HYG vs JNK: The Two Giants of High-Yield Bond ETFs
Both HYG and JNK invest in "junk bonds" — corporate debt from companies with below-investment-grade credit ratings. High yield, higher risk. Here's how they compare.
HYG (iShares iBoxx $ High Yield Corporate Bond ETF) and JNK (SPDR Bloomberg High Yield Bond ETF) are both high-yield corporate bond funds — what the industry calls "junk bonds." These bonds offer higher yields because the issuing companies have below-investment-grade credit ratings and a higher chance of default. HYG holds about 1,200 bonds at 0.48%; JNK holds about 900 bonds at 0.40%. JNK's lower expense ratio gives it a small structural advantage. Both ETFs have similar credit quality (BB/B rated), similar duration (around 3-4 years), and will sell off sharply during recessions when default rates rise. Neither is appropriate as a core bond holding — they behave more like equities during stress events.
Whether the lower-cost fund suits your situation depends on your existing holdings, account type, tax situation, and how you use each fund. This is a cost comparison, not a personalized recommendation.
Both funds trade commission-free at every major brokerage. Where to buy them →
📋 HYG vs JNK: Key Facts Side by Side
| Metric | HYG | JNK |
|---|---|---|
| Fund Name | iShares iBoxx $ High Yield Corporate Bond ETF | State Street SPDR Bloomberg High Yield Bond ETF |
| Issuer | iShares | State Street |
| Tracks Index | iBoxx USD Liquid High Yield | Bloomberg High Yield Very Liquid |
| Expense Ratio | 0.48% | 0.40% ✓ |
| Cost per $10K/yr | $48.00 | $40.00 |
| AUM | $16.8B | $6.5B |
| Holdings | 1,200 | 900 |
| Inception | 2007 | 2007 |
| 1-Year Return | -4.34% | -4.53% |
| 3-Year Return | +8.22% | +8.30% |
| 5-Year Return | +3.41% | +3.32% |
| Dividend Yield | 6.14% | 6.83% |
| Holdings Overlap | See holdings overlap → | |
| Avg Bid-Ask Spread | 0.01% | 0.02% |
AUM and returns updated Oct 14, 2026 from ETF BFF database; expense ratios verified against issuer filings. Returns are annualised. Not investment advice.
Comparing two ETFs? Grab the free checklist.
The seven things that actually decide a comparison: the index, fee, overlap, tax, liquidity, concentration, and structure. One printable page.
No spam · Unsubscribe anytime · Your download opens instantly
Your download is ready above. We also emailed a confirmation link, click it to get The Expense Report, our weekly ETF newsletter.
📊 HYG vs JNK: Annualised Returns
Annualised returns (trailing, price-based). Past performance does not guarantee future results.
🎯 Which Fund Fits Which Investor?
- want income and stability with lower portfolio volatility
- already use iShares and prefer staying within one fund family
- want the lowest fees: saves ~$8/yr per $10K vs HYG
- want income and stability with lower portfolio volatility
💰 What the Fee Difference Actually Costs
Adjust the numbers for your situation. This models each fund's expense ratio compounding against your balance over time.
Assumes a constant annual return reinvested, with each fund's expense ratio deducted yearly. Illustrative only; actual returns vary. Past performance does not guarantee future results.
⚙️ Want the Full Interactive Comparison?
Side-by-side holdings overlap, sector breakdown, and live performance tabs, all in one place.
Run Full HYG vs JNK Comparison → Free · No signup · Instant results❓ HYG vs JNK: Frequently Asked Questions
New to ETF investing? See answers to the most common ETF questions →