SJNK vs. FTSL
SJNK (SPDR Bloomberg Short Term High Yield Bond ETF) and FTSL (First Trust Senior Loan Fund) are both High Yield Bonds funds. SJNK is passively managed, while FTSL is actively managed. Over the past 10 years, SJNK returned 5.55%/yr vs 4.45%/yr for FTSL. At a 0.43 correlation, their price movements are largely independent. SJNK charges 0.40%/yr vs 0.86%/yr for FTSL.
Performance
SJNK vs. FTSL - Performance Comparison
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Returns By Period
In the year-to-date period, SJNK achieves a 1.65% return, which is significantly higher than FTSL's 0.65% return. Over the past 10 years, SJNK has outperformed FTSL with an annualized return of 5.55%, while FTSL has yielded a comparatively lower 4.45% annualized return.
SJNK
- 1D
- -0.08%
- 1M
- 0.45%
- YTD
- 1.65%
- 6M
- 1.85%
- 1Y
- 5.90%
- 3Y*
- 8.37%
- 5Y*
- 4.77%
- 10Y*
- 5.55%
FTSL
- 1D
- -0.01%
- 1M
- 0.20%
- YTD
- 0.65%
- 6M
- 0.65%
- 1Y
- 4.20%
- 3Y*
- 7.14%
- 5Y*
- 4.99%
- 10Y*
- 4.45%
SJNK vs. FTSL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SJNK SPDR Bloomberg Short Term High Yield Bond ETF | 1.65% | 7.68% | 8.24% | 11.63% | -5.50% | 5.06% | 5.82% | 9.49% | -0.27% | 5.27% |
FTSL First Trust Senior Loan Fund | 0.65% | 5.98% | 8.27% | 11.58% | -2.50% | 3.94% | 2.99% | 10.11% | -1.30% | 2.59% |
Correlation
The correlation between SJNK and FTSL is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since May 2, 2013 | 0.43 |
The correlation between SJNK and FTSL shifts across timeframes, from 0.43 (all time) to 0.57 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SJNK vs. FTSL — Risk / Return Rank
SJNK
FTSL
SJNK vs. FTSL - 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 First Trust Senior Loan Fund (FTSL). 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 | FTSL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.45 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | 1.81 | +1.62 |
| Martin ratioReturn relative to average drawdown | 14.73 | 6.72 | +8.01 |
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Drawdowns
SJNK vs. FTSL - Drawdown Comparison
The maximum SJNK drawdown since its inception was -19.74%, smaller than the maximum FTSL drawdown of -22.67%. Use the drawdown chart below to compare losses from any high point for SJNK and FTSL.
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Drawdown Indicators
| SJNK | FTSL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.74% | -22.67% | +2.93% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -2.33% | +0.60% |
Max Drawdown (3Y)Largest decline over 3 years | -4.77% | -2.66% | -2.11% |
Max Drawdown (5Y)Largest decline over 5 years | -10.18% | -6.96% | -3.22% |
Max Drawdown (10Y)Largest decline over 10 years | -19.74% | -22.67% | +2.93% |
Current DrawdownCurrent decline from peak | -0.16% | -0.03% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -0.76% | -0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.63% | -0.23% |
Volatility
SJNK vs. FTSL - Volatility Comparison
SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) has a higher volatility of 0.87% compared to First Trust Senior Loan Fund (FTSL) at 0.33%. This indicates that SJNK's price experiences larger fluctuations and is considered to be riskier than FTSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SJNK | FTSL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 0.33% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 1.96% | +0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.24% | 2.12% | +1.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.84% | 3.35% | +2.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.47% | 5.19% | +1.28% |
SJNK vs. FTSL - Expense Ratio Comparison
SJNK has a 0.40% expense ratio, which is lower than FTSL's 0.86% expense ratio.
Dividends
SJNK vs. FTSL - Dividend Comparison
SJNK's dividend yield for the trailing twelve months is around 7.00%, more than FTSL's 6.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTSL First Trust Senior Loan Fund | 6.46% | 6.59% | 7.56% | 7.59% | 4.77% | 3.17% | 3.48% | 4.44% | 4.29% | 3.64% | 3.70% | 3.95% |
SJNK SPDR Bloomberg Short Term High Yield Bond ETF | 7.00% | 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 FTSL have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SJNK has higher volatility (0.87%) compared to FTSL (0.33%). In terms of maximum drawdown, SJNK dropped -19.74% vs FTSL's -22.67%.
On 10-year performance, SJNK leads with 5.55% vs 4.45% for FTSL. On fees, SJNK is cheaper at 0.40% per year. On volatility, FTSL has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SJNK has performed better with a 5.55% return vs 4.45%. 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 0.86% for FTSL.
SJNK has the higher dividend yield at 7.00%, compared with 6.46% for FTSL.
They also come from different issuers: State Street and First Trust. Their fees differ too: 0.40% for SJNK and 0.86% for FTSL.
FTSL currently has the higher Sharpe Ratio (1.99 vs 1.83), 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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