IUSB vs JNK: Performance, Holdings, Fees & Risk
IUSB and JNK are ETFs, but they can differ materially in exposure, yield, fees and risk. IUSB is iShares Core Universal USD Bond ETF, while JNK is State Street SPDR Bloomberg High Yield Bond ETF. IUSB is broader by holdings count, with 18,133 positions versus 1,154 for JNK. IUSB has the lower expense ratio. Current AlgovestIQ evidence has IUSB ahead on AIQ Score, 60 versus 59.
What is the main difference between IUSB and JNK?
IUSB holds 18,133 positions to JNK's 1,154, and 3% of their weight is in the same securities.
| Metric | IUSB | JNK |
|---|---|---|
| Fund | ||
| Expense ratio | 0.06% | 0.4% |
| Holdings | 18,133 | 1,154 |
| Top-10 concentration | 3.5% | 4.6% |
| Distribution yieldTrailing 12 months | 4.37% | 6.87% |
| Average volume | 5,777,905 | 3,298,081 |
| Performance | ||
| 1Y return | -5.5% | -4.9% |
| YTD return | -4.6% | -5.1% |
| 5Y annualized returnTotal return, distributions reinvested | +0% | +3.1% |
| Risk | ||
| Annualized volatility | 4% | 4.2% |
| Max drawdown (1Y) | -7% | -5.8% |
| Max drawdown (5Y)Total return, distributions reinvested | -17.4% | -16.7% |
| Beta | 0.13 | 0.22 |
| Sharpe ratio | -2.36 | -2.16 |
| Sortino ratio | -3.31 | -2.90 |
| AlgovestIQ | ||
| AIQ Score | 60/100 | 59/100 |
| AIQ Edge Score | 8/10 | 7/10 |
| Momentum | 56/100 | 34/100 |
| Risk Resilience | 92/100 | 83/100 |
AlgovestIQ AIQ Comparison
iShares Core Universal USD Bond ETF vs State Street SPDR Bloomberg High Yield Bond ETF
IUSB leads
IUSB leads by 1 AIQ points, primarily on Momentum and Risk Resilience, having only recently taken the lead back from JNK.
Fragile: 1 of 4 evidence groups support IUSB, the lead recently changed hands, and its current signal state is conflicted.
iShares Core Universal USD Bond ETF
State Street SPDR Bloomberg High Yield Bond ETF
The Algovestiq AIQ Score currently favors IUSB over JNK, 60 versus 59 as of Oct 21, 2026. IUSB's advantage is driven primarily by stronger momentum and risk resilience, while JNK holds the stronger value profile. IUSB also shows the stronger technical structure relative to its 50-day moving average. 1 of 4 covered evidence groups favor IUSB today, and the comparison is rated Fragile on stability: the AIQ gap is narrow at 1 points. IUSB lead: Reversed — JNK led by 4 AIQ points 30 sessions ago; IUSB now leads by 1.
Compare iShares Core Universal USD Bond ETF and State Street SPDR Bloomberg High Yield Bond ETF across performance, expense ratio, dividend yield, drawdown, volatility and the Algovestiq AIQ Score.
IUSB vs JNK: which fits what
Each row is settled by a single measure. Where the gap is too small to matter it reads Similar, and no row decides the comparison as a whole.
| If you want | IUSB | JNK | Fits |
|---|---|---|---|
| Lower costExpense ratio | 0.06% | 0.4% | IUSB |
| Broader diversificationNumber of holdings | 18,133 | 1,154 | IUSB |
| Lower concentrationWeight of the 10 largest holdings | 3.5% | 4.6% | Similar |
| Higher incomeTrailing 12-month distribution yield | 4.37% | 6.87% | JNK |
| Smaller drawdownsMax drawdown, 5 years | -17.4% | -16.7% | Similar |
| Lower volatilityAnnualized volatility, 1 year | 4% | 4.2% | Similar |
Similar means the gap is within 0.01 percentage points of expense ratio, 25% more holdings, 3 points of top-10 weight, 0.2 points of yield, 2 points of drawdown or 1 point of volatility. Past drawdowns and volatility describe the funds’ history, not their future.
Performance over time
Total return with distributions reinvested, from daily closes for both ETFs.
Total return comparison
Growth of $10,000, distributions reinvested
Split-adjusted closes; each distribution is reinvested at the close on its ex-dividend date. Taxes and trading costs are not modeled.
Compare IUSB and JNK against another ticker
Open a multi-ticker workspace without changing this focused pair page.
AIQ Factor Divergence
Where the two separate, on the four dimensions behind the AIQ Score. Bars read outward from a shared zero: further from the centre is a wider gap.
- Value36 vs 63JNK +27
- Momentum56 vs 34IUSB +22
- Risk Resilience92 vs 83IUSB +9
- Quality70 vs 63IUSB +7
1 of 4 evidence groups favor IUSB. IUSB’s edge is concentrated in momentum and risk resilience; JNK keeps a meaningful value edge.
What changed since the last close
Latest scored session 2026-10-20, compared against the prior scored session 2026-10-19.
Largest factor move: Momentum +6
No signal started or stopped since the prior session; its 5 active signals are unchanged.
Largest factor move: Momentum +1
No signal started or stopped since the prior session; its 6 active signals are unchanged.
IUSB's lead widened by 1 AIQ point in the latest session.
Deeper signal detail for each name lives on its own signals page — IUSB and JNK both carry a full feed there.
The central trade-off
IUSB (iShares Core Universal USD Bond ETF): the stronger current systematic profile, led by momentum and risk resilience.
JNK (State Street SPDR Bloomberg High Yield Bond ETF): the counter-case, on value, valuation.
Fund facts, side by side
Two funds tracking overlapping universes are separated by cost and risk far more than by holdings. Those lead here.
| Measure | IUSB | JNK | Why it matters |
|---|---|---|---|
| Expense ratio | 0.06% | 0.4% | Lower is better — it compounds against you every year you hold. |
| Holdings | 18,133 | 1,154 | More holdings means broader diversification, not better returns. |
| Average volume | 5,777,905 | 3,298,081 | Liquidity — matters most if you trade size. |
| Annualized volatility | 4% | 4.2% | Lower is a steadier ride for the same exposure. |
| Max drawdown (1Y) | -7% | -5.8% | The worst peak-to-trough loss over the past year. |
| Sharpe ratio | -2.36 | -2.16 | Return per unit of risk. Higher is better. |
| Beta | 0.13 | 0.22 | Sensitivity to the broad market. Neither direction is better — it depends on the role in your portfolio. |
Where the exposure actually sits
Sector exposure for each fund, ordered by the size of the difference.
How much of the same holdings they own
IUSB and JNK share 2.54% of their weighted exposure across 1,106 common holdings.
17,003 holdings are unique to IUSB, and 46 holdings are unique to JNK. Owning both is genuinely additive — most of the capital sits in different securities.
JNK is the more concentrated of the two: its ten largest positions are 4.59% of the fund, against 3.45% for IUSB (1,154 holdings vs 18,133). Concentration cuts both ways — it is what drives outperformance when the top names work, and what makes the drawdown deeper when they do not.
Largest shared positions
| Holding | IUSB | JNK | Shared |
|---|---|---|---|
| 1261229 BC LTD SR SECURED 144A 04/32 10 | 0.02% | 0.7% | 0.02% |
| TRANSDIGM INC COMPANY GUAR 144A 05/33 6.375 | 0.01% | 0.35% | 0.01% |
| OAK EAGLE ACQUIRECO INC SR UNSECURED 144A 07/34 8.75 | 0.01% | 0.27% | 0.01% |
| UNITI GROUP/CSL CAPITAL COMPANY GUAR 144A 06/32 8.625 | 0.01% | 0.01% | 0.01% |
| PETSMART LLC/PETSMART FI SR SECURED 144A 09/32 7.5 | 0.01% | 0.2% | 0.01% |
| LEVEL 3 FINANCING INC COMPANY GUAR 144A 01/36 8.5 | 0.01% | 0.21% | 0.01% |
| PR RNO PROPERTY OWNER 1 SR SECURED 144A 05/31 6.5 | 0.01% | 0.45% | 0.01% |
| VENTURE GLOBAL PLAQUE SR SECURED 144A 05/35 7.75 | 0.01% | 0.21% | 0.01% |
Shared weight is the lower of the two positions — the portion of capital both funds genuinely have in the same security.
