
SJNK currently has the higher Sharpe Ratio (1.48 vs 0.53), 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 PIAMX and SJNK
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