IBGK vs. SPTL
IBGK (iShares iBonds Dec 2054 Term Treasury ETF) and SPTL (SPDR Portfolio Long Term Treasury ETF) are both exchange-traded funds - IBGK is a Long-Term Bond fund tracking the ICE 2054 Maturity US Treasury Index, while SPTL is a Government Bonds fund tracking the Bloomberg Long U.S. Treasury Index. Both are passively managed. Over the past year, IBGK returned -1.96% vs -1.36% for SPTL. Their 0.99 correlation means they have historically moved very closely together. IBGK charges 0.07%/yr vs 0.03%/yr for SPTL.
Performance
IBGK vs. SPTL - Performance Comparison
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Returns By Period
In the year-to-date period, IBGK achieves a -3.18% return, which is significantly lower than SPTL's -2.92% return.
IBGK
- 1D
- 0.42%
- 1M
- -3.43%
- 6M
- -2.71%
- YTD
- -3.18%
- 1Y
- -1.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.45%
SPTL
- 1D
- 0.37%
- 1M
- -3.14%
- 6M
- -2.52%
- YTD
- -2.92%
- 1Y
- -1.36%
- 3Y*
- -0.05%
- 5Y*
- -7.23%
- 10Y*
- -1.74%
- ALL TIME*
- 3.10%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.80K | $17.29K | $31.57K | |
| $143.80M | $126.21M | $144.82M |
IBGK vs. SPTL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBGK iShares iBonds Dec 2054 Term Treasury ETF | -3.18% | 3.66% | -3.44% |
SPTL SPDR Portfolio Long Term Treasury ETF | -2.92% | 5.28% | -1.53% |
Correlation
The correlation between IBGK 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 Jun 12, 2024 | 0.99 |
The correlation between IBGK 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
IBGK vs. SPTL — Risk / Return Rank
IBGK
SPTL
IBGK vs. SPTL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2054 Term Treasury ETF (IBGK) 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.
| IBGK | 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 | 0.97 | 0.98 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | -0.19 | -0.07 |
| Martin ratioReturn relative to average drawdown | -0.57 | -0.42 | -0.15 |
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Drawdowns
IBGK vs. SPTL - Drawdown Comparison
The maximum IBGK drawdown since its inception was -14.62%, smaller than the maximum SPTL drawdown of -46.20%. Use the drawdown chart below to compare losses from any high point for IBGK and SPTL.
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Drawdown Indicators
| IBGK | SPTL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.62% | -46.20% | +31.58% |
Max Drawdown (1Y)Largest decline over 1 year | -7.48% | -7.09% | -0.39% |
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 | -11.76% | -38.48% | +26.72% |
Average DrawdownAverage peak-to-trough decline | -8.15% | -14.43% | +6.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 3.23% | +0.21% |
Volatility
IBGK vs. SPTL - Volatility Comparison
iShares iBonds Dec 2054 Term Treasury ETF (IBGK) has a higher volatility of 2.45% compared to SPDR Portfolio Long Term Treasury ETF (SPTL) at 2.32%. This indicates that IBGK's price experiences larger fluctuations and is considered to be riskier 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
| IBGK | SPTL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.45% | 2.32% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 6.58% | 6.39% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.86% | 8.43% | +0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.62% | 14.50% | -2.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.62% | 13.88% | -2.26% |
IBGK vs. SPTL - Expense Ratio Comparison
IBGK 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
IBGK vs. SPTL - Dividend Comparison
IBGK's dividend yield for the trailing twelve months is around 4.84%, more than SPTL's 4.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGK iShares iBonds Dec 2054 Term Treasury ETF | 4.84% | 4.59% | 3.15% | 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 | 4.36% | 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, IBGK 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.
IBGK has higher volatility (2.45%) compared to SPTL (2.32%). In terms of maximum drawdown, IBGK dropped -14.62% vs SPTL's -46.20%.
On 1-year performance, SPTL leads with -1.36% vs -1.96% for IBGK. On fees, SPTL is cheaper at 0.03% per year. On volatility, SPTL has been the lower-risk option at 2.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPTL has performed better with a -1.36% return vs -1.96%. 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 IBGK.
IBGK has the higher dividend yield at 4.84%, compared with 4.36% for SPTL.
IBGK is categorized as Long-Term Bond, while SPTL is Government Bonds. IBGK tracks ICE 2054 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 IBGK and 0.03% for SPTL.
SPTL currently has the higher Sharpe Ratio (-0.16 vs -0.22), 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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