IBGB vs. SPTL
IBGB (iShares iBonds Dec 2045 Term Treasury ETF) and SPTL (SPDR Portfolio Long Term Treasury ETF) are both Government Bonds funds - IBGB tracks the ICE 2045 Maturity US Treasury Index while SPTL tracks the Bloomberg Long U.S. Treasury Index. Both are passively managed. Over the past year, IBGB returned -0.26% vs -0.80% for SPTL. Their 0.99 correlation means they have historically moved very closely together. IBGB charges 0.07%/yr vs 0.03%/yr for SPTL.
Performance
IBGB vs. SPTL - Performance Comparison
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Returns By Period
In the year-to-date period, IBGB achieves a -1.86% return, which is significantly higher than SPTL's -2.10% return.
IBGB
- 1D
- 0.77%
- 1M
- -2.11%
- 6M
- -1.81%
- YTD
- -1.86%
- 1Y
- -0.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.52%
SPTL
- 1D
- 0.84%
- 1M
- -2.33%
- 6M
- -1.93%
- YTD
- -2.10%
- 1Y
- -0.80%
- 3Y*
- 0.23%
- 5Y*
- -6.98%
- 10Y*
- -1.66%
- ALL TIME*
- 3.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $32.56K | $33.15K | $77.72K | |
| $141.47M | $124.55M | $144.38M |
IBGB vs. SPTL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBGB iShares iBonds Dec 2045 Term Treasury ETF | -1.86% | 2.62% |
SPTL SPDR Portfolio Long Term Treasury ETF | -2.10% | 1.72% |
Correlation
The correlation between IBGB and SPTL is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | 0.99 |
The correlation between IBGB and SPTL has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
IBGB vs. SPTL — Risk / Return Rank
IBGB
SPTL
IBGB vs. SPTL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2045 Term Treasury ETF (IBGB) and SPDR Portfolio Long Term Treasury ETF (SPTL). 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.
| IBGB | SPTL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.99 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | -0.11 | +0.07 |
| Martin ratioReturn relative to average drawdown | -0.08 | -0.25 | +0.16 |
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Drawdowns
IBGB vs. SPTL - Drawdown Comparison
The maximum IBGB drawdown since its inception was -8.09%, smaller than the maximum SPTL drawdown of -46.20%. Use the drawdown chart below to compare losses from any high point for IBGB and SPTL.
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Drawdown Indicators
| IBGB | SPTL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.09% | -46.20% | +38.11% |
Max Drawdown (1Y)Largest decline over 1 year | -6.79% | -7.09% | +0.30% |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.39% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -41.02% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.20% | — |
Current DrawdownCurrent decline from peak | -5.59% | -37.96% | +32.37% |
Average DrawdownAverage peak-to-trough decline | -3.31% | -14.44% | +11.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 3.26% | -0.19% |
Volatility
IBGB vs. SPTL - Volatility Comparison
The current volatility for iShares iBonds Dec 2045 Term Treasury ETF (IBGB) is 2.36%, while SPDR Portfolio Long Term Treasury ETF (SPTL) has a volatility of 2.52%. This indicates that IBGB experiences smaller price fluctuations and is considered to be less risky than SPTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBGB | SPTL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 2.52% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 6.21% | 6.44% | -0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.02% | 8.46% | -0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.37% | 14.51% | -5.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.37% | 13.88% | -4.51% |
IBGB vs. SPTL - Expense Ratio Comparison
IBGB has a 0.07% expense ratio, which is higher than SPTL'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
IBGB vs. SPTL - Dividend Comparison
IBGB's dividend yield for the trailing twelve months is around 4.74%, more than SPTL's 4.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGB iShares iBonds Dec 2045 Term Treasury ETF | 4.74% | 3.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPTL SPDR Portfolio Long Term Treasury ETF | 4.32% | 4.12% | 4.03% | 3.24% | 2.75% | 1.68% | 1.71% | 2.45% | 2.69% | 2.53% | 2.56% | 2.60% |
Frequently Asked Questions
With a correlation of 0.99, IBGB and SPTL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SPTL has higher volatility (2.52%) compared to IBGB (2.36%). In terms of maximum drawdown, IBGB dropped -8.09% vs SPTL's -46.20%.
On 1-year performance, IBGB leads with -0.26% vs -0.80% for SPTL. On fees, SPTL is cheaper at 0.03% per year. On volatility, IBGB has been the lower-risk option at 2.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBGB has performed better with a -0.26% return vs -0.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTL is cheaper with a 0.03% expense ratio, compared with 0.07% for IBGB.
IBGB has the higher dividend yield at 4.74%, compared with 4.32% for SPTL.
IBGB tracks ICE 2045 Maturity US Treasury Index, while SPTL tracks Bloomberg Long U.S. Treasury Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.07% for IBGB and 0.03% for SPTL.
IBGB currently has the higher Sharpe Ratio (-0.03 vs -0.09), 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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