What IUSB adds that JNK doesn’t
| Holding | IUSB | JNK |
|---|---|---|
| TREASURY NOTE 4.00% 11/15/2035 | 0.45% | Not held |
| TREASURY NOTE 4.25% 05/15/2035 | 0.35% | Not held |
| TREASURY NOTE 4.38% 12/31/2029 | 0.35% | Not held |
| TREASURY NOTE (OLD) 4.38% 05/15/2036 | 0.34% | Not held |
| TREASURY NOTE (2OLD) 4.13% 06/30/2031 | 0.34% | Not held |
| TREASURY NOTE 4.25% 11/15/2034 | 0.33% | Not held |
What JNK adds that IUSB doesn’t
| Holding | JNK | IUSB |
|---|---|---|
| 1261229 BC LTD SR SECURED 144A 04/32 10 | 0.7% | 0.02% |
| MERIDIAN ARC HOLDCO LLC SR SECURED 144A 04/31 6.25 | 0.57% | 0.01% |
| ECHOSTAR CORP SR SECURED 11/29 10.75 | 0.46% | 0.01% |
| PR RNO PROPERTY OWNER 1 SR SECURED 144A 05/31 6.5 | 0.45% | 0.01% |
| QUIKRETE HOLDINGS INC SR SECURED 144A 03/32 6.375 | 0.45% | 0.01% |
| VENTURE GLOBAL LNG INC SR SECURED 144A 02/29 9.5 | 0.41% | 0.01% |
Each list is a fund’s largest positions by weight that the other fund does not hold, or holds at less than half the weight.
AIQ Agreement Matrix
1 of 4 covered evidence groups favor IUSB. A wide gap backed by one group is a weaker case than a narrow gap backed by five.
| Evidence group | Favors | Reading |
|---|---|---|
| AIQ Score | Even | 60 vs 59 |
| Fundamentals | Not covered | Not covered |
| Valuation | JNK | Value 36 vs 63 |
| Technicals | Even | Price vs 50-day -0.9% vs -2.1%; vs 200-day -3.2% vs -3.8% |
| Risk Resilience | IUSB | Risk Resilience 92 vs 83 |
| Analyst expectations | Not covered | Not covered |
✓ agrees with the overall verdict · ✕ points the other way. Groups marked “not covered” lack data on one or both of IUSB and JNK and are excluded from the count.
AIQ Decision Stability
The conclusion is sensitive to small changes. Treat the lead as provisional and watch the flip conditions below.
- The AIQ gap is narrow at 1 points. (argues the conclusion is provisional)
- Only 1 of 4 covered evidence groups agree. (argues the conclusion is provisional)
- The lead has already changed hands inside the comparison window. (argues the conclusion is provisional)
- The lead has been steady session to session. (supports the conclusion holding)
- The leader is throwing conflicting signals. (argues the conclusion is provisional)
Stability combines the score gap, how broadly the evidence agrees, how steady the lead has been across daily snapshots, the current signal state on both names, and analyst dispersion on IUSB.
How the comparison changed
120 daily snapshots · Jun 21 – Oct 20IUSB lead: Reversed — JNK led by 4 AIQ points 30 sessions ago; IUSB now leads by 1.
- Today
- IUSB +1
- 60 vs 59
- 7 sessions ago
- JNK +1
- 57 vs 58
- 30 sessions ago
- JNK +4
- 52 vs 56
- 90 sessions ago
- JNK +8
- 54 vs 62
The lead has not changed hands in this window.
AIQ Signal Divergence
Only the signals that bear on the head-to-head. A conflicted name is carrying bullish and bearish rules at the same time — the technical evidence is not pointing one way.
1 bullish / 3 bearish / 1 neutral, conflicted
No signal that the other name lacks.
1 bullish / 3 bearish / 2 neutral, conflicted
Only JNK
- Bollinger Band Squeeze — neutral, volatility, short horizon
Both carry 5 more signals that do not separate them: Death Cross Active, ATR Contraction - Coiling, 52-Week Low Proximity, Downtrend Structure Active, MACD Bullish Crossover.
IUSB leads the comparison while carrying a conflicted signal state, which is one reason the stability rating is not higher.
Price vs model alignment
Whether the latest session's price move confirms what the model did over the same session, or contradicts it.
Neither the price nor the AIQ Score moved enough in the latest session to confirm or contradict the other (price +0.02%, AIQ +2 points).
Price and the AIQ Score both moved up over the latest session (price +0.16%, AIQ +1 points).
What would flip this result
A state, not a forecast. These are the specific, observable changes that would reverse the verdict — not a price prediction.
- 1JNK closes the Momentum gap — currently 22 points behind, the largest single contributor to IUSB's edge.
- 2JNK's Death Cross Active resolves — a bearish trend rule currently active against it.
- 3IUSB's conflicting signal state resolves bearish — it currently carries 1 bullish and 3 bearish rules at once.
- 4A regime shift changes factor weighting — Quality and Value carry the heaviest weights in the composite, so a rotation toward either would move the result most.
The full evidence
Every number behind the verdict. The leader is called above each group so you are not left to solve it from the table.
Performance
IUSB leads 5 of 6 windows| Metric | IUSB | JNK |
|---|---|---|
| 1 week (5 sessions) | 0.5% | -0.5% |
| 1 month (20 sessions) | -1.1% | -2.6% |
| 3 months (63 sessions) | -2.4% | -3.7% |
| 6 months (126 sessions) | -4.2% | -4.7% |
| Year to date | -4.6% | -5.1% |
| 1 year (252 sessions) | -5.5% | -4.9% |
Technicals
Split| Metric | IUSB | JNK |
|---|---|---|
| RSI (14) | 67 | 41.1 |
| ADX (14) | 29.4 | 40.8 |
| Price vs 50-day | -0.9% | -2.1% |
| Price vs 200-day | -3.2% | -3.8% |
| Volatility (1M, annualized) | 4.9% | 4.9% |
Risk
IUSB is the more resilient| Metric | IUSB | JNK |
|---|---|---|
| Beta | 0.13 | 0.22 |
| Sharpe ratio | -2.36 | -2.16 |
| Sortino ratio | -3.31 | -2.9 |
| Max drawdown | -7% | -5.8% |
| Current drawdown | -5.9% | -5.8% |
| Annualized volatility | 4% | 4.2% |
| Value at risk (95%) | -0.5% | -0.5% |
Straight answers
Short answers to the questions fund investors ask about this pair, from the figures above.
What is the difference between IUSB and JNK?
IUSB holds 18,133 positions to JNK's 1,154, and 3% of their weight is in the same securities.
How much do IUSB and JNK overlap?
IUSB and JNK share 2.54% of their weighted exposure across 1,106 common holdings. 17,003 holdings are unique to IUSB, and 46 holdings are unique to JNK. Owning both is genuinely additive — most of the capital sits in different securities.
Which ETF is more diversified, IUSB or JNK?
IUSB holds more positions: 18,133 versus 1,154 for JNK.
Which has the lower expense ratio?
IUSB has the lower expense ratio, 0.06% a year against 0.4% for JNK.
Which ETF has the higher distribution yield?
JNK, with a trailing 12-month distribution yield of 6.87% against 4.37% for IUSB.
Which ETF has been more volatile?
Their volatility over the past year is similar: 4% annualized for IUSB and 4.2% for JNK.
Which ETF has had the smaller drawdown?
Their worst peak-to-trough falls over the past five years are similar: -17.4% for IUSB and -16.7% for JNK.
Compare IUSB and JNK with others
Continue your research
This page answers which of the two. These answer the questions on either side of it.
How this comparison is scored
The Algovestiq AIQ Score composites four factors — Quality, Value, Momentum and Risk, each carrying a fixed weight. Sentiment is reported separately as SentimentPulse and is not folded into the composite. Scores refresh every trading day, and this page regenerates from the latest snapshot rather than being written once.
The verdict names a leader, states how broadly six independent evidence groups agree, and rates how durable that conclusion is given the score gap, its recent trajectory and the current signal state on both names.
How to use side-by-side comparison →This comparison is informational and educational, not investment advice. AIQ scores update daily; re-check after earnings, guidance or macro data that materially changes either name’s factor profile.