SHYG vs. BSJR

Last updated Jun 4, 2026

SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) and BSJR (Invesco BulletShares 2027 High Yield Corporate Bond ETF) are both High Yield Bonds funds - SHYG tracks the Markit iBoxx USD Liquid High Yield 0-5 Index while BSJR tracks the NASDAQ BulletShares USD High Yield Corporate Bond 2027 Index. Both are passively managed. Over the past 5 years, SHYG returned 4.83%/yr vs 3.37%/yr for BSJR. Their correlation of 0.90 suggests significant overlap in exposure. SHYG charges 0.30%/yr vs 0.42%/yr for BSJR.

Performance

SHYG vs. BSJR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and Invesco BulletShares 2027 High Yield Corporate Bond ETF (BSJR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHYG achieves a 1.44% return, which is significantly higher than BSJR's 1.11% return.

SHYG

• 1D: -0.24%
• 1M: 0.35%
• YTD: 1.44%
• 6M: 1.95%
• 1Y: 6.50%
• 3Y*: 8.12%
• 5Y*: 4.83%
• 10Y*: 5.18%

BSJR

• 1D: -0.09%
• 1M: 0.05%
• YTD: 1.11%
• 6M: 1.70%
• 1Y: 4.78%
• 3Y*: 7.78%
• 5Y*: 3.37%
• 10Y*: —

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

SHYG vs. BSJR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SHYG iShares 0-5 Year High Yield Corporate Bond ETF	1.44%	7.94%	8.17%	10.38%	-4.71%	4.60%	3.15%	1.70%
BSJR Invesco BulletShares 2027 High Yield Corporate Bond ETF	1.11%	7.41%	7.15%	11.91%	-11.35%	3.60%	5.69%	3.00%

Correlation

The correlation between SHYG and BSJR is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 13, 2019	0.90

The correlation between SHYG and BSJR shifts across timeframes, from 0.82 (1 year) to 0.93 (5 years), reflecting how their relationship changes across market environments.

SHYG vs. BSJR - Sectors Allocation Comparison

Sectors	SHYG	BSJR
Utilities	99.3%	0.8%
Real Estate	0.7%	4.2%
Basic Materials	-	1.6%
Communication Services	-	6.0%
Consumer Cyclical	-	11.2%
Consumer Defensive	-	1.8%
Energy	-	4.3%
Financial Services	-	13.8%
Healthcare	-	2.7%
Industrials	-	10.3%
Technology	-	1.6%

Return for Risk

SHYG vs. BSJR — Risk / Return Rank

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

SHYG

SHYG Risk / Return Rank: 70
SHYG Sharpe Ratio Rank: 60
SHYG Sortino Ratio Rank: 68
SHYG Omega Ratio Rank: 67
SHYG Calmar Ratio Rank: 74
SHYG Martin Ratio Rank: 80

BSJR

BSJR Risk / Return Rank: 78
BSJR Sharpe Ratio Rank: 68
BSJR Sortino Ratio Rank: 78
BSJR Omega Ratio Rank: 75
BSJR Calmar Ratio Rank: 80
BSJR Martin Ratio Rank: 87

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.

SHYG vs. BSJR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and Invesco BulletShares 2027 High Yield Corporate Bond ETF (BSJR). 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.

	SHYG	BSJR	Difference
Sharpe ratio: Return per unit of total volatility	2.07	2.27	-0.20
Sortino ratio: Return per unit of downside risk	3.17	3.51	-0.34
Omega ratio: Gain probability vs. loss probability	1.41	1.45	-0.04
Calmar ratio: Return relative to maximum drawdown	3.73	4.13	-0.40
Martin ratio: Return relative to average drawdown	16.23	19.02	-2.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHYG vs. BSJR - Sharpe Ratio Comparison

The current SHYG Sharpe Ratio is 2.07, which is comparable to the BSJR Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of SHYG and BSJR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SHYG	BSJR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	2.27	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.50	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.43	+0.30

Drawdowns

SHYG vs. BSJR - Drawdown Comparison

The maximum SHYG drawdown since its inception was -19.26%, smaller than the maximum BSJR drawdown of -22.58%. Use the drawdown chart below to compare losses from any high point for SHYG and BSJR.

Drawdown Indicators

	SHYG	BSJR	Difference
Max Drawdown Largest peak-to-trough decline	-19.26%	-22.58%	+3.32%
Max Drawdown (1Y) Largest decline over 1 year	-1.75%	-1.16%	-0.59%
Max Drawdown (3Y) Largest decline over 3 years	-4.53%	-3.15%	-1.38%
Max Drawdown (5Y) Largest decline over 5 years	-9.39%	-16.37%	+6.98%
Max Drawdown (10Y) Largest decline over 10 years	-19.26%	—	—
Current Drawdown Current decline from peak	-0.24%	-0.27%	+0.03%
Average Drawdown Average peak-to-trough decline	-1.44%	-3.25%	+1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.25%	+0.15%

Volatility

SHYG vs. BSJR - Volatility Comparison

iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) has a higher volatility of 0.94% compared to Invesco BulletShares 2027 High Yield Corporate Bond ETF (BSJR) at 0.57%. This indicates that SHYG's price experiences larger fluctuations and is considered to be riskier than BSJR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHYG	BSJR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.94%	0.57%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	2.51%	1.45%	+1.06%
Volatility (1Y) Calculated over the trailing 1-year period	3.16%	2.12%	+1.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.73%	6.73%	-1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.42%	9.37%	-2.95%

SHYG vs. BSJR - Expense Ratio Comparison

SHYG has a 0.30% expense ratio, which is lower than BSJR's 0.42% expense ratio.

Dividends

SHYG vs. BSJR - Dividend Comparison

SHYG's dividend yield for the trailing twelve months is around 7.02%, more than BSJR's 5.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSJR Invesco BulletShares 2027 High Yield Corporate Bond ETF	5.75%	6.19%	6.75%	6.48%	5.37%	4.49%	4.53%	1.20%	0.00%	0.00%	0.00%	0.00%
SHYG iShares 0-5 Year High Yield Corporate Bond ETF	7.02%	7.03%	6.93%	6.54%	5.57%	4.83%	5.07%	5.33%	5.90%	5.49%	5.53%	5.17%

Frequently Asked Questions

Can I hold both SHYG and BSJR in my portfolio?

SHYG and BSJR have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHYG or BSJR?

SHYG has higher volatility (0.94%) compared to BSJR (0.57%). In terms of maximum drawdown, SHYG dropped -19.26% vs BSJR's -22.58%.

Which ETF is better, SHYG or BSJR?

On 5-year performance, SHYG leads with 4.83% vs 3.37% for BSJR. On fees, SHYG is cheaper at 0.30% per year. On volatility, BSJR has been the lower-risk option at 0.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHYG or BSJR?

Over the 5-year period, SHYG has performed better with a 4.83% return vs 3.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHYG or BSJR?

SHYG is cheaper with a 0.30% expense ratio, compared with 0.42% for BSJR.

Which ETF pays a higher dividend yield, SHYG or BSJR?

SHYG has the higher dividend yield at 7.02%, compared with 5.75% for BSJR.

What is the main difference between SHYG and BSJR?

SHYG tracks Markit iBoxx USD Liquid High Yield 0-5 Index, while BSJR tracks NASDAQ BulletShares USD High Yield Corporate Bond 2027 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.30% for SHYG and 0.42% for BSJR.

Which has better risk-adjusted returns?

BSJR currently has the higher Sharpe Ratio (2.27 vs 2.07), 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.