BBSB vs. SPTB

Last updated Jun 5, 2026

BBSB (JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF) and SPTB (State Street SPDR Portfolio Treasury ETF) are both Government Bonds funds - BBSB tracks the ICE U.S. Treasury 1-3 Year Bond Index while SPTB tracks the Bloomberg U.S. Treasury Index. Both are passively managed. Over the past year, BBSB returned 3.32% vs 3.36% for SPTB. Their correlation of 0.82 suggests significant overlap in exposure. BBSB charges 0.04%/yr vs 0.03%/yr for SPTB.

Performance

BBSB vs. SPTB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF (BBSB) and State Street SPDR Portfolio Treasury ETF (SPTB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBSB achieves a 0.55% return, which is significantly higher than SPTB's 0.04% return.

BBSB

• 1D: 0.07%
• 1M: 0.13%
• YTD: 0.55%
• 6M: 0.88%
• 1Y: 3.32%
• 3Y*: 4.15%
• 5Y*: —
• 10Y*: —

SPTB

• 1D: 0.11%
• 1M: 0.04%
• YTD: 0.04%
• 6M: 0.00%
• 1Y: 3.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBSB vs. SPTB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BBSB JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF	0.55%	5.12%	3.39%
SPTB State Street SPDR Portfolio Treasury ETF	0.04%	6.14%	2.17%

Correlation

The correlation between BBSB and SPTB is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (All Time) Calculated using the full available price history since May 22, 2024	0.82

The correlation between BBSB and SPTB has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.

Return for Risk

BBSB vs. SPTB — Risk / Return Rank

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

BBSB

BBSB Risk / Return Rank: 84
BBSB Sharpe Ratio Rank: 82
BBSB Sortino Ratio Rank: 93
BBSB Omega Ratio Rank: 88
BBSB Calmar Ratio Rank: 77
BBSB Martin Ratio Rank: 82

SPTB

SPTB Risk / Return Rank: 26
SPTB Sharpe Ratio Rank: 26
SPTB Sortino Ratio Rank: 26
SPTB Omega Ratio Rank: 24
SPTB Calmar Ratio Rank: 25
SPTB Martin Ratio Rank: 26

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBSB vs. SPTB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF (BBSB) and State Street SPDR Portfolio Treasury ETF (SPTB). 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.

	BBSB	SPTB	Difference
Sharpe ratio: Return per unit of total volatility	2.64	0.94	+1.70
Sortino ratio: Return per unit of downside risk	4.47	1.41	+3.06
Omega ratio: Gain probability vs. loss probability	1.54	1.16	+0.38
Calmar ratio: Return relative to maximum drawdown	3.89	1.16	+2.73
Martin ratio: Return relative to average drawdown	16.07	3.43	+12.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBSB vs. SPTB - Sharpe Ratio Comparison

The current BBSB Sharpe Ratio is 2.64, which is higher than the SPTB Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of BBSB and SPTB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BBSB	SPTB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	0.94	+1.70
Sharpe Ratio (All Time) Calculated using the full available price history	2.36	0.93	+1.43

Drawdowns

BBSB vs. SPTB - Drawdown Comparison

The maximum BBSB drawdown since its inception was -1.57%, smaller than the maximum SPTB drawdown of -4.96%. Use the drawdown chart below to compare losses from any high point for BBSB and SPTB.

Drawdown Indicators

	BBSB	SPTB	Difference
Max Drawdown Largest peak-to-trough decline	-1.57%	-4.96%	+3.39%
Max Drawdown (1Y) Largest decline over 1 year	-0.86%	-2.90%	+2.04%
Max Drawdown (3Y) Largest decline over 3 years	-0.96%	—	—
Current Drawdown Current decline from peak	-0.18%	-1.84%	+1.66%
Average Drawdown Average peak-to-trough decline	-0.31%	-1.32%	+1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	0.98%	-0.77%

Volatility

BBSB vs. SPTB - Volatility Comparison

The current volatility for JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF (BBSB) is 0.36%, while State Street SPDR Portfolio Treasury ETF (SPTB) has a volatility of 1.11%. This indicates that BBSB experiences smaller price fluctuations and is considered to be less risky than SPTB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBSB	SPTB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.36%	1.11%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	0.85%	2.47%	-1.62%
Volatility (1Y) Calculated over the trailing 1-year period	1.27%	3.64%	-2.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.66%	4.41%	-2.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.66%	4.41%	-2.75%

BBSB vs. SPTB - Expense Ratio Comparison

BBSB has a 0.04% expense ratio, which is higher than SPTB'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

BBSB vs. SPTB - Dividend Comparison

BBSB's dividend yield for the trailing twelve months is around 3.81%, less than SPTB's 4.20% yield.

Position	TTM	2025	2024	2023
BBSB JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF	3.81%	3.69%	4.84%	3.50%
SPTB State Street SPDR Portfolio Treasury ETF	4.20%	4.23%	2.76%	0.00%

Frequently Asked Questions

Can I hold both BBSB and SPTB in my portfolio?

BBSB and SPTB have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBSB or SPTB?

SPTB has higher volatility (1.11%) compared to BBSB (0.36%). In terms of maximum drawdown, BBSB dropped -1.57% vs SPTB's -4.96%.

Which ETF is better, BBSB or SPTB?

On 1-year performance, SPTB leads with 3.36% vs 3.32% for BBSB. On fees, SPTB is cheaper at 0.03% per year. On volatility, BBSB has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBSB or SPTB?

Over the 1-year period, SPTB has performed better with a 3.36% return vs 3.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBSB or SPTB?

SPTB is cheaper with a 0.03% expense ratio, compared with 0.04% for BBSB.

Which ETF pays a higher dividend yield, BBSB or SPTB?

SPTB has the higher dividend yield at 4.20%, compared with 3.81% for BBSB.

What is the main difference between BBSB and SPTB?

BBSB tracks ICE U.S. Treasury 1-3 Year Bond Index, while SPTB tracks Bloomberg U.S. Treasury Index. They also come from different issuers: JPMorgan and State Street. Their fees differ too: 0.04% for BBSB and 0.03% for SPTB.

Which has better risk-adjusted returns?

BBSB currently has the higher Sharpe Ratio (2.64 vs 0.94), 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.