SPHY vs. JNK
Compare and contrast key facts about SPDR Portfolio High Yield Bond ETF (SPHY) and SPDR Barclays High Yield Bond ETF (JNK).
SPHY and JNK are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPHY is a passively managed fund by State Street that tracks the performance of the ICE BofAML US High Yield Index. It was launched on Jun 18, 2012. JNK is a passively managed fund by State Street that tracks the performance of the Barclays Capital High Yield Very Liquid Index. It was launched on Nov 28, 2007. Both SPHY and JNK 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: SPHY or JNK.
Key characteristics
| SPHY | JNK | |
|---|---|---|
| YTD Return | 2.29% | 2.01% |
| 1Y Return | 11.68% | 11.13% |
| 3Y Return (Ann) | 2.25% | 1.21% |
| 5Y Return (Ann) | 4.30% | 3.06% |
| 10Y Return (Ann) | 4.11% | 3.00% |
| Sharpe Ratio | 2.02 | 1.83 |
| Daily Std Dev | 5.79% | 6.11% |
| Max Drawdown | -21.97% | -38.48% |
| Current Drawdown | -0.17% | -0.21% |
Correlation
The correlation between SPHY and JNK is 0.56, 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
SPHY vs. JNK - Performance Comparison
In the year-to-date period, SPHY achieves a 2.29% return, which is significantly higher than JNK's 2.01% return. Over the past 10 years, SPHY has outperformed JNK with an annualized return of 4.11%, while JNK has yielded a comparatively lower 3.00% 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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SPHY vs. JNK - Expense Ratio Comparison
SPHY has a 0.10% expense ratio, which is lower than JNK's 0.40% expense ratio.
Risk-Adjusted Performance
SPHY vs. JNK - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio High Yield Bond ETF (SPHY) and SPDR Barclays High Yield Bond ETF (JNK). 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
SPHY vs. JNK - Dividend Comparison
SPHY's dividend yield for the trailing twelve months is around 7.71%, more than JNK's 6.57% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPHY SPDR Portfolio High Yield Bond ETF | 7.71% | 7.30% | 6.47% | 5.14% | 5.63% | 5.73% | 4.09% | 4.41% | 4.27% | 4.29% | 3.98% | 4.41% |
JNK SPDR Barclays High Yield Bond ETF | 6.57% | 6.38% | 6.06% | 4.27% | 5.11% | 5.44% | 5.90% | 5.60% | 6.06% | 6.59% | 5.99% | 6.05% |
Drawdowns
SPHY vs. JNK - Drawdown Comparison
The maximum SPHY drawdown since its inception was -21.97%, smaller than the maximum JNK drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for SPHY and JNK. For additional features, visit the drawdowns tool.
Volatility
SPHY vs. JNK - Volatility Comparison
The current volatility for SPDR Portfolio High Yield Bond ETF (SPHY) is 1.30%, while SPDR Barclays High Yield Bond ETF (JNK) has a volatility of 1.49%. This indicates that SPHY experiences smaller price fluctuations and is considered to be less risky than JNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.