A head-to-head of State Street SPDR Bloomberg High Yield Bond and iShares iBoxx High Yield Corporate Bond covering index and cost.
Data updated September 22, 2026
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings.
HYG has lagged JNK over the trailing twelve months, posting a 2.63% total return against 3.01%. The lead holds up over 10 years too: JNK has compounded at 4.49% a year, against 4.44% for HYG. Figures are total returns: price change plus every distribution reinvested.
Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 22, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Dec 2007” measures every fund from December 4, 2007 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
Bottom lineHYG and JNK are nearly interchangeable — both offer very similar exposure with very similar cost and risk. The clearest tie-breaker is cost: JNK is cheaper at 0.40% vs 0.49%.
Two US high-yield corporate bond books
Both hold US high-yield corporates. Index construction and cost decide whether a second junk-bond fund adds anything.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.
See our curated list of related YouTube videos on HYG.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.
See our curated list of related YouTube videos on JNK.
HYG (iShares iBoxx $ High Yield Corporate Bond ETF) and JNK (State Street SPDR Bloomberg High Yield Bond ETF) are both monthly-pay dividend ETFs, but they take different approaches.
JNK offers the higher yield at 6.74% vs 6.64% for HYG. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
JNK is cheaper with an expense ratio of 0.40% compared to 0.49%.
HYG is the larger fund by assets ($15.0B), but assets alone do not establish trading costs or liquidity.
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On a $10,000 investment, HYG would generate roughly $55.33 cash per distribution, while JNK would produce $56.17 cash per distribution, at current distribution rates. Both pay monthly distributions.
HYG yield6.64%
JNK yield6.74%
Cash diff on $10K$0.83
Cost & efficiency
Over 10 years on $10,000, HYG would cost approximately $490 in fees vs $400 for JNK (simplified, not compounded). The $90.00 difference may be offset by yield or performance.
HYG ER0.49%
JNK ER0.40%
Strategy & risk
HYG tracks Markit iBoxx USD Liquid High Yield Index, while JNK is an ETF built around high yield bond exposure.
HYG beta0.67
JNK beta0.67
Fund details
HYG is managed by iShares (launched 04/04/2007) with $15.0B in assets. JNK is managed by State Street (launched 11/28/2007) with $6.79B in assets.
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Frequently asked questions
What is the difference between HYG and JNK?
HYG (iShares iBoxx $ High Yield Corporate Bond ETF) and JNK (State Street SPDR Bloomberg High Yield Bond ETF) both hold US high-yield corporates. Index and cost decide whether a second junk-bond fund adds anything. Cost is 0.49% versus 0.40%; size is $15.0B versus $6.79B. Distributions are 6.64% and 6.74% as of September 2026.
What is the current distribution rate for HYG and JNK?
HYG currently distributes 6.64% and JNK 6.74%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is HYG or JNK better for dividend income?
It depends on your goals. JNK currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
Can I hold both HYG and JNK?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Is HYG or JNK safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: HYG scores 100, JNK scores 100. Neither has a clear safety edge on that measure. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.
Which has lower fees, HYG or JNK?
HYG has an expense ratio of 0.49% while JNK charges 0.40%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in HYG vs JNK generate?
At current rates, $10,000 in HYG would generate roughly $55.33 cash per distribution ($664.00 annually). The same in JNK would produce about $56.17 cash per distribution ($674.00 annually).
Which has performed better historically, HYG or JNK?
HYG has lagged JNK over the trailing twelve months, posting a 2.63% total return against 3.01%. The lead holds up over 10 years too: JNK has compounded at 4.49% a year, against 4.44% for HYG. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
HYG and JNK are both high-yield corporate bond ETFs offering monthly distributions around 6.7%, but they differ in size, cost, and underlying index construction. Distribution yields are nearly identical: 6.64% for HYG and 6.74% for JNK, suggesting comparable underlying credit exposure. Both track different indexes (Markit iBoxx versus Bloomberg), which may produce modest differences in sector or credit-quality mix, though the high-yield universe itself is relatively concentrated. Both carry identical beta of 0.67, reflecting the systematic risk profile of investment-grade-adjacent junk bonds. The larger fund size often benefits frequent traders or those making large positions. The 0.40% expense ratio compounds meaningfully over decades.
Key risks to know
Credit spread risk. Both funds are heavily exposed to high-yield bond spreads, which widen sharply during credit stress or recession, causing NAV declines of 10–20% or more in downturns. Neither the Markit nor Bloomberg index screens for credit quality; both hold bonds rated below investment grade.
Interest rate sensitivity. With a beta of 0.67 and 0.67, both funds retain meaningful duration risk. Rising rates will compress bond prices and distributions, though the correlation is lower than investment-grade bonds due to high-yield spreads' dominance.
Index composition differences. The Markit iBoxx (HYG) and Bloomberg (JNK) high-yield indexes apply different liquidity and sizing rules, which can result in divergent sector or issuer weightings. Holdings overlap may be substantial but is not guaranteed, creating tracking drift risk specific to each fund's construction methodology.
Distribution sustainability during stress. At a 6.65–6.74% yield, both funds are distributing most or all underlying credit coupon income. If credit defaults accelerate or refinancing becomes impossible for weaker issuers, distributions could contract despite stable NAV—a risk that materializes over credit cycles, not immediately. If you're building a core high-yield position and plan to hold for years, JNK's 0.40% expense ratio saves material basis points. Both carry the same credit and rate risk; the choice hinges on fee sensitivity and trading activity. Past performance doesn't guarantee future results, and high-yield spreads can move sharply in response to economic data.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
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