SPDR Barclays High Yield Bond ETF (JNK): Historical Returns

Data Source: from January 1979 to March 2024 (~45 years)
Consolidated Returns as of 31 March 2024
Live Update: Apr 17 2024
Category: Fixed Income
SPDR Barclays High Yield Bond ETF (JNK) ETF
ETF • LIVE PERFORMANCE (USD currency)
0.13%
1 Day
Apr 17 2024
2.11%
Current Month
April 2024

In the last 30 Years, the SPDR Barclays High Yield Bond ETF (JNK) ETF obtained a 5.50% compound annual return, with a 9.43% standard deviation.

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The ETF is related to the following investment themes:

  • Asset Class: Bond
  • Region: North America
  • Country: U.S.
  • Bond - Duration: Intermediate-Term

The SPDR Barclays High Yield Bond ETF (JNK) ETF is part of the following Lazy Portfolios:

Portfolio Name Author JNK Weight▾ Currency
High Yield Bonds Income 25.00% USD

Investment Returns as of Mar 31, 2024

The SPDR Barclays High Yield Bond ETF (JNK) ETF guaranteed the following returns.

Returns are calculated in USD, assuming:
  • no fees or capital gain taxes.
  • the reinvestment of dividends.
  • the actual US Inflation rates.
SPDR BARCLAYS HIGH YIELD BOND ETF (JNK) ETF
Consolidated returns as of 31 March 2024
Live Update: Apr 17 2024
Swipe left to see all data
  Chg (%) Return (%) Return (%) as of Mar 31, 2024
  1 Day Time ET(*) Apr 2024 1M 6M 1Y 5Y 10Y 30Y MAX
(~45Y)
SPDR Barclays High Yield Bond ETF (JNK) ETF 0.13 -2.11 1.18 8.91 9.59 3.07 3.09 5.50 7.40
US Inflation Adjusted return 0.80 7.18 5.91 -1.08 0.25 2.88 3.84
Returns over 1 year are annualized | Available data source: since Jan 1979
(*) Eastern Time (ET - America/New York)
US Inflation is updated to Mar 2024. Current inflation (annualized) is 1Y: 3.48% , 5Y: 4.19% , 10Y: 2.84% , 30Y: 2.54%
Live update: World Markets and Indexes

In 2023, the SPDR Barclays High Yield Bond ETF (JNK) ETF granted a 6.92% dividend yield. If you are interested in getting periodic income, please refer to the SPDR Barclays High Yield Bond ETF (JNK) ETF: Dividend Yield page.

Capital Growth as of Mar 31, 2024

An investment of 1$, since April 1994, now would be worth 4.98$, with a total return of 398.05% (5.50% annualized).

The Inflation Adjusted Capital now would be 2.35$, with a net total return of 134.65% (2.88% annualized).
An investment of 1$, since January 1979, now would be worth 25.29$, with a total return of 2429.17% (7.40% annualized).

The Inflation Adjusted Capital now would be 5.50$, with a net total return of 450.01% (3.84% annualized).
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Investment Metrics as of Mar 31, 2024

Metrics of SPDR Barclays High Yield Bond ETF (JNK) ETF, updated as of 31 March 2024.

Metrics are calculated based on monthly returns, assuming:
  • no fees or capital gain taxes.
  • the reinvestment of dividends.
  • the actual US Inflation rates.
SPDR BARCLAYS HIGH YIELD BOND ETF (JNK) ETF
Advanced Metrics
Data Source: 1 January 1979 - 31 March 2024 (~45 years)
Swipe left to see all data
Metrics as of Mar 31, 2024
1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
(~45Y)
Investment Return (%) 1.18 1.63 8.91 9.59 1.21 3.07 3.09 4.69 5.50 7.40
Infl. Adjusted Return (%) details 0.80 0.49 7.18 5.91 -4.19 -1.08 0.25 2.04 2.88 3.84
US Inflation (%) 0.38 1.13 1.61 3.48 5.63 4.19 2.84 2.59 2.54 3.43
Returns / Inflation rates over 1 year are annualized.
DRAWDOWN
Inflation Adjusted:
Inflation Adjusted:
 1Y 3Y 5Y 10Y 20Y 30Y MAX
Deepest Drawdown Depth (%) -2.74 -16.20 -16.20 -16.20 -36.98 -36.98 -36.98
Start to Recovery (# months) details 3 27 27 27 31 31 31
Start (yyyy mm) 2023 09 2022 01 2022 01 2022 01 2007 06 2007 06 2007 06
Start to Bottom (# months) 2 9 9 9 18 18 18
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2008 11 2008 11 2008 11
Bottom to End (# months) 1 18 18 18 13 13 13
End (yyyy mm) 2023 11 2024 03 2024 03 2024 03 2009 12 2009 12 2009 12
Longest Drawdown Depth (%)
same as
deepest
same as
deepest
same as
deepest
same as
deepest
same as
deepest
same as
deepest
same as
deepest
Start to Recovery (# months) details
Start (yyyy mm) 2023 09 2022 01 2022 01 2022 01 2007 06 2007 06 2007 06
Start to Bottom (# months) 2 9 9 9 18 18 18
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2008 11 2008 11 2008 11
Bottom to End (# months) 1 18 18 18 13 13 13
End (yyyy mm) 2023 11 2024 03 2024 03 2024 03 2009 12 2009 12 2009 12
Longest negative period (# months) details 7 32 46 48 61 125 125
Period Start (yyyy mm) 2023 04 2021 04 2020 01 2018 10 2004 04 1998 07 1998 07
Period End (yyyy mm) 2023 10 2023 11 2023 10 2022 09 2009 04 2008 11 2008 11
Annualized Return (%) -0.77 -0.49 -0.15 -0.04 -0.62 -0.03 -0.03
Deepest Drawdown Depth (%) -3.42 -22.61 -22.96 -22.96 -38.87 -38.87 -38.87
Start to Recovery (# months) details 4 35* 39* 39* 34 34 34
Start (yyyy mm) 2023 08 2021 05 2021 01 2021 01 2007 06 2007 06 2007 06
Start to Bottom (# months) 3 17 21 21 18 18 18
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2008 11 2008 11 2008 11
Bottom to End (# months) 1 18 18 18 16 16 16
End (yyyy mm) 2023 11 - - - 2010 03 2010 03 2010 03
Longest Drawdown Depth (%)
same as
deepest
same as
deepest
same as
deepest
same as
deepest		 -22.96 -10.57 -10.57
Start to Recovery (# months) details 39* 48 48
Start (yyyy mm) 2023 08 2021 05 2021 01 2021 01 2021 01 1999 05 1999 05
Start to Bottom (# months) 3 17 21 21 21 39 39
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2022 09 2002 07 2002 07
Bottom to End (# months) 1 18 18 18 18 9 9
End (yyyy mm) 2023 11 - - - - 2003 04 2003 04
Longest negative period (# months) details 7 36* 60* 116 127 162 162
Period Start (yyyy mm) 2023 04 2021 04 2019 04 2014 04 2013 04 1995 06 1995 06
Period End (yyyy mm) 2023 10 2024 03 2024 03 2023 11 2023 10 2008 11 2008 11
Annualized Return (%) -3.95 -4.19 -1.08 -0.11 -0.07 -0.12 -0.12
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
1Y 3Y 5Y 10Y 20Y 30Y MAX
Standard Deviation (%) 6.29 9.58 10.02 8.20 10.88 9.43 8.95
Sharpe Ratio 0.70 -0.14 0.12 0.23 0.31 0.34 0.38
Sortino Ratio 1.13 -0.19 0.16 0.30 0.42 0.46 0.52
Ulcer Index 0.96 7.51 6.25 5.20 6.82 5.68 4.99
Ratio: Return / Standard Deviation 1.53 0.13 0.31 0.38 0.43 0.58 0.83
Ratio: Return / Deepest Drawdown 3.50 0.07 0.19 0.19 0.13 0.15 0.20
% Positive Months details 75% 58% 61% 62% 65% 68% 70%
Positive Months 9 21 37 75 156 245 384
Negative Months 3 15 23 45 84 115 159
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
 1Y 3Y 5Y 10Y 20Y 30Y MAX
