SJNK vs. SPYM
SJNK (SPDR Bloomberg Short Term High Yield Bond ETF) and SPYM (State Street SPDR Portfolio S&P 500 ETF) are both exchange-traded funds - SJNK is a High Yield Bonds fund tracking the Bloomberg U.S. High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index, while SPYM is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SJNK returned 5.65%/yr vs 15.85%/yr for SPYM. A 0.64 correlation means they provide meaningful diversification when combined. SJNK charges 0.40%/yr vs 0.02%/yr for SPYM.
Performance
SJNK vs. SPYM - 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 SPYM's 8.16% return. Over the past 10 years, SJNK has underperformed SPYM with an annualized return of 5.65%, while SPYM has yielded a comparatively higher 15.85% annualized return.
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%
SPYM
- 1D
- 0.06%
- 1M
- -2.03%
- YTD
- 8.16%
- 6M
- 6.82%
- 1Y
- 22.22%
- 3Y*
- 20.92%
- 5Y*
- 13.05%
- 10Y*
- 15.85%
SJNK vs. SPYM - 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% |
SPYM State Street SPDR Portfolio S&P 500 ETF | 8.16% | 17.79% | 25.00% | 26.24% | -18.09% | 28.78% | 18.49% | 31.99% | -4.78% | 21.30% |
Correlation
The correlation between SJNK and SPYM is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2012 | 0.64 |
The correlation between SJNK and SPYM shifts across timeframes, from 0.64 (all time) to 0.76 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SJNK vs. SPYM — Risk / Return Rank
SJNK
SPYM
SJNK vs. SPYM - 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 State Street SPDR Portfolio S&P 500 ETF (SPYM). 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 | SPYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.33 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 2.51 | +0.75 |
| Martin ratioReturn relative to average drawdown | 13.99 | 11.10 | +2.88 |
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Drawdowns
SJNK vs. SPYM - Drawdown Comparison
The maximum SJNK drawdown since its inception was -19.74%, smaller than the maximum SPYM drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for SJNK and SPYM.
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Drawdown Indicators
| SJNK | SPYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.74% | -54.46% | +34.72% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -8.90% | +7.17% |
Max Drawdown (3Y)Largest decline over 3 years | -4.77% | -18.72% | +13.95% |
Max Drawdown (5Y)Largest decline over 5 years | -10.18% | -24.48% | +14.30% |
Max Drawdown (10Y)Largest decline over 10 years | -19.74% | -33.87% | +14.13% |
Current DrawdownCurrent decline from peak | -0.16% | -3.19% | +3.03% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -7.14% | +5.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 2.01% | -1.61% |
Volatility
SJNK vs. SPYM - Volatility Comparison
The current volatility for SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) is 0.85%, while State Street SPDR Portfolio S&P 500 ETF (SPYM) has a volatility of 4.75%. This indicates that SJNK experiences smaller price fluctuations and is considered to be less risky than SPYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SJNK | SPYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 4.75% | -3.90% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 9.78% | -7.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.23% | 12.39% | -9.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.84% | 16.90% | -11.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.47% | 18.02% | -11.55% |
SJNK vs. SPYM - Expense Ratio Comparison
SJNK has a 0.40% expense ratio, which is higher than SPYM's 0.02% expense ratio.
Dividends
SJNK vs. SPYM - Dividend Comparison
SJNK's dividend yield for the trailing twelve months is around 7.00%, more than SPYM's 1.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPYM State Street SPDR Portfolio S&P 500 ETF | 1.30% | 1.13% | 1.28% | 1.44% | 1.69% | 1.25% | 1.54% | 1.79% | 2.23% | 1.75% | 1.97% | 1.98% |
Frequently Asked Questions
SJNK and SPYM have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPYM has higher volatility (4.75%) compared to SJNK (0.85%). In terms of maximum drawdown, SJNK dropped -19.74% vs SPYM's -54.46%.
On 10-year performance, SPYM leads with 15.85% vs 5.65% for SJNK. On fees, SPYM is cheaper at 0.02% 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, SPYM has performed better with a 15.85% return vs 5.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYM is cheaper with a 0.02% expense ratio, compared with 0.40% for SJNK.
SJNK has the higher dividend yield at 7.00%, compared with 1.30% for SPYM.
SJNK is categorized as High Yield Bonds, while SPYM is S&P 500. SJNK tracks Bloomberg U.S. High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index, while SPYM tracks S&P 500 Index. Their fees differ too: 0.40% for SJNK and 0.02% for SPYM.
SPYM currently has the higher Sharpe Ratio (1.80 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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