DBND vs. SPTS
DBND (DoubleLine Opportunistic Bond ETF) and SPTS (SPDR Portfolio Short Term Treasury ETF) are both exchange-traded funds - DBND is a Intermediate Core-Plus Bond fund tracking the Bloomberg US Aggregate Bond 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 3 years, DBND returned 4.42%/yr vs 4.22%/yr for SPTS. A 0.74 correlation means they provide meaningful diversification when combined. DBND charges 0.50%/yr vs 0.03%/yr for SPTS.
Performance
DBND vs. SPTS - Performance Comparison
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Returns By Period
In the year-to-date period, DBND achieves a -0.21% return, which is significantly lower than SPTS's 0.41% return.
DBND
- 1D
- -0.20%
- 1M
- 0.47%
- YTD
- -0.21%
- 6M
- -0.07%
- 1Y
- 4.05%
- 3Y*
- 4.42%
- 5Y*
- —
- 10Y*
- —
SPTS
- 1D
- -0.10%
- 1M
- 0.12%
- YTD
- 0.41%
- 6M
- 0.55%
- 1Y
- 3.10%
- 3Y*
- 4.22%
- 5Y*
- 1.85%
- 10Y*
- 1.61%
DBND vs. SPTS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DBND DoubleLine Opportunistic Bond ETF | -0.21% | 7.41% | 3.06% | 6.33% | -5.93% |
SPTS SPDR Portfolio Short Term Treasury ETF | 0.41% | 5.05% | 4.20% | 4.27% | -1.27% |
Correlation
The correlation between DBND and SPTS is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.74 |
The correlation between DBND and SPTS has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.
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Return for Risk
DBND vs. SPTS — Risk / Return Rank
DBND
SPTS
DBND vs. SPTS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Opportunistic Bond ETF (DBND) 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.
| DBND | SPTS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.48 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 3.70 | -2.27 |
| Martin ratioReturn relative to average drawdown | 3.92 | 14.46 | -10.54 |
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Drawdowns
DBND vs. SPTS - Drawdown Comparison
The maximum DBND drawdown since its inception was -9.39%, which is greater than SPTS's maximum drawdown of -5.83%. Use the drawdown chart below to compare losses from any high point for DBND and SPTS.
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Drawdown Indicators
| DBND | SPTS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.39% | -5.83% | -3.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -0.84% | -1.99% |
Max Drawdown (3Y)Largest decline over 3 years | -6.25% | -0.96% | -5.29% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.71% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.71% | — |
Current DrawdownCurrent decline from peak | -1.80% | -0.31% | -1.49% |
Average DrawdownAverage peak-to-trough decline | -2.26% | -1.72% | -0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 0.21% | +0.82% |
Volatility
DBND vs. SPTS - Volatility Comparison
DoubleLine Opportunistic Bond ETF (DBND) has a higher volatility of 0.98% compared to SPDR Portfolio Short Term Treasury ETF (SPTS) at 0.46%. This indicates that DBND'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
| DBND | SPTS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.46% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 2.43% | 0.92% | +1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.26% | 1.34% | +1.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.08% | 1.99% | +3.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.08% | 1.71% | +3.37% |
DBND vs. SPTS - Expense Ratio Comparison
DBND has a 0.50% expense ratio, which is higher than SPTS's 0.03% expense ratio.
Dividends
DBND vs. SPTS - Dividend Comparison
DBND's dividend yield for the trailing twelve months is around 4.79%, more than SPTS's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBND DoubleLine Opportunistic Bond ETF | 4.79% | 4.78% | 5.19% | 4.39% | 2.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
DBND and SPTS have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBND has higher volatility (0.98%) compared to SPTS (0.46%). In terms of maximum drawdown, DBND dropped -9.39% vs SPTS's -5.83%.
On 3-year performance, DBND leads with 4.42% vs 4.22% for SPTS. On fees, SPTS is cheaper at 0.03% per year. On volatility, SPTS has been the lower-risk option at 0.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DBND has performed better with a 4.42% return vs 4.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTS is cheaper with a 0.03% expense ratio, compared with 0.50% for DBND.
DBND has the higher dividend yield at 4.79%, compared with 3.91% for SPTS.
DBND is categorized as Intermediate Core-Plus Bond, while SPTS is Government Bonds. DBND tracks Bloomberg US Aggregate Bond Index, while SPTS tracks Bloomberg 1-3 Year U.S. Treasury Index. They also come from different issuers: DoubleLine and State Street. Their fees differ too: 0.50% for DBND and 0.03% for SPTS.
SPTS currently has the higher Sharpe Ratio (2.33 vs 1.25), 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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