BTOT vs. SPAB

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Total USD Fixed Income Market ETF (BTOT) and SPDR Portfolio Aggregate Bond ETF (SPAB).

BTOT and SPAB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BTOT is a passively managed fund by iShares that tracks the performance of the Bloomberg US Total Fixed Income Market Index. It was launched on Dec 10, 2025. SPAB is a passively managed fund by State Street that tracks the performance of the Bloomberg U.S. Aggregate Bond Index. It was launched on May 23, 2007. Both BTOT and SPAB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

BTOT vs. SPAB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Total USD Fixed Income Market ETF (BTOT) and SPDR Portfolio Aggregate Bond ETF (SPAB). The values are adjusted to include any dividend payments, if applicable.

BTOT vs. SPAB - Yearly Performance Comparison

	2026 (YTD)	2025
BTOT iShares Total USD Fixed Income Market ETF	0.03%	0.31%
SPAB SPDR Portfolio Aggregate Bond ETF	0.13%	0.08%

Returns By Period

In the year-to-date period, BTOT achieves a 0.03% return, which is significantly lower than SPAB's 0.13% return.

BTOT

• 1D: 0.38%
• 1M: -1.54%
• YTD: 0.03%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPAB

• 1D: 0.27%
• 1M: -1.75%
• YTD: 0.13%
• 6M: 1.09%
• 1Y: 4.38%
• 3Y*: 3.62%
• 5Y*: 0.21%
• 10Y*: 1.64%

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

BTOT vs. SPAB - Expense Ratio Comparison

BTOT has a 0.09% expense ratio, which is higher than SPAB'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%.

BTOT

iShares Total USD Fixed Income Market ETF

SPAB

SPDR Portfolio Aggregate Bond ETF

Return for Risk

BTOT vs. SPAB — Risk / Return Rank

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

SPAB

SPAB Risk / Return Rank: 60
SPAB Sharpe Ratio Rank: 60
SPAB Sortino Ratio Rank: 60
SPAB Omega Ratio Rank: 50
SPAB Calmar Ratio Rank: 73
SPAB Martin Ratio Rank: 55

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.

BTOT vs. SPAB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Total USD Fixed Income Market ETF (BTOT) and SPDR Portfolio Aggregate Bond ETF (SPAB). 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

	BTOT	SPAB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.03	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.04	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.30	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.51	-0.18

Correlation

The correlation between BTOT and SPAB is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BTOT vs. SPAB - Dividend Comparison

BTOT's dividend yield for the trailing twelve months is around 0.93%, less than SPAB's 3.98% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTOT iShares Total USD Fixed Income Market ETF	0.93%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPAB SPDR Portfolio Aggregate Bond ETF	3.98%	3.97%	3.86%	3.34%	2.59%	2.11%	2.43%	2.92%	2.96%	2.67%	2.63%	2.59%

Drawdowns

BTOT vs. SPAB - Drawdown Comparison

The maximum BTOT drawdown since its inception was -2.36%, smaller than the maximum SPAB drawdown of -18.56%. Use the drawdown chart below to compare losses from any high point for BTOT and SPAB.

Drawdown Indicators

	BTOT	SPAB	Difference
Max Drawdown Largest peak-to-trough decline	-2.36%	-18.56%	+16.20%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.52%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.56%	—
Current Drawdown Current decline from peak	-1.54%	-2.43%	+0.89%
Average Drawdown Average peak-to-trough decline	-0.49%	-3.09%	+2.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.90%	—

Volatility

Volatility by Period

	BTOT	SPAB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.58%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.51%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.70%	4.29%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.70%	5.91%	-2.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.70%	5.54%	-1.84%