SJNK vs. SRLN
Compare and contrast key facts about SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) and SPDR Blackstone Senior Loan ETF (SRLN).
SJNK and SRLN 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. SRLN is a passively managed fund by State Street that tracks the performance of the Markit iBoxx USD Liquid Leveraged Loan Index. It was launched on Apr 3, 2013. Both SJNK and SRLN 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 SRLN.
Key characteristics
| SJNK | SRLN | |
|---|---|---|
| YTD Return | 6.79% | 5.35% |
| 1Y Return | 11.55% | 8.51% |
| 3Y Return (Ann) | 4.23% | 3.97% |
| 5Y Return (Ann) | 4.92% | 4.18% |
| 10Y Return (Ann) | 4.17% | 3.68% |
| Sharpe Ratio | 2.76 | 4.23 |
| Daily Std Dev | 4.23% | 2.03% |
| Max Drawdown | -19.74% | -22.29% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between SJNK and SRLN is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
SJNK vs. SRLN - Performance Comparison
In the year-to-date period, SJNK achieves a 6.79% return, which is significantly higher than SRLN's 5.35% return. Over the past 10 years, SJNK has outperformed SRLN with an annualized return of 4.17%, while SRLN has yielded a comparatively lower 3.68% annualized return. 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. SRLN - Expense Ratio Comparison
SJNK has a 0.40% expense ratio, which is lower than SRLN's 0.70% expense ratio.
Risk-Adjusted Performance
SJNK vs. SRLN - 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 SPDR Blackstone Senior Loan ETF (SRLN). 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. SRLN - Dividend Comparison
SJNK's dividend yield for the trailing twelve months is around 7.38%, less than SRLN's 8.99% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF | 7.38% | 7.20% | 5.85% | 4.21% | 5.34% | 5.64% | 5.69% | 5.64% | 5.65% | 5.81% | 5.46% | 5.34% |
SRLN SPDR Blackstone Senior Loan ETF | 8.99% | 8.44% | 5.72% | 4.45% | 4.91% | 5.39% | 4.98% | 4.01% | 3.94% | 4.43% | 3.66% | 1.91% |
Drawdowns
SJNK vs. SRLN - Drawdown Comparison
The maximum SJNK drawdown since its inception was -19.74%, smaller than the maximum SRLN drawdown of -22.29%. Use the drawdown chart below to compare losses from any high point for SJNK and SRLN. For additional features, visit the drawdowns tool.
Volatility
SJNK vs. SRLN - Volatility Comparison
SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) has a higher volatility of 0.85% compared to SPDR Blackstone Senior Loan ETF (SRLN) at 0.43%. This indicates that SJNK's price experiences larger fluctuations and is considered to be riskier than SRLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.