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^XSP vs. TLT
Performance
Risk-Adjusted Performance
Drawdowns
Volatility

Correlation

The correlation between ^XSP and TLT is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.


Performance

^XSP vs. TLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in S&P 500 Mini-SPX Options Index (^XSP) and iShares 20+ Year Treasury Bond ETF (TLT). The values are adjusted to include any dividend payments, if applicable.

-40.00%-20.00%0.00%20.00%40.00%60.00%December2025FebruaryMarchAprilMay
45.16%
-30.20%
^XSP
TLT

Key characteristics

Sharpe Ratio

^XSP:

0.48

TLT:

0.03

Sortino Ratio

^XSP:

0.80

TLT:

0.14

Omega Ratio

^XSP:

1.12

TLT:

1.02

Calmar Ratio

^XSP:

0.49

TLT:

0.01

Martin Ratio

^XSP:

1.90

TLT:

0.05

Ulcer Index

^XSP:

4.90%

TLT:

7.78%

Daily Std Dev

^XSP:

19.37%

TLT:

14.44%

Max Drawdown

^XSP:

-25.43%

TLT:

-48.35%

Current Drawdown

^XSP:

-7.82%

TLT:

-42.17%

Returns By Period

In the year-to-date period, ^XSP achieves a -3.70% return, which is significantly lower than TLT's 0.93% return.


^XSP

YTD

-3.70%

1M

13.67%

6M

-5.18%

1Y

9.18%

5Y*

N/A

10Y*

N/A

TLT

YTD

0.93%

1M

-1.26%

6M

-2.78%

1Y

0.41%

5Y*

-9.53%

10Y*

-0.61%

*Annualized

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Risk-Adjusted Performance

^XSP vs. TLT — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^XSP
The Risk-Adjusted Performance Rank of ^XSP is 6868
Overall Rank
The Sharpe Ratio Rank of ^XSP is 6464
Sharpe Ratio Rank
The Sortino Ratio Rank of ^XSP is 6464
Sortino Ratio Rank
The Omega Ratio Rank of ^XSP is 6868
Omega Ratio Rank
The Calmar Ratio Rank of ^XSP is 7070
Calmar Ratio Rank
The Martin Ratio Rank of ^XSP is 7272
Martin Ratio Rank

TLT
The Risk-Adjusted Performance Rank of TLT is 2020
Overall Rank
The Sharpe Ratio Rank of TLT is 2222
Sharpe Ratio Rank
The Sortino Ratio Rank of TLT is 2020
Sortino Ratio Rank
The Omega Ratio Rank of TLT is 1919
Omega Ratio Rank
The Calmar Ratio Rank of TLT is 2121
Calmar Ratio Rank
The Martin Ratio Rank of TLT is 2121
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

^XSP vs. TLT - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for S&P 500 Mini-SPX Options Index (^XSP) and iShares 20+ Year Treasury Bond ETF (TLT). 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.


The current ^XSP Sharpe Ratio is 0.48, which is higher than the TLT Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of ^XSP and TLT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.000.001.002.003.00December2025FebruaryMarchAprilMay
0.48
0.03
^XSP
TLT

Drawdowns

^XSP vs. TLT - Drawdown Comparison

The maximum ^XSP drawdown since its inception was -25.43%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for ^XSP and TLT. For additional features, visit the drawdowns tool.


-40.00%-30.00%-20.00%-10.00%0.00%December2025FebruaryMarchAprilMay
-7.82%
-36.96%
^XSP
TLT

Volatility

^XSP vs. TLT - Volatility Comparison

S&P 500 Mini-SPX Options Index (^XSP) has a higher volatility of 11.21% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 4.71%. This indicates that ^XSP's price experiences larger fluctuations and is considered to be riskier than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


2.00%4.00%6.00%8.00%10.00%12.00%14.00%December2025FebruaryMarchAprilMay
11.21%
4.71%
^XSP
TLT