SJNK vs. BBHY
SJNK (SPDR Bloomberg Short Term High Yield Bond ETF) and BBHY (JPMorgan BetaBuilders USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - SJNK tracks the Bloomberg U.S. High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index while BBHY tracks the ICE BofA US High Yield Index. Both are passively managed. Over the past 5 years, SJNK returned 4.82%/yr vs 4.01%/yr for BBHY. Their correlation of 0.85 suggests significant overlap in exposure. SJNK charges 0.40%/yr vs 0.15%/yr for BBHY.
Performance
SJNK vs. BBHY - Performance Comparison
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Returns By Period
In the year-to-date period, SJNK achieves a 1.88% return, which is significantly lower than BBHY's 2.18% return.
SJNK
- 1D
- -0.08%
- 1M
- 0.35%
- 6M
- 1.36%
- YTD
- 1.88%
- 1Y
- 5.32%
- 3Y*
- 7.74%
- 5Y*
- 4.82%
- 10Y*
- 5.31%
BBHY
- 1D
- -0.09%
- 1M
- 0.47%
- 6M
- 1.59%
- YTD
- 2.18%
- 1Y
- 6.18%
- 3Y*
- 8.23%
- 5Y*
- 4.01%
- 10Y*
- —
SJNK vs. BBHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SJNK SPDR Bloomberg Short Term High Yield Bond ETF | 1.88% | 7.68% | 8.24% | 11.63% | -5.50% | 5.06% | 5.82% | 9.49% | -0.27% | 5.27% |
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 2.18% | 8.51% | 7.81% | 11.98% | -10.37% | 3.88% | 5.36% | 14.35% | -2.50% | 6.57% |
Correlation
The correlation between SJNK and BBHY is 0.95, 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016 | 0.85 |
The correlation between SJNK and BBHY shifts across timeframes, from 0.85 (all time) to 0.96 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SJNK vs. BBHY — Risk / Return Rank
SJNK
BBHY
SJNK vs. BBHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SJNK | BBHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.34 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 2.61 | +0.47 |
| Martin ratioReturn relative to average drawdown | 13.34 | 11.74 | +1.60 |
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Drawdowns
SJNK vs. BBHY - Drawdown Comparison
The maximum SJNK drawdown since its inception was -19.74%, smaller than the maximum BBHY drawdown of -24.98%. Use the drawdown chart below to compare losses from any high point for SJNK and BBHY.
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Drawdown Indicators
| SJNK | BBHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.74% | -24.98% | +5.24% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -2.37% | +0.64% |
Max Drawdown (3Y)Largest decline over 3 years | -4.77% | -5.00% | +0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -10.18% | -15.32% | +5.14% |
Max Drawdown (10Y)Largest decline over 10 years | -19.74% | — | — |
Current DrawdownCurrent decline from peak | -0.20% | -0.20% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.62% | -2.34% | +0.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.53% | -0.13% |
Volatility
SJNK vs. BBHY - Volatility Comparison
The current volatility for SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) is 0.57%, while JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) has a volatility of 0.73%. This indicates that SJNK experiences smaller price fluctuations and is considered to be less risky than BBHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SJNK | BBHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 0.73% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 2.96% | -0.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.19% | 3.61% | -0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.84% | 7.27% | -1.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.44% | 7.49% | -1.05% |
SJNK vs. BBHY - Expense Ratio Comparison
SJNK has a 0.40% expense ratio, which is higher than BBHY's 0.15% expense ratio.
Dividends
SJNK vs. BBHY - Dividend Comparison
SJNK's dividend yield for the trailing twelve months is around 7.02%, which matches BBHY's 7.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 7.09% | 7.24% | 7.18% | 6.49% | 5.92% | 4.06% | 4.73% | 4.99% | 5.02% | 4.81% | 1.42% | 0.00% |
SJNK SPDR Bloomberg Short Term High Yield Bond ETF | 7.02% | 7.12% | 7.47% | 7.20% | 5.85% | 4.21% | 5.34% | 5.64% | 5.69% | 5.64% | 5.65% | 5.81% |
Frequently Asked Questions
With a correlation of 0.95, SJNK and BBHY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BBHY has higher volatility (0.73%) compared to SJNK (0.57%). In terms of maximum drawdown, SJNK dropped -19.74% vs BBHY's -24.98%.
On 5-year performance, SJNK leads with 4.82% vs 4.01% for BBHY. On fees, BBHY is cheaper at 0.15% per year. On volatility, SJNK has been the lower-risk option at 0.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SJNK has performed better with a 4.82% return vs 4.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBHY is cheaper with a 0.15% expense ratio, compared with 0.40% for SJNK.
BBHY has the higher dividend yield at 7.09%, compared with 7.02% for SJNK.
SJNK tracks Bloomberg U.S. High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index, while BBHY tracks ICE BofA US High Yield Index. They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.40% for SJNK and 0.15% for BBHY.
BBHY currently has the higher Sharpe Ratio (1.72 vs 1.67), 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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