IEF vs. SPLB
IEF (iShares 7-10 Year Treasury Bond ETF) and SPLB (SPDR Portfolio Long Term Corporate Bond ETF) are both exchange-traded funds - IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while SPLB is a Corporate Bonds fund tracking the Bloomberg Barclays Long U.S. Corporate Index. Both are passively managed. Over the past 10 years, IEF returned 0.59%/yr vs 2.20%/yr for SPLB. A 0.75 correlation means they provide meaningful diversification when combined. IEF charges 0.15%/yr vs 0.07%/yr for SPLB.
Performance
IEF vs. SPLB - Performance Comparison
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Returns By Period
In the year-to-date period, IEF achieves a -0.47% return, which is significantly lower than SPLB's 1.42% return. Over the past 10 years, IEF has underperformed SPLB with an annualized return of 0.59%, while SPLB has yielded a comparatively higher 2.20% annualized return.
IEF
- 1D
- -0.17%
- 1M
- 0.19%
- YTD
- -0.47%
- 6M
- -0.18%
- 1Y
- 3.39%
- 3Y*
- 2.86%
- 5Y*
- -1.24%
- 10Y*
- 0.59%
SPLB
- 1D
- -0.09%
- 1M
- 1.50%
- YTD
- 1.42%
- 6M
- 1.81%
- 1Y
- 5.82%
- 3Y*
- 4.70%
- 5Y*
- -2.10%
- 10Y*
- 2.20%
IEF vs. SPLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | -0.47% | 8.03% | -0.63% | 3.64% | -15.15% | -3.33% | 10.01% | 8.03% | 0.99% | 2.55% |
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 1.42% | 7.05% | -1.74% | 11.20% | -25.68% | -1.99% | 13.47% | 23.49% | -7.35% | 12.26% |
Correlation
The correlation between IEF and SPLB is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2009 | 0.75 |
The correlation between IEF and SPLB shifts across timeframes, from 0.75 (all time) to 0.89 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IEF vs. SPLB — Risk / Return Rank
IEF
SPLB
IEF vs. SPLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 7-10 Year Treasury Bond ETF (IEF) and SPDR Portfolio Long Term Corporate Bond ETF (SPLB). 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.
| IEF | SPLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.13 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 1.08 | -0.24 |
| Martin ratioReturn relative to average drawdown | 2.35 | 2.64 | -0.29 |
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Drawdowns
IEF vs. SPLB - Drawdown Comparison
The maximum IEF drawdown since its inception was -23.93%, smaller than the maximum SPLB drawdown of -34.46%. Use the drawdown chart below to compare losses from any high point for IEF and SPLB.
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Drawdown Indicators
| IEF | SPLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.93% | -34.46% | +10.53% |
Max Drawdown (1Y)Largest decline over 1 year | -4.07% | -5.42% | +1.35% |
Max Drawdown (3Y)Largest decline over 3 years | -7.74% | -12.91% | +5.17% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | -34.46% | +13.06% |
Max Drawdown (10Y)Largest decline over 10 years | -23.93% | -34.46% | +10.53% |
Current DrawdownCurrent decline from peak | -11.18% | -14.11% | +2.93% |
Average DrawdownAverage peak-to-trough decline | -5.35% | -8.02% | +2.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 2.21% | -0.76% |
Volatility
IEF vs. SPLB - Volatility Comparison
The current volatility for iShares 7-10 Year Treasury Bond ETF (IEF) is 1.62%, while SPDR Portfolio Long Term Corporate Bond ETF (SPLB) has a volatility of 2.50%. This indicates that IEF experiences smaller price fluctuations and is considered to be less risky than SPLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEF | SPLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 2.50% | -0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 5.98% | -2.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.72% | 8.07% | -3.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.71% | 12.71% | -5.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.63% | 12.95% | -6.32% |
IEF vs. SPLB - Expense Ratio Comparison
IEF has a 0.15% expense ratio, which is higher than SPLB's 0.07% 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
IEF vs. SPLB - Dividend Comparison
IEF's dividend yield for the trailing twelve months is around 3.89%, less than SPLB's 5.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | 3.89% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 5.35% | 5.25% | 5.20% | 4.60% | 4.53% | 3.00% | 3.01% | 3.79% | 4.50% | 4.06% | 4.34% | 4.70% |
Frequently Asked Questions
IEF and SPLB have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPLB has higher volatility (2.50%) compared to IEF (1.62%). In terms of maximum drawdown, IEF dropped -23.93% vs SPLB's -34.46%.
On 10-year performance, SPLB leads with 2.20% vs 0.59% for IEF. On fees, SPLB is cheaper at 0.07% per year. On volatility, IEF has been the lower-risk option at 1.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPLB has performed better with a 2.20% return vs 0.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPLB is cheaper with a 0.07% expense ratio, compared with 0.15% for IEF.
SPLB has the higher dividend yield at 5.35%, compared with 3.89% for IEF.
IEF is categorized as Government Bonds, while SPLB is Corporate Bonds. IEF tracks ICE U.S. Treasury 7-10 Year Bond Index, while SPLB tracks Bloomberg Barclays Long U.S. Corporate Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.15% for IEF and 0.07% for SPLB.
SPLB currently has the higher Sharpe Ratio (0.73 vs 0.72), 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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