BSV vs. SPTS

Last updated Jun 4, 2026

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 U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 10 years, BSV returned 1.95%/yr vs 1.67%/yr for SPTS. A 0.69 correlation means they provide meaningful diversification when combined. Both charge a 0.03% expense ratio.

Performance

BSV vs. SPTS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Short-Term Bond Index Fund ETF Shares (BSV) and SPDR Portfolio Short Term Treasury ETF (SPTS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSV achieves a 0.29% return, which is significantly lower than SPTS's 0.45% return. Over the past 10 years, BSV has outperformed SPTS with an annualized return of 1.95%, while SPTS has yielded a comparatively lower 1.67% annualized return.

BSV

• 1D: -0.08%
• 1M: 0.06%
• YTD: 0.29%
• 6M: 0.52%
• 1Y: 3.68%
• 3Y*: 4.41%
• 5Y*: 1.62%
• 10Y*: 1.95%

SPTS

• 1D: -0.07%
• 1M: 0.05%
• YTD: 0.45%
• 6M: 0.77%
• 1Y: 3.45%
• 3Y*: 4.18%
• 5Y*: 1.81%
• 10Y*: 1.67%

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

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	0.29%	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	0.45%	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, 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	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Dec 2, 2011	0.69

Over the past year, BSV and SPTS have become more correlated (0.91) than their long-term average of 0.69, meaning their price movements have been converging.

Return for Risk

BSV vs. SPTS — Risk / Return Rank

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

BSV

BSV Risk / Return Rank: 61
BSV Sharpe Ratio Rank: 59
BSV Sortino Ratio Rank: 71
BSV Omega Ratio Rank: 63
BSV Calmar Ratio Rank: 57
BSV Martin Ratio Rank: 57

SPTS

SPTS Risk / Return Rank: 84
SPTS Sharpe Ratio Rank: 79
SPTS Sortino Ratio Rank: 91
SPTS Omega Ratio Rank: 87
SPTS Calmar Ratio Rank: 79
SPTS Martin Ratio Rank: 82

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.

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.

	BSV	SPTS	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.63	-0.59
Sortino ratio: Return per unit of downside risk	3.29	4.47	-1.18
Omega ratio: Gain probability vs. loss probability	1.39	1.55	-0.16
Calmar ratio: Return relative to maximum drawdown	2.87	4.13	-1.26
Martin ratio: Return relative to average drawdown	10.07	16.52	-6.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BSV vs. SPTS - Sharpe Ratio Comparison

The current BSV Sharpe Ratio is 2.05, which is comparable to the SPTS Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of BSV and SPTS, 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

	BSV	SPTS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	2.63	-0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.92	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.98	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.49	+0.36

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.

Drawdown Indicators

	BSV	SPTS	Difference
Max Drawdown Largest 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	-8.54%	-5.71%	-2.83%
Max Drawdown (10Y) Largest decline over 10 years	-8.54%	-5.71%	-2.83%
Current Drawdown Current decline from peak	-0.63%	-0.28%	-0.35%
Average Drawdown Average peak-to-trough decline	-0.97%	-1.72%	+0.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.37%	0.21%	+0.16%

Volatility

BSV vs. SPTS - Volatility Comparison

Vanguard Short-Term Bond Index Fund ETF Shares (BSV) has a higher volatility of 0.52% compared to SPDR Portfolio Short Term Treasury ETF (SPTS) at 0.34%. 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.

Volatility by Period

	BSV	SPTS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.52%	0.34%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	1.26%	0.86%	+0.40%
Volatility (1Y) Calculated over the trailing 1-year period	1.81%	1.32%	+0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.72%	1.98%	+0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.37%	1.72%	+0.65%

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 4.00%, more than SPTS's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSV Vanguard Short-Term Bond Index Fund ETF Shares	4.00%	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	3.91%	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

Can I hold both BSV and SPTS in my portfolio?

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.

Which is riskier, BSV or SPTS?

BSV has higher volatility (0.52%) compared to SPTS (0.34%). In terms of maximum drawdown, BSV dropped -8.54% vs SPTS's -5.83%.

Which ETF is better, BSV or SPTS?

On 10-year performance, BSV leads with 1.95% vs 1.67% for SPTS. Both ETFs have the same 0.03% expense ratio. On volatility, SPTS has been the lower-risk option at 0.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSV or SPTS?

Over the 10-year period, BSV has performed better with a 1.95% return vs 1.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSV or SPTS?

BSV and SPTS have the same expense ratio: 0.03% per year.

Which ETF pays a higher dividend yield, BSV or SPTS?

BSV has the higher dividend yield at 4.00%, compared with 3.91% for SPTS.

What is the main difference between BSV and 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 U.S. Treasury 1-3 Year Index. They also come from different issuers: Vanguard and State Street.

Which has better risk-adjusted returns?

SPTS currently has the higher Sharpe Ratio (2.63 vs 2.05), 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.