SJNK vs. SHYG
Compare and contrast key facts about SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG).
SJNK and SHYG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SJNK is a passively managed fund by State Street that tracks the performance of the Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y). It was launched on Mar 15, 2012. SHYG is a passively managed fund by iShares that tracks the performance of the Markit iBoxx USD Liquid High Yield 0-5 Index. It was launched on Oct 15, 2013. Both SJNK and SHYG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SJNK or SHYG.
Key characteristics
| SJNK | SHYG | |
|---|---|---|
| YTD Return | 0.85% | 1.08% |
| 1Y Return | 8.78% | 8.37% |
| 3Y Return (Ann) | 2.78% | 2.80% |
| 5Y Return (Ann) | 4.01% | 3.47% |
| 10Y Return (Ann) | 3.53% | 3.56% |
| Sharpe Ratio | 1.82 | 1.74 |
| Daily Std Dev | 4.59% | 4.53% |
| Max Drawdown | -19.74% | -19.26% |
| Current Drawdown | -0.92% | -0.98% |
Correlation
The correlation between SJNK and SHYG is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
SJNK vs. SHYG - Performance Comparison
In the year-to-date period, SJNK achieves a 0.85% return, which is significantly lower than SHYG's 1.08% return. Both investments have delivered pretty close results over the past 10 years, with SJNK having a 3.53% annualized return and SHYG not far ahead at 3.56%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SJNK vs. SHYG - Expense Ratio Comparison
SJNK has a 0.40% expense ratio, which is higher than SHYG's 0.30% expense ratio.
Risk-Adjusted Performance
SJNK vs. SHYG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG). 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.
Dividends
SJNK vs. SHYG - Dividend Comparison
SJNK's dividend yield for the trailing twelve months is around 6.83%, more than SHYG's 6.02% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF | 6.83% | 7.20% | 5.85% | 4.21% | 5.34% | 5.64% | 5.69% | 5.64% | 5.65% | 5.81% | 5.46% | 5.34% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 6.02% | 6.54% | 5.57% | 4.83% | 5.07% | 5.33% | 5.90% | 5.49% | 5.53% | 5.17% | 4.33% | 0.85% |
Drawdowns
SJNK vs. SHYG - Drawdown Comparison
The maximum SJNK drawdown since its inception was -19.74%, roughly equal to the maximum SHYG drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for SJNK and SHYG. For additional features, visit the drawdowns tool.
Volatility
SJNK vs. SHYG - Volatility Comparison
SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) have volatilities of 1.27% and 1.28%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.