OBND vs. BYLD
Compare and contrast key facts about SPDR Loomis Sayles Opportunistic Bond ETF (OBND) and iShares Yield Optimized Bond ETF (BYLD).
OBND and BYLