IBTH vs. SPTL
IBTH (iShares iBonds Dec 2027 Term Treasury ETF) and SPTL (SPDR Portfolio Long Term Treasury ETF) are both Government Bonds funds - IBTH tracks the ICE 2027 Maturity US Treasury Index while SPTL tracks the Bloomberg Long U.S. Treasury Index. Both are passively managed. Over the past 5 years, IBTH returned 0.55%/yr vs -5.00%/yr for SPTL. A 0.75 correlation means they provide meaningful diversification when combined. IBTH charges 0.07%/yr vs 0.03%/yr for SPTL.
Performance
IBTH vs. SPTL - Performance Comparison
Loading charts...
Returns By Period
IBTH
- 1D
- -0.02%
- 1M
- 0.18%
- YTD
- 0.94%
- 6M
- 1.33%
- 1Y
- 3.81%
- 3Y*
- 3.93%
- 5Y*
- 0.55%
- 10Y*
- —
SPTL
- 1D
- 0.23%
- 1M
- 0.43%
- YTD
- 0.00%
- 6M
- -1.07%
- 1Y
- 5.50%
- 3Y*
- -0.57%
- 5Y*
- -5.00%
- 10Y*
- -1.08%
IBTH vs. SPTL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBTH iShares iBonds Dec 2027 Term Treasury ETF | 0.94% | 5.29% | 3.22% | 4.38% | -9.75% | -3.43% | 4.20% |
SPTL SPDR Portfolio Long Term Treasury ETF | 0.00% | 5.28% | -6.23% | 3.30% | -29.44% | -4.99% | 3.16% |
Correlation
The correlation between IBTH and SPTL is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2020 | 0.75 |
Over the past year, the correlation between IBTH and SPTL has dropped to 0.54 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBTH vs. SPTL — Risk / Return Rank
IBTH
SPTL
IBTH vs. SPTL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2027 Term Treasury ETF (IBTH) 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.
| IBTH | SPTL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.44 | 0.62 | +2.82 |
Sortino ratioReturn per unit of downside risk | 6.25 | 0.95 | +5.31 |
Omega ratioGain probability vs. loss probability | 1.88 | 1.11 | +0.77 |
Calmar ratioReturn relative to maximum drawdown | 9.82 | 0.66 | +9.16 |
Martin ratioReturn relative to average drawdown | 38.04 | 1.72 | +36.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IBTH | SPTL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.44 | 0.62 | +2.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | -0.34 | +0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.08 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.24 | -0.09 |
Drawdowns
IBTH vs. SPTL - Drawdown Comparison
The maximum IBTH drawdown since its inception was -16.16%, smaller than the maximum SPTL drawdown of -46.20%. Use the drawdown chart below to compare losses from any high point for IBTH and SPTL.
Loading charts...
Drawdown Indicators
| IBTH | SPTL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.16% | -46.20% | +30.04% |
Max Drawdown (1Y)Largest decline over 1 year | -0.38% | -7.04% | +6.66% |
Max Drawdown (3Y)Largest decline over 3 years | -2.10% | -17.55% | +15.45% |
Max Drawdown (5Y)Largest decline over 5 years | -14.41% | -41.02% | +26.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.20% | — |
Current DrawdownCurrent decline from peak | -1.34% | -36.63% | +35.29% |
Average DrawdownAverage peak-to-trough decline | -6.72% | -14.24% | +7.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.10% | 2.68% | -2.58% |
Volatility
IBTH vs. SPTL - Volatility Comparison
The current volatility for iShares iBonds Dec 2027 Term Treasury ETF (IBTH) is 0.19%, while SPDR Portfolio Long Term Treasury ETF (SPTL) has a volatility of 2.69%. This indicates that IBTH 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.
Loading charts...
Volatility by Period
| IBTH | SPTL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 2.69% | -2.50% |
Volatility (6M)Calculated over the trailing 6-month period | 0.54% | 6.08% | -5.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.12% | 8.95% | -7.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.20% | 14.63% | -10.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.21% | 13.95% | -9.74% |
IBTH vs. SPTL - Expense Ratio Comparison
IBTH 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
IBTH vs. SPTL - Dividend Comparison
IBTH's dividend yield for the trailing twelve months is around 3.83%, less than SPTL's 4.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTH iShares iBonds Dec 2027 Term Treasury ETF | 3.83% | 3.92% | 4.04% | 3.61% | 2.00% | 0.77% | 0.50% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPTL SPDR Portfolio Long Term Treasury ETF | 4.20% | 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
IBTH and SPTL have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPTL has higher volatility (2.69%) compared to IBTH (0.19%). In terms of maximum drawdown, IBTH dropped -16.16% vs SPTL's -46.20%.
On 5-year performance, IBTH leads with 0.55% vs -5.00% for SPTL. On fees, SPTL is cheaper at 0.03% per year. On volatility, IBTH has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBTH has performed better with a 0.55% return vs -5.00%. 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 IBTH.
SPTL has the higher dividend yield at 4.20%, compared with 3.83% for IBTH.
IBTH tracks ICE 2027 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 IBTH and 0.03% for SPTL.
IBTH currently has the higher Sharpe Ratio (3.44 vs 0.62), 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.
Find the right allocation for IBTH and SPTL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer