BSCZ vs. SPBO

Last updated Jun 4, 2026

BSCZ (Invesco BulletShares 2035 Corporate Bond ETF) and SPBO (SPDR Portfolio Corporate Bond ETF) are both Corporate Bonds funds - BSCZ tracks the BulletShares® USD Corporate Bond 2035 Index while SPBO tracks the Bloomberg Barclays U.S. Corporate Bond Index. Both are passively managed. With a 0.98 correlation, they move nearly in lockstep. BSCZ charges 0.10%/yr vs 0.03%/yr for SPBO.

Performance

BSCZ vs. SPBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2035 Corporate Bond ETF (BSCZ) and SPDR Portfolio Corporate Bond ETF (SPBO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSCZ achieves a 0.18% return, which is significantly lower than SPBO's 0.70% return.

BSCZ

• 1D: -0.24%
• 1M: 0.42%
• YTD: 0.18%
• 6M: -0.02%
• 1Y: —
• 3Y*: —
• 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%

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

BSCZ vs. SPBO - Yearly Performance Comparison

	2026 (YTD)	2025
BSCZ Invesco BulletShares 2035 Corporate Bond ETF	0.18%	5.67%
SPBO SPDR Portfolio Corporate Bond ETF	0.70%	4.96%

Correlation

The correlation between BSCZ and SPBO is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.98

Return for Risk

BSCZ vs. SPBO — Risk / Return Rank

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

SPBO

SPBO Risk / Return Rank: 41
SPBO Sharpe Ratio Rank: 40
SPBO Sortino Ratio Rank: 41
SPBO Omega Ratio Rank: 39
SPBO Calmar Ratio Rank: 44
SPBO Martin Ratio Rank: 43

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.

BSCZ vs. SPBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2035 Corporate Bond ETF (BSCZ) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BSCZ	SPBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.45	—
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	1.21	0.47	+0.74

Drawdowns

BSCZ vs. SPBO - Drawdown Comparison

The maximum BSCZ drawdown since its inception was -3.28%, smaller than the maximum SPBO drawdown of -22.23%. Use the drawdown chart below to compare losses from any high point for BSCZ and SPBO.

Drawdown Indicators

	BSCZ	SPBO	Difference
Max Drawdown Largest peak-to-trough decline	-3.28%	-22.23%	+18.95%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.87%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.41%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.23%	—
Current Drawdown Current decline from peak	-1.46%	-0.91%	-0.55%
Average Drawdown Average peak-to-trough decline	-0.75%	-4.04%	+3.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.91%	—

Volatility

Volatility by Period

	BSCZ	SPBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.21%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.98%	4.36%	+0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.98%	7.18%	-2.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.98%	7.49%	-2.51%

BSCZ vs. SPBO - Expense Ratio Comparison

BSCZ 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

BSCZ vs. SPBO - Dividend Comparison

BSCZ's dividend yield for the trailing twelve months is around 4.09%, less than SPBO's 5.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSCZ Invesco BulletShares 2035 Corporate Bond ETF	4.09%	2.18%	0.00%	0.00%	0.00%	0.00%	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

Can I hold both BSCZ and SPBO in my portfolio?

With a correlation of 0.98, BSCZ 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.

Which ETF is better, BSCZ or SPBO?

On fees, SPBO is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BSCZ or SPBO?

SPBO is cheaper with a 0.03% expense ratio, compared with 0.10% for BSCZ.

Which ETF pays a higher dividend yield, BSCZ or SPBO?

SPBO has the higher dividend yield at 5.12%, compared with 4.09% for BSCZ.

What is the main difference between BSCZ and SPBO?

BSCZ tracks BulletShares® USD Corporate Bond 2035 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 BSCZ and 0.03% for SPBO.