GOVZ vs. SPTB
GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) and SPTB (State Street SPDR Portfolio Treasury ETF) are both Government Bonds funds - GOVZ tracks the ICE BofA Long US Treasury Principal STRIPS Index while SPTB tracks the Bloomberg U.S. Treasury Index. Both are passively managed. Over the past year, GOVZ returned -7.04% vs 1.19% for SPTB. Their correlation of 0.86 means they have usually moved in the same direction. GOVZ charges 0.15%/yr vs 0.03%/yr for SPTB.
Performance
GOVZ vs. SPTB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GOVZ achieves a -6.61% return, which is significantly lower than SPTB's -0.54% return.
GOVZ
- 1D
- 0.34%
- 1M
- -6.59%
- 6M
- -5.59%
- YTD
- -6.61%
- 1Y
- -7.04%
- 3Y*
- -6.86%
- 5Y*
- -14.55%
- 10Y*
- —
- ALL TIME*
- -14.11%
SPTB
- 1D
- 0.10%
- 1M
- -1.11%
- 6M
- -0.45%
- YTD
- -0.54%
- 1Y
- 1.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.32M | $6.57M | $8.03M | |
| $1.46M | $1.17M | $1.31M |
GOVZ vs. SPTB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | -6.61% | -1.81% | -4.68% |
SPTB State Street SPDR Portfolio Treasury ETF | -0.54% | 6.14% | 2.17% |
Correlation
The correlation between GOVZ and SPTB is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (All Time) Calculated using the full available price history since May 21, 2024 | 0.86 |
The correlation between GOVZ and SPTB has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GOVZ vs. SPTB — Risk / Return Rank
GOVZ
SPTB
GOVZ vs. SPTB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) and State Street SPDR Portfolio Treasury ETF (SPTB). 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.
| GOVZ | SPTB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.06 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 0.41 | -0.89 |
| Martin ratioReturn relative to average drawdown | -0.96 | 0.98 | -1.94 |
Loading charts...
Drawdowns
GOVZ vs. SPTB - Drawdown Comparison
The maximum GOVZ drawdown since its inception was -59.65%, which is greater than SPTB's maximum drawdown of -4.96%. Use the drawdown chart below to compare losses from any high point for GOVZ and SPTB.
Loading charts...
Drawdown Indicators
| GOVZ | SPTB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.65% | -4.96% | -54.69% |
Max Drawdown (1Y)Largest decline over 1 year | -14.87% | -2.90% | -11.97% |
Max Drawdown (3Y)Largest decline over 3 years | -26.42% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -57.63% | — | — |
Current DrawdownCurrent decline from peak | -58.96% | -2.41% | -56.55% |
Average DrawdownAverage peak-to-trough decline | -40.35% | -1.36% | -38.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.33% | 1.22% | +6.11% |
Volatility
GOVZ vs. SPTB - Volatility Comparison
iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a higher volatility of 4.53% compared to State Street SPDR Portfolio Treasury ETF (SPTB) at 0.89%. This indicates that GOVZ's price experiences larger fluctuations and is considered to be riskier than SPTB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GOVZ | SPTB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.53% | 0.89% | +3.64% |
Volatility (6M)Calculated over the trailing 6-month period | 11.06% | 2.69% | +8.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.52% | 3.41% | +12.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.80% | 4.35% | +19.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.17% | 4.35% | +18.82% |
GOVZ vs. SPTB - Expense Ratio Comparison
GOVZ has a 0.15% expense ratio, which is higher than SPTB's 0.03% 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
GOVZ vs. SPTB - Dividend Comparison
GOVZ's dividend yield for the trailing twelve months is around 5.53%, more than SPTB's 4.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 5.53% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% |
SPTB State Street SPDR Portfolio Treasury ETF | 4.21% | 4.23% | 2.76% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GOVZ and SPTB have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVZ has higher volatility (4.53%) compared to SPTB (0.89%). In terms of maximum drawdown, GOVZ dropped -59.65% vs SPTB's -4.96%.
On 1-year performance, SPTB leads with 1.19% vs -7.04% for GOVZ. On fees, SPTB is cheaper at 0.03% per year. On volatility, SPTB has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPTB has performed better with a 1.19% return vs -7.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTB is cheaper with a 0.03% expense ratio, compared with 0.15% for GOVZ.
GOVZ has the higher dividend yield at 5.53%, compared with 4.21% for SPTB.
GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index, while SPTB tracks Bloomberg U.S. Treasury Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.15% for GOVZ and 0.03% for SPTB.
SPTB currently has the higher Sharpe Ratio (0.35 vs -0.46), 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.
Find the right allocation for GOVZ and SPTB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer