BSCS vs. SPSB

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco BulletShares 2028 Corporate Bond ETF (BSCS) and SPDR Portfolio Short Term Corporate Bond ETF (SPSB).

BSCS and SPSB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BSCS is a passively managed fund by Invesco that tracks the performance of the NASDAQ BulletShares USD Corporate Bond 2028 TR Index. It was launched on Aug 9, 2018. SPSB is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index. It was launched on Dec 16, 2009. Both BSCS and SPSB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

BSCS vs. SPSB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2028 Corporate Bond ETF (BSCS) and SPDR Portfolio Short Term Corporate Bond ETF (SPSB). The values are adjusted to include any dividend payments, if applicable.

BSCS vs. SPSB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BSCS Invesco BulletShares 2028 Corporate Bond ETF	0.21%	7.04%	3.87%	7.62%	-11.24%	-1.89%	10.17%	15.41%	-0.40%
SPSB SPDR Portfolio Short Term Corporate Bond ETF	0.28%	5.86%	5.25%	5.60%	-3.31%	-0.20%	3.83%	5.21%	1.05%

Returns By Period

In the year-to-date period, BSCS achieves a 0.21% return, which is significantly lower than SPSB's 0.28% return.

BSCS

• 1D: 0.21%
• 1M: -0.58%
• YTD: 0.21%
• 6M: 1.47%
• 1Y: 4.93%
• 3Y*: 5.10%
• 5Y*: 1.59%
• 10Y*: —

SPSB

• 1D: 0.17%
• 1M: -0.48%
• YTD: 0.28%
• 6M: 1.46%
• 1Y: 4.49%
• 3Y*: 5.17%
• 5Y*: 2.64%
• 10Y*: 2.61%

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

BSCS vs. SPSB - Expense Ratio Comparison

BSCS has a 0.10% expense ratio, which is higher than SPSB's 0.07% 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%.

BSCS

Invesco BulletShares 2028 Corporate Bond ETF

SPSB

SPDR Portfolio Short Term Corporate Bond ETF

Return for Risk

BSCS vs. SPSB — Risk / Return Rank

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

BSCS

BSCS Risk / Return Rank: 95
BSCS Sharpe Ratio Rank: 93
BSCS Sortino Ratio Rank: 96
BSCS Omega Ratio Rank: 96
BSCS Calmar Ratio Rank: 94
BSCS Martin Ratio Rank: 96

SPSB

SPSB Risk / Return Rank: 98
SPSB Sharpe Ratio Rank: 98
SPSB Sortino Ratio Rank: 98
SPSB Omega Ratio Rank: 98
SPSB Calmar Ratio Rank: 97
SPSB Martin Ratio Rank: 97

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.

BSCS vs. SPSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2028 Corporate Bond ETF (BSCS) and SPDR Portfolio Short Term Corporate Bond ETF (SPSB). 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.

	BSCS	SPSB	Difference
Sharpe ratio Return per unit of total volatility	2.18	3.01	-0.82
Sortino ratio Return per unit of downside risk	3.26	4.62	-1.36
Omega ratio Gain probability vs. loss probability	1.49	1.68	-0.19
Calmar ratio Return relative to maximum drawdown	3.64	5.22	-1.58
Martin ratio Return relative to average drawdown	16.51	21.58	-5.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BSCS vs. SPSB - Sharpe Ratio Comparison

The current BSCS Sharpe Ratio is 2.18, which is comparable to the SPSB Sharpe Ratio of 3.01. The chart below compares the historical Sharpe Ratios of BSCS and SPSB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BSCS	SPSB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	3.01	-0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	1.35	-1.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.86	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.86	-0.27

Correlation

The correlation between BSCS and SPSB 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.

Dividends

BSCS vs. SPSB - Dividend Comparison

BSCS's dividend yield for the trailing twelve months is around 4.48%, which matches SPSB's 4.50% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSCS Invesco BulletShares 2028 Corporate Bond ETF	4.48%	4.46%	4.54%	3.90%	2.72%	2.14%	2.50%	3.04%	1.42%	0.00%	0.00%	0.00%
SPSB SPDR Portfolio Short Term Corporate Bond ETF	4.50%	4.55%	4.85%	4.05%	1.92%	1.19%	1.94%	2.77%	2.36%	1.94%	1.65%	1.43%

Drawdowns

BSCS vs. SPSB - Drawdown Comparison

The maximum BSCS drawdown since its inception was -18.40%, which is greater than SPSB's maximum drawdown of -11.75%. Use the drawdown chart below to compare losses from any high point for BSCS and SPSB.

Drawdown Indicators

	BSCS	SPSB	Difference
Max Drawdown Largest peak-to-trough decline	-18.40%	-11.75%	-6.65%
Max Drawdown (1Y) Largest decline over 1 year	-1.37%	-0.87%	-0.50%
Max Drawdown (5Y) Largest decline over 5 years	-17.63%	-5.96%	-11.67%
Max Drawdown (10Y) Largest decline over 10 years	—	-11.75%	—
Current Drawdown Current decline from peak	-0.58%	-0.48%	-0.10%
Average Drawdown Average peak-to-trough decline	-4.29%	-0.55%	-3.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.30%	0.21%	+0.09%

Volatility

BSCS vs. SPSB - Volatility Comparison

Invesco BulletShares 2028 Corporate Bond ETF (BSCS) and SPDR Portfolio Short Term Corporate Bond ETF (SPSB) have volatilities of 0.67% and 0.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSCS	SPSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	0.64%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	1.02%	0.87%	+0.15%
Volatility (1Y) Calculated over the trailing 1-year period	2.27%	1.50%	+0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.95%	1.97%	+2.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.31%	3.06%	+3.25%