BWZ vs. SPSK
BWZ (SPDR Bloomberg Barclays Short Term International Treasury Bond ETF) and SPSK (SP Funds Dow Jones Global Sukuk ETF) are both exchange-traded funds - BWZ is a International Government Bonds fund tracking the Bloomberg Global Treasury (1-3 Y) Customized, while SPSK is a Global Bonds fund tracking the Dow Jones Sukuk Total Return (No Coupon Reinvestment). Both are passively managed. Over the past 5 years, BWZ returned -2.08%/yr vs 0.76%/yr for SPSK. At a 0.27 correlation, their price movements are largely independent. BWZ charges 0.35%/yr vs 0.50%/yr for SPSK.
Performance
BWZ vs. SPSK - Performance Comparison
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Returns By Period
In the year-to-date period, BWZ achieves a -0.95% return, which is significantly lower than SPSK's -0.36% return.
BWZ
- 1D
- 0.22%
- 1M
- -1.99%
- YTD
- -0.95%
- 6M
- 0.07%
- 1Y
- 0.29%
- 3Y*
- 2.26%
- 5Y*
- -2.08%
- 10Y*
- -0.49%
SPSK
- 1D
- -0.22%
- 1M
- -0.65%
- YTD
- -0.36%
- 6M
- -0.27%
- 1Y
- 3.52%
- 3Y*
- 4.01%
- 5Y*
- 0.76%
- 10Y*
- —
BWZ vs. SPSK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BWZ SPDR Bloomberg Barclays Short Term International Treasury Bond ETF | -0.95% | 10.47% | -5.31% | 2.97% | -10.56% | -6.85% | 6.47% | 0.23% |
SPSK SP Funds Dow Jones Global Sukuk ETF | -0.36% | 6.16% | 2.95% | 3.95% | -7.75% | -1.30% | 3.67% | 0.02% |
Correlation
The correlation between BWZ and SPSK is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2019 | 0.27 |
The correlation between BWZ and SPSK shifts across timeframes, from 0.27 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BWZ vs. SPSK — Risk / Return Rank
BWZ
SPSK
BWZ vs. SPSK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Short Term International Treasury Bond ETF (BWZ) and SP Funds Dow Jones Global Sukuk ETF (SPSK). 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.
| BWZ | SPSK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.16 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.06 | 1.24 | -1.18 |
| Martin ratioReturn relative to average drawdown | 0.13 | 4.14 | -4.01 |
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
| BWZ | SPSK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.04 | 0.92 | -0.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | 0.15 | -0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.07 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 0.19 | -0.22 |
Drawdowns
BWZ vs. SPSK - Drawdown Comparison
The maximum BWZ drawdown since its inception was -34.23%, which is greater than SPSK's maximum drawdown of -12.83%. Use the drawdown chart below to compare losses from any high point for BWZ and SPSK.
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Drawdown Indicators
| BWZ | SPSK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.23% | -12.83% | -21.40% |
Max Drawdown (1Y)Largest decline over 1 year | -5.15% | -2.85% | -2.30% |
Max Drawdown (3Y)Largest decline over 3 years | -8.60% | -3.17% | -5.43% |
Max Drawdown (5Y)Largest decline over 5 years | -23.55% | -12.45% | -11.10% |
Max Drawdown (10Y)Largest decline over 10 years | -24.90% | — | — |
Current DrawdownCurrent decline from peak | -22.65% | -1.41% | -21.24% |
Average DrawdownAverage peak-to-trough decline | -16.11% | -3.82% | -12.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.29% | 0.85% | +1.44% |
Volatility
BWZ vs. SPSK - Volatility Comparison
SPDR Bloomberg Barclays Short Term International Treasury Bond ETF (BWZ) has a higher volatility of 1.65% compared to SP Funds Dow Jones Global Sukuk ETF (SPSK) at 0.94%. This indicates that BWZ's price experiences larger fluctuations and is considered to be riskier than SPSK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BWZ | SPSK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 0.94% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 5.02% | 2.46% | +2.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.89% | 3.83% | +3.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.60% | 5.29% | +2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.96% | 5.46% | +1.50% |
BWZ vs. SPSK - Expense Ratio Comparison
BWZ has a 0.35% expense ratio, which is lower than SPSK's 0.50% expense ratio.
Dividends
BWZ vs. SPSK - Dividend Comparison
BWZ's dividend yield for the trailing twelve months is around 2.10%, less than SPSK's 4.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BWZ SPDR Bloomberg Barclays Short Term International Treasury Bond ETF | 2.10% | 2.05% | 2.47% | 1.63% | 0.44% | 0.60% | 0.13% | 0.43% | 1.10% | 0.40% | 0.13% | 0.06% |
SPSK SP Funds Dow Jones Global Sukuk ETF | 4.26% | 3.63% | 3.53% | 2.95% | 2.22% | 2.56% | 1.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BWZ and SPSK have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BWZ has higher volatility (1.65%) compared to SPSK (0.94%). In terms of maximum drawdown, BWZ dropped -34.23% vs SPSK's -12.83%.
On 5-year performance, SPSK leads with 0.76% vs -2.08% for BWZ. On fees, BWZ is cheaper at 0.35% per year. On volatility, SPSK has been the lower-risk option at 0.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPSK has performed better with a 0.76% return vs -2.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BWZ is cheaper with a 0.35% expense ratio, compared with 0.50% for SPSK.
SPSK has the higher dividend yield at 4.26%, compared with 2.10% for BWZ.
BWZ is categorized as International Government Bonds, while SPSK is Global Bonds. BWZ tracks Bloomberg Global Treasury (1-3 Y) Customized, while SPSK tracks Dow Jones Sukuk Total Return (No Coupon Reinvestment). They also come from different issuers: State Street and SP Funds. Their fees differ too: 0.35% for BWZ and 0.50% for SPSK.
SPSK currently has the higher Sharpe Ratio (0.92 vs 0.04), 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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