IBTR vs. SPTL

Last updated Jun 6, 2026

IBTR (iShares iBonds Dec 2036 Term Treasury ETF) and SPTL (SPDR Portfolio Long Term Treasury ETF) are both Government Bonds funds - IBTR tracks the ICE 2036 Maturity US Treasury Index while SPTL tracks the Bloomberg Long U.S. Treasury Index. Both are passively managed. Their correlation of 0.93 suggests significant overlap in exposure. IBTR charges 0.07%/yr vs 0.03%/yr for SPTL.

Performance

IBTR vs. SPTL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2036 Term Treasury ETF (IBTR) and SPDR Portfolio Long Term Treasury ETF (SPTL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBTR

• 1D: -0.48%
• 1M: -1.04%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPTL

• 1D: -0.54%
• 1M: -0.87%
• YTD: -0.73%
• 6M: -1.09%
• 1Y: 3.32%
• 3Y*: -0.93%
• 5Y*: -5.38%
• 10Y*: -1.12%

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

IBTR vs. SPTL - Yearly Performance Comparison

	2026 (YTD)
IBTR iShares iBonds Dec 2036 Term Treasury ETF	-0.01%
SPTL SPDR Portfolio Long Term Treasury ETF	0.06%

Correlation

The correlation between IBTR and SPTL is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 27, 2026	0.93

Return for Risk

IBTR vs. SPTL — Risk / Return Rank

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

SPTL

SPTL Risk / Return Rank: 15
SPTL Sharpe Ratio Rank: 15
SPTL Sortino Ratio Rank: 14
SPTL Omega Ratio Rank: 14
SPTL Calmar Ratio Rank: 15
SPTL Martin Ratio Rank: 15

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.

IBTR vs. SPTL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2036 Term Treasury ETF (IBTR) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IBTR	SPTL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.38	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.37	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.24	-0.25

Drawdowns

IBTR vs. SPTL - Drawdown Comparison

The maximum IBTR drawdown since its inception was -2.88%, smaller than the maximum SPTL drawdown of -46.20%. Use the drawdown chart below to compare losses from any high point for IBTR and SPTL.

Drawdown Indicators

	IBTR	SPTL	Difference
Max Drawdown Largest peak-to-trough decline	-2.88%	-46.20%	+43.32%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.04%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.55%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-41.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.20%	—
Current Drawdown Current decline from peak	-1.69%	-37.09%	+35.40%
Average Drawdown Average peak-to-trough decline	-0.89%	-14.25%	+13.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.72%	—

Volatility

Volatility by Period

	IBTR	SPTL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.53%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.99%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.39%	8.82%	-3.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.39%	14.61%	-9.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.39%	13.94%	-8.55%

IBTR vs. SPTL - Expense Ratio Comparison

IBTR 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

IBTR vs. SPTL - Dividend Comparison

IBTR's dividend yield for the trailing twelve months is around 0.67%, less than SPTL's 4.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBTR iShares iBonds Dec 2036 Term Treasury ETF	0.67%	0.00%	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	4.23%	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

Can I hold both IBTR and SPTL in my portfolio?

With a correlation of 0.93, IBTR 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.

Which ETF is better, IBTR or SPTL?

On fees, SPTL is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBTR or SPTL?

SPTL is cheaper with a 0.03% expense ratio, compared with 0.07% for IBTR.

Which ETF pays a higher dividend yield, IBTR or SPTL?

SPTL has the higher dividend yield at 4.23%, compared with 0.67% for IBTR.

What is the main difference between IBTR and SPTL?

IBTR tracks ICE 2036 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 IBTR and 0.03% for SPTL.