SJNK vs. DBE
SJNK (SPDR Bloomberg Barclays Short Term High Yield Bond ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - SJNK is a High Yield Bonds fund tracking the Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y), while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, SJNK returned 5.49%/yr vs 11.58%/yr for DBE. At a 0.23 correlation, their price movements are largely independent. SJNK charges 0.40%/yr vs 0.78%/yr for DBE.
Performance
SJNK vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, SJNK achieves a 1.49% return, which is significantly lower than DBE's 79.04% return. Over the past 10 years, SJNK has underperformed DBE with an annualized return of 5.49%, while DBE has yielded a comparatively higher 11.58% annualized return.
SJNK
- 1D
- 0.08%
- 1M
- 0.29%
- YTD
- 1.49%
- 6M
- 1.91%
- 1Y
- 6.32%
- 3Y*
- 8.25%
- 5Y*
- 4.86%
- 10Y*
- 5.49%
DBE
- 1D
- -2.52%
- 1M
- -6.01%
- YTD
- 79.04%
- 6M
- 69.31%
- 1Y
- 81.31%
- 3Y*
- 22.41%
- 5Y*
- 19.05%
- 10Y*
- 11.58%
SJNK vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF | 1.49% | 7.68% | 8.24% | 11.63% | -5.50% | 5.06% | 5.82% | 9.49% | -0.27% | 5.27% |
DBE Invesco DB Energy Fund | 79.04% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between SJNK and DBE is -0.36, 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 | -0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2012 | 0.23 |
The correlation between SJNK and DBE shifts across timeframes, from -0.36 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SJNK vs. DBE — Risk / Return Rank
SJNK
DBE
SJNK vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) and Invesco DB Energy Fund (DBE). 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.
| SJNK | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.39 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.67 | 5.67 | -2.01 |
| Martin ratioReturn relative to average drawdown | 15.90 | 11.08 | +4.82 |
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
| SJNK | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.99 | 2.33 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.65 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | 0.41 | +0.44 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.80 | 0.09 | +0.71 |
Drawdowns
SJNK vs. DBE - Drawdown Comparison
The maximum SJNK drawdown since its inception was -19.74%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for SJNK and DBE.
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Drawdown Indicators
| SJNK | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.74% | -86.69% | +66.95% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -14.41% | +12.68% |
Max Drawdown (3Y)Largest decline over 3 years | -4.77% | -23.89% | +19.12% |
Max Drawdown (5Y)Largest decline over 5 years | -10.18% | -38.74% | +28.56% |
Max Drawdown (10Y)Largest decline over 10 years | -19.74% | -60.84% | +41.10% |
Current DrawdownCurrent decline from peak | -0.11% | -32.03% | +31.92% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -57.30% | +55.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 7.37% | -6.97% |
Volatility
SJNK vs. DBE - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) is 0.90%, while Invesco DB Energy Fund (DBE) has a volatility of 13.05%. This indicates that SJNK experiences smaller price fluctuations and is considered to be less risky than DBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SJNK | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 13.05% | -12.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.45% | 30.97% | -28.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.20% | 35.07% | -31.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.83% | 29.41% | -23.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.49% | 28.34% | -21.85% |
SJNK vs. DBE - Expense Ratio Comparison
SJNK has a 0.40% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
SJNK vs. DBE - Dividend Comparison
SJNK's dividend yield for the trailing twelve months is around 7.01%, more than DBE's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.16% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF | 7.01% | 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
SJNK and DBE have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (13.05%) compared to SJNK (0.90%). In terms of maximum drawdown, SJNK dropped -19.74% vs DBE's -86.69%.
On 10-year performance, DBE leads with 11.58% vs 5.49% for SJNK. On fees, SJNK is cheaper at 0.40% per year. On volatility, SJNK has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBE has performed better with a 11.58% return vs 5.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SJNK is cheaper with a 0.40% expense ratio, compared with 0.78% for DBE.
SJNK has the higher dividend yield at 7.01%, compared with 2.16% for DBE.
SJNK is categorized as High Yield Bonds, while DBE is Oil & Gas. SJNK tracks Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y), while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.40% for SJNK and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.33 vs 1.99), 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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