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SJNK vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SJNK vs. YCS

Last updated Jun 4, 2026

SJNK (SPDR Bloomberg Barclays Short Term High Yield Bond ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - SJNK is a High Yield Bonds fund tracking the Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y), while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, SJNK returned 5.51%/yr vs 12.34%/yr for YCS. At a 0.02 correlation, their price movements are largely independent. SJNK charges 0.40%/yr vs 1.00%/yr for YCS.

Performance

SJNK vs. YCS - 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 ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SJNK achieves a 1.41% return, which is significantly lower than YCS's 7.17% return. Over the past 10 years, SJNK has underperformed YCS with an annualized return of 5.51%, while YCS has yielded a comparatively higher 12.34% 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%

YCS

1D
0.17%
1M
4.42%
YTD
7.17%
6M
10.05%
1Y
32.82%
3Y*
19.84%
5Y*
23.54%
10Y*
12.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SJNK vs. YCS - 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%
YCS
ProShares UltraShort Yen		7.17%9.04%35.41%28.70%29.09%22.38%-11.18%3.37%-1.49%-6.57%

Correlation

The correlation between SJNK and YCS is -0.37, 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

-0.37

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

-0.25

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

-0.22

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

-0.05

Correlation (All Time)
Calculated using the full available price history since Mar 16, 2012

0.02

The correlation between SJNK and YCS shifts across timeframes, from -0.37 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Bloomberg Barclays Short Term High Yield Bond ETF

ProShares UltraShort Yen

Often compared with SJNK:
SJNK vs. SHYGSJNK vs. HYGSJNK vs. USHYSJNK vs. SRLNSJNK vs. HYLBSJNK vs. HIGHSJNK vs. SPSB
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

SJNK vs. YCS — 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
YCS
YCS Risk / Return Rank: 6161
Overall Rank
YCS Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
YCS Sortino Ratio Rank: 4949
Sortino Ratio Rank
YCS Omega Ratio Rank: 5656
Omega Ratio Rank
YCS Calmar Ratio Rank: 7878
Calmar Ratio Rank
YCS Martin Ratio Rank: 6767
Martin Ratio Rank
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. YCS - 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 ProShares UltraShort Yen (YCS). 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.

SJNKYCSDifference
Sharpe ratioReturn per unit of total volatility
2.02
1.92

+0.11

Sortino ratioReturn per unit of downside risk
3.09
2.44

+0.65

Omega ratioGain probability vs. loss probability

1.40

1.35

+0.05

Calmar ratioReturn relative to maximum drawdown

3.74

3.97

-0.23

Martin ratioReturn relative to average drawdown

16.21

12.40

+3.81

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. YCS - Sharpe Ratio Comparison

The current SJNK Sharpe Ratio is 2.02, which is comparable to the YCS Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of SJNK and YCS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SJNKYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.02

1.92

+0.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.83

1.12

-0.29

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.85

0.65

+0.20

Sharpe Ratio (All Time)

Calculated using the full available price history

0.80

0.33

+0.46

Drawdowns

SJNK vs. YCS - Drawdown Comparison

The maximum SJNK drawdown since its inception was -19.74%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for SJNK and YCS.

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Drawdown Indicators

SJNKYCSDifference

Max Drawdown

Largest peak-to-trough decline

-19.74%

-49.56%

+29.82%

Max Drawdown (1Y)

Largest decline over 1 year

-1.73%

-8.30%

+6.57%

Max Drawdown (3Y)

Largest decline over 3 years

-4.77%

-23.05%

+18.28%

Max Drawdown (5Y)

Largest decline over 5 years

-10.18%

-27.32%

+17.14%

Max Drawdown (10Y)

Largest decline over 10 years

-19.74%

-27.32%

+7.58%

Current Drawdown

Current decline from peak

-0.19%

0.00%

-0.19%

Average Drawdown

Average peak-to-trough decline

-1.63%

-19.93%

+18.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.40%

2.66%

-2.26%

Volatility

SJNK vs. YCS - Volatility Comparison

The current volatility for SPDR Bloomberg Barclays Short Term High Yield Bond ETF (SJNK) is 0.91%, while ProShares UltraShort Yen (YCS) has a volatility of 2.75%. This indicates that SJNK experiences smaller price fluctuations and is considered to be less risky than YCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SJNKYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.91%

2.75%

-1.84%

Volatility (6M)

Calculated over the trailing 6-month period

2.45%

12.32%

-9.87%

Volatility (1Y)

Calculated over the trailing 1-year period

3.20%

17.27%

-14.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.83%

21.10%

-15.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.49%

19.01%

-12.52%

SJNK vs. YCS - Expense Ratio Comparison

SJNK has a 0.40% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

SJNK vs. YCS - Dividend Comparison

SJNK's dividend yield for the trailing twelve months is around 7.02%, while YCS 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%
YCS
ProShares UltraShort Yen		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 YCS have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

YCS has higher volatility (2.75%) compared to SJNK (0.91%). In terms of maximum drawdown, SJNK dropped -19.74% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.34% vs 5.51% for SJNK. On fees, SJNK is cheaper at 0.40% per year. On volatility, SJNK has been the lower-risk option at 0.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, YCS has performed better with a 12.34% return vs 5.51%. 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 1.00% for YCS.

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

SJNK is categorized as High Yield Bonds, while YCS is Leveraged Currency. SJNK tracks Bloomberg US High Yield 350mn Cash Pay 2% Capped (0-5 Y), while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.40% for SJNK and 1.00% for YCS.

SJNK currently has the higher Sharpe Ratio (2.02 vs 1.92), 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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