SJB vs. BINC
SJB (ProShares Short High Yield) and BINC (iShares Flexible Income Active ETF) are both exchange-traded funds - SJB is a Inverse Bonds fund tracking the iBoxx $ Liquid High Yield Index (-100%), while BINC is a Multisector Bonds fund actively managed by iShares. SJB is passively managed, while BINC is actively managed. Over the past 3 years, SJB returned -2.01%/yr vs 7.00%/yr for BINC. At a correlation of -0.72, they often move in opposite directions. SJB charges 0.95%/yr vs 0.40%/yr for BINC.
Performance
SJB vs. BINC - Performance Comparison
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Returns By Period
In the year-to-date period, SJB achieves a 0.48% return, which is significantly lower than BINC's 0.92% return.
SJB
- 1D
- -0.20%
- 1M
- -0.13%
- YTD
- 0.48%
- 6M
- 0.59%
- 1Y
- -0.45%
- 3Y*
- -2.01%
- 5Y*
- -0.58%
- 10Y*
- -3.84%
BINC
- 1D
- 0.02%
- 1M
- 0.50%
- YTD
- 0.92%
- 6M
- 1.32%
- 1Y
- 5.62%
- 3Y*
- 7.00%
- 5Y*
- —
- 10Y*
- —
SJB vs. BINC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SJB ProShares Short High Yield | 0.48% | -1.87% | -0.84% | -4.63% |
BINC iShares Flexible Income Active ETF | 0.92% | 7.57% | 5.76% | 7.08% |
Correlation
The correlation between SJB and BINC is -0.70, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.72 |
Correlation (All Time) Calculated using the full available price history since May 24, 2023 | -0.72 |
The correlation between SJB and BINC has been stable across timeframes, ranging from -0.72 to -0.70 - a consistent structural relationship.
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Return for Risk
SJB vs. BINC — Risk / Return Rank
SJB
BINC
SJB vs. BINC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short High Yield (SJB) and iShares Flexible Income Active ETF (BINC). 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.
| SJB | BINC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.60 | ||
| Sortino ratioReturn per unit of downside risk | -3.74 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.50 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 2.10 | -2.26 |
| Martin ratioReturn relative to average drawdown | -0.31 | 8.26 | -8.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SJB | BINC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.12 | 2.48 | -2.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.60 | 2.36 | -2.97 |
Drawdowns
SJB vs. BINC - Drawdown Comparison
The maximum SJB drawdown since its inception was -58.06%, which is greater than BINC's maximum drawdown of -2.69%. Use the drawdown chart below to compare losses from any high point for SJB and BINC.
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Drawdown Indicators
| SJB | BINC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.06% | -2.69% | -55.37% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -2.69% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -10.54% | -2.69% | -7.85% |
Max Drawdown (5Y)Largest decline over 5 years | -13.30% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.57% | — | — |
Current DrawdownCurrent decline from peak | -57.51% | -0.47% | -57.04% |
Average DrawdownAverage peak-to-trough decline | -42.48% | -0.36% | -42.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 0.68% | +0.77% |
Volatility
SJB vs. BINC - Volatility Comparison
ProShares Short High Yield (SJB) has a higher volatility of 1.22% compared to iShares Flexible Income Active ETF (BINC) at 0.75%. This indicates that SJB's price experiences larger fluctuations and is considered to be riskier than BINC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SJB | BINC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 0.75% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 2.95% | 1.84% | +1.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 2.28% | +1.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.51% | 3.00% | +4.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.52% | 3.00% | +5.52% |
SJB vs. BINC - Expense Ratio Comparison
SJB has a 0.95% expense ratio, which is higher than BINC's 0.40% expense ratio.
Dividends
SJB vs. BINC - Dividend Comparison
SJB's dividend yield for the trailing twelve months is around 3.44%, less than BINC's 5.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BINC iShares Flexible Income Active ETF | 5.86% | 5.86% | 6.14% | 3.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SJB ProShares Short High Yield | 3.44% | 3.86% | 5.86% | 4.10% | 0.46% | 0.00% | 0.07% | 1.27% | 0.71% |
Frequently Asked Questions
SJB and BINC 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.
SJB has higher volatility (1.22%) compared to BINC (0.75%). In terms of maximum drawdown, SJB dropped -58.06% vs BINC's -2.69%.
On 3-year performance, BINC leads with 7.00% vs -2.01% for SJB. On fees, BINC is cheaper at 0.40% per year. On volatility, BINC has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BINC has performed better with a 7.00% return vs -2.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BINC is cheaper with a 0.40% expense ratio, compared with 0.95% for SJB.
BINC has the higher dividend yield at 5.86%, compared with 3.44% for SJB.
SJB is categorized as Inverse Bonds, while BINC is Multisector Bonds. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for SJB and 0.40% for BINC.
BINC currently has the higher Sharpe Ratio (2.48 vs -0.12), 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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