SJNK vs. GHYB
SJNK (SPDR Bloomberg Barclays Short Term High Yield Bond ETF) and GHYB (Goldman Sachs Access High Yield Corporate Bond ETF) are both High Yield Bonds funds - SJNK tracks the Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y) while GHYB tracks the FTSE Goldman Sachs High Yield Corporate Bond Index. Both are passively managed. Over the past 5 years, SJNK returned 4.86%/yr vs 4.02%/yr for GHYB. Their correlation of 0.89 suggests significant overlap in exposure. SJNK charges 0.40%/yr vs 0.34%/yr for GHYB.
Performance
SJNK vs. GHYB - Performance Comparison
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Returns By Period
In the year-to-date period, SJNK achieves a 1.49% return, which is significantly higher than GHYB's 1.32% 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%
GHYB
- 1D
- 0.16%
- 1M
- 0.37%
- YTD
- 1.32%
- 6M
- 1.69%
- 1Y
- 6.90%
- 3Y*
- 8.66%
- 5Y*
- 4.02%
- 10Y*
- —
SJNK vs. GHYB - 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% | 1.01% |
GHYB Goldman Sachs Access High Yield Corporate Bond ETF | 1.32% | 9.38% | 7.76% | 12.13% | -11.02% | 3.21% | 6.38% | 14.55% | -2.01% | 0.27% |
Correlation
The correlation between SJNK and GHYB is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2017 | 0.89 |
The correlation between SJNK and GHYB has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.
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Return for Risk
SJNK vs. GHYB — Risk / Return Rank
SJNK
GHYB
SJNK vs. GHYB - 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 Goldman Sachs Access High Yield Corporate Bond ETF (GHYB). 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 | GHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.38 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.67 | 2.59 | +1.08 |
| Martin ratioReturn relative to average drawdown | 15.90 | 11.85 | +4.05 |
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 | GHYB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.99 | 1.98 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.53 | +0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.80 | 0.55 | +0.25 |
Drawdowns
SJNK vs. GHYB - Drawdown Comparison
The maximum SJNK drawdown since its inception was -19.74%, smaller than the maximum GHYB drawdown of -21.48%. Use the drawdown chart below to compare losses from any high point for SJNK and GHYB.
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Drawdown Indicators
| SJNK | GHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.74% | -21.48% | +1.74% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -2.67% | +0.94% |
Max Drawdown (3Y)Largest decline over 3 years | -4.77% | -4.66% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -10.18% | -16.08% | +5.90% |
Max Drawdown (10Y)Largest decline over 10 years | -19.74% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | -0.20% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -2.57% | +0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.58% | -0.18% |
Volatility
SJNK vs. GHYB - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) is 0.90%, while Goldman Sachs Access High Yield Corporate Bond ETF (GHYB) has a volatility of 1.08%. This indicates that SJNK experiences smaller price fluctuations and is considered to be less risky than GHYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SJNK | GHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 1.08% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.45% | 2.72% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.20% | 3.50% | -0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.83% | 7.69% | -1.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.49% | 8.28% | -1.79% |
SJNK vs. GHYB - Expense Ratio Comparison
SJNK has a 0.40% expense ratio, which is higher than GHYB's 0.34% expense ratio.
Dividends
SJNK vs. GHYB - Dividend Comparison
SJNK's dividend yield for the trailing twelve months is around 7.01%, more than GHYB's 6.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHYB Goldman Sachs Access High Yield Corporate Bond ETF | 6.80% | 7.00% | 6.65% | 6.20% | 5.67% | 4.46% | 4.75% | 5.57% | 5.68% | 1.45% | 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 GHYB have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GHYB has higher volatility (1.08%) compared to SJNK (0.90%). In terms of maximum drawdown, SJNK dropped -19.74% vs GHYB's -21.48%.
On 5-year performance, SJNK leads with 4.86% vs 4.02% for GHYB. On fees, GHYB is cheaper at 0.34% 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 5-year period, SJNK has performed better with a 4.86% return vs 4.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GHYB is cheaper with a 0.34% expense ratio, compared with 0.40% for SJNK.
SJNK has the higher dividend yield at 7.01%, compared with 6.80% for GHYB.
SJNK tracks Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y), while GHYB tracks FTSE Goldman Sachs High Yield Corporate Bond Index. They also come from different issuers: State Street and Goldman Sachs. Their fees differ too: 0.40% for SJNK and 0.34% for GHYB.
SJNK currently has the higher Sharpe Ratio (1.99 vs 1.98), 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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