IBTP vs. SPTS
IBTP (iShares iBonds Dec 2034 Term Treasury ETF) and SPTS (SPDR Portfolio Short Term Treasury ETF) are both Government Bonds funds - IBTP tracks the ICE 2034 Maturity US Treasury Index while SPTS tracks the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past year, IBTP returned 4.34% vs 3.45% for SPTS. A 0.77 correlation means they provide meaningful diversification when combined. IBTP charges 0.07%/yr vs 0.03%/yr for SPTS.
Performance
IBTP vs. SPTS - Performance Comparison
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Returns By Period
In the year-to-date period, IBTP achieves a -0.59% return, which is significantly lower than SPTS's 0.45% return.
IBTP
- 1D
- -0.24%
- 1M
- -0.12%
- YTD
- -0.59%
- 6M
- -1.11%
- 1Y
- 4.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPTS
- 1D
- -0.07%
- 1M
- 0.05%
- YTD
- 0.45%
- 6M
- 0.77%
- 1Y
- 3.45%
- 3Y*
- 4.18%
- 5Y*
- 1.81%
- 10Y*
- 1.67%
IBTP vs. SPTS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBTP iShares iBonds Dec 2034 Term Treasury ETF | -0.59% | 8.16% | 0.42% |
SPTS SPDR Portfolio Short Term Treasury ETF | 0.45% | 5.05% | 3.22% |
Correlation
The correlation between IBTP and SPTS is 0.84, 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 | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2024 | 0.77 |
The correlation between IBTP and SPTS has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.
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Return for Risk
IBTP vs. SPTS — Risk / Return Rank
IBTP
SPTS
IBTP vs. SPTS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2034 Term Treasury ETF (IBTP) and SPDR Portfolio Short Term Treasury ETF (SPTS). 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.
| IBTP | SPTS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -3.09 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.55 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 4.13 | -3.03 |
| Martin ratioReturn relative to average drawdown | 3.25 | 16.52 | -13.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBTP | SPTS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 2.63 | -1.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.92 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.98 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.49 | +0.18 |
Drawdowns
IBTP vs. SPTS - Drawdown Comparison
The maximum IBTP drawdown since its inception was -7.40%, which is greater than SPTS's maximum drawdown of -5.83%. Use the drawdown chart below to compare losses from any high point for IBTP and SPTS.
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Drawdown Indicators
| IBTP | SPTS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.40% | -5.83% | -1.57% |
Max Drawdown (1Y)Largest decline over 1 year | -3.99% | -0.84% | -3.15% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.96% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.71% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.71% | — |
Current DrawdownCurrent decline from peak | -2.77% | -0.28% | -2.49% |
Average DrawdownAverage peak-to-trough decline | -2.11% | -1.72% | -0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 0.21% | +1.13% |
Volatility
IBTP vs. SPTS - Volatility Comparison
iShares iBonds Dec 2034 Term Treasury ETF (IBTP) has a higher volatility of 1.49% compared to SPDR Portfolio Short Term Treasury ETF (SPTS) at 0.34%. This indicates that IBTP's price experiences larger fluctuations and is considered to be riskier than SPTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTP | SPTS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 0.34% | +1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 3.27% | 0.86% | +2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.77% | 1.32% | +3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.96% | 1.98% | +3.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.96% | 1.72% | +4.24% |
IBTP vs. SPTS - Expense Ratio Comparison
IBTP has a 0.07% expense ratio, which is higher than SPTS'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
IBTP vs. SPTS - Dividend Comparison
IBTP's dividend yield for the trailing twelve months is around 4.05%, more than SPTS's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTP iShares iBonds Dec 2034 Term Treasury ETF | 4.05% | 3.92% | 1.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPTS SPDR Portfolio Short Term Treasury ETF | 3.91% | 3.99% | 4.25% | 3.61% | 1.27% | 0.19% | 0.70% | 2.21% | 2.04% | 1.20% | 0.95% | 0.83% |
Frequently Asked Questions
IBTP and SPTS have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBTP has higher volatility (1.49%) compared to SPTS (0.34%). In terms of maximum drawdown, IBTP dropped -7.40% vs SPTS's -5.83%.
On 1-year performance, IBTP leads with 4.34% vs 3.45% for SPTS. On fees, SPTS is cheaper at 0.03% per year. On volatility, SPTS has been the lower-risk option at 0.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBTP has performed better with a 4.34% return vs 3.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTS is cheaper with a 0.03% expense ratio, compared with 0.07% for IBTP.
IBTP has the higher dividend yield at 4.05%, compared with 3.91% for SPTS.
IBTP tracks ICE 2034 Maturity US Treasury Index, while SPTS tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.07% for IBTP and 0.03% for SPTS.
SPTS currently has the higher Sharpe Ratio (2.63 vs 0.91), 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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