SJB vs. HYLB
SJB (ProShares Short High Yield) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both exchange-traded funds - SJB is a Inverse Bonds fund tracking the iBoxx $ Liquid High Yield Index (-100%), while HYLB is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market Index. Both are passively managed. Over the past 5 years, SJB returned -0.58%/yr vs 4.06%/yr for HYLB. At a correlation of -0.94, they often move in opposite directions. SJB charges 0.95%/yr vs 0.15%/yr for HYLB.
Performance
SJB vs. HYLB - 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 HYLB's 1.65% 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%
HYLB
- 1D
- 0.11%
- 1M
- 0.35%
- YTD
- 1.65%
- 6M
- 2.09%
- 1Y
- 6.78%
- 3Y*
- 8.79%
- 5Y*
- 4.06%
- 10Y*
- —
SJB vs. HYLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SJB ProShares Short High Yield | 0.48% | -1.87% | -0.84% | -5.63% | 9.57% | -6.69% | -9.23% | -11.42% | 2.47% | -6.17% |
HYLB Xtrackers USD High Yield Corporate Bond ETF | 1.65% | 8.74% | 8.14% | 12.03% | -10.80% | 3.94% | 5.04% | 14.06% | -1.80% | 6.00% |
Correlation
The correlation between SJB and HYLB is -0.93, 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 | -0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.97 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2016 | -0.94 |
The correlation between SJB and HYLB has been stable across timeframes, ranging from -0.97 to -0.93 - a consistent structural relationship.
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Return for Risk
SJB vs. HYLB — Risk / Return Rank
SJB
HYLB
SJB vs. HYLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short High Yield (SJB) and Xtrackers USD High Yield Corporate Bond ETF (HYLB). 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 | HYLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.96 | ||
| Sortino ratioReturn per unit of downside risk | -2.93 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.36 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 3.00 | -3.16 |
| Martin ratioReturn relative to average drawdown | -0.31 | 12.90 | -13.22 |
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 | HYLB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.12 | 1.84 | -1.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | 0.55 | -0.62 |
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 | 0.58 | -1.19 |
Drawdowns
SJB vs. HYLB - Drawdown Comparison
The maximum SJB drawdown since its inception was -58.06%, which is greater than HYLB's maximum drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for SJB and HYLB.
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Drawdown Indicators
| SJB | HYLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.06% | -22.91% | -35.15% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -2.27% | -0.47% |
Max Drawdown (3Y)Largest decline over 3 years | -10.54% | -4.51% | -6.03% |
Max Drawdown (5Y)Largest decline over 5 years | -13.30% | -15.54% | +2.24% |
Max Drawdown (10Y)Largest decline over 10 years | -34.57% | — | — |
Current DrawdownCurrent decline from peak | -57.51% | -0.09% | -57.42% |
Average DrawdownAverage peak-to-trough decline | -42.48% | -2.43% | -40.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 0.53% | +0.92% |
Volatility
SJB vs. HYLB - Volatility Comparison
ProShares Short High Yield (SJB) and Xtrackers USD High Yield Corporate Bond ETF (HYLB) have volatilities of 1.22% and 1.19%, 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.
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Volatility by Period
| SJB | HYLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.19% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.95% | 2.92% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 3.70% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.51% | 7.47% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.52% | 8.18% | +0.34% |
SJB vs. HYLB - Expense Ratio Comparison
SJB has a 0.95% expense ratio, which is higher than HYLB's 0.15% expense ratio.
Dividends
SJB vs. HYLB - Dividend Comparison
SJB's dividend yield for the trailing twelve months is around 3.44%, less than HYLB's 6.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HYLB Xtrackers USD High Yield Corporate Bond ETF | 6.48% | 6.29% | 6.31% | 5.84% | 5.53% | 4.45% | 5.22% | 5.71% | 5.95% | 5.85% | 0.27% |
SJB ProShares Short High Yield | 3.44% | 3.86% | 5.86% | 4.10% | 0.46% | 0.00% | 0.07% | 1.27% | 0.71% | 0.00% | 0.00% |
Frequently Asked Questions
SJB and HYLB have a correlation of -0.93, 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 HYLB (1.19%). In terms of maximum drawdown, SJB dropped -58.06% vs HYLB's -22.91%.
On 5-year performance, HYLB leads with 4.06% vs -0.58% for SJB. On fees, HYLB is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYLB has performed better with a 4.06% return vs -0.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYLB is cheaper with a 0.15% expense ratio, compared with 0.95% for SJB.
HYLB has the higher dividend yield at 6.48%, compared with 3.44% for SJB.
SJB is categorized as Inverse Bonds, while HYLB is High Yield Bonds. SJB tracks iBoxx $ Liquid High Yield Index (-100%), while HYLB tracks Solactive USD High Yield Corporates Total Market Index. They also come from different issuers: ProShares and DWS. Their fees differ too: 0.95% for SJB and 0.15% for HYLB.
HYLB currently has the higher Sharpe Ratio (1.84 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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