SJNK vs. RGHYX

Last updated Jun 5, 2026

SJNK (SPDR Bloomberg Barclays Short Term High Yield Bond ETF) and RGHYX (RBC BlueBay High Yield Bond Fund) are both High Yield Bonds funds. Over the past 10 years, SJNK returned 5.49%/yr vs 6.08%/yr for RGHYX. A 0.58 correlation means they provide meaningful diversification when combined. SJNK charges 0.40%/yr vs 0.57%/yr for RGHYX.

Performance

SJNK vs. RGHYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) and RBC BlueBay High Yield Bond Fund (RGHYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SJNK achieves a 1.49% return, which is significantly higher than RGHYX's 1.36% return. Over the past 10 years, SJNK has underperformed RGHYX with an annualized return of 5.49%, while RGHYX has yielded a comparatively higher 6.08% annualized 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%

RGHYX

• 1D: -0.10%
• 1M: 0.43%
• YTD: 1.36%
• 6M: 1.94%
• 1Y: 6.98%
• 3Y*: 8.83%
• 5Y*: 4.57%
• 10Y*: 6.08%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SJNK vs. RGHYX - 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%	5.27%
RGHYX RBC BlueBay High Yield Bond Fund	1.36%	9.02%	7.14%	12.88%	-8.48%	3.72%	9.65%	15.83%	-0.73%	6.72%

Correlation

The correlation between SJNK and RGHYX is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Mar 16, 2012	0.59

The correlation between SJNK and RGHYX shifts across timeframes, from 0.58 (all time) to 0.71 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

SJNK vs. RGHYX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SJNK

SJNK Risk / Return Rank: 70
SJNK Sharpe Ratio Rank: 59
SJNK Sortino Ratio Rank: 67
SJNK Omega Ratio Rank: 66
SJNK Calmar Ratio Rank: 74
SJNK Martin Ratio Rank: 81

RGHYX

RGHYX Risk / Return Rank: 76
RGHYX Sharpe Ratio Rank: 85
RGHYX Sortino Ratio Rank: 89
RGHYX Omega Ratio Rank: 88
RGHYX Calmar Ratio Rank: 52
RGHYX Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SJNK vs. RGHYX - 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 RBC BlueBay High Yield Bond Fund (RGHYX). 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	RGHYX	Difference
Sharpe ratio: Return per unit of total volatility	1.99	2.78	-0.80
Sortino ratio: Return per unit of downside risk	3.03	4.34	-1.31
Omega ratio: Gain probability vs. loss probability	1.39	1.63	-0.24
Calmar ratio: Return relative to maximum drawdown	3.67	2.74	+0.93
Martin ratio: Return relative to average drawdown	15.90	12.69	+3.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SJNK vs. RGHYX - Sharpe Ratio Comparison

The current SJNK Sharpe Ratio is 1.99, which is comparable to the RGHYX Sharpe Ratio of 2.78. The chart below compares the historical Sharpe Ratios of SJNK and RGHYX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SJNK	RGHYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	2.78	-0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	1.05	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	1.31	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	1.43	-0.64

Drawdowns

SJNK vs. RGHYX - Drawdown Comparison

The maximum SJNK drawdown since its inception was -19.74%, which is greater than RGHYX's maximum drawdown of -17.38%. Use the drawdown chart below to compare losses from any high point for SJNK and RGHYX.

Drawdown Indicators

	SJNK	RGHYX	Difference
Max Drawdown Largest peak-to-trough decline	-19.74%	-17.38%	-2.36%
Max Drawdown (1Y) Largest decline over 1 year	-1.73%	-2.65%	+0.92%
Max Drawdown (3Y) Largest decline over 3 years	-4.77%	-4.01%	-0.76%
Max Drawdown (5Y) Largest decline over 5 years	-10.18%	-12.79%	+2.61%
Max Drawdown (10Y) Largest decline over 10 years	-19.74%	-17.38%	-2.36%
Current Drawdown Current decline from peak	-0.11%	-0.17%	+0.06%
Average Drawdown Average peak-to-trough decline	-1.63%	-1.48%	-0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.57%	-0.17%

Volatility

SJNK vs. RGHYX - Volatility Comparison

SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) has a higher volatility of 0.90% compared to RBC BlueBay High Yield Bond Fund (RGHYX) at 0.84%. This indicates that SJNK's price experiences larger fluctuations and is considered to be riskier than RGHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SJNK	RGHYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.90%	0.84%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	2.45%	2.11%	+0.34%
Volatility (1Y) Calculated over the trailing 1-year period	3.20%	2.61%	+0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.83%	4.38%	+1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.49%	4.67%	+1.82%

SJNK vs. RGHYX - Expense Ratio Comparison

SJNK has a 0.40% expense ratio, which is lower than RGHYX's 0.57% expense ratio.

Dividends

SJNK vs. RGHYX - Dividend Comparison

SJNK's dividend yield for the trailing twelve months is around 7.01%, more than RGHYX's 6.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RGHYX RBC BlueBay High Yield Bond Fund	6.39%	6.68%	6.91%	6.22%	6.04%	5.29%	5.54%	4.88%	6.79%	3.88%	4.44%	4.38%
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

Can I hold both SJNK and RGHYX in my portfolio?

SJNK and RGHYX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SJNK or RGHYX?

SJNK has higher volatility (0.90%) compared to RGHYX (0.84%). In terms of maximum drawdown, SJNK dropped -19.74% vs RGHYX's -17.38%.

Which has better risk-adjusted returns?

RGHYX currently has the higher Sharpe Ratio (2.78 vs 1.99), 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.