IS04.DE vs. SPPX.DE
IS04.DE (iShares USD Treasury Bond 20+yr UCITS ETF (Dist)) and SPPX.DE (SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF) are both Government Bonds funds - IS04.DE tracks the ICE U.S. Treasury 20+ Year Bond Index while SPPX.DE tracks the Bloomberg US 10+ Year Treasury Bond. Both are passively managed. Over the past 10 years, IS04.DE returned -2.08%/yr vs -1.66%/yr for SPPX.DE. With a 0.96 correlation, they move nearly in lockstep. IS04.DE charges 0.07%/yr vs 0.15%/yr for SPPX.DE.
Performance
IS04.DE vs. SPPX.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IS04.DE having a 5.35% return and SPPX.DE slightly lower at 5.09%. Over the past 10 years, IS04.DE has underperformed SPPX.DE with an annualized return of -2.08%, while SPPX.DE has yielded a comparatively higher -1.66% annualized return.
IS04.DE
- 1D
- 0.00%
- 1M
- 5.35%
- YTD
- 5.35%
- 6M
- 5.74%
- 1Y
- 7.72%
- 3Y*
- -2.70%
- 5Y*
- -5.14%
- 10Y*
- -2.08%
SPPX.DE
- 1D
- -0.11%
- 1M
- 5.04%
- YTD
- 5.09%
- 6M
- 5.56%
- 1Y
- 7.67%
- 3Y*
- -1.69%
- 5Y*
- -4.26%
- 10Y*
- -1.66%
IS04.DE vs. SPPX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS04.DE iShares USD Treasury Bond 20+yr UCITS ETF (Dist) | 5.35% | -7.08% | -2.45% | -1.26% | -25.93% | 3.50% | 6.45% | 18.16% | 2.87% | -4.41% |
SPPX.DE SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF | 5.09% | -6.02% | -0.97% | -0.77% | -24.28% | 3.04% | 6.12% | 17.93% | 2.67% | -4.61% |
Correlation
The correlation between IS04.DE and SPPX.DE 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 (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 17, 2016 | 0.96 |
The correlation between IS04.DE and SPPX.DE has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.
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Return for Risk
IS04.DE vs. SPPX.DE — Risk / Return Rank
IS04.DE
SPPX.DE
IS04.DE vs. SPPX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IS04.DE) and SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF (SPPX.DE). 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.
| IS04.DE | SPPX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.15 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | 1.21 | -0.18 |
| Martin ratioReturn relative to average drawdown | 2.21 | 2.62 | -0.41 |
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Drawdowns
IS04.DE vs. SPPX.DE - Drawdown Comparison
The maximum IS04.DE drawdown since its inception was -47.19%, which is greater than SPPX.DE's maximum drawdown of -44.59%. Use the drawdown chart below to compare losses from any high point for IS04.DE and SPPX.DE.
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Drawdown Indicators
| IS04.DE | SPPX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.19% | -44.59% | -2.60% |
Max Drawdown (1Y)Largest decline over 1 year | -7.43% | -6.30% | -1.13% |
Max Drawdown (3Y)Largest decline over 3 years | -18.34% | -16.53% | -1.81% |
Max Drawdown (5Y)Largest decline over 5 years | -39.96% | -36.55% | -3.41% |
Max Drawdown (10Y)Largest decline over 10 years | -47.19% | -44.59% | -2.60% |
Current DrawdownCurrent decline from peak | -41.19% | -38.37% | -2.82% |
Average DrawdownAverage peak-to-trough decline | -22.82% | -22.68% | -0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.49% | 2.92% | +0.57% |
Volatility
IS04.DE vs. SPPX.DE - Volatility Comparison
iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IS04.DE) has a higher volatility of 2.51% compared to SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF (SPPX.DE) at 2.39%. This indicates that IS04.DE's price experiences larger fluctuations and is considered to be riskier than SPPX.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS04.DE | SPPX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.51% | 2.39% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 6.75% | 6.21% | +0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.95% | 9.00% | +0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.27% | 14.21% | +1.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.65% | 16.48% | -1.83% |
IS04.DE vs. SPPX.DE - Expense Ratio Comparison
IS04.DE has a 0.07% expense ratio, which is lower than SPPX.DE's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IS04.DE vs. SPPX.DE - Dividend Comparison
IS04.DE's dividend yield for the trailing twelve months is around 4.51%, more than SPPX.DE's 4.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS04.DE iShares USD Treasury Bond 20+yr UCITS ETF (Dist) | 4.51% | 4.38% | 4.61% | 3.82% | 3.04% | 1.71% | 1.86% | 2.49% | 2.78% | 2.73% | 2.57% | 2.14% |
SPPX.DE SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF | 4.42% | 4.77% | 4.08% | 3.14% | 2.57% | 1.63% | 2.07% | 2.42% | 2.38% | 2.77% | 1.07% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, IS04.DE and SPPX.DE 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.
On fees, IS04.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS04.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for SPPX.DE.
IS04.DE tracks ICE U.S. Treasury 20+ Year Bond Index, while SPPX.DE tracks Bloomberg US 10+ Year Treasury Bond. They also come from different issuers: iShares and State Street. Their fees differ too: 0.07% for IS04.DE and 0.15% for SPPX.DE.
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