IGHG vs. SPTS
IGHG (ProShares Investment Grade-Interest Rate Hedged) and SPTS (SPDR Portfolio Short Term Treasury ETF) are both exchange-traded funds - IGHG is a Corporate Bonds fund tracking the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index, while SPTS is a Government Bonds fund tracking the Bloomberg 1-3 Year U.S. Treasury Index. Both are passively managed. Over the past 10 years, IGHG returned 4.83%/yr vs 1.61%/yr for SPTS. At a correlation of -0.20, they often move in opposite directions. IGHG charges 0.30%/yr vs 0.03%/yr for SPTS.
Performance
IGHG vs. SPTS - Performance Comparison
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Returns By Period
In the year-to-date period, IGHG achieves a 2.08% return, which is significantly higher than SPTS's 0.41% return. Over the past 10 years, IGHG has outperformed SPTS with an annualized return of 4.83%, while SPTS has yielded a comparatively lower 1.61% annualized return.
IGHG
- 1D
- 0.08%
- 1M
- -0.02%
- YTD
- 2.08%
- 6M
- 2.05%
- 1Y
- 5.77%
- 3Y*
- 8.31%
- 5Y*
- 5.18%
- 10Y*
- 4.83%
SPTS
- 1D
- -0.10%
- 1M
- 0.12%
- YTD
- 0.41%
- 6M
- 0.55%
- 1Y
- 3.10%
- 3Y*
- 4.22%
- 5Y*
- 1.85%
- 10Y*
- 1.61%
IGHG vs. SPTS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGHG ProShares Investment Grade-Interest Rate Hedged | 2.08% | 5.65% | 9.20% | 11.58% | -0.90% | 0.88% | 0.61% | 12.73% | -3.96% | 4.49% |
SPTS SPDR Portfolio Short Term Treasury ETF | 0.41% | 5.05% | 4.20% | 4.27% | -3.86% | -0.72% | 3.23% | 3.56% | 1.08% | 0.59% |
Correlation
The correlation between IGHG and SPTS is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2013 | -0.20 |
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Return for Risk
IGHG vs. SPTS — Risk / Return Rank
IGHG
SPTS
IGHG vs. SPTS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Investment Grade-Interest Rate Hedged (IGHG) 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.
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.
| IGHG | SPTS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.48 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | 3.70 | -0.39 |
| Martin ratioReturn relative to average drawdown | 11.69 | 14.46 | -2.77 |
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Drawdowns
IGHG vs. SPTS - Drawdown Comparison
The maximum IGHG drawdown since its inception was -25.16%, which is greater than SPTS's maximum drawdown of -5.83%. Use the drawdown chart below to compare losses from any high point for IGHG and SPTS.
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Drawdown Indicators
| IGHG | SPTS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.16% | -5.83% | -19.33% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | -0.84% | -0.91% |
Max Drawdown (3Y)Largest decline over 3 years | -3.74% | -0.96% | -2.78% |
Max Drawdown (5Y)Largest decline over 5 years | -8.75% | -5.71% | -3.04% |
Max Drawdown (10Y)Largest decline over 10 years | -25.16% | -5.71% | -19.45% |
Current DrawdownCurrent decline from peak | -0.25% | -0.31% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -2.29% | -1.72% | -0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 0.21% | +0.28% |
Volatility
IGHG vs. SPTS - Volatility Comparison
ProShares Investment Grade-Interest Rate Hedged (IGHG) has a higher volatility of 0.63% compared to SPDR Portfolio Short Term Treasury ETF (SPTS) at 0.46%. This indicates that IGHG'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
| IGHG | SPTS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.46% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.48% | 0.92% | +1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.41% | 1.34% | +2.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 1.99% | +3.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.46% | 1.71% | +5.75% |
IGHG vs. SPTS - Expense Ratio Comparison
IGHG has a 0.30% expense ratio, which is higher than SPTS's 0.03% expense ratio.
Dividends
IGHG vs. SPTS - Dividend Comparison
IGHG's dividend yield for the trailing twelve months is around 5.12%, more than SPTS's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGHG ProShares Investment Grade-Interest Rate Hedged | 5.12% | 5.14% | 5.06% | 4.99% | 3.55% | 2.50% | 2.79% | 3.48% | 4.13% | 3.36% | 3.37% | 3.65% |
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
IGHG and SPTS have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGHG has higher volatility (0.63%) compared to SPTS (0.46%). In terms of maximum drawdown, IGHG dropped -25.16% vs SPTS's -5.83%.
On 10-year performance, IGHG leads with 4.83% vs 1.61% for SPTS. On fees, SPTS is cheaper at 0.03% per year. On volatility, SPTS has been the lower-risk option at 0.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IGHG has performed better with a 4.83% return vs 1.61%. 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 0.30% for IGHG.
IGHG has the higher dividend yield at 5.12%, compared with 3.91% for SPTS.
IGHG is categorized as Corporate Bonds, while SPTS is Government Bonds. IGHG tracks Citi Corporate Investment Grade (Treasury Rate-Hedged) Index, while SPTS tracks Bloomberg 1-3 Year U.S. Treasury Index. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.30% for IGHG and 0.03% for SPTS.
SPTS currently has the higher Sharpe Ratio (2.33 vs 1.70), 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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