JNK vs JPHY: Differences, Returns & Fees
JNK's duration was 3.4 years on Jun 30, 2026 and JPHY's 2.6 on May 31, 2026; JNK charges 0.40% to JPHY's 0.45%. Net assets on Oct 20, 2026: $5.5bn for State Street SPDR Bloomberg High Yield Bond ETF and $2.2bn for JPMorgan Active High Yield ETF.
JNK costs 0.05 points a year less; their one-year returns differ by 1.0 point; JNK is 2.5 times larger.
| JNK | JPHY | |
|---|---|---|
| Expense ratio | 0.40% | 0.45% |
| Net assets | $5.5bn | $2.2bn |
| Total return, 1 year | +1.1% | +2.1% |
| What it tracks | Bloomberg High Yield Very Liquid Index | No index, actively managed |
| Holdings in common | 28% | |
| Below its high | 3.0%, high on Aug 25, 2026 | |
Holdings in common uses holdings dated May 31, 2026 and Jun 30, 2026.
JNK and JPHY are built for the same job. How do they differ in cost, holdings and results?
- What each follows. JNK follows Bloomberg High Yield Very Liquid Index and JPHY follows No index, actively managed.
- Holdings in common. 28% of the weight is in the same securities (holdings dated Jun 30, 2026 and May 31, 2026).
- One-year total return (similar). Over 1 year to Oct 20, 2026 JNK returned +1.1% and JPHY +2.1% with distributions reinvested, a gap of 1.0 points.
Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.
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What they hold in common
By the books each fund has filed, JNK and JPHY hold 28% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jun 30, 2026.
half
28% in common
On the same fields
JNK and JPHY on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About JNK
JNK tracks the Bloomberg High Yield Bond. Over the year to Oct 20, 2026 it returned +1.1% with distributions reinvested, against −1.9% for its benchmark, the Bloomberg U.S. Aggregate Bond Index. The prospectus expense ratio is 0.40% a year. It sat 3.0% below its high of Aug 25, 2026 on Oct 20, 2026.
About JPHY
JPHY is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned +2.1% with distributions reinvested, against +1.2% for its benchmark, the ICE BofA US High Yield Constrained Index. The prospectus expense ratio is 0.45% a year.
Questions people ask
- Which returned more over the last year, JNK or JPHY?
- In the year to Oct 20, 2026, with distributions reinvested, JNK returned +1.1% and JPHY +2.1%.
- Which is cheaper, JNK or JPHY?
- JNK is cheaper, by 0.05 percentage points a year. That is about $5 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, JNK against JPHY, data as of Oct 20, 2026. https://etfiq.com/compare/any/jnk-vs-jphy
ETFIQ. (Oct 20, 2026). JNK against JPHY. Retrieved from https://etfiq.com/compare/any/jnk-vs-jphy
[JNK against JPHY (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/jnk-vs-jphy)
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