IGSB vs. SPBO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Short-Term Corporate Bond ETF (IGSB) and SPDR Portfolio Corporate Bond ETF (SPBO).

IGSB and SPBO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IGSB is a passively managed fund by iShares that tracks the performance of the ICE BofAML 1-5 Year US Corporate Index. It was launched on Jan 11, 2007. SPBO is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays U.S. Corporate Bond Index. It was launched on Apr 6, 2011. Both IGSB and SPBO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IGSB vs. SPBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Short-Term Corporate Bond ETF (IGSB) and SPDR Portfolio Corporate Bond ETF (SPBO). The values are adjusted to include any dividend payments, if applicable.

IGSB vs. SPBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGSB iShares Short-Term Corporate Bond ETF	0.14%	6.96%	4.97%	6.40%	-5.63%	-0.56%	5.37%	7.11%	1.25%	1.27%
SPBO SPDR Portfolio Corporate Bond ETF	-0.23%	7.83%	2.59%	8.80%	-15.68%	-1.57%	10.17%	14.70%	-1.79%	5.47%

Returns By Period

In the year-to-date period, IGSB achieves a 0.14% return, which is significantly higher than SPBO's -0.23% return. Over the past 10 years, IGSB has underperformed SPBO with an annualized return of 2.74%, while SPBO has yielded a comparatively higher 2.90% annualized return.

IGSB

• 1D: 0.27%
• 1M: -0.89%
• YTD: 0.14%
• 6M: 1.38%
• 1Y: 4.98%
• 3Y*: 5.48%
• 5Y*: 2.45%
• 10Y*: 2.74%

SPBO

• 1D: 0.57%
• 1M: -1.82%
• YTD: -0.23%
• 6M: 0.46%
• 1Y: 5.22%
• 3Y*: 4.96%
• 5Y*: 0.76%
• 10Y*: 2.90%

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

IGSB vs. SPBO - Expense Ratio Comparison

IGSB has a 0.06% expense ratio, which is higher than SPBO'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%.

IGSB

iShares Short-Term Corporate Bond ETF

SPBO

SPDR Portfolio Corporate Bond ETF

Return for Risk

IGSB vs. SPBO — Risk / Return Rank

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

IGSB

IGSB Risk / Return Rank: 94
IGSB Sharpe Ratio Rank: 93
IGSB Sortino Ratio Rank: 96
IGSB Omega Ratio Rank: 95
IGSB Calmar Ratio Rank: 93
IGSB Martin Ratio Rank: 94

SPBO

SPBO Risk / Return Rank: 58
SPBO Sharpe Ratio Rank: 57
SPBO Sortino Ratio Rank: 52
SPBO Omega Ratio Rank: 50
SPBO Calmar Ratio Rank: 73
SPBO Martin Ratio Rank: 60

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.

IGSB vs. SPBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Short-Term Corporate Bond ETF (IGSB) and SPDR Portfolio Corporate Bond ETF (SPBO). 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.

	IGSB	SPBO	Difference
Sharpe ratio Return per unit of total volatility	2.18	0.96	+1.22
Sortino ratio Return per unit of downside risk	3.22	1.32	+1.90
Omega ratio Gain probability vs. loss probability	1.45	1.18	+0.27
Calmar ratio Return relative to maximum drawdown	3.46	1.82	+1.63
Martin ratio Return relative to average drawdown	14.27	5.60	+8.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGSB vs. SPBO - Sharpe Ratio Comparison

The current IGSB Sharpe Ratio is 2.18, which is higher than the SPBO Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of IGSB and SPBO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IGSB	SPBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	0.96	+1.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.11	+0.74
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.39	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.47	+0.23

Correlation

The correlation between IGSB and SPBO is 0.55, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

IGSB vs. SPBO - Dividend Comparison

IGSB's dividend yield for the trailing twelve months is around 4.51%, less than SPBO's 5.12% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGSB iShares Short-Term Corporate Bond ETF	4.51%	4.44%	4.02%	3.26%	2.07%	1.82%	2.36%	3.06%	2.46%	1.65%	1.45%	1.18%
SPBO SPDR Portfolio Corporate Bond ETF	5.12%	5.09%	5.28%	4.73%	3.54%	2.42%	2.75%	3.46%	3.60%	3.15%	3.35%	3.07%

Drawdowns

IGSB vs. SPBO - Drawdown Comparison

The maximum IGSB drawdown since its inception was -13.38%, smaller than the maximum SPBO drawdown of -22.23%. Use the drawdown chart below to compare losses from any high point for IGSB and SPBO.

Drawdown Indicators

	IGSB	SPBO	Difference
Max Drawdown Largest peak-to-trough decline	-13.38%	-22.23%	+8.85%
Max Drawdown (1Y) Largest decline over 1 year	-1.46%	-2.96%	+1.50%
Max Drawdown (5Y) Largest decline over 5 years	-9.46%	-22.23%	+12.77%
Max Drawdown (10Y) Largest decline over 10 years	-13.38%	-22.23%	+8.85%
Current Drawdown Current decline from peak	-0.89%	-1.82%	+0.93%
Average Drawdown Average peak-to-trough decline	-0.85%	-4.07%	+3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.35%	0.96%	-0.61%

Volatility

IGSB vs. SPBO - Volatility Comparison

The current volatility for iShares Short-Term Corporate Bond ETF (IGSB) is 0.96%, while SPDR Portfolio Corporate Bond ETF (SPBO) has a volatility of 2.23%. This indicates that IGSB experiences smaller price fluctuations and is considered to be less risky than SPBO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGSB	SPBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	2.23%	-1.27%
Volatility (6M) Calculated over the trailing 6-month period	1.32%	3.07%	-1.75%
Volatility (1Y) Calculated over the trailing 1-year period	2.29%	5.44%	-3.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.91%	7.19%	-4.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.46%	7.49%	-4.03%