SSTHX vs. SJNK

Last updated Jun 24, 2026

SSTHX (Allspring Short-Term High Yield Bond Fund) and SJNK (SPDR Bloomberg Short Term High Yield Bond ETF) are both High Yield Bonds funds. Over the past 10 years, SSTHX returned 3.87%/yr vs 5.55%/yr for SJNK. At a 0.50 correlation, their price movements are largely independent. SSTHX charges 0.94%/yr vs 0.40%/yr for SJNK.

Performance

SSTHX vs. SJNK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Short-Term High Yield Bond Fund (SSTHX) and SPDR Bloomberg Short Term High Yield Bond ETF (SJNK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSTHX achieves a 1.25% return, which is significantly lower than SJNK's 1.65% return. Over the past 10 years, SSTHX has underperformed SJNK with an annualized return of 3.87%, while SJNK has yielded a comparatively higher 5.55% annualized return.

SSTHX

• 1D: -0.13%
• 1M: 0.45%
• YTD: 1.25%
• 6M: 1.85%
• 1Y: 5.26%
• 3Y*: 6.11%
• 5Y*: 3.96%
• 10Y*: 3.87%

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SSTHX vs. SJNK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSTHX Allspring Short-Term High Yield Bond Fund	1.25%	6.48%	6.28%	6.86%	-2.32%	3.16%	5.44%	6.64%	0.59%	2.21%
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%

Correlation

The correlation between SSTHX and SJNK is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Mar 15, 2012	0.50

The correlation between SSTHX and SJNK has been stable across timeframes, ranging from 0.50 to 0.57 - a consistent structural relationship.

Return for Risk

SSTHX vs. SJNK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SSTHX

SSTHX Risk / Return Rank: 88
SSTHX Sharpe Ratio Rank: 74
SSTHX Sortino Ratio Rank: 94
SSTHX Omega Ratio Rank: 91
SSTHX Calmar Ratio Rank: 85
SSTHX Martin Ratio Rank: 95

SJNK

SJNK Risk / Return Rank: 66
SJNK Sharpe Ratio Rank: 56
SJNK Sortino Ratio Rank: 63
SJNK Omega Ratio Rank: 61
SJNK Calmar Ratio Rank: 71
SJNK Martin Ratio Rank: 79

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.

SSTHX vs. SJNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Short-Term High Yield Bond Fund (SSTHX) and SPDR Bloomberg Short Term High Yield Bond ETF (SJNK). 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.

	SSTHX	SJNK	Difference
Sharpe ratio: Return per unit of total volatility	2.31	1.83	+0.48
Sortino ratio: Return per unit of downside risk	4.58	2.80	+1.78
Omega ratio: Gain probability vs. loss probability	1.63	1.36	+0.27
Calmar ratio: Return relative to maximum drawdown	3.79	3.43	+0.37
Martin ratio: Return relative to average drawdown	19.95	14.73	+5.22

SSTHX vs. SJNK - Sharpe Ratio Comparison

The current SSTHX Sharpe Ratio is 2.31, which is comparable to the SJNK Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of SSTHX and SJNK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SSTHX vs. SJNK - Drawdown Comparison

The maximum SSTHX drawdown since its inception was -14.24%, smaller than the maximum SJNK drawdown of -19.74%. Use the drawdown chart below to compare losses from any high point for SSTHX and SJNK.

Drawdown Indicators

	SSTHX	SJNK	Difference
Max Drawdown Largest peak-to-trough decline	-14.24%	-19.74%	+5.50%
Max Drawdown (1Y) Largest decline over 1 year	-1.39%	-1.73%	+0.34%
Max Drawdown (3Y) Largest decline over 3 years	-2.05%	-4.77%	+2.72%
Max Drawdown (5Y) Largest decline over 5 years	-6.05%	-10.18%	+4.13%
Max Drawdown (10Y) Largest decline over 10 years	-14.24%	-19.74%	+5.50%
Current Drawdown Current decline from peak	-0.25%	-0.16%	-0.09%
Average Drawdown Average peak-to-trough decline	-0.93%	-1.63%	+0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	0.40%	-0.14%

Volatility

SSTHX vs. SJNK - Volatility Comparison

The current volatility for Allspring Short-Term High Yield Bond Fund (SSTHX) is 0.58%, while SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) has a volatility of 0.87%. This indicates that SSTHX experiences smaller price fluctuations and is considered to be less risky than SJNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSTHX	SJNK	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.58%	0.87%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	1.80%	2.52%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	2.30%	3.24%	-0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.12%	5.84%	-2.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.54%	6.47%	-2.93%

SSTHX vs. SJNK - Expense Ratio Comparison

SSTHX has a 0.94% expense ratio, which is higher than SJNK's 0.40% expense ratio.

Dividends

SSTHX vs. SJNK - Dividend Comparison

SSTHX's dividend yield for the trailing twelve months is around 5.53%, less than SJNK's 7.00% yield.

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%
SSTHX Allspring Short-Term High Yield Bond Fund	5.53%	5.61%	5.81%	5.04%	3.85%	3.35%	3.34%	3.27%	3.16%	2.81%	2.93%	2.76%

Frequently Asked Questions

Can I hold both SSTHX and SJNK in my portfolio?

SSTHX and SJNK have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSTHX or SJNK?

SJNK has higher volatility (0.87%) compared to SSTHX (0.58%). In terms of maximum drawdown, SSTHX dropped -14.24% vs SJNK's -19.74%.

Which has better risk-adjusted returns?

SSTHX currently has the higher Sharpe Ratio (2.31 vs 1.83), 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.