BSCX vs. SPLB
BSCX (Invesco BulletShares 2033 Corporate Bond ETF) and SPLB (SPDR Portfolio Long Term Corporate Bond ETF) are both Corporate Bonds funds - BSCX tracks the Invesco BulletShares USD Corporate Bond 2033 Index while SPLB tracks the Bloomberg Barclays Long U.S. Corporate Index. Both are passively managed. Over the past year, BSCX returned 6.09% vs 7.56% for SPLB. Their correlation of 0.94 suggests significant overlap in exposure. BSCX charges 0.10%/yr vs 0.07%/yr for SPLB.
Performance
BSCX vs. SPLB - Performance Comparison
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Returns By Period
In the year-to-date period, BSCX achieves a 0.17% return, which is significantly lower than SPLB's 0.92% return.
BSCX
- 1D
- -0.19%
- 1M
- 0.27%
- YTD
- 0.17%
- 6M
- 0.21%
- 1Y
- 6.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPLB
- 1D
- -0.36%
- 1M
- 1.50%
- YTD
- 0.92%
- 6M
- -0.06%
- 1Y
- 7.56%
- 3Y*
- 4.35%
- 5Y*
- -1.84%
- 10Y*
- 2.23%
BSCX vs. SPLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BSCX Invesco BulletShares 2033 Corporate Bond ETF | 0.17% | 9.31% | 1.73% | 7.88% |
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 0.92% | 7.05% | -1.74% | 9.71% |
Correlation
The correlation between BSCX and SPLB is 0.94, 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 | 0.94 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2023 | 0.94 |
The correlation between BSCX and SPLB has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.
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Return for Risk
BSCX vs. SPLB — Risk / Return Rank
BSCX
SPLB
BSCX vs. SPLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2033 Corporate Bond ETF (BSCX) 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.
| BSCX | SPLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.16 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 1.40 | +0.71 |
| Martin ratioReturn relative to average drawdown | 6.83 | 3.48 | +3.35 |
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
| BSCX | SPLB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.49 | 0.94 | +0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.15 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.17 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.16 | 0.45 | +0.72 |
Drawdowns
BSCX vs. SPLB - Drawdown Comparison
The maximum BSCX drawdown since its inception was -5.13%, smaller than the maximum SPLB drawdown of -34.46%. Use the drawdown chart below to compare losses from any high point for BSCX and SPLB.
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Drawdown Indicators
| BSCX | SPLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.13% | -34.46% | +29.33% |
Max Drawdown (1Y)Largest decline over 1 year | -2.90% | -5.42% | +2.52% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.91% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.46% | — |
Current DrawdownCurrent decline from peak | -1.40% | -14.53% | +13.13% |
Average DrawdownAverage peak-to-trough decline | -1.37% | -8.01% | +6.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 2.18% | -1.29% |
Volatility
BSCX vs. SPLB - Volatility Comparison
The current volatility for Invesco BulletShares 2033 Corporate Bond ETF (BSCX) is 1.32%, while SPDR Portfolio Long Term Corporate Bond ETF (SPLB) has a volatility of 2.36%. This indicates that BSCX 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.
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Volatility by Period
| BSCX | SPLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.32% | 2.36% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.97% | 5.81% | -2.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.11% | 8.05% | -3.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.08% | 12.71% | -6.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.08% | 12.95% | -6.87% |
BSCX vs. SPLB - Expense Ratio Comparison
BSCX has a 0.10% expense ratio, which is higher than SPLB'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%.
Dividends
BSCX vs. SPLB - Dividend Comparison
BSCX's dividend yield for the trailing twelve months is around 4.89%, less than SPLB's 5.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSCX Invesco BulletShares 2033 Corporate Bond ETF | 4.89% | 4.82% | 5.00% | 1.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 5.38% | 5.25% | 5.20% | 4.60% | 4.53% | 3.00% | 3.01% | 3.79% | 4.50% | 4.06% | 4.34% | 4.70% |
Frequently Asked Questions
With a correlation of 0.94, BSCX and SPLB 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.
SPLB has higher volatility (2.36%) compared to BSCX (1.32%). In terms of maximum drawdown, BSCX dropped -5.13% vs SPLB's -34.46%.
On 1-year performance, SPLB leads with 7.56% vs 6.09% for BSCX. On fees, SPLB is cheaper at 0.07% per year. On volatility, BSCX has been the lower-risk option at 1.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPLB has performed better with a 7.56% return vs 6.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPLB is cheaper with a 0.07% expense ratio, compared with 0.10% for BSCX.
SPLB has the higher dividend yield at 5.38%, compared with 4.89% for BSCX.
BSCX tracks Invesco BulletShares USD Corporate Bond 2033 Index, while SPLB tracks Bloomberg Barclays Long U.S. Corporate Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.10% for BSCX and 0.07% for SPLB.
BSCX currently has the higher Sharpe Ratio (1.49 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.
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