BSV vs. SPTS
BSV (Vanguard Short-Term Bond Index Fund ETF Shares) and SPTS (SPDR Portfolio Short Term Treasury ETF) are both exchange-traded funds - BSV is a Short-Term Bond fund tracking the Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index, while SPTS is a Government Bonds fund tracking the Bloomberg 1-3 Year U.S. Treasury Index. Both are passively managed. Over the past 10 years, BSV returned 1.92%/yr vs 1.68%/yr for SPTS. Their 0.70 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.03% expense ratio.
Performance
BSV vs. SPTS - Performance Comparison
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Returns By Period
In the year-to-date period, BSV achieves a 0.52% return, which is significantly lower than SPTS's 0.83% return. Over the past 10 years, BSV has outperformed SPTS with an annualized return of 1.92%, while SPTS has yielded a comparatively lower 1.68% annualized return.
BSV
- 1D
- 0.10%
- 1M
- -0.12%
- 6M
- 0.42%
- YTD
- 0.52%
- 1Y
- 2.46%
- 3Y*
- 4.47%
- 5Y*
- 1.62%
- 10Y*
- 1.92%
- ALL TIME*
- 2.52%
SPTS
- 1D
- 0.08%
- 1M
- 0.08%
- 6M
- 0.72%
- YTD
- 0.83%
- 1Y
- 2.69%
- 3Y*
- 4.27%
- 5Y*
- 1.89%
- 10Y*
- 1.68%
- ALL TIME*
- 1.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $128.14M | $170.40M | $199.65M | |
| $24.96M | $29.50M | $39.95M |
BSV vs. SPTS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 0.52% | 6.00% | 3.78% | 4.90% | -5.49% | -1.09% | 4.70% | 4.98% | 1.34% | 1.20% |
SPTS SPDR Portfolio Short Term Treasury ETF | 0.83% | 5.05% | 4.20% | 4.27% | -3.86% | -0.72% | 3.23% | 3.56% | 1.08% | 0.59% |
Correlation
The correlation between BSV and SPTS is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2011 | 0.70 |
Over the past year, BSV and SPTS have become more correlated (0.91) than their long-term average of 0.70, meaning their price movements have been converging.
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Return for Risk
BSV vs. SPTS — Risk / Return Rank
BSV
SPTS
BSV vs. SPTS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Bond Index Fund ETF Shares (BSV) and SPDR Portfolio Short Term Treasury ETF (SPTS). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BSV | SPTS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.42 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 3.22 | -1.31 |
| Martin ratioReturn relative to average drawdown | 5.92 | 12.57 | -6.65 |
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Drawdowns
BSV vs. SPTS - Drawdown Comparison
The maximum BSV drawdown since its inception was -8.54%, which is greater than SPTS's maximum drawdown of -5.83%. Use the drawdown chart below to compare losses from any high point for BSV and SPTS.
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Drawdown Indicators
| BSV | SPTS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.54% | -5.83% | -2.71% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -0.84% | -0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -1.53% | -0.96% | -0.57% |
Max Drawdown (5Y)Largest decline over 5 years | -8.39% | -5.65% | -2.74% |
Max Drawdown (10Y)Largest decline over 10 years | -8.54% | -5.71% | -2.83% |
Current DrawdownCurrent decline from peak | -0.40% | 0.00% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -1.70% | +0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 0.21% | +0.21% |
Volatility
BSV vs. SPTS - Volatility Comparison
Vanguard Short-Term Bond Index Fund ETF Shares (BSV) has a higher volatility of 0.47% compared to SPDR Portfolio Short Term Treasury ETF (SPTS) at 0.38%. This indicates that BSV's price experiences larger fluctuations and is considered to be riskier than SPTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSV | SPTS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.47% | 0.38% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 1.41% | 1.01% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.71% | 1.25% | +0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.74% | 2.00% | +0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.38% | 1.70% | +0.68% |
BSV vs. SPTS - Expense Ratio Comparison
Both BSV and SPTS have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
BSV vs. SPTS - Dividend Comparison
BSV's dividend yield for the trailing twelve months is around 4.04%, more than SPTS's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 4.04% | 3.83% | 3.38% | 2.46% | 1.50% | 1.45% | 1.79% | 2.29% | 1.99% | 1.65% | 1.48% | 1.40% |
SPTS SPDR Portfolio Short Term Treasury ETF | 3.87% | 3.99% | 4.25% | 3.61% | 1.27% | 0.19% | 0.70% | 2.21% | 2.04% | 1.20% | 0.95% | 0.83% |
Frequently Asked Questions
With a correlation of 0.91, BSV and SPTS 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.
BSV has higher volatility (0.47%) compared to SPTS (0.38%). In terms of maximum drawdown, BSV dropped -8.54% vs SPTS's -5.83%.
On 10-year performance, BSV leads with 1.92% vs 1.68% for SPTS. Both ETFs have the same 0.03% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BSV has performed better with a 1.92% return vs 1.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSV and SPTS have the same expense ratio: 0.03% per year.
BSV has the higher dividend yield at 4.04%, compared with 3.87% for SPTS.
BSV is categorized as Short-Term Bond, while SPTS is Government Bonds. BSV tracks Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index, while SPTS tracks Bloomberg 1-3 Year U.S. Treasury Index. They also come from different issuers: Vanguard and State Street.
SPTS currently has the higher Sharpe Ratio (2.17 vs 1.44), 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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