SJNK vs. UGA
SJNK (SPDR Bloomberg Short Term High Yield Bond ETF) and UGA (United States Gasoline Fund LP) 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 UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, SJNK returned 5.55%/yr vs 14.31%/yr for UGA. At a 0.18 correlation, their price movements are largely independent. SJNK charges 0.40%/yr vs 0.75%/yr for UGA.
Performance
SJNK vs. UGA - 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 UGA's 64.09% return. Over the past 10 years, SJNK has underperformed UGA with an annualized return of 5.55%, while UGA has yielded a comparatively higher 14.31% annualized return.
SJNK
- 1D
- -0.08%
- 1M
- 0.45%
- YTD
- 1.65%
- 6M
- 1.85%
- 1Y
- 5.90%
- 3Y*
- 8.37%
- 5Y*
- 4.77%
- 10Y*
- 5.55%
UGA
- 1D
- -1.12%
- 1M
- -12.11%
- YTD
- 64.09%
- 6M
- 60.42%
- 1Y
- 59.74%
- 3Y*
- 18.95%
- 5Y*
- 22.69%
- 10Y*
- 14.31%
SJNK vs. UGA - 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% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 1.69% |
Correlation
The correlation between SJNK and UGA is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2012 | 0.18 |
The correlation between SJNK and UGA shifts across timeframes, from -0.29 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SJNK vs. UGA — Risk / Return Rank
SJNK
UGA
SJNK vs. UGA - 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 United States Gasoline Fund LP (UGA). 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 | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.30 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | 3.17 | +0.26 |
| Martin ratioReturn relative to average drawdown | 14.73 | 9.39 | +5.34 |
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Drawdowns
SJNK vs. UGA - Drawdown Comparison
The maximum SJNK drawdown since its inception was -19.74%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for SJNK and UGA.
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Drawdown Indicators
| SJNK | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.74% | -86.59% | +66.85% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -18.96% | +17.23% |
Max Drawdown (3Y)Largest decline over 3 years | -4.77% | -26.68% | +21.91% |
Max Drawdown (5Y)Largest decline over 5 years | -10.18% | -38.11% | +27.93% |
Max Drawdown (10Y)Largest decline over 10 years | -19.74% | -75.89% | +56.15% |
Current DrawdownCurrent decline from peak | -0.16% | -18.05% | +17.89% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -36.69% | +35.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 6.43% | -6.03% |
Volatility
SJNK vs. UGA - Volatility Comparison
The current volatility for SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) is 0.87%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that SJNK experiences smaller price fluctuations and is considered to be less risky than UGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SJNK | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 9.24% | -8.37% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 30.57% | -28.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.24% | 35.22% | -31.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.84% | 34.45% | -28.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.47% | 37.22% | -30.75% |
SJNK vs. UGA - Expense Ratio Comparison
SJNK has a 0.40% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
SJNK vs. UGA - Dividend Comparison
SJNK's dividend yield for the trailing twelve months is around 7.00%, while UGA has not paid dividends to shareholders.
| 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% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SJNK and UGA 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.
UGA has higher volatility (9.24%) compared to SJNK (0.87%). In terms of maximum drawdown, SJNK dropped -19.74% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.31% vs 5.55% for SJNK. On fees, SJNK is cheaper at 0.40% per year. On volatility, SJNK has been the lower-risk option at 0.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UGA has performed better with a 14.31% return vs 5.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SJNK is cheaper with a 0.40% expense ratio, compared with 0.75% for UGA.
SJNK has the higher dividend yield at 7.00%, compared with 0.00% for UGA.
SJNK is categorized as High Yield Bonds, while UGA is Oil & Gas. SJNK tracks Bloomberg U.S. High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: State Street and Concierge Technologies. Their fees differ too: 0.40% for SJNK and 0.75% for UGA.
SJNK currently has the higher Sharpe Ratio (1.83 vs 1.73), 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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