SJNK vs. GLD
SJNK (SPDR Bloomberg Short Term High Yield Bond ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - SJNK is a High Yield Bonds fund tracking the Bloomberg U.S. High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, SJNK returned 5.65%/yr vs 11.30%/yr for GLD. At a 0.11 correlation, their price movements are largely independent. Both charge a 0.40% expense ratio.
Performance
SJNK vs. GLD - 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 GLD's -6.77% return. Over the past 10 years, SJNK has underperformed GLD with an annualized return of 5.65%, while GLD has yielded a comparatively higher 11.30% annualized return.
SJNK
- 1D
- 0.08%
- 1M
- 0.21%
- YTD
- 1.65%
- 6M
- 1.65%
- 1Y
- 5.61%
- 3Y*
- 8.31%
- 5Y*
- 4.76%
- 10Y*
- 5.65%
GLD
- 1D
- 0.97%
- 1M
- -10.76%
- YTD
- -6.77%
- 6M
- -10.31%
- 1Y
- 20.30%
- 3Y*
- 27.44%
- 5Y*
- 17.27%
- 10Y*
- 11.30%
SJNK vs. GLD - 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% |
GLD SPDR Gold Shares | -6.77% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between SJNK and GLD is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2012 | 0.11 |
Over the past year, SJNK and GLD have become more correlated (0.31) than their long-term average of 0.11, meaning their price movements have been converging.
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Return for Risk
SJNK vs. GLD — Risk / Return Rank
SJNK
GLD
SJNK vs. GLD - 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 SPDR Gold Shares (GLD). 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 | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.01 | ||
| Sortino ratioReturn per unit of downside risk | +1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.16 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 0.78 | +2.48 |
| Martin ratioReturn relative to average drawdown | 13.99 | 2.17 | +11.82 |
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Drawdowns
SJNK vs. GLD - Drawdown Comparison
The maximum SJNK drawdown since its inception was -19.74%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for SJNK and GLD.
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Drawdown Indicators
| SJNK | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.74% | -45.56% | +25.82% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -26.21% | +24.48% |
Max Drawdown (3Y)Largest decline over 3 years | -4.77% | -26.21% | +21.44% |
Max Drawdown (5Y)Largest decline over 5 years | -10.18% | -26.21% | +16.03% |
Max Drawdown (10Y)Largest decline over 10 years | -19.74% | -26.21% | +6.47% |
Current DrawdownCurrent decline from peak | -0.16% | -25.50% | +25.34% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -16.17% | +14.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 9.38% | -8.98% |
Volatility
SJNK vs. GLD - Volatility Comparison
The current volatility for SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) is 0.85%, while SPDR Gold Shares (GLD) has a volatility of 8.70%. This indicates that SJNK experiences smaller price fluctuations and is considered to be less risky than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SJNK | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 8.70% | -7.85% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 24.48% | -21.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.23% | 27.71% | -24.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.84% | 18.30% | -12.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.47% | 16.07% | -9.60% |
SJNK vs. GLD - Expense Ratio Comparison
Both SJNK and GLD have an expense ratio of 0.40%.
Dividends
SJNK vs. GLD - Dividend Comparison
SJNK's dividend yield for the trailing twelve months is around 7.00%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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 GLD have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (8.70%) compared to SJNK (0.85%). In terms of maximum drawdown, SJNK dropped -19.74% vs GLD's -45.56%.
On 10-year performance, GLD leads with 11.30% vs 5.65% for SJNK. Both ETFs have the same 0.40% expense ratio. On volatility, SJNK has been the lower-risk option at 0.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLD has performed better with a 11.30% return vs 5.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SJNK and GLD have the same expense ratio: 0.40% per year.
SJNK has the higher dividend yield at 7.00%, compared with 0.00% for GLD.
SJNK is categorized as High Yield Bonds, while GLD is Gold. SJNK tracks Bloomberg U.S. High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index, while GLD tracks LBMA Gold Price PM.
SJNK currently has the higher Sharpe Ratio (1.74 vs 0.74), 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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