SJNK vs. HYLB
SJNK (SPDR Bloomberg Barclays Short Term High Yield Bond ETF) and HYLB (Xtrackers USD 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 HYLB tracks the Solactive USD High Yield Corporates Total Market Index. Both are passively managed. Over the past 5 years, SJNK returned 4.84%/yr vs 4.04%/yr for HYLB. Their correlation of 0.93 suggests significant overlap in exposure. SJNK charges 0.40%/yr vs 0.15%/yr for HYLB.
Performance
SJNK vs. HYLB - Performance Comparison
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Returns By Period
In the year-to-date period, SJNK achieves a 1.41% return, which is significantly lower than HYLB's 1.53% return.
SJNK
- 1D
- -0.12%
- 1M
- 0.37%
- YTD
- 1.41%
- 6M
- 1.87%
- 1Y
- 6.45%
- 3Y*
- 8.21%
- 5Y*
- 4.84%
- 10Y*
- 5.51%
HYLB
- 1D
- -0.18%
- 1M
- 0.38%
- YTD
- 1.53%
- 6M
- 2.00%
- 1Y
- 6.87%
- 3Y*
- 8.72%
- 5Y*
- 4.04%
- 10Y*
- —
SJNK vs. HYLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF | 1.41% | 7.68% | 8.24% | 11.63% | -5.50% | 5.06% | 5.82% | 9.49% | -0.27% | 5.27% |
HYLB Xtrackers USD High Yield Corporate Bond ETF | 1.53% | 8.74% | 8.14% | 12.03% | -10.80% | 3.94% | 5.04% | 14.06% | -1.80% | 6.00% |
Correlation
The correlation between SJNK and HYLB is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2016 | 0.93 |
The correlation between SJNK and HYLB has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
SJNK vs. HYLB — Risk / Return Rank
SJNK
HYLB
SJNK vs. HYLB - 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 Xtrackers USD High Yield Corporate Bond ETF (HYLB). 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 | HYLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.37 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 3.04 | +0.70 |
| Martin ratioReturn relative to average drawdown | 16.21 | 13.06 | +3.14 |
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 | HYLB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.02 | 1.86 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.54 | +0.29 |
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 | 0.58 | +0.21 |
Drawdowns
SJNK vs. HYLB - Drawdown Comparison
The maximum SJNK drawdown since its inception was -19.74%, smaller than the maximum HYLB drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for SJNK and HYLB.
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Drawdown Indicators
| SJNK | HYLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.74% | -22.91% | +3.17% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -2.27% | +0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -4.77% | -4.51% | -0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -10.18% | -15.54% | +5.36% |
Max Drawdown (10Y)Largest decline over 10 years | -19.74% | — | — |
Current DrawdownCurrent decline from peak | -0.19% | -0.19% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -2.43% | +0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.53% | -0.13% |
Volatility
SJNK vs. HYLB - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) is 0.91%, while Xtrackers USD High Yield Corporate Bond ETF (HYLB) has a volatility of 1.20%. This indicates that SJNK experiences smaller price fluctuations and is considered to be less risky than HYLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SJNK | HYLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.20% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 2.45% | 2.93% | -0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.20% | 3.70% | -0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.83% | 7.47% | -1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.49% | 8.18% | -1.69% |
SJNK vs. HYLB - Expense Ratio Comparison
SJNK has a 0.40% expense ratio, which is higher than HYLB's 0.15% expense ratio.
Dividends
SJNK vs. HYLB - Dividend Comparison
SJNK's dividend yield for the trailing twelve months is around 7.02%, more than HYLB's 6.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYLB Xtrackers USD High Yield Corporate Bond ETF | 6.49% | 6.29% | 6.31% | 5.84% | 5.53% | 4.45% | 5.22% | 5.71% | 5.95% | 5.85% | 0.27% | 0.00% |
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF | 7.02% | 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
With a correlation of 0.95, SJNK and HYLB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
HYLB has higher volatility (1.20%) compared to SJNK (0.91%). In terms of maximum drawdown, SJNK dropped -19.74% vs HYLB's -22.91%.
On 5-year performance, SJNK leads with 4.84% vs 4.04% for HYLB. On fees, HYLB is cheaper at 0.15% per year. On volatility, SJNK has been the lower-risk option at 0.91%. 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 4.84% return vs 4.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYLB is cheaper with a 0.15% expense ratio, compared with 0.40% for SJNK.
SJNK has the higher dividend yield at 7.02%, compared with 6.49% for HYLB.
SJNK tracks Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y), while HYLB tracks Solactive USD High Yield Corporates Total Market Index. They also come from different issuers: State Street and DWS. Their fees differ too: 0.40% for SJNK and 0.15% for HYLB.
SJNK currently has the higher Sharpe Ratio (2.02 vs 1.86), 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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