SJNK vs SPY
SJNK vs SPY
State Street SPDR Bloomberg Short Term High Yield Bond ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SJNK offers more diversification with 1058 holdings.
Side-by-Side Comparison
| Metric | SJNK | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.40% | 0.09% | |
| AUM | $4.9B | $789.1B | |
| Dividend Yield | 7.00% | 1.01% | |
| Holdings | 1,172 | 505 | |
| YTD Return | +1.44% | +13.10% | |
| 1Y Return | +4.18% | +22.80% | |
| 3Y Return (annualized) | +7.62% | +20.98% | |
| 5Y Return (annualized) | +4.76% | +13.20% | |
| Volatility (annualized) | 5.7% | 15.3% | |
| Max Drawdown | -30.6% | -56.5% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Mar 14, 2012 | Jan 22, 1993 |
SJNK vs SPY Performance
State Street SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) is a ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SJNK returned +4.18% while SPY returned +22.80%. Year to date, SJNK is up 1.44% versus a gain of 13.10% for SPY.
Over three years, SJNK compounded at +7.62% per year against +20.98% for SPY; over five years the annualized figures are +4.76% and +13.20% respectively. Across the full 14-year window we track, SPY has the edge at +8.83% annualized vs +1.07%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 5.7% for SJNK. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -30.6% for SJNK and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SJNK charges 0.40% per year while SPY charges 0.09%. On a $10,000 position that is $40 vs $9 annually, a gap of $31 per year that compounds over a long holding period. On income, SJNK currently yields 7.00% against 1.01% for SPY.
Holdings Overlap
SJNK and SPY share 0 holdings out of 1561 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SJNK or SPY?
SJNK has an expense ratio of 0.40% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $31 per year of difference.
Which performed better, SJNK or SPY?
Over the past year SJNK returned +4.18% vs +22.80% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (14 years), SJNK annualized +1.07% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, SJNK or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 5.7% for SJNK. Worst drawdown: SJNK -30.6% vs SPY -56.5%.
Should I hold both SJNK and SPY?
SJNK and SPY have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SJNK and SPY?
SJNK and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1561 unique securities.
Which pays a higher dividend, SJNK or SPY?
SJNK yields 7.00% while SPY yields 1.01%, so SJNK currently pays the higher dividend yield.
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