IBGL vs. SPTB

Last updated Jun 4, 2026

IBGL (iShares iBonds Dec 2055 Term Treasury ETF) and SPTB (State Street SPDR Portfolio Treasury ETF) are both Government Bonds funds - IBGL tracks the ICE 2055 Maturity US Treasury Index while SPTB tracks the Bloomberg U.S. Treasury Index. Both are passively managed. Over the past year, IBGL returned 4.56% vs 3.87% for SPTB. Their correlation of 0.92 suggests significant overlap in exposure. IBGL charges 0.07%/yr vs 0.03%/yr for SPTB.

Performance

IBGL vs. SPTB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2055 Term Treasury ETF (IBGL) and State Street SPDR Portfolio Treasury ETF (SPTB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBGL achieves a -0.23% return, which is significantly lower than SPTB's -0.07% return.

IBGL

• 1D: -0.35%
• 1M: 0.74%
• YTD: -0.23%
• 6M: -1.85%
• 1Y: 4.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPTB

• 1D: -0.22%
• 1M: 0.08%
• YTD: -0.07%
• 6M: -0.37%
• 1Y: 3.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBGL vs. SPTB - Yearly Performance Comparison

	2026 (YTD)	2025
IBGL iShares iBonds Dec 2055 Term Treasury ETF	-0.23%	0.99%
SPTB State Street SPDR Portfolio Treasury ETF	-0.07%	3.97%

Correlation

The correlation between IBGL and SPTB is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	0.92

The correlation between IBGL and SPTB has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

Return for Risk

IBGL vs. SPTB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBGL

IBGL Risk / Return Rank: 17
IBGL Sharpe Ratio Rank: 17
IBGL Sortino Ratio Rank: 16
IBGL Omega Ratio Rank: 15
IBGL Calmar Ratio Rank: 17
IBGL Martin Ratio Rank: 17

SPTB

SPTB Risk / Return Rank: 29
SPTB Sharpe Ratio Rank: 29
SPTB Sortino Ratio Rank: 30
SPTB Omega Ratio Rank: 28
SPTB Calmar Ratio Rank: 28
SPTB Martin Ratio Rank: 28

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBGL vs. SPTB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2055 Term Treasury ETF (IBGL) and State Street SPDR Portfolio Treasury ETF (SPTB). 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.

	IBGL	SPTB	Difference
Sharpe ratio: Return per unit of total volatility	0.49	1.07	-0.58
Sortino ratio: Return per unit of downside risk	0.78	1.62	-0.84
Omega ratio: Gain probability vs. loss probability	1.09	1.19	-0.10
Calmar ratio: Return relative to maximum drawdown	0.63	1.34	-0.71
Martin ratio: Return relative to average drawdown	1.58	3.98	-2.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBGL vs. SPTB - Sharpe Ratio Comparison

The current IBGL Sharpe Ratio is 0.49, which is lower than the SPTB Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of IBGL and SPTB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBGL	SPTB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.49	1.07	-0.58
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.92	-0.86

Drawdowns

IBGL vs. SPTB - Drawdown Comparison

The maximum IBGL drawdown since its inception was -9.37%, which is greater than SPTB's maximum drawdown of -4.96%. Use the drawdown chart below to compare losses from any high point for IBGL and SPTB.

Drawdown Indicators

	IBGL	SPTB	Difference
Max Drawdown Largest peak-to-trough decline	-9.37%	-4.96%	-4.41%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-2.90%	-4.33%
Current Drawdown Current decline from peak	-4.38%	-1.94%	-2.44%
Average Drawdown Average peak-to-trough decline	-4.03%	-1.32%	-2.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	0.98%	+1.91%

Volatility

IBGL vs. SPTB - Volatility Comparison

iShares iBonds Dec 2055 Term Treasury ETF (IBGL) has a higher volatility of 2.67% compared to State Street SPDR Portfolio Treasury ETF (SPTB) at 1.11%. This indicates that IBGL's price experiences larger fluctuations and is considered to be riskier than SPTB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBGL	SPTB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	1.11%	+1.56%
Volatility (6M) Calculated over the trailing 6-month period	6.12%	2.47%	+3.65%
Volatility (1Y) Calculated over the trailing 1-year period	9.28%	3.64%	+5.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.53%	4.42%	+6.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.53%	4.42%	+6.11%

IBGL vs. SPTB - Expense Ratio Comparison

IBGL has a 0.07% expense ratio, which is higher than SPTB'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

IBGL vs. SPTB - Dividend Comparison

IBGL's dividend yield for the trailing twelve months is around 4.70%, more than SPTB's 4.20% yield.

Position	TTM	2025	2024
IBGL iShares iBonds Dec 2055 Term Treasury ETF	4.70%	3.52%	0.00%
SPTB State Street SPDR Portfolio Treasury ETF	4.20%	4.23%	2.76%

Frequently Asked Questions

Can I hold both IBGL and SPTB in my portfolio?

With a correlation of 0.92, IBGL and SPTB 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.

Which is riskier, IBGL or SPTB?

IBGL has higher volatility (2.67%) compared to SPTB (1.11%). In terms of maximum drawdown, IBGL dropped -9.37% vs SPTB's -4.96%.

Which ETF is better, IBGL or SPTB?

On 1-year performance, IBGL leads with 4.56% vs 3.87% for SPTB. On fees, SPTB is cheaper at 0.03% per year. On volatility, SPTB has been the lower-risk option at 1.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBGL or SPTB?

Over the 1-year period, IBGL has performed better with a 4.56% return vs 3.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBGL or SPTB?

SPTB is cheaper with a 0.03% expense ratio, compared with 0.07% for IBGL.

Which ETF pays a higher dividend yield, IBGL or SPTB?

IBGL has the higher dividend yield at 4.70%, compared with 4.20% for SPTB.

What is the main difference between IBGL and SPTB?

IBGL tracks ICE 2055 Maturity US Treasury Index, while SPTB tracks Bloomberg U.S. Treasury Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.07% for IBGL and 0.03% for SPTB.

Which has better risk-adjusted returns?

SPTB currently has the higher Sharpe Ratio (1.07 vs 0.49), 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.