BAB vs. SPLB
Compare and contrast key facts about Invesco Taxable Municipal Bond ETF (BAB) and SPDR Portfolio Long Term Corporate Bond ETF (SPLB).
BAB and SPLB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BAB is a passively managed fund by Invesco that tracks the performance of the BofA Merrill Lynch Build America Bond Index. It was launched on Nov 17, 2009. SPLB is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays Long U.S. Corporate Index. It was launched on Mar 10, 2009. Both BAB and SPLB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BAB or SPLB.
Key characteristics
| BAB | SPLB | |
|---|---|---|
| YTD Return | 2.61% | 0.63% |
| 1Y Return | 10.12% | 14.43% |
| 3Y Return (Ann) | -3.78% | -6.66% |
| 5Y Return (Ann) | -0.20% | -1.16% |
| 10Y Return (Ann) | 2.65% | 2.46% |
| Sharpe Ratio | 1.37 | 1.37 |
| Sortino Ratio | 2.03 | 2.00 |
| Omega Ratio | 1.25 | 1.23 |
| Calmar Ratio | 0.54 | 0.50 |
| Martin Ratio | 5.15 | 4.41 |
| Ulcer Index | 2.15% | 3.40% |
| Daily Std Dev | 8.07% | 10.92% |
| Max Drawdown | -27.80% | -34.46% |
| Current Drawdown | -11.62% | -18.99% |
Correlation
The correlation between BAB and SPLB is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
BAB vs. SPLB - Performance Comparison
In the year-to-date period, BAB achieves a 2.61% return, which is significantly higher than SPLB's 0.63% return. Over the past 10 years, BAB has outperformed SPLB with an annualized return of 2.65%, while SPLB has yielded a comparatively lower 2.46% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BAB vs. SPLB - Expense Ratio Comparison
BAB has a 0.28% expense ratio, which is higher than SPLB's 0.07% expense ratio.
Risk-Adjusted Performance
BAB vs. SPLB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Taxable Municipal Bond ETF (BAB) and SPDR Portfolio Long Term Corporate Bond ETF (SPLB). 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.
Dividends
BAB vs. SPLB - Dividend Comparison
BAB's dividend yield for the trailing twelve months is around 3.85%, less than SPLB's 4.99% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAB Invesco Taxable Municipal Bond ETF | 3.85% | 3.65% | 3.40% | 2.63% | 2.96% | 3.77% | 4.20% | 3.96% | 4.26% | 4.71% | 4.59% | 5.18% |
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 4.99% | 4.60% | 4.53% | 3.00% | 3.01% | 3.79% | 4.50% | 4.06% | 4.34% | 4.70% | 4.25% | 4.89% |
Drawdowns
BAB vs. SPLB - Drawdown Comparison
The maximum BAB drawdown since its inception was -27.80%, smaller than the maximum SPLB drawdown of -34.46%. Use the drawdown chart below to compare losses from any high point for BAB and SPLB. For additional features, visit the drawdowns tool.
Volatility
BAB vs. SPLB - Volatility Comparison
The current volatility for Invesco Taxable Municipal Bond ETF (BAB) is 1.66%, while SPDR Portfolio Long Term Corporate Bond ETF (SPLB) has a volatility of 2.84%. This indicates that BAB experiences smaller price fluctuations and is considered to be less risky than SPLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.