SJNK vs. SHYG

Last updated Jun 4, 2026

SJNK (SPDR Bloomberg Barclays Short Term High Yield Bond ETF) and SHYG (iShares 0-5 Year 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 SHYG tracks the Markit iBoxx USD Liquid High Yield 0-5 Index. Both are passively managed. Over the past 10 years, SJNK returned 5.51%/yr vs 5.18%/yr for SHYG. Their correlation of 0.90 suggests significant overlap in exposure. SJNK charges 0.40%/yr vs 0.30%/yr for SHYG.

Performance

SJNK vs. SHYG - 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 iShares 0-5 Year High Yield Corporate Bond ETF (SHYG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SJNK having a 1.41% return and SHYG slightly higher at 1.44%. Over the past 10 years, SJNK has outperformed SHYG with an annualized return of 5.51%, while SHYG has yielded a comparatively lower 5.18% annualized 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%

SHYG

• 1D: -0.24%
• 1M: 0.35%
• YTD: 1.44%
• 6M: 1.95%
• 1Y: 6.50%
• 3Y*: 8.12%
• 5Y*: 4.83%
• 10Y*: 5.18%

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

SJNK vs. SHYG - 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%
SHYG iShares 0-5 Year High Yield Corporate Bond ETF	1.44%	7.94%	8.17%	10.38%	-4.71%	4.60%	3.15%	9.93%	0.02%	5.11%

Correlation

The correlation between SJNK and SHYG is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 18, 2013	0.90

The correlation between SJNK and SHYG has been stable across timeframes, ranging from 0.90 to 0.98 - a consistent structural relationship.

SJNK vs. SHYG - Sectors Allocation Comparison

Sectors	SJNK	SHYG
Communication Services	100.0%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	0.7%
Technology	-	-
Utilities	-	99.3%

Return for Risk

SJNK vs. SHYG — Risk / Return Rank

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

SJNK

SJNK Risk / Return Rank: 69
SJNK Sharpe Ratio Rank: 59
SJNK Sortino Ratio Rank: 66
SJNK Omega Ratio Rank: 64
SJNK Calmar Ratio Rank: 74
SJNK Martin Ratio Rank: 81

SHYG

SHYG Risk / Return Rank: 70
SHYG Sharpe Ratio Rank: 60
SHYG Sortino Ratio Rank: 68
SHYG Omega Ratio Rank: 67
SHYG Calmar Ratio Rank: 74
SHYG Martin Ratio Rank: 80

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. SHYG - 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 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.

	SJNK	SHYG	Difference
Sharpe ratio: Return per unit of total volatility	2.02	2.07	-0.04
Sortino ratio: Return per unit of downside risk	3.09	3.17	-0.08
Omega ratio: Gain probability vs. loss probability	1.40	1.41	-0.02
Calmar ratio: Return relative to maximum drawdown	3.74	3.73	+0.01
Martin ratio: Return relative to average drawdown	16.21	16.23	-0.03
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. SHYG - Sharpe Ratio Comparison

The current SJNK Sharpe Ratio is 2.02, which is comparable to the SHYG Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of SJNK and SHYG, 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	SHYG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	2.07	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.85	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.81	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.73	+0.07

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.

Drawdown Indicators

	SJNK	SHYG	Difference
Max Drawdown Largest peak-to-trough decline	-19.74%	-19.26%	-0.48%
Max Drawdown (1Y) Largest decline over 1 year	-1.73%	-1.75%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-4.77%	-4.53%	-0.24%
Max Drawdown (5Y) Largest decline over 5 years	-10.18%	-9.39%	-0.79%
Max Drawdown (10Y) Largest decline over 10 years	-19.74%	-19.26%	-0.48%
Current Drawdown Current decline from peak	-0.19%	-0.24%	+0.05%
Average Drawdown Average peak-to-trough decline	-1.63%	-1.44%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.40%	0.00%

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 0.91% and 0.94%, 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.

Volatility by Period

	SJNK	SHYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.91%	0.94%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.45%	2.51%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	3.20%	3.16%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.83%	5.73%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.49%	6.42%	+0.07%

SJNK vs. SHYG - Expense Ratio Comparison

SJNK has a 0.40% expense ratio, which is higher than SHYG's 0.30% expense ratio.

Dividends

SJNK vs. SHYG - Dividend Comparison

SJNK's dividend yield for the trailing twelve months is around 7.02%, which matches SHYG's 7.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHYG iShares 0-5 Year High Yield Corporate Bond ETF	7.02%	7.03%	6.93%	6.54%	5.57%	4.83%	5.07%	5.33%	5.90%	5.49%	5.53%	5.17%
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

Can I hold both SJNK and SHYG in my portfolio?

With a correlation of 0.96, SJNK and SHYG 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.

Which is riskier, SJNK or SHYG?

SHYG has higher volatility (0.94%) compared to SJNK (0.91%). In terms of maximum drawdown, SJNK dropped -19.74% vs SHYG's -19.26%.

Which ETF is better, SJNK or SHYG?

On 10-year performance, SJNK leads with 5.51% vs 5.18% for SHYG. On fees, SHYG is cheaper at 0.30% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SJNK or SHYG?

Over the 10-year period, SJNK has performed better with a 5.51% return vs 5.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SJNK or SHYG?

SHYG is cheaper with a 0.30% expense ratio, compared with 0.40% for SJNK.

Which ETF pays a higher dividend yield, SJNK or SHYG?

SJNK and SHYG have nearly identical dividend yields, around 7.02%.

What is the main difference between SJNK and SHYG?

SJNK tracks Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y), while SHYG tracks Markit iBoxx USD Liquid High Yield 0-5 Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for SJNK and 0.30% for SHYG.

Which has better risk-adjusted returns?

SHYG currently has the higher Sharpe Ratio (2.07 vs 2.02), 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.