Best 10 Years Return (%) - Annualized 3.09 10.20 10.20 13.36
Worst 10 Years Return (%) - Annualized 2.41 -0.13 -0.13
Best 10 Years Return (%) - Annualized 0.25 8.29 8.29 9.07
Worst 10 Years Return (%) - Annualized -0.25 -2.70 -2.70
ROLLING PERIODS
Inflation Adjusted:
Inflation Adjusted:
 1Y 3Y 5Y 10Y 20Y 30Y MAX
Over the latest 30Y
Best Rolling Return (%) - Annualized 56.90 25.11 18.09 10.20 6.89 5.50
Worst Rolling Return (%) - Annualized -35.38 -10.50 -4.16 -0.13 4.45
% Positive Periods 80% 92% 97% 99% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 81.30 28.78 18.80 10.24 5.99 5.57
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - 1.98 3.20
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 53.59 22.19 15.90 8.29 4.40 2.88
Worst Rolling Return (%) - Annualized -36.08 -12.66 -6.84 -2.70 1.83
% Positive Periods 69% 75% 85% 95% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 81.30 28.78 18.80 10.24 5.99 5.57
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - 1.98 3.20
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Over all the available data source (Jan 1979 - Mar 2024)
Best Rolling Return (%) - Annualized 56.90 25.11 19.83 13.36 11.01 9.14
Worst Rolling Return (%) - Annualized -35.38 -10.50 -4.16 -0.13 4.45 5.08
% Positive Periods 82% 95% 98% 99% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 81.30 28.78 18.53 10.24 5.99 5.23
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - 1.98 2.78
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 53.59 22.19 15.90 9.07 7.16 5.96
Worst Rolling Return (%) - Annualized -36.08 -12.66 -6.84 -2.70 1.78 2.49
% Positive Periods 68% 80% 90% 97% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 81.30 28.78 18.53 10.24 5.99 5.23
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - 1.98 2.78
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the portfolio.
  • Deepest/Longest Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. The deepest (or maximum) drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained. The longest drawdown is the period observed from a peak to the subsequent peak with the greatest duration.
  • Longest negative period: it's the maximum period for which an overall negative return has been observed.
  • Standard Deviation: it's a measure of the dispersion of returns around the mean.
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the portfolio. It's calculated by dividing the excess return of the portfolio over the risk-free rate by the portfolio standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the portfolio. It's a modification of the Sharpe Ratio (same formula but the denominator is the portfolio downside standard deviation).
  • Ulcer Index: it's a measure of downside risk that quantifies the depth and duration of drawdowns in an investment portfolio.
  • Best/Worst 10Y returns: the best and the worst 10-year return over a time frame.
  • Rolling Returns: N-year returns over a time frame, calculated over all the available data source (best, worst, % of positive returns). Each rolling period, longer than the longest negative period, yielded a non-negative minimum return.
  • Safe Withdrawal Rate (SWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, without the portfolio running out of money in any case (money amount withdrawal).
    For instance: Your initial invested capital is 100.000$; withdrawal rate (annualized) is 4%. This means that, in the first month, you will withdraw 100.000 * 4% * 1/12 = 333.33$. The second month, you’ll withdraw 333.33$ plus the inflation monthly rate. You’ll continue adjusting your withdraw monthly for inflation.
  • Perpetual Withdrawal Rate (PWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, preserving the original invested capital, adjusted for inflation too.

