SJNK vs. HIGH
SJNK (SPDR Bloomberg Short Term High Yield Bond ETF) and HIGH (Simplify Enhanced Income ETF) 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 HIGH is a Derivative Income fund actively managed by Simplify. SJNK is passively managed, while HIGH is actively managed. Over the past 3 years, SJNK returned 7.70%/yr vs 2.43%/yr for HIGH. Their 0.29 correlation means their historical movements had little consistent relationship. SJNK charges 0.40%/yr vs 0.50%/yr for HIGH.
Performance
SJNK vs. HIGH - Performance Comparison
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Returns By Period
In the year-to-date period, SJNK achieves a 1.60% return, which is significantly higher than HIGH's -1.00% return.
SJNK
- 1D
- 0.00%
- 1M
- -0.32%
- 6M
- 1.16%
- YTD
- 1.60%
- 1Y
- 4.72%
- 3Y*
- 7.70%
- 5Y*
- 4.76%
- 10Y*
- 5.31%
- ALL TIME*
- 4.61%
HIGH
- 1D
- 0.30%
- 1M
- -0.44%
- 6M
- -0.14%
- YTD
- -1.00%
- 1Y
- -1.25%
- 3Y*
- 2.43%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.43%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $264.89K | $245.02K | $537.34K | |
| $72.70M | $61.59M | $61.63M |
SJNK vs. HIGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SJNK SPDR Bloomberg Short Term High Yield Bond ETF | 1.60% | 7.68% | 8.24% | 11.63% | 1.10% |
HIGH Simplify Enhanced Income ETF | -1.00% | 4.35% | 1.52% | 7.70% | 0.47% |
Correlation
The correlation between SJNK and HIGH is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.53 |
Correlation (3Y) Balances recent behavior with more history. | 0.37 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2022 | 0.29 |
Over the past year, SJNK and HIGH have become more correlated (0.53) than their long-term average of 0.29, meaning their price movements have been converging.
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Return for Risk
SJNK vs. HIGH — Risk / Return Rank
SJNK
HIGH
SJNK vs. HIGH - 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 Simplify Enhanced Income ETF (HIGH). 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 | HIGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.69 | ||
| Sortino ratioReturn per unit of downside risk | +2.52 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.97 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | -0.21 | +2.96 |
| Martin ratioReturn relative to average drawdown | 11.44 | -0.34 | +11.78 |
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Drawdowns
SJNK vs. HIGH - Drawdown Comparison
The maximum SJNK drawdown since its inception was -19.74%, which is greater than HIGH's maximum drawdown of -9.50%. Use the drawdown chart below to compare losses from any high point for SJNK and HIGH.
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Drawdown Indicators
| SJNK | HIGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.74% | -9.50% | -10.24% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -7.08% | +5.35% |
Max Drawdown (3Y)Largest decline over 3 years | -4.77% | -9.50% | +4.73% |
Max Drawdown (5Y)Largest decline over 5 years | -10.18% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.74% | — | — |
Current DrawdownCurrent decline from peak | -0.48% | -7.69% | +7.21% |
Average DrawdownAverage peak-to-trough decline | -1.62% | -2.59% | +0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 4.46% | -4.05% |
Volatility
SJNK vs. HIGH - Volatility Comparison
The current volatility for SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) is 0.66%, while Simplify Enhanced Income ETF (HIGH) has a volatility of 2.16%. This indicates that SJNK experiences smaller price fluctuations and is considered to be less risky than HIGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SJNK | HIGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 2.16% | -1.50% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 3.90% | -1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.22% | 7.23% | -4.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.83% | 9.46% | -3.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.44% | 9.46% | -3.02% |
SJNK vs. HIGH - Expense Ratio Comparison
SJNK has a 0.40% expense ratio, which is lower than HIGH's 0.50% expense ratio.
Dividends
SJNK vs. HIGH - Dividend Comparison
SJNK's dividend yield for the trailing twelve months is around 7.04%, more than HIGH's 6.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HIGH Simplify Enhanced Income ETF | 6.88% | 7.71% | 8.34% | 9.40% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SJNK SPDR Bloomberg Short Term High Yield Bond ETF | 6.43% | 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 HIGH have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIGH has higher volatility (2.16%) compared to SJNK (0.66%). In terms of maximum drawdown, SJNK dropped -19.74% vs HIGH's -9.50%.
On 3-year performance, SJNK leads with 7.70% vs 2.43% for HIGH. On fees, SJNK is cheaper at 0.40% per year. On volatility, SJNK has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SJNK has performed better with a 7.70% return vs 2.43%. 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 0.50% for HIGH.
HIGH has the higher dividend yield at 6.88%, compared with 6.43% for SJNK.
SJNK is categorized as High Yield Bonds, while HIGH is Derivative Income. They also come from different issuers: State Street and Simplify. Their fees differ too: 0.40% for SJNK and 0.50% for HIGH.
SJNK currently has the higher Sharpe Ratio (1.48 vs -0.21), 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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