ETF Versus

JNK vs USHY

State Street SPDR Bloomberg High Yield Bond ETF vs iShares Broad USD High Yield Corporate Bond ETF

Last updated: 2026-04-02

JNK State Street

State Street SPDR Bloomberg High Yield Bond ETF (JNK) is an exchange-traded fund issued by State Street that provides exposure to below-investment-grade U.S. corporate bonds offering higher yields. It charges an above-average expense ratio of 0.40%. The fund offers a high dividend yield of 6.68%. Launched in 2007, the fund has a 19-year track record.

AUM: $7.0B ER: 0.40% Yield: 6.68% Since: Nov 28, 2007

iShares Broad USD High Yield Corporate Bond ETF (USHY) is an exchange-traded fund that provides exposure to below-investment-grade U.S. corporate bonds offering higher yields. It charges a low expense ratio of 0.08%. The fund offers a high dividend yield of 6.89%. Launched in 2017, the fund has a 9-year track record.

AUM: $24.0B ER: 0.08% Yield: 6.89% Since: Oct 25, 2017

Quick Verdict

USHY is significantly cheaper at 0.08% vs 0.40% expense ratio, saving you approximately $627 per $10,000 invested over 10 years. Both funds have delivered similar 1-year returns (0.5% vs 0.2%), tracking closely.

Key Metrics

Metric JNK USHY
Expense Ratio 0.40% 0.08%
Dividend Yield 6.7% 6.9%
Fund Family State Street N/A
Category US High Yield Bond US High Yield Bond

Performance Chart

Indexed to 100 at start (5-year comparison)

80 85 90 95 100 105 2021-04 2022-06 2023-09 2024-12 2026-04
JNK -12.2%
USHY -10.7%

Performance Comparison

Period JNK USHY Difference
1 Month -1.25% -1.29% +0.04%
3 Months -1.82% -1.84% +0.02%
6 Months -2.05% -2.30% +0.25%
YTD -1.82% -1.84% +0.02%
1 Year +0.47% +0.16% +0.31%
3 Years +3.45% +3.90% -0.45%
5 Years -12.20% -10.74% -1.46%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period JNK Fees USHY Fees You Save
$10.000 10 years $786 $159 $627
$10.000 20 years $3.334 $686 $2.648
$10.000 30 years $10.601 $2.212 $8.388
$50.000 10 years $3.932 $797 $3.135
$50.000 30 years $53.003 $11.061 $41.941
$100.000 30 years $106.005 $22.123 $83.882

Risk Metrics

Based on 5 years of daily returns

Metric JNK USHY
Annualized Volatility 7.7% 7.5%
Max Drawdown -20.6% -19.9%
Sharpe Ratio -0.89 -0.87

Dividend Comparison

Metric JNK USHY
Annual Dividend (per share) $6.38 $2.53
Dividend Yield 6.68% 6.89%
Distribution Frequency Monthly Monthly

Which One Should You Choose?

Choose USHY if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Either works if...

you just need broad us high yield bond exposure. Both are solid options — pick whichever your brokerage offers commission-free.

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