GOVZ vs. SPTS
GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) and SPTS (SPDR Portfolio Short Term Treasury ETF) are both Government Bonds funds - GOVZ tracks the ICE BofA Long US Treasury Principal STRIPS Index while SPTS tracks the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, GOVZ returned -11.53%/yr vs 1.81%/yr for SPTS. A 0.50 correlation means they provide meaningful diversification when combined. GOVZ charges 0.15%/yr vs 0.03%/yr for SPTS.
Performance
GOVZ vs. SPTS - Performance Comparison
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Returns By Period
In the year-to-date period, GOVZ achieves a -0.94% return, which is significantly lower than SPTS's 0.45% return.
GOVZ
- 1D
- -0.50%
- 1M
- 1.73%
- YTD
- -0.94%
- 6M
- -4.35%
- 1Y
- 3.91%
- 3Y*
- -7.43%
- 5Y*
- -11.53%
- 10Y*
- —
SPTS
- 1D
- -0.07%
- 1M
- 0.05%
- YTD
- 0.45%
- 6M
- 0.77%
- 1Y
- 3.45%
- 3Y*
- 4.18%
- 5Y*
- 1.81%
- 10Y*
- 1.67%
GOVZ vs. SPTS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | -0.94% | -1.81% | -16.24% | 0.90% | -41.03% | -4.86% | -5.61% |
SPTS SPDR Portfolio Short Term Treasury ETF | 0.45% | 5.05% | 4.20% | 4.27% | -3.86% | -0.72% | 0.14% |
Correlation
The correlation between GOVZ and SPTS is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2020 | 0.50 |
The correlation between GOVZ and SPTS has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.
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Return for Risk
GOVZ vs. SPTS — Risk / Return Rank
GOVZ
SPTS
GOVZ vs. SPTS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) 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.
| GOVZ | SPTS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.39 | ||
| Sortino ratioReturn per unit of downside risk | -4.00 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.55 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | 0.28 | 4.13 | -3.85 |
| Martin ratioReturn relative to average drawdown | 0.63 | 16.52 | -15.89 |
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
| GOVZ | SPTS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.24 | 2.63 | -2.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.48 | 0.92 | -1.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.98 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.58 | 0.49 | -1.08 |
Drawdowns
GOVZ vs. SPTS - Drawdown Comparison
The maximum GOVZ drawdown since its inception was -59.65%, which is greater than SPTS's maximum drawdown of -5.83%. Use the drawdown chart below to compare losses from any high point for GOVZ and SPTS.
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Drawdown Indicators
| GOVZ | SPTS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.65% | -5.83% | -53.82% |
Max Drawdown (1Y)Largest decline over 1 year | -14.16% | -0.84% | -13.32% |
Max Drawdown (3Y)Largest decline over 3 years | -28.72% | -0.96% | -27.76% |
Max Drawdown (5Y)Largest decline over 5 years | -57.63% | -5.71% | -51.92% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.71% | — |
Current DrawdownCurrent decline from peak | -56.47% | -0.28% | -56.19% |
Average DrawdownAverage peak-to-trough decline | -39.91% | -1.72% | -38.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.21% | 0.21% | +6.00% |
Volatility
GOVZ vs. SPTS - Volatility Comparison
iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a higher volatility of 4.27% compared to SPDR Portfolio Short Term Treasury ETF (SPTS) at 0.34%. This indicates that GOVZ'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
| GOVZ | SPTS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.27% | 0.34% | +3.93% |
Volatility (6M)Calculated over the trailing 6-month period | 10.50% | 0.86% | +9.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.26% | 1.32% | +14.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.93% | 1.98% | +21.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.35% | 1.72% | +21.63% |
GOVZ vs. SPTS - Expense Ratio Comparison
GOVZ has a 0.15% expense ratio, which is higher than SPTS'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. SPTS - Dividend Comparison
GOVZ's dividend yield for the trailing twelve months is around 5.18%, more than SPTS's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 5.18% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% | 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
GOVZ and SPTS have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVZ has higher volatility (4.27%) compared to SPTS (0.34%). In terms of maximum drawdown, GOVZ dropped -59.65% vs SPTS's -5.83%.
On 5-year performance, SPTS leads with 1.81% vs -11.53% for GOVZ. On fees, SPTS is cheaper at 0.03% per year. On volatility, SPTS has been the lower-risk option at 0.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPTS has performed better with a 1.81% return vs -11.53%. 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 0.15% for GOVZ.
GOVZ has the higher dividend yield at 5.18%, compared with 3.91% for SPTS.
GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index, while SPTS tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.15% for GOVZ and 0.03% for SPTS.
SPTS currently has the higher Sharpe Ratio (2.63 vs 0.24), 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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