GSY vs. SPTU
GSY (Invesco Ultra Short Duration ETF) and SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) are both Ultrashort Bond funds. GSY is actively managed, while SPTU is passively managed. At a 0.12 correlation, their price movements are largely independent. GSY charges 0.22%/yr vs 0.05%/yr for SPTU.
Performance
GSY vs. SPTU - Performance Comparison
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Returns By Period
In the year-to-date period, GSY achieves a 1.79% return, which is significantly higher than SPTU's 1.63% return.
GSY
- 1D
- 0.03%
- 1M
- 0.35%
- YTD
- 1.79%
- 6M
- 1.87%
- 1Y
- 4.45%
- 3Y*
- 5.42%
- 5Y*
- 3.69%
- 10Y*
- 2.86%
SPTU
- 1D
- -0.01%
- 1M
- 0.25%
- YTD
- 1.63%
- 6M
- 1.75%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GSY vs. SPTU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GSY Invesco Ultra Short Duration ETF | 1.79% | 1.02% |
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF | 1.63% | 0.87% |
Correlation
The correlation between GSY and SPTU is 0.12, 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 8, 2025 | 0.12 |
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Return for Risk
GSY vs. SPTU — Risk / Return Rank
GSY
SPTU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GSY vs. SPTU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Ultra Short Duration ETF (GSY) 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.
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.
| GSY | SPTU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 6.07 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 74.56 | — | — |
| Martin ratioReturn relative to average drawdown | 349.93 | — | — |
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Drawdowns
GSY vs. SPTU - Drawdown Comparison
The maximum GSY drawdown since its inception was -12.14%, which is greater than SPTU's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for GSY and SPTU.
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Drawdown Indicators
| GSY | SPTU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.14% | -0.04% | -12.10% |
Max Drawdown (1Y)Largest decline over 1 year | -0.06% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -0.18% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -1.48% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -5.25% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.01% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -2.38% | -0.00% | -2.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | — | — |
Volatility
GSY vs. SPTU - Volatility Comparison
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Volatility by Period
| GSY | SPTU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.31% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.41% | 0.33% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 0.33% | +0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.22% | 0.33% | +0.89% |
GSY vs. SPTU - Expense Ratio Comparison
GSY has a 0.22% expense ratio, which is higher than SPTU's 0.05% 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
GSY vs. SPTU - Dividend Comparison
GSY's dividend yield for the trailing twelve months is around 4.70%, more than SPTU's 2.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSY Invesco Ultra Short Duration ETF | 4.70% | 4.56% | 5.31% | 4.95% | 1.70% | 0.58% | 1.45% | 2.71% | 2.30% | 1.80% | 1.21% | 1.17% |
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
GSY and SPTU have a correlation of 0.12, 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 0.22% for GSY.
GSY has the higher dividend yield at 4.70%, compared with 2.36% for SPTU.
They also come from different issuers: Invesco and State Street. Their fees differ too: 0.22% for GSY and 0.05% for SPTU.
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