Correlations as of Mar 31, 2024

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1. If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.
Asset correlations are calculated based on monthly returns.

Monthly correlations of SPDR Barclays High Yield Bond ETF (JNK) ETF vs the main Asset Classes, over different timeframes. Columns are sortable (click on table header to sort).

SPDR BARCLAYS HIGH YIELD BOND ETF (JNK) ETF
Monthly correlations as of 31 March 2024
Swipe left to see all data
Correlation vs JNK
Asset Class 1 Year 5 Years 10 Years 30 Years Since
Jan 1992
VTI
 US Total Stock Market
0.87
0.86
0.82
0.70
0.69
SPY
 US Large Cap
0.85
0.85
0.81
0.68
0.68
IJR
 US Small Cap
0.86
0.82
0.76
0.67
0.66
VNQ
 US REITs
0.95
0.79
0.68
0.71
0.70
QQQ
 US Technology
0.68
0.76
0.71
0.52
0.51
PFF
 Preferred Stocks
0.87
0.84
0.78
0.64
0.63
EFA
 EAFE Stocks
0.89
0.83
0.81
0.71
0.68
VT
 World All Countries
0.89
0.88
0.85
0.73
0.72
EEM
 Emerging Markets
0.75
0.73
0.70
0.63
0.61
VGK
 Europe
0.89
0.83
0.79
0.71
0.70
VPL
 Pacific
0.86
0.81
0.76
0.60
0.56
FLLA
 Latin America
0.81
0.73
0.67
0.59
0.58
BND
 US Total Bond Market
0.92
0.65
0.55
0.38
0.40
TLT
 Long Term Treasuries
0.93
0.27
0.19
0.04
0.06
BIL
 US Cash
0.41
0.01
0.02
0.00
0.00
TIP
 TIPS
0.91
0.70
0.62
0.42
0.43
LQD
 Invest. Grade Bonds
0.95
0.80
0.73
0.59
0.60
HYG
 High Yield Bonds
1.00
1.00
1.00
0.98
0.98
CWB
 US Convertible Bonds
0.83
0.77
0.77
0.74
0.73
BNDX
 International Bonds
0.86
0.71
0.58
0.38
0.39
EMB
 Emerg. Market Bonds
0.95
0.87
0.82
0.65
0.65
GLD
 Gold
0.21
0.32
0.27
0.18
0.17
DBC
 Commodities
0.06
0.44
0.48
0.37
0.36

If you want to learn more about historical correlations, you can find out here how the main asset class are correlated to each other.

Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

SPDR BARCLAYS HIGH YIELD BOND ETF (JNK) ETF
Drawdown periods
Drawdown periods - Inflation Adjusted
Data Source: 1 April 1994 - 31 March 2024 (30 Years)
Data Source: 1 January 1979 - 31 March 2024 (~45 years)
Inflation Adjusted:
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Rolling Returns

( more details)

A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.

SPDR BARCLAYS HIGH YIELD BOND ETF (JNK) ETF
Annualized Rolling Returns
Annualized Rolling Returns - Inflation Adjusted
Data Source: 1 April 1994 - 31 March 2024 (30 Years)
Data Source: 1 January 1979 - 31 March 2024 (~45 years)
Inflation Adjusted:

If you need a deeper detail about rolling returns, please refer to the SPDR Barclays High Yield Bond ETF (JNK) ETF: Rolling Returns page.

Seasonality

In which months is it better to invest in SPDR Barclays High Yield Bond ETF (JNK) ETF?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.
For further information about the seasonality, check the Asset Class Seasonality page.
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Monthly Returns

This section provides a visual/tabular representation of the performance variability in the SPDR Barclays High Yield Bond ETF (JNK) ETF over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

SPDR BARCLAYS HIGH YIELD BOND ETF (JNK) ETF
Monthly Returns Distribution
Data Source: 1 April 1994 - 31 March 2024 (30 Years)
Data Source: 1 January 1979 - 31 March 2024 (~45 years)
245 Positive Months (68%) - 115 Negative Months (32%)
384 Positive Months (71%) - 159 Negative Months (29%)
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(Scroll down to see all data)
Investment Returns, up to December 2007, have been derived using the historical series of equivalent ETFs / Assets.
You can find additional information on extended Data Sources here.

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