IIGD vs. SPSB
IIGD (Invesco Investment Grade Defensive ETF) and SPSB (SPDR Portfolio Short Term Corporate Bond ETF) are both Corporate Bonds funds - IIGD tracks the Invesco Investment Grade Defensive Index while SPSB tracks the Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index. Both are passively managed. Over the past 5 years, IIGD returned 1.63%/yr vs 2.69%/yr for SPSB. A 0.77 correlation means they provide meaningful diversification when combined. IIGD charges 0.13%/yr vs 0.07%/yr for SPSB.
Performance
IIGD vs. SPSB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IIGD achieves a 0.25% return, which is significantly lower than SPSB's 0.84% return.
IIGD
- 1D
- -0.10%
- 1M
- 0.05%
- YTD
- 0.25%
- 6M
- 0.49%
- 1Y
- 4.13%
- 3Y*
- 5.07%
- 5Y*
- 1.63%
- 10Y*
- —
SPSB
- 1D
- -0.07%
- 1M
- 0.26%
- YTD
- 0.84%
- 6M
- 1.17%
- 1Y
- 4.29%
- 3Y*
- 5.29%
- 5Y*
- 2.69%
- 10Y*
- 2.63%
IIGD vs. SPSB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IIGD Invesco Investment Grade Defensive ETF | 0.25% | 7.11% | 3.90% | 5.71% | -7.27% | -1.42% | 6.30% | 7.40% | 0.86% |
SPSB SPDR Portfolio Short Term Corporate Bond ETF | 0.84% | 5.86% | 5.25% | 5.60% | -3.31% | -0.20% | 3.83% | 5.21% | 0.82% |
Correlation
The correlation between IIGD and SPSB is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2018 | 0.77 |
The correlation between IIGD and SPSB shifts across timeframes, from 0.77 (all time) to 0.89 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IIGD vs. SPSB — Risk / Return Rank
IIGD
SPSB
IIGD vs. SPSB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Investment Grade Defensive ETF (IIGD) and SPDR Portfolio Short Term Corporate Bond ETF (SPSB). 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.
| IIGD | SPSB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.44 | ||
| Sortino ratioReturn per unit of downside risk | -2.61 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.72 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.49 | 4.94 | -2.45 |
| Martin ratioReturn relative to average drawdown | 8.72 | 22.90 | -14.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IIGD | SPSB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.81 | 3.25 | -1.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 1.36 | -0.91 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.87 | -0.10 |
Drawdowns
IIGD vs. SPSB - Drawdown Comparison
The maximum IIGD drawdown since its inception was -11.43%, roughly equal to the maximum SPSB drawdown of -11.75%. Use the drawdown chart below to compare losses from any high point for IIGD and SPSB.
Loading charts...
Drawdown Indicators
| IIGD | SPSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.43% | -11.75% | +0.32% |
Max Drawdown (1Y)Largest decline over 1 year | -1.67% | -0.87% | -0.80% |
Max Drawdown (3Y)Largest decline over 3 years | -2.14% | -0.87% | -1.27% |
Max Drawdown (5Y)Largest decline over 5 years | -11.43% | -5.96% | -5.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -11.75% | — |
Current DrawdownCurrent decline from peak | -0.80% | -0.14% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -2.42% | -0.54% | -1.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 0.19% | +0.28% |
Volatility
IIGD vs. SPSB - Volatility Comparison
Invesco Investment Grade Defensive ETF (IIGD) has a higher volatility of 0.75% compared to SPDR Portfolio Short Term Corporate Bond ETF (SPSB) at 0.35%. This indicates that IIGD's price experiences larger fluctuations and is considered to be riskier than SPSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IIGD | SPSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 0.35% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 1.65% | 0.94% | +0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.29% | 1.33% | +0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.66% | 1.98% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.70% | 3.06% | +0.64% |
IIGD vs. SPSB - Expense Ratio Comparison
IIGD has a 0.13% expense ratio, which is higher than SPSB'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
IIGD vs. SPSB - Dividend Comparison
IIGD's dividend yield for the trailing twelve months is around 4.28%, less than SPSB's 4.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IIGD Invesco Investment Grade Defensive ETF | 4.28% | 4.25% | 4.13% | 3.74% | 1.73% | 1.77% | 3.21% | 2.44% | 1.23% | 0.00% | 0.00% | 0.00% |
SPSB SPDR Portfolio Short Term Corporate Bond ETF | 4.41% | 4.55% | 4.85% | 4.05% | 1.92% | 1.19% | 1.94% | 2.77% | 2.36% | 1.94% | 1.65% | 1.43% |
Frequently Asked Questions
IIGD and SPSB have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IIGD has higher volatility (0.75%) compared to SPSB (0.35%). In terms of maximum drawdown, IIGD dropped -11.43% vs SPSB's -11.75%.
On 5-year performance, SPSB leads with 2.69% vs 1.63% for IIGD. On fees, SPSB is cheaper at 0.07% per year. On volatility, SPSB has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPSB has performed better with a 2.69% return vs 1.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPSB is cheaper with a 0.07% expense ratio, compared with 0.13% for IIGD.
SPSB has the higher dividend yield at 4.41%, compared with 4.28% for IIGD.
IIGD tracks Invesco Investment Grade Defensive Index, while SPSB tracks Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.13% for IIGD and 0.07% for SPSB.
SPSB currently has the higher Sharpe Ratio (3.25 vs 1.81), 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.
Find the right allocation for IIGD and SPSB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer