OBIL vs. SPTL
OBIL (US Treasury 12 Month Bill ETF) and SPTL (SPDR Portfolio Long Term Treasury ETF) are both Government Bonds funds - OBIL tracks the ICE BofA US 1-Year Treasury Bill Index - Benchmark TR Gross while SPTL tracks the Bloomberg Long U.S. Treasury Index. Both are passively managed. Over the past 3 years, OBIL returned 4.50%/yr vs -0.59%/yr for SPTL. Their 0.46 correlation means their historical movements had little consistent relationship. OBIL charges 0.15%/yr vs 0.03%/yr for SPTL.
Performance
OBIL vs. SPTL - Performance Comparison
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Returns By Period
In the year-to-date period, OBIL achieves a 1.68% return, which is significantly higher than SPTL's -3.28% return.
OBIL
- 1D
- 0.00%
- 1M
- 0.25%
- 6M
- 1.40%
- YTD
- 1.68%
- 1Y
- 3.43%
- 3Y*
- 4.50%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.32%
SPTL
- 1D
- -0.67%
- 1M
- -3.50%
- 6M
- -3.17%
- YTD
- -3.28%
- 1Y
- -1.73%
- 3Y*
- -0.59%
- 5Y*
- -7.09%
- 10Y*
- -1.81%
- ALL TIME*
- 3.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.88M | $2.35M | $2.17M | |
| $141.08M | $126.11M | $146.73M |
OBIL vs. SPTL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OBIL US Treasury 12 Month Bill ETF | 1.68% | 4.19% | 4.94% | 4.69% | 0.50% |
SPTL SPDR Portfolio Long Term Treasury ETF | -3.28% | 5.28% | -6.23% | 3.30% | 2.38% |
Correlation
The correlation between OBIL and SPTL is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.45 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2022 | 0.46 |
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Return for Risk
OBIL vs. SPTL — Risk / Return Rank
OBIL
SPTL
OBIL vs. SPTL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 12 Month Bill ETF (OBIL) and SPDR Portfolio Long Term Treasury ETF (SPTL). 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.
| OBIL | SPTL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.37 | ||
| Sortino ratioReturn per unit of downside risk | +12.76 | ||
| Omega ratioGain probability vs. loss probability | 3.21 | 1.00 | +2.21 |
| Calmar ratioReturn relative to maximum drawdown | 24.87 | -0.06 | +24.93 |
| Martin ratioReturn relative to average drawdown | 121.02 | -0.14 | +121.15 |
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Drawdowns
OBIL vs. SPTL - Drawdown Comparison
The maximum OBIL drawdown since its inception was -0.33%, smaller than the maximum SPTL drawdown of -46.20%. Use the drawdown chart below to compare losses from any high point for OBIL and SPTL.
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Drawdown Indicators
| OBIL | SPTL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.33% | -46.20% | +45.87% |
Max Drawdown (1Y)Largest decline over 1 year | -0.15% | -7.09% | +6.94% |
Max Drawdown (3Y)Largest decline over 3 years | -0.21% | -13.39% | +13.18% |
Max Drawdown (5Y)Largest decline over 5 years | — | -41.02% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.20% | — |
Current DrawdownCurrent decline from peak | 0.00% | -38.71% | +38.71% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -14.43% | +14.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 3.21% | -3.18% |
Volatility
OBIL vs. SPTL - Volatility Comparison
The current volatility for US Treasury 12 Month Bill ETF (OBIL) is 0.19%, while SPDR Portfolio Long Term Treasury ETF (SPTL) has a volatility of 2.26%. This indicates that OBIL experiences smaller price fluctuations and is considered to be less risky than SPTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OBIL | SPTL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 2.26% | -2.07% |
Volatility (6M)Calculated over the trailing 6-month period | 0.41% | 6.39% | -5.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.59% | 8.51% | -7.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.81% | 14.50% | -13.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.81% | 13.88% | -13.07% |
OBIL vs. SPTL - Expense Ratio Comparison
OBIL has a 0.15% expense ratio, which is higher than SPTL'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%.
Dividends
OBIL vs. SPTL - Dividend Comparison
OBIL's dividend yield for the trailing twelve months is around 3.93%, less than SPTL's 4.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OBIL US Treasury 12 Month Bill ETF | 3.60% | 3.83% | 4.56% | 4.92% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPTL SPDR Portfolio Long Term Treasury ETF | 3.99% | 4.12% | 4.03% | 3.24% | 2.75% | 1.68% | 1.71% | 2.45% | 2.69% | 2.53% | 2.56% | 2.60% |
Frequently Asked Questions
OBIL and SPTL have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPTL has higher volatility (2.26%) compared to OBIL (0.19%). In terms of maximum drawdown, OBIL dropped -0.33% vs SPTL's -46.20%.
On 3-year performance, OBIL leads with 4.50% vs -0.59% for SPTL. On fees, SPTL is cheaper at 0.03% per year. On volatility, OBIL has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, OBIL has performed better with a 4.50% return vs -0.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTL is cheaper with a 0.03% expense ratio, compared with 0.15% for OBIL.
SPTL has the higher dividend yield at 3.99%, compared with 3.60% for OBIL.
OBIL tracks ICE BofA US 1-Year Treasury Bill Index - Benchmark TR Gross, while SPTL tracks Bloomberg Long U.S. Treasury Index. They also come from different issuers: US Benchmark Series and State Street. Their fees differ too: 0.15% for OBIL and 0.03% for SPTL.
OBIL currently has the higher Sharpe Ratio (6.32 vs -0.05), 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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