AGZ vs. SPTL
AGZ (iShares Agency Bond ETF) and SPTL (SPDR Portfolio Long Term Treasury ETF) are both Government Bonds funds - AGZ tracks the Bloomberg U.S. Agency Bond Index (USD) while SPTL tracks the Bloomberg Long U.S. Treasury Index. Both are passively managed. Over the past 10 years, AGZ returned 1.74%/yr vs -1.81%/yr for SPTL. Their 0.69 correlation means they have sometimes moved together and sometimes differently. AGZ charges 0.20%/yr vs 0.03%/yr for SPTL.
Performance
AGZ vs. SPTL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AGZ achieves a 0.14% return, which is significantly higher than SPTL's -3.28% return. Over the past 10 years, AGZ has outperformed SPTL with an annualized return of 1.74%, while SPTL has yielded a comparatively lower -1.81% annualized return.
AGZ
- 1D
- -0.12%
- 1M
- -0.37%
- 6M
- 0.06%
- YTD
- 0.14%
- 1Y
- 2.32%
- 3Y*
- 4.20%
- 5Y*
- 0.97%
- 10Y*
- 1.74%
- ALL TIME*
- 2.35%
SPTL
- 1D
- -0.67%
- 1M
- -3.50%
- 6M
- -3.17%
- YTD
- -3.28%
- 1Y
- -1.73%
- 3Y*
- -0.59%
- 5Y*
- -7.09%
- 10Y*
- -1.81%
- ALL TIME*
- 3.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.57M | $1.51M | $1.37M | |
| $141.08M | $126.11M | $146.73M |
AGZ vs. SPTL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGZ iShares Agency Bond ETF | 0.14% | 6.05% | 3.08% | 5.18% | -7.77% | -1.05% | 5.77% | 5.51% | 1.32% | 2.01% |
SPTL SPDR Portfolio Long Term Treasury ETF | -3.28% | 5.28% | -6.23% | 3.30% | -29.44% | -4.99% | 18.07% | 13.74% | -1.57% | 9.01% |
Correlation
The correlation between AGZ and SPTL is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.76 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.77 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2008 | 0.69 |
The correlation between AGZ and SPTL has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AGZ vs. SPTL — Risk / Return Rank
AGZ
SPTL
AGZ vs. SPTL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Agency Bond ETF (AGZ) and SPDR Portfolio Long Term Treasury ETF (SPTL). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AGZ | SPTL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.00 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | -0.06 | +2.27 |
| Martin ratioReturn relative to average drawdown | 6.46 | -0.14 | +6.59 |
Loading charts...
Drawdowns
AGZ vs. SPTL - Drawdown Comparison
The maximum AGZ drawdown since its inception was -11.01%, smaller than the maximum SPTL drawdown of -46.20%. Use the drawdown chart below to compare losses from any high point for AGZ and SPTL.
Loading charts...
Drawdown Indicators
| AGZ | SPTL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.01% | -46.20% | +35.19% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -7.09% | +5.74% |
Max Drawdown (3Y)Largest decline over 3 years | -1.85% | -13.39% | +11.54% |
Max Drawdown (5Y)Largest decline over 5 years | -10.65% | -41.02% | +30.37% |
Max Drawdown (10Y)Largest decline over 10 years | -11.01% | -46.20% | +35.19% |
Current DrawdownCurrent decline from peak | -0.81% | -38.71% | +37.90% |
Average DrawdownAverage peak-to-trough decline | -1.60% | -14.43% | +12.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 3.21% | -2.75% |
Volatility
AGZ vs. SPTL - Volatility Comparison
The current volatility for iShares Agency Bond ETF (AGZ) is 0.66%, while SPDR Portfolio Long Term Treasury ETF (SPTL) has a volatility of 2.26%. This indicates that AGZ experiences smaller price fluctuations and is considered to be less risky than SPTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AGZ | SPTL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 2.26% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 2.01% | 6.39% | -4.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.54% | 8.51% | -5.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.55% | 14.50% | -10.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.03% | 13.88% | -10.85% |
AGZ vs. SPTL - Expense Ratio Comparison
AGZ has a 0.20% expense ratio, which is higher than SPTL's 0.03% 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
AGZ vs. SPTL - Dividend Comparison
AGZ's dividend yield for the trailing twelve months is around 3.72%, less than SPTL's 4.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGZ iShares Agency Bond ETF | 3.39% | 3.75% | 3.48% | 3.14% | 1.56% | 0.96% | 2.25% | 2.32% | 2.15% | 1.58% | 1.52% | 1.30% |
SPTL SPDR Portfolio Long Term Treasury ETF | 3.99% | 4.12% | 4.03% | 3.24% | 2.75% | 1.68% | 1.71% | 2.45% | 2.69% | 2.53% | 2.56% | 2.60% |
Frequently Asked Questions
AGZ and SPTL have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPTL has higher volatility (2.26%) compared to AGZ (0.66%). In terms of maximum drawdown, AGZ dropped -11.01% vs SPTL's -46.20%.
On 10-year performance, AGZ leads with 1.74% vs -1.81% for SPTL. On fees, SPTL is cheaper at 0.03% per year. On volatility, AGZ has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, AGZ has performed better with a 1.74% return vs -1.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTL is cheaper with a 0.03% expense ratio, compared with 0.20% for AGZ.
SPTL has the higher dividend yield at 3.99%, compared with 3.39% for AGZ.
AGZ tracks Bloomberg U.S. Agency Bond Index (USD), while SPTL tracks Bloomberg Long U.S. Treasury Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for AGZ and 0.03% for SPTL.
AGZ currently has the higher Sharpe Ratio (1.17 vs -0.05), 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.
Find the right allocation for AGZ and SPTL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer