SHYG vs. SJNK
Compare and contrast key facts about iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK).
SHYG and SJNK are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHYG is a passively managed fund by iShares that tracks the performance of the Markit iBoxx USD Liquid High Yield 0-5 Index. It was launched on Oct 15, 2013. SJNK is a passively managed fund by State Street that tracks the performance of the Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y). It was launched on Mar 15, 2012. Both SHYG and SJNK are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SHYG or SJNK.
Key characteristics
| SHYG | SJNK | |
|---|---|---|
| YTD Return | 2.23% | 1.95% |
| 1Y Return | 9.92% | 10.24% |
| 3Y Return (Ann) | 3.17% | 3.19% |
| 5Y Return (Ann) | 3.66% | 4.20% |
| 10Y Return (Ann) | 3.67% | 3.62% |
| Sharpe Ratio | 2.13 | 2.19 |
| Daily Std Dev | 4.54% | 4.60% |
| Max Drawdown | -19.26% | -19.74% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between SHYG and SJNK is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
SHYG vs. SJNK - Performance Comparison
In the year-to-date period, SHYG achieves a 2.23% return, which is significantly higher than SJNK's 1.95% return. Both investments have delivered pretty close results over the past 10 years, with SHYG having a 3.67% annualized return and SJNK not far behind at 3.62%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SHYG vs. SJNK - Expense Ratio Comparison
SHYG has a 0.30% expense ratio, which is lower than SJNK's 0.40% expense ratio.
Risk-Adjusted Performance
SHYG vs. SJNK - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and SPDR Bloomberg Barclays 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.
Dividends
SHYG vs. SJNK - Dividend Comparison
SHYG's dividend yield for the trailing twelve months is around 6.55%, less than SJNK's 7.44% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 6.55% | 6.54% | 5.57% | 4.83% | 5.07% | 5.33% | 5.90% | 5.49% | 5.53% | 5.17% | 4.33% | 0.85% |
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF | 7.44% | 7.20% | 5.85% | 4.21% | 5.34% | 5.64% | 5.69% | 5.64% | 5.65% | 5.81% | 5.46% | 5.34% |
Drawdowns
SHYG vs. SJNK - Drawdown Comparison
The maximum SHYG drawdown since its inception was -19.26%, roughly equal to the maximum SJNK drawdown of -19.74%. Use the drawdown chart below to compare losses from any high point for SHYG and SJNK. For additional features, visit the drawdowns tool.
Volatility
SHYG vs. SJNK - Volatility Comparison
iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) have volatilities of 1.44% and 1.41%, 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.