CLIP vs. SPTU

Last updated Jun 4, 2026

CLIP (Global X 1-3 Month T-Bill ETF) and SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) are both Ultrashort Bond funds - CLIP tracks the Solactive 1-3 month US T-Bill Index - USD while SPTU tracks the ICE BofA US Treasury Bill Index. Both are passively managed. At a 0.30 correlation, their price movements are largely independent. CLIP charges 0.07%/yr vs 0.05%/yr for SPTU.

Performance

CLIP vs. SPTU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X 1-3 Month T-Bill ETF (CLIP) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CLIP having a 1.50% return and SPTU slightly lower at 1.48%.

CLIP

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.50%
• 6M: 1.82%
• 1Y: 3.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPTU

• 1D: 0.00%
• 1M: 0.31%
• YTD: 1.48%
• 6M: 1.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLIP vs. SPTU - Yearly Performance Comparison

	2026 (YTD)	2025
CLIP Global X 1-3 Month T-Bill ETF	1.50%	0.93%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.48%	0.92%

Correlation

The correlation between CLIP and SPTU is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025	0.30

Return for Risk

CLIP vs. SPTU — Risk / Return Rank

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

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP Martin Ratio Rank: 100

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.

CLIP vs. SPTU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X 1-3 Month T-Bill ETF (CLIP) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). 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.

	CLIP	SPTU	Difference
Sharpe ratio: Return per unit of total volatility	17.26	—	—
Sortino ratio: Return per unit of downside risk	72.02	—	—
Omega ratio: Gain probability vs. loss probability	20.66	—	—
Calmar ratio: Return relative to maximum drawdown	142.22	—	—
Martin ratio: Return relative to average drawdown	1,151.15	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CLIP	SPTU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	17.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	10.71	11.82	-1.11

Drawdowns

CLIP vs. SPTU - Drawdown Comparison

The maximum CLIP drawdown since its inception was -0.08%, which is greater than SPTU's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for CLIP and SPTU.

Drawdown Indicators

	CLIP	SPTU	Difference
Max Drawdown Largest peak-to-trough decline	-0.08%	-0.04%	-0.04%
Max Drawdown (1Y) Largest decline over 1 year	-0.03%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	—	—

Volatility

Volatility by Period

	CLIP	SPTU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.23%	0.32%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.44%	0.32%	+0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.44%	0.32%	+0.12%

CLIP vs. SPTU - Expense Ratio Comparison

CLIP has a 0.07% expense ratio, which is higher than SPTU's 0.05% 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

CLIP vs. SPTU - Dividend Comparison

CLIP's dividend yield for the trailing twelve months is around 3.91%, more than SPTU's 2.36% yield.

Position	TTM	2025	2024	2023
CLIP Global X 1-3 Month T-Bill ETF	3.91%	4.14%	5.11%	2.75%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.36%	0.89%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CLIP and SPTU in my portfolio?

CLIP and SPTU have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLIP or SPTU?

On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLIP or SPTU?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.07% for CLIP.

Which ETF pays a higher dividend yield, CLIP or SPTU?

CLIP has the higher dividend yield at 3.91%, compared with 2.36% for SPTU.

What is the main difference between CLIP and SPTU?

CLIP tracks Solactive 1-3 month US T-Bill Index - USD, while SPTU tracks ICE BofA US Treasury Bill Index. They also come from different issuers: Global X and State Street. Their fees differ too: 0.07% for CLIP and 0.05% for SPTU.