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FISR vs. ULST
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

FISR vs. ULST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSGA Fixed Income Sector Rotation ETF (FISR) and State Street Ultra Short Term Bond ETF (ULST). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FISR achieves a 0.28% return, which is significantly lower than ULST's 1.36% return.


FISR

1D
0.02%
1M
0.70%
YTD
0.28%
6M
0.51%
1Y
4.01%
3Y*
3.43%
5Y*
-0.82%
10Y*

ULST

1D
0.02%
1M
0.23%
YTD
1.36%
6M
1.50%
1Y
3.76%
3Y*
4.89%
5Y*
3.53%
10Y*
2.69%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FISR vs. ULST - Yearly Performance Comparison


2026 (YTD)2025202420232022202120202019
FISR
SPDR SSGA Fixed Income Sector Rotation ETF
0.28%6.32%1.01%5.28%-15.73%-1.70%5.86%6.74%
ULST
State Street Ultra Short Term Bond ETF
1.36%4.80%5.23%5.60%0.87%0.25%1.45%2.26%

Correlation

The correlation between FISR and ULST is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.48

Correlation (3Y)
Calculated over the trailing 3-year period

0.49

Correlation (5Y)
Calculated over the trailing 5-year period

0.36

Correlation (All Time)
Calculated using the full available price history since Apr 3, 2019

0.27

Over the past year, FISR and ULST have become more correlated (0.48) than their long-term average of 0.27, meaning their price movements have been converging.

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Return for Risk

FISR vs. ULST — Risk / Return Rank

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

FISR
FISR Risk / Return Rank: 2727
Overall Rank
FISR Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
FISR Sortino Ratio Rank: 2727
Sortino Ratio Rank
FISR Omega Ratio Rank: 2424
Omega Ratio Rank
FISR Calmar Ratio Rank: 2828
Calmar Ratio Rank
FISR Martin Ratio Rank: 2828
Martin Ratio Rank

ULST
ULST Risk / Return Rank: 9999
Overall Rank
ULST Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
ULST Sortino Ratio Rank: 9999
Sortino Ratio Rank
ULST Omega Ratio Rank: 9999
Omega Ratio Rank
ULST Calmar Ratio Rank: 9898
Calmar Ratio Rank
ULST Martin Ratio Rank: 9999
Martin Ratio Rank
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.

FISR vs. ULST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA Fixed Income Sector Rotation ETF (FISR) and State Street Ultra Short Term Bond ETF (ULST). 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.


FISRULSTDifference
Sharpe ratioReturn per unit of total volatility

-4.80

Sortino ratioReturn per unit of downside risk

-9.72

Omega ratioGain probability vs. loss probability

1.16

2.60

-1.44

Calmar ratioReturn relative to maximum drawdown

1.31

15.94

-14.63

Martin ratioReturn relative to average drawdown

3.59

82.17

-78.58

FISR vs. ULST - Sharpe Ratio Comparison

The current FISR Sharpe Ratio is 0.92, which is lower than the ULST Sharpe Ratio of 5.72. The chart below compares the historical Sharpe Ratios of FISR and ULST, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Drawdowns

FISR vs. ULST - Drawdown Comparison

The maximum FISR drawdown since its inception was -20.27%, which is greater than ULST's maximum drawdown of -6.20%. Use the drawdown chart below to compare losses from any high point for FISR and ULST.


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Drawdown Indicators


FISRULSTDifference

Max Drawdown

Largest peak-to-trough decline

-20.27%

-6.20%

-14.07%

Max Drawdown (1Y)

Largest decline over 1 year

-3.06%

-0.24%

-2.82%

Max Drawdown (3Y)

Largest decline over 3 years

-6.60%

-0.54%

-6.06%

Max Drawdown (5Y)

Largest decline over 5 years

-20.10%

-1.22%

-18.88%

Max Drawdown (10Y)

Largest decline over 10 years

-6.20%

Current Drawdown

Current decline from peak

-6.10%

0.00%

-6.10%

Average Drawdown

Average peak-to-trough decline

-7.69%

-0.16%

-7.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.12%

0.05%

+1.07%

Volatility

FISR vs. ULST - Volatility Comparison

SPDR SSGA Fixed Income Sector Rotation ETF (FISR) has a higher volatility of 1.45% compared to State Street Ultra Short Term Bond ETF (ULST) at 0.19%. This indicates that FISR's price experiences larger fluctuations and is considered to be riskier than ULST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


FISRULSTDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.45%

0.19%

+1.26%

Volatility (6M)

Calculated over the trailing 6-month period

3.38%

0.45%

+2.93%

Volatility (1Y)

Calculated over the trailing 1-year period

4.37%

0.66%

+3.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.60%

0.97%

+5.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.35%

1.44%

+4.91%

FISR vs. ULST - Expense Ratio Comparison

FISR has a 0.50% expense ratio, which is higher than ULST's 0.20% expense ratio.


Dividends

FISR vs. ULST - Dividend Comparison

FISR's dividend yield for the trailing twelve months is around 4.18%, less than ULST's 4.28% yield.


PositionTTM20252024202320222021202020192018201720162015
FISR
SPDR SSGA Fixed Income Sector Rotation ETF
4.18%3.97%3.59%3.50%2.19%1.87%2.47%2.99%0.00%0.00%0.00%0.00%
ULST
State Street Ultra Short Term Bond ETF
4.28%4.46%5.03%4.45%1.70%0.54%1.34%2.56%2.13%1.21%0.93%0.37%

Frequently Asked Questions


FISR and ULST have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FISR has higher volatility (1.45%) compared to ULST (0.19%). In terms of maximum drawdown, FISR dropped -20.27% vs ULST's -6.20%.

On 5-year performance, ULST leads with 3.53% vs -0.82% for FISR. On fees, ULST is cheaper at 0.20% per year. On volatility, ULST has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, ULST has performed better with a 3.53% return vs -0.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ULST is cheaper with a 0.20% expense ratio, compared with 0.50% for FISR.

ULST has the higher dividend yield at 4.28%, compared with 4.18% for FISR.

FISR is categorized as Intermediate Core-Plus Bond, while ULST is Ultrashort Bond. Their fees differ too: 0.50% for FISR and 0.20% for ULST.

ULST currently has the higher Sharpe Ratio (5.72 vs 0.92), 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.

Portfolio Optimizer

Find the right allocation for FISR and ULST

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