BSCV vs. SPBO
BSCV (Invesco BulletShares 2031 Corporate Bond ETF) and SPBO (SPDR Portfolio Corporate Bond ETF) are both Corporate Bonds funds - BSCV tracks the Invesco BulletShares Corporate Bond 2031 Index while SPBO tracks the Bloomberg Barclays U.S. Corporate Bond Index. Both are passively managed. Over the past 3 years, BSCV returned 5.70%/yr vs 5.54%/yr for SPBO. Their correlation of 0.94 suggests significant overlap in exposure. BSCV charges 0.10%/yr vs 0.03%/yr for SPBO.
Performance
BSCV vs. SPBO - Performance Comparison
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Returns By Period
In the year-to-date period, BSCV achieves a 0.13% return, which is significantly lower than SPBO's 0.70% return.
BSCV
- 1D
- -0.09%
- 1M
- 0.19%
- YTD
- 0.13%
- 6M
- 0.29%
- 1Y
- 5.33%
- 3Y*
- 5.70%
- 5Y*
- —
- 10Y*
- —
SPBO
- 1D
- -0.21%
- 1M
- 0.67%
- YTD
- 0.70%
- 6M
- 0.47%
- 1Y
- 6.29%
- 3Y*
- 5.54%
- 5Y*
- 0.66%
- 10Y*
- 2.77%
BSCV vs. SPBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BSCV Invesco BulletShares 2031 Corporate Bond ETF | 0.13% | 9.04% | 2.62% | 9.16% | -16.90% | -1.62% |
SPBO SPDR Portfolio Corporate Bond ETF | 0.70% | 7.83% | 2.59% | 8.80% | -15.68% | -1.69% |
Correlation
The correlation between BSCV and SPBO is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2021 | 0.94 |
The correlation between BSCV and SPBO has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.
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Return for Risk
BSCV vs. SPBO — Risk / Return Rank
BSCV
SPBO
BSCV vs. SPBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2031 Corporate Bond ETF (BSCV) and SPDR Portfolio Corporate Bond ETF (SPBO). 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.
| BSCV | SPBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.26 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 2.20 | -0.03 |
| Martin ratioReturn relative to average drawdown | 7.18 | 6.94 | +0.23 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BSCV | SPBO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.55 | 1.45 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.09 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.00 | 0.47 | -0.47 |
Drawdowns
BSCV vs. SPBO - Drawdown Comparison
The maximum BSCV drawdown since its inception was -23.28%, roughly equal to the maximum SPBO drawdown of -22.23%. Use the drawdown chart below to compare losses from any high point for BSCV and SPBO.
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Drawdown Indicators
| BSCV | SPBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.28% | -22.23% | -1.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.47% | -2.87% | +0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -6.75% | -6.41% | -0.34% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.23% | — |
Current DrawdownCurrent decline from peak | -1.19% | -0.91% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -9.56% | -4.04% | -5.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 0.91% | -0.17% |
Volatility
BSCV vs. SPBO - Volatility Comparison
The current volatility for Invesco BulletShares 2031 Corporate Bond ETF (BSCV) is 1.02%, while SPDR Portfolio Corporate Bond ETF (SPBO) has a volatility of 1.35%. This indicates that BSCV experiences smaller price fluctuations and is considered to be less risky than SPBO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSCV | SPBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 1.35% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 2.44% | 3.21% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.44% | 4.36% | -0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.36% | 7.18% | +0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.36% | 7.49% | -0.13% |
BSCV vs. SPBO - Expense Ratio Comparison
BSCV has a 0.10% expense ratio, which is higher than SPBO'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
BSCV vs. SPBO - Dividend Comparison
BSCV's dividend yield for the trailing twelve months is around 4.69%, less than SPBO's 5.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSCV Invesco BulletShares 2031 Corporate Bond ETF | 4.69% | 4.65% | 4.87% | 4.47% | 3.43% | 0.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPBO SPDR Portfolio Corporate Bond ETF | 5.12% | 5.09% | 5.28% | 4.73% | 3.54% | 2.42% | 2.75% | 3.46% | 3.60% | 3.15% | 3.35% | 3.07% |
Frequently Asked Questions
With a correlation of 0.91, BSCV and SPBO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SPBO has higher volatility (1.35%) compared to BSCV (1.02%). In terms of maximum drawdown, BSCV dropped -23.28% vs SPBO's -22.23%.
On 3-year performance, BSCV leads with 5.70% vs 5.54% for SPBO. On fees, SPBO is cheaper at 0.03% per year. On volatility, BSCV has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BSCV has performed better with a 5.70% return vs 5.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPBO is cheaper with a 0.03% expense ratio, compared with 0.10% for BSCV.
SPBO has the higher dividend yield at 5.12%, compared with 4.69% for BSCV.
BSCV tracks Invesco BulletShares Corporate Bond 2031 Index, while SPBO tracks Bloomberg Barclays U.S. Corporate Bond Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.10% for BSCV and 0.03% for SPBO.
BSCV currently has the higher Sharpe Ratio (1.55 vs 1.45), 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.
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