KORP vs. SPBO
KORP (American Century Diversified Corporate Bond ETF) and SPBO (SPDR Portfolio Corporate Bond ETF) are both Corporate Bonds funds. KORP is actively managed, while SPBO is passively managed. Over the past 5 years, KORP returned 1.76%/yr vs 0.66%/yr for SPBO. Their correlation of 0.84 suggests significant overlap in exposure. KORP charges 0.29%/yr vs 0.03%/yr for SPBO.
Performance
KORP vs. SPBO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with KORP having a 0.69% return and SPBO slightly higher at 0.70%.
KORP
- 1D
- -0.23%
- 1M
- 0.60%
- YTD
- 0.69%
- 6M
- 0.54%
- 1Y
- 6.42%
- 3Y*
- 5.79%
- 5Y*
- 1.76%
- 10Y*
- —
SPBO
- 1D
- -0.21%
- 1M
- 0.67%
- YTD
- 0.70%
- 6M
- 0.47%
- 1Y
- 6.29%
- 3Y*
- 5.54%
- 5Y*
- 0.66%
- 10Y*
- 2.77%
KORP vs. SPBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
KORP American Century Diversified Corporate Bond ETF | 0.69% | 8.14% | 3.82% | 7.40% | -10.04% | -0.55% | 6.99% | 10.08% | -1.20% |
SPBO SPDR Portfolio Corporate Bond ETF | 0.70% | 7.83% | 2.59% | 8.80% | -15.68% | -1.57% | 10.17% | 14.70% | -1.79% |
Correlation
The correlation between KORP and SPBO is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2018 | 0.84 |
The correlation between KORP and SPBO shifts across timeframes, from 0.84 (all time) to 0.98 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
KORP vs. SPBO — Risk / Return Rank
KORP
SPBO
KORP vs. SPBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century Diversified Corporate Bond ETF (KORP) 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.
| KORP | SPBO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.48 | 1.45 | +0.03 |
Sortino ratioReturn per unit of downside risk | 2.15 | 2.12 | +0.03 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.26 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 2.00 | 2.20 | -0.20 |
Martin ratioReturn relative to average drawdown | 6.64 | 6.94 | -0.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KORP | SPBO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 1.45 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.09 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.47 | +0.11 |
Drawdowns
KORP vs. SPBO - Drawdown Comparison
The maximum KORP drawdown since its inception was -14.90%, smaller than the maximum SPBO drawdown of -22.23%. Use the drawdown chart below to compare losses from any high point for KORP and SPBO.
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Drawdown Indicators
| KORP | SPBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.90% | -22.23% | +7.33% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -2.87% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -5.04% | -6.41% | +1.37% |
Max Drawdown (5Y)Largest decline over 5 years | -14.90% | -22.23% | +7.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.23% | — |
Current DrawdownCurrent decline from peak | -1.07% | -0.91% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -4.04% | +0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.91% | +0.06% |
Volatility
KORP vs. SPBO - Volatility Comparison
American Century Diversified Corporate Bond ETF (KORP) has a higher volatility of 1.44% compared to SPDR Portfolio Corporate Bond ETF (SPBO) at 1.35%. This indicates that KORP's price experiences larger fluctuations and is considered to be riskier than SPBO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KORP | SPBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 1.35% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 3.29% | 3.21% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.36% | 4.36% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.36% | 7.18% | -1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.92% | 7.49% | -2.57% |
KORP vs. SPBO - Expense Ratio Comparison
KORP has a 0.29% expense ratio, which is higher than SPBO's 0.03% expense ratio.
Dividends
KORP vs. SPBO - Dividend Comparison
KORP's dividend yield for the trailing twelve months is around 4.69%, less than SPBO's 5.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KORP American Century Diversified Corporate Bond ETF | 4.69% | 4.98% | 5.08% | 4.42% | 2.89% | 1.86% | 3.22% | 3.20% | 2.97% | 0.00% | 0.00% | 0.00% |
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% |
Frequently Asked Questions
With a correlation of 0.98, KORP and SPBO 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.
KORP has higher volatility (1.44%) compared to SPBO (1.35%). In terms of maximum drawdown, KORP dropped -14.90% vs SPBO's -22.23%.
On 5-year performance, KORP leads with 1.76% vs 0.66% for SPBO. On fees, SPBO is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KORP has performed better with a 1.76% return vs 0.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPBO is cheaper with a 0.03% expense ratio, compared with 0.29% for KORP.
SPBO has the higher dividend yield at 5.12%, compared with 4.69% for KORP.
They also come from different issuers: American Century and State Street. Their fees differ too: 0.29% for KORP and 0.03% for SPBO.
KORP currently has the higher Sharpe Ratio (1.48 vs 1.45), 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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