SPSB vs. JNK
Compare and contrast key facts about SPDR Portfolio Short Term Corporate Bond ETF (SPSB) and SPDR Barclays High Yield Bond ETF (JNK).
SPSB and JNK are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPSB is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index. It was launched on Dec 16, 2009. 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 SPSB 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: SPSB or JNK.
Performance
SPSB vs. JNK - Performance Comparison
Returns By Period
In the year-to-date period, SPSB achieves a 4.60% return, which is significantly lower than JNK's 7.55% return. Over the past 10 years, SPSB has underperformed JNK with an annualized return of 2.14%, while JNK has yielded a comparatively higher 3.69% annualized return.
SPSB
4.60%
-0.23%
3.37%
6.67%
2.14%
2.14%
JNK
7.55%
-0.16%
5.43%
12.80%
3.43%
3.69%
Key characteristics
| SPSB | JNK | |
|---|---|---|
| Sharpe Ratio | 3.83 | 2.78 |
| Sortino Ratio | 6.47 | 4.26 |
| Omega Ratio | 1.88 | 1.54 |
| Calmar Ratio | 10.99 | 2.12 |
| Martin Ratio | 29.83 | 21.06 |
| Ulcer Index | 0.23% | 0.62% |
| Daily Std Dev | 1.81% | 4.66% |
| Max Drawdown | -11.75% | -38.48% |
| Current Drawdown | -0.53% | -0.73% |
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SPSB vs. JNK - Expense Ratio Comparison
SPSB has a 0.07% expense ratio, which is lower than JNK's 0.40% expense ratio.
Correlation
The correlation between SPSB and JNK is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Risk-Adjusted Performance
SPSB vs. JNK - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Short Term Corporate Bond ETF (SPSB) 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
SPSB vs. JNK - Dividend Comparison
SPSB's dividend yield for the trailing twelve months is around 4.85%, less than JNK's 6.57% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPSB SPDR Portfolio Short Term Corporate Bond ETF | 4.85% | 4.05% | 1.92% | 1.20% | 1.94% | 2.77% | 2.36% | 1.94% | 1.65% | 1.44% | 1.26% | 1.41% |
JNK SPDR Barclays High Yield Bond ETF | 6.57% | 6.38% | 6.06% | 4.26% | 5.11% | 5.44% | 5.90% | 5.60% | 6.06% | 6.60% | 5.99% | 6.05% |
Drawdowns
SPSB vs. JNK - Drawdown Comparison
The maximum SPSB drawdown since its inception was -11.75%, smaller than the maximum JNK drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for SPSB and JNK. For additional features, visit the drawdowns tool.
Volatility
SPSB vs. JNK - Volatility Comparison
The current volatility for SPDR Portfolio Short Term Corporate Bond ETF (SPSB) is 0.38%, while SPDR Barclays High Yield Bond ETF (JNK) has a volatility of 1.20%. This indicates that SPSB 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.