SJNK vs. HYZD
SJNK (SPDR Bloomberg Short Term High Yield Bond ETF) and HYZD (WisdomTree Interest Rate Hedged High Yield Bond Fund) are both High Yield Bonds funds - SJNK tracks the Bloomberg U.S. High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index while HYZD tracks the WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. Both are passively managed. Over the past 10 years, SJNK returned 5.65%/yr vs 5.71%/yr for HYZD. At a 0.47 correlation, their price movements are largely independent. SJNK charges 0.40%/yr vs 0.43%/yr for HYZD.
Performance
SJNK vs. HYZD - Performance Comparison
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Returns By Period
In the year-to-date period, SJNK achieves a 1.65% return, which is significantly lower than HYZD's 2.65% return. Both investments have delivered pretty close results over the past 10 years, with SJNK having a 5.65% annualized return and HYZD not far ahead at 5.71%.
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%
HYZD
- 1D
- -0.07%
- 1M
- 0.15%
- YTD
- 2.65%
- 6M
- 2.76%
- 1Y
- 7.08%
- 3Y*
- 9.33%
- 5Y*
- 6.07%
- 10Y*
- 5.71%
SJNK vs. HYZD - 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% |
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 2.65% | 7.67% | 9.39% | 11.17% | -2.35% | 6.27% | -0.63% | 9.17% | -2.21% | 6.32% |
Correlation
The correlation between SJNK and HYZD is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 2013 | 0.47 |
The correlation between SJNK and HYZD shifts across timeframes, from 0.41 (1 year) to 0.62 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SJNK vs. HYZD — Risk / Return Rank
SJNK
HYZD
SJNK vs. HYZD - 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 WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD). 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 | HYZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.47 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 3.72 | -0.47 |
| Martin ratioReturn relative to average drawdown | 13.99 | 15.88 | -1.90 |
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Drawdowns
SJNK vs. HYZD - Drawdown Comparison
The maximum SJNK drawdown since its inception was -19.74%, smaller than the maximum HYZD drawdown of -25.66%. Use the drawdown chart below to compare losses from any high point for SJNK and HYZD.
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Drawdown Indicators
| SJNK | HYZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.74% | -25.66% | +5.92% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -1.91% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -4.77% | -5.85% | +1.08% |
Max Drawdown (5Y)Largest decline over 5 years | -10.18% | -8.97% | -1.21% |
Max Drawdown (10Y)Largest decline over 10 years | -19.74% | -25.66% | +5.92% |
Current DrawdownCurrent decline from peak | -0.16% | -0.46% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -2.19% | +0.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.45% | -0.05% |
Volatility
SJNK vs. HYZD - Volatility Comparison
The current volatility for SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) is 0.85%, while WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) has a volatility of 1.12%. This indicates that SJNK experiences smaller price fluctuations and is considered to be less risky than HYZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SJNK | HYZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 1.12% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 2.44% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.23% | 3.04% | +0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.84% | 6.71% | -0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.47% | 8.54% | -2.07% |
SJNK vs. HYZD - Expense Ratio Comparison
SJNK has a 0.40% expense ratio, which is lower than HYZD's 0.43% expense ratio.
Dividends
SJNK vs. HYZD - Dividend Comparison
SJNK's dividend yield for the trailing twelve months is around 7.00%, more than HYZD's 5.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 5.91% | 6.05% | 6.08% | 5.94% | 5.14% | 4.02% | 5.13% | 5.50% | 5.58% | 4.94% | 5.07% | 4.38% |
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 HYZD have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYZD has higher volatility (1.12%) compared to SJNK (0.85%). In terms of maximum drawdown, SJNK dropped -19.74% vs HYZD's -25.66%.
On 10-year performance, HYZD leads with 5.71% vs 5.65% for SJNK. On fees, SJNK is cheaper at 0.40% per year. 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, HYZD has performed better with a 5.71% return vs 5.65%. 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 0.43% for HYZD.
SJNK has the higher dividend yield at 7.00%, compared with 5.91% for HYZD.
SJNK tracks Bloomberg U.S. High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index, while HYZD tracks WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.40% for SJNK and 0.43% for HYZD.
HYZD currently has the higher Sharpe Ratio (2.34 vs 1.74), 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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