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SJNK vs. SNLN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SJNK vs. SNLN

Last updated Jun 4, 2026

SJNK (SPDR Bloomberg Barclays Short Term High Yield Bond ETF) and SNLN (Highland iBoxx Senior Loan ETF) are both High Yield Bonds funds - SJNK tracks the Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y) while SNLN tracks the Markit iBoxx USD Liquid Leveraged Loan Index. Both are passively managed. At a 0.29 correlation, their price movements are largely independent. SJNK charges 0.40%/yr vs 0.75%/yr for SNLN.

Performance

SJNK vs. SNLN - 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 Highland iBoxx Senior Loan ETF (SNLN). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

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%

SNLN

1D
—
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SJNK vs. SNLN - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
SNLN
Highland iBoxx Senior Loan ETF		0.00%0.00%0.00%5.84%-3.76%2.05%-5.73%7.03%-0.95%1.66%

Correlation

The correlation between SJNK and SNLN is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (3Y)
Calculated over the trailing 3-year period

0.06

Correlation (5Y)
Calculated over the trailing 5-year period

0.20

Correlation (10Y)
Calculated over the trailing 10-year period

0.30

Correlation (All Time)
Calculated using the full available price history since Nov 8, 2012

0.29

The correlation between SJNK and SNLN shifts across timeframes, from 0.06 (3 years) to 0.30 (10 years), reflecting how their relationship changes across market environments.

SJNK vs. SNLN - Sectors Allocation Comparison

Sectors
SJNK
SNLN

Communication Services

100.0%

-

Basic Materials

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

100.0%

Real Estate

-

-

Technology

-

-

Utilities

-

-

Communication Services

SJNK
100.0%
SNLN

-

Basic Materials

SJNK

-

SNLN

-

Consumer Cyclical

SJNK

-

SNLN

-

Consumer Defensive

SJNK

-

SNLN

-

Energy

SJNK

-

SNLN

-

Financial Services

SJNK

-

SNLN

-

Healthcare

SJNK

-

SNLN

-

Industrials

SJNK

-

SNLN
100.0%

Real Estate

SJNK

-

SNLN

-

Technology

SJNK

-

SNLN

-

Utilities

SJNK

-

SNLN

-

Compare stocks, funds, or ETFs

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SPDR Bloomberg Barclays Short Term High Yield Bond ETF

Highland iBoxx Senior Loan ETF

Often compared with SJNK:
SJNK vs. SHYGSJNK vs. HYGSJNK vs. USHYSJNK vs. SRLNSJNK vs. HYLBSJNK vs. HIGHSJNK vs. SPSB
Often compared with SNLN:
SNLN vs. FLRTSNLN vs. PGHYSNLN vs. SRLNSNLN vs. BRLNSNLN vs. BKLNSNLN vs. FFRHXSNLN vs. ANGL

Return for Risk

SJNK vs. SNLN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SJNK
SJNK Risk / Return Rank: 6969
Overall Rank
SJNK Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
SJNK Sortino Ratio Rank: 6666
Sortino Ratio Rank
SJNK Omega Ratio Rank: 6464
Omega Ratio Rank
SJNK Calmar Ratio Rank: 7474
Calmar Ratio Rank
SJNK Martin Ratio Rank: 8181
Martin Ratio Rank
SNLN
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. SNLN - 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 Highland iBoxx Senior Loan ETF (SNLN). 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.

SJNKSNLNDifference
Sharpe ratioReturn per unit of total volatility
2.02

—

—

Sortino ratioReturn per unit of downside risk
3.09

—

—

Omega ratioGain probability vs. loss probability

1.40

—

—

Calmar ratioReturn relative to maximum drawdown

3.74

—

—

Martin ratioReturn relative to average drawdown

16.21

—

—

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. SNLN - Sharpe Ratio Comparison

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Sharpe Ratios by Period

SJNKSNLNDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.02

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.83

—

—

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

—

—

Drawdowns

SJNK vs. SNLN - Drawdown Comparison

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Drawdown Indicators

SJNKSNLNDifference

Max Drawdown

Largest peak-to-trough decline

-19.74%

—

—

Max Drawdown (1Y)

Largest decline over 1 year

-1.73%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-4.77%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-10.18%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-19.74%

—

—

Current Drawdown

Current decline from peak

-0.19%

—

—

Average Drawdown

Average peak-to-trough decline

-1.63%

—

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.40%

—

—

Volatility

SJNK vs. SNLN - Volatility Comparison

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Volatility by Period

SJNKSNLNDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.91%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

2.45%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

3.20%

—

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.83%

—

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.49%

—

—

SJNK vs. SNLN - Expense Ratio Comparison

SJNK has a 0.40% expense ratio, which is lower than SNLN's 0.75% expense ratio.

Dividends

SJNK vs. SNLN - Dividend Comparison

SJNK's dividend yield for the trailing twelve months is around 7.02%, while SNLN has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
SNLN
Highland iBoxx Senior Loan ETF		0.00%0.00%0.00%5.50%4.88%2.83%3.21%4.72%5.03%4.75%4.36%4.36%

Frequently Asked Questions

SJNK and SNLN have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SJNK is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SJNK is cheaper with a 0.40% expense ratio, compared with 0.75% for SNLN.

SJNK has the higher dividend yield at 7.02%, compared with 0.00% for SNLN.

SJNK tracks Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y), while SNLN tracks Markit iBoxx USD Liquid Leveraged Loan Index. They also come from different issuers: State Street and Highland Capital Management. Their fees differ too: 0.40% for SJNK and 0.75% for SNLN.

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