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 1-3 Year U.S. Treasury Index. Both are passively managed. Over the past 5 years, GOVZ returned -14.55%/yr vs 1.89%/yr for SPTS. Their 0.50 correlation means they have sometimes moved together and sometimes differently. 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 -6.61% return, which is significantly lower than SPTS's 0.83% 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%
SPTS
- 1D
- 0.08%
- 1M
- 0.08%
- 6M
- 0.72%
- YTD
- 0.83%
- 1Y
- 2.69%
- 3Y*
- 4.27%
- 5Y*
- 1.89%
- 10Y*
- 1.68%
- ALL TIME*
- 1.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.32M | $6.57M | $8.03M | |
| $24.96M | $29.50M | $39.95M |
GOVZ vs. SPTS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | -6.61% | -1.81% | -16.24% | 0.90% | -41.03% | -4.86% | -5.61% |
SPTS SPDR Portfolio Short Term Treasury ETF | 0.83% | 5.05% | 4.20% | 4.27% | -3.86% | -0.72% | 0.14% |
Correlation
The correlation between GOVZ and SPTS is 0.50, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.50 |
Correlation (3Y) Balances recent behavior with more history. | 0.52 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.53 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | 0.50 |
The correlation between GOVZ and SPTS has been stable across timeframes, ranging from 0.50 to 0.53 - 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.
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 | SPTS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.63 | ||
| Sortino ratioReturn per unit of downside risk | -3.83 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.42 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 3.22 | -3.70 |
| Martin ratioReturn relative to average drawdown | -0.96 | 12.57 | -13.53 |
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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 | -14.87% | -0.84% | -14.03% |
Max Drawdown (3Y)Largest decline over 3 years | -26.42% | -0.96% | -25.46% |
Max Drawdown (5Y)Largest decline over 5 years | -57.63% | -5.65% | -51.98% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.71% | — |
Current DrawdownCurrent decline from peak | -58.96% | 0.00% | -58.96% |
Average DrawdownAverage peak-to-trough decline | -40.35% | -1.70% | -38.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.33% | 0.21% | +7.12% |
Volatility
GOVZ vs. SPTS - Volatility Comparison
iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a higher volatility of 4.53% compared to SPDR Portfolio Short Term Treasury ETF (SPTS) at 0.38%. 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 | 4.53% | 0.38% | +4.15% |
Volatility (6M)Calculated over the trailing 6-month period | 11.06% | 1.01% | +10.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.52% | 1.25% | +14.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.80% | 2.00% | +21.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.17% | 1.70% | +21.47% |
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 5.53%, more than SPTS's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 5.53% | 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 | 3.87% | 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 0.50, 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 SPTS (0.38%). In terms of maximum drawdown, GOVZ dropped -59.65% vs SPTS's -5.83%.
On 5-year performance, SPTS leads with 1.89% vs -14.55% for GOVZ. On fees, SPTS is cheaper at 0.03% per year. On volatility, SPTS has been the lower-risk option at 0.38%. 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 1.89% return vs -14.55%. 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 5.53%, compared with 3.87% for SPTS.
GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index, while SPTS tracks Bloomberg 1-3 Year 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 SPTS.
SPTS currently has the higher Sharpe Ratio (2.17 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.
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