FTSM vs. SPTU
FTSM (First Trust Enhanced Short Maturity ETF) and SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) are both Ultrashort Bond funds. FTSM is actively managed, while SPTU is passively managed. At a 0.20 correlation, their price movements are largely independent. FTSM charges 0.44%/yr vs 0.05%/yr for SPTU.
Performance
FTSM vs. SPTU - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FTSM having a 1.43% return and SPTU slightly higher at 1.48%.
FTSM
- 1D
- -0.05%
- 1M
- 0.33%
- YTD
- 1.43%
- 6M
- 1.77%
- 1Y
- 4.16%
- 3Y*
- 4.84%
- 5Y*
- 3.45%
- 10Y*
- 2.54%
SPTU
- 1D
- 0.00%
- 1M
- 0.31%
- YTD
- 1.48%
- 6M
- 1.81%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FTSM vs. SPTU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FTSM First Trust Enhanced Short Maturity ETF | 1.43% | 0.95% |
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF | 1.48% | 0.92% |
Correlation
The correlation between FTSM and SPTU is 0.20, 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 | 0.21 |
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Return for Risk
FTSM vs. SPTU — Risk / Return Rank
FTSM
SPTU
FTSM vs. SPTU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Enhanced Short Maturity ETF (FTSM) 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.
| FTSM | SPTU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 4.37 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 35.73 | — | — |
| Martin ratioReturn relative to average drawdown | 177.67 | — | — |
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
| FTSM | SPTU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 8.78 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 7.02 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 2.89 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.96 | 11.82 | -9.87 |
Drawdowns
FTSM vs. SPTU - Drawdown Comparison
The maximum FTSM drawdown since its inception was -4.12%, which is greater than SPTU's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for FTSM and SPTU.
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Drawdown Indicators
| FTSM | SPTU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.12% | -0.04% | -4.08% |
Max Drawdown (1Y)Largest decline over 1 year | -0.12% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -0.15% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -0.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -4.12% | — | — |
Current DrawdownCurrent decline from peak | -0.05% | 0.00% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -0.22% | -0.00% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | — | — |
Volatility
FTSM vs. SPTU - Volatility Comparison
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Volatility by Period
| FTSM | SPTU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.16% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.35% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.48% | 0.32% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.49% | 0.32% | +0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.88% | 0.32% | +0.56% |
FTSM vs. SPTU - Expense Ratio Comparison
FTSM has a 0.44% expense ratio, which is higher than SPTU's 0.05% expense ratio.
Dividends
FTSM vs. SPTU - Dividend Comparison
FTSM's dividend yield for the trailing twelve months is around 4.16%, more than SPTU's 2.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTSM First Trust Enhanced Short Maturity ETF | 4.16% | 4.28% | 4.91% | 4.62% | 1.62% | 0.39% | 1.20% | 2.38% | 2.14% | 1.49% | 1.03% | 0.48% |
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF | 2.36% | 0.89% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FTSM and SPTU have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
SPTU is cheaper with a 0.05% expense ratio, compared with 0.44% for FTSM.
FTSM has the higher dividend yield at 4.16%, compared with 2.36% for SPTU.
They also come from different issuers: First Trust and State Street. Their fees differ too: 0.44% for FTSM and 0.05% for SPTU.
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