SJB vs. SJNK

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares Short High Yield (SJB) and SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK).

SJB and SJNK are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SJB is a passively managed fund by ProShares that tracks the performance of the iBoxx $ Liquid High Yield Index (-100%). It was launched on Mar 21, 2011. 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 SJB 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.

Performance

SJB vs. SJNK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short High Yield (SJB) and SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK). The values are adjusted to include any dividend payments, if applicable.

SJB vs. SJNK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SJB ProShares Short High Yield	1.66%	-1.87%	-0.84%	-5.63%	9.57%	-6.69%	-9.23%	-11.42%	2.47%	-6.17%
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF	-0.02%	7.68%	8.24%	11.63%	-5.50%	5.06%	5.82%	9.49%	-0.27%	5.27%

Returns By Period

In the year-to-date period, SJB achieves a 1.66% return, which is significantly higher than SJNK's -0.02% return. Over the past 10 years, SJB has underperformed SJNK with an annualized return of -4.14%, while SJNK has yielded a comparatively higher 5.84% annualized return.

SJB

• 1D: -0.10%
• 1M: 1.13%
• YTD: 1.66%
• 6M: 2.17%
• 1Y: -0.41%
• 3Y*: -1.32%
• 5Y*: -0.66%
• 10Y*: -4.14%

SJNK

• 1D: 0.21%
• 1M: -0.31%
• YTD: -0.02%
• 6M: 0.97%
• 1Y: 6.59%
• 3Y*: 7.86%
• 5Y*: 4.76%
• 10Y*: 5.84%

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

SJB vs. SJNK - Expense Ratio Comparison

SJB has a 0.95% expense ratio, which is higher than SJNK's 0.40% expense ratio.

SJB

ProShares Short High Yield

SJNK

SPDR Bloomberg Barclays Short Term High Yield Bond ETF

Return for Risk

SJB vs. SJNK — Risk / Return Rank

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

SJB

SJB Risk / Return Rank: 10
SJB Sharpe Ratio Rank: 10
SJB Sortino Ratio Rank: 9
SJB Omega Ratio Rank: 8
SJB Calmar Ratio Rank: 10
SJB Martin Ratio Rank: 11

SJNK

SJNK Risk / Return Rank: 74
SJNK Sharpe Ratio Rank: 70
SJNK Sortino Ratio Rank: 72
SJNK Omega Ratio Rank: 80
SJNK Calmar Ratio Rank: 67
SJNK Martin Ratio Rank: 84

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.

SJB vs. SJNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short High Yield (SJB) 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.

	SJB	SJNK	Difference
Sharpe ratio Return per unit of total volatility	-0.07	1.27	-1.34
Sortino ratio Return per unit of downside risk	-0.06	1.88	-1.94
Omega ratio Gain probability vs. loss probability	0.99	1.31	-0.32
Calmar ratio Return relative to maximum drawdown	-0.10	1.77	-1.87
Martin ratio Return relative to average drawdown	-0.13	10.05	-10.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SJB vs. SJNK - Sharpe Ratio Comparison

The current SJB Sharpe Ratio is -0.07, which is lower than the SJNK Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of SJB and SJNK, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SJB	SJNK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.07	1.27	-1.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.09	0.82	-0.91
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.49	0.90	-1.39
Sharpe Ratio (All Time) Calculated using the full available price history	-0.60	0.78	-1.38

Correlation

The correlation between SJB and SJNK is -0.86. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SJB vs. SJNK - Dividend Comparison

SJB's dividend yield for the trailing twelve months is around 3.40%, less than SJNK's 7.13% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SJB ProShares Short High Yield	3.40%	3.86%	5.86%	4.10%	0.46%	0.00%	0.07%	1.27%	0.71%	0.00%	0.00%	0.00%
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF	7.13%	7.12%	7.47%	7.20%	5.85%	4.21%	5.34%	5.64%	5.69%	5.64%	5.65%	5.81%

Drawdowns

SJB vs. SJNK - Drawdown Comparison

The maximum SJB drawdown since its inception was -58.06%, which is greater than SJNK's maximum drawdown of -19.74%. Use the drawdown chart below to compare losses from any high point for SJB and SJNK.

Drawdown Indicators

	SJB	SJNK	Difference
Max Drawdown Largest peak-to-trough decline	-58.06%	-19.74%	-38.32%
Max Drawdown (1Y) Largest decline over 1 year	-6.35%	-3.83%	-2.52%
Max Drawdown (5Y) Largest decline over 5 years	-13.30%	-10.18%	-3.12%
Max Drawdown (10Y) Largest decline over 10 years	-36.52%	-19.74%	-16.78%
Current Drawdown Current decline from peak	-57.01%	-0.61%	-56.40%
Average Drawdown Average peak-to-trough decline	-42.30%	-1.65%	-40.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.16%	0.67%	+4.49%

Volatility

SJB vs. SJNK - Volatility Comparison

ProShares Short High Yield (SJB) has a higher volatility of 2.25% compared to SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) at 1.83%. This indicates that SJB's price experiences larger fluctuations and is considered to be riskier than SJNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SJB	SJNK	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.25%	1.83%	+0.42%
Volatility (6M) Calculated over the trailing 6-month period	2.90%	2.46%	+0.44%
Volatility (1Y) Calculated over the trailing 1-year period	5.69%	5.22%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.50%	5.81%	+1.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.54%	6.49%	+2.05%