BSCT vs. SPY

Last updated Jun 4, 2026

BSCT (Invesco BulletShares 2029 Corporate Bond ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - BSCT is a Corporate Bonds fund tracking the NASDAQ BulletShares USD Corporate Bond 2029 Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, BSCT returned 1.25%/yr vs 13.83%/yr for SPY. At a 0.23 correlation, their price movements are largely independent. BSCT charges 0.10%/yr vs 0.09%/yr for SPY.

Performance

BSCT vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2029 Corporate Bond ETF (BSCT) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSCT achieves a 0.57% return, which is significantly lower than SPY's 10.91% return.

BSCT

• 1D: -0.05%
• 1M: 0.23%
• YTD: 0.57%
• 6M: 0.81%
• 1Y: 4.84%
• 3Y*: 5.61%
• 5Y*: 1.25%
• 10Y*: —

SPY

• 1D: -0.70%
• 1M: 5.05%
• YTD: 10.91%
• 6M: 10.91%
• 1Y: 27.98%
• 3Y*: 22.35%
• 5Y*: 13.83%
• 10Y*: 15.49%

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

BSCT vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BSCT Invesco BulletShares 2029 Corporate Bond ETF	0.57%	7.51%	3.45%	8.61%	-12.88%	-2.13%	10.83%	1.72%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	7.85%

Correlation

The correlation between BSCT and SPY is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since Sep 13, 2019	0.23

BSCT vs. SPY - Sectors Allocation Comparison

Sectors	BSCT	SPY
Technology	12.6%	35.9%
Financial Services	12.6%	11.8%
Healthcare	11.9%	8.4%
Consumer Cyclical	10.0%	10.3%
Communication Services	6.8%	11.3%
Industrials	6.8%	7.8%
Energy	5.3%	3.6%
Consumer Defensive	4.5%	4.8%
Utilities	4.3%	2.4%
Real Estate	3.1%	1.9%
Basic Materials	1.2%	1.8%

Return for Risk

BSCT vs. SPY — Risk / Return Rank

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

BSCT

BSCT Risk / Return Rank: 65
BSCT Sharpe Ratio Rank: 63
BSCT Sortino Ratio Rank: 72
BSCT Omega Ratio Rank: 68
BSCT Calmar Ratio Rank: 61
BSCT Martin Ratio Rank: 62

SPY

SPY Risk / Return Rank: 70
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

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.

BSCT vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2029 Corporate Bond ETF (BSCT) and State Street SPDR S&P 500 ETF (SPY). 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.

	BSCT	SPY	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.38	-0.27
Sortino ratio: Return per unit of downside risk	3.27	3.24	+0.03
Omega ratio: Gain probability vs. loss probability	1.41	1.43	-0.02
Calmar ratio: Return relative to maximum drawdown	2.99	3.16	-0.18
Martin ratio: Return relative to average drawdown	11.10	14.72	-3.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BSCT vs. SPY - Sharpe Ratio Comparison

The current BSCT Sharpe Ratio is 2.11, which is comparable to the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of BSCT and SPY, 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

	BSCT	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	2.38	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.82	-0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.59	-0.26

Drawdowns

BSCT vs. SPY - Drawdown Comparison

The maximum BSCT drawdown since its inception was -19.14%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BSCT and SPY.

Drawdown Indicators

	BSCT	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-19.14%	-55.19%	+36.05%
Max Drawdown (1Y) Largest decline over 1 year	-1.63%	-8.88%	+7.25%
Max Drawdown (3Y) Largest decline over 3 years	-4.21%	-18.76%	+14.55%
Max Drawdown (5Y) Largest decline over 5 years	-19.14%	-24.50%	+5.36%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-0.53%	-0.70%	+0.17%
Average Drawdown Average peak-to-trough decline	-5.37%	-9.05%	+3.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	1.91%	-1.47%

Volatility

BSCT vs. SPY - Volatility Comparison

The current volatility for Invesco BulletShares 2029 Corporate Bond ETF (BSCT) is 0.60%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 2.84%. This indicates that BSCT experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSCT	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.60%	2.84%	-2.24%
Volatility (6M) Calculated over the trailing 6-month period	1.60%	8.90%	-7.30%
Volatility (1Y) Calculated over the trailing 1-year period	2.31%	11.83%	-9.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.71%	17.05%	-11.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.26%	17.94%	-10.68%

BSCT vs. SPY - Expense Ratio Comparison

BSCT has a 0.10% expense ratio, which is higher than SPY's 0.09% 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

BSCT vs. SPY - Dividend Comparison

BSCT's dividend yield for the trailing twelve months is around 4.57%, more than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSCT Invesco BulletShares 2029 Corporate Bond ETF	4.57%	4.53%	4.51%	3.89%	2.65%	1.94%	2.24%	0.86%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	0.98%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both BSCT and SPY in my portfolio?

BSCT and SPY have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSCT or SPY?

SPY has higher volatility (2.84%) compared to BSCT (0.60%). In terms of maximum drawdown, BSCT dropped -19.14% vs SPY's -55.19%.

Which ETF is better, BSCT or SPY?

On 5-year performance, SPY leads with 13.83% vs 1.25% for BSCT. On fees, SPY is cheaper at 0.09% per year. On volatility, BSCT has been the lower-risk option at 0.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSCT or SPY?

Over the 5-year period, SPY has performed better with a 13.83% return vs 1.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSCT or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.10% for BSCT.

Which ETF pays a higher dividend yield, BSCT or SPY?

BSCT has the higher dividend yield at 4.57%, compared with 0.98% for SPY.

What is the main difference between BSCT and SPY?

BSCT is categorized as Corporate Bonds, while SPY is S&P 500. BSCT tracks NASDAQ BulletShares USD Corporate Bond 2029 Index, while SPY tracks S&P 500 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.10% for BSCT and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.38 vs 2.11), 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.