SBND vs. SPY
SBND (Columbia Short Duration Bond ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - SBND is a Short-Term Bond fund tracking the Bloomberg Beta Advantage Short Term Bond (-300%), while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 3 years, SBND returned 6.04%/yr vs 22.58%/yr for SPY. At a 0.36 correlation, their price movements are largely independent. SBND charges 0.25%/yr vs 0.09%/yr for SPY.
Performance
SBND vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, SBND achieves a 0.91% return, which is significantly lower than SPY's 11.33% return.
SBND
- 1D
- 0.00%
- 1M
- 0.28%
- YTD
- 0.91%
- 6M
- 1.54%
- 1Y
- 5.45%
- 3Y*
- 6.04%
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- 0.38%
- 1M
- 4.60%
- YTD
- 11.33%
- 6M
- 11.25%
- 1Y
- 28.50%
- 3Y*
- 22.58%
- 5Y*
- 13.91%
- 10Y*
- 15.48%
SBND vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SBND Columbia Short Duration Bond ETF | 0.91% | 7.50% | 4.83% | 7.20% | -7.24% | -0.68% |
SPY State Street SPDR S&P 500 ETF | 11.33% | 17.72% | 24.89% | 26.18% | -18.18% | 9.92% |
Correlation
The correlation between SBND and SPY is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021 | 0.36 |
SBND vs. SPY - Sectors Allocation Comparison
Sectors
SBND
SPY
Financial Services
Basic Materials
-
Communication Services
-
Consumer Cyclical
-
Consumer Defensive
-
Energy
-
Healthcare
-
Industrials
-
Real Estate
-
Technology
-
Utilities
-
Financial Services
SBND
SPY
Basic Materials
SBND
-
SPY
Communication Services
SBND
-
SPY
Consumer Cyclical
SBND
-
SPY
Consumer Defensive
SBND
-
SPY
Energy
SBND
-
SPY
Healthcare
SBND
-
SPY
Industrials
SBND
-
SPY
Real Estate
SBND
-
SPY
Technology
SBND
-
SPY
Utilities
SBND
-
SPY
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Return for Risk
SBND vs. SPY — Risk / Return Rank
SBND
SPY
SBND vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Short Duration Bond ETF (SBND) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| SBND | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.44 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.20 | 3.22 | -0.02 |
| Martin ratioReturn relative to average drawdown | 13.43 | 14.99 | -1.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SBND | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | 2.42 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.82 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 0.59 | +0.11 |
Drawdowns
SBND vs. SPY - Drawdown Comparison
The maximum SBND drawdown since its inception was -10.78%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for SBND and SPY.
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Drawdown Indicators
| SBND | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.78% | -55.19% | +44.41% |
Max Drawdown (1Y)Largest decline over 1 year | -1.71% | -8.88% | +7.17% |
Max Drawdown (3Y)Largest decline over 3 years | -1.71% | -18.76% | +17.05% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -0.14% | -0.33% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -2.86% | -9.05% | +6.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 1.91% | -1.50% |
Volatility
SBND vs. SPY - Volatility Comparison
The current volatility for Columbia Short Duration Bond ETF (SBND) is 0.58%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 2.79%. This indicates that SBND experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBND | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 2.79% | -2.21% |
Volatility (6M)Calculated over the trailing 6-month period | 1.69% | 8.91% | -7.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.47% | 11.82% | -9.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.61% | 17.05% | -13.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.61% | 17.93% | -14.32% |
SBND vs. SPY - Expense Ratio Comparison
SBND has a 0.25% expense ratio, which is higher than SPY's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SBND vs. SPY - Dividend Comparison
SBND's dividend yield for the trailing twelve months is around 4.53%, more than SPY's 0.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SBND Columbia Short Duration Bond ETF | 4.53% | 4.65% | 4.58% | 3.90% | 2.80% | 0.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 0.98% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
SBND and SPY have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPY has higher volatility (2.79%) compared to SBND (0.58%). In terms of maximum drawdown, SBND dropped -10.78% vs SPY's -55.19%.
On 3-year performance, SPY leads with 22.58% vs 6.04% for SBND. On fees, SPY is cheaper at 0.09% per year. On volatility, SBND has been the lower-risk option at 0.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SPY has performed better with a 22.58% return vs 6.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPY is cheaper with a 0.09% expense ratio, compared with 0.25% for SBND.
SBND has the higher dividend yield at 4.53%, compared with 0.98% for SPY.
SBND is categorized as Short-Term Bond, while SPY is S&P 500. SBND tracks Bloomberg Beta Advantage Short Term Bond (-300%), while SPY tracks S&P 500 Index. They also come from different issuers: Columbia and State Street. Their fees differ too: 0.25% for SBND and 0.09% for SPY.
SPY currently has the higher Sharpe Ratio (2.42 vs 2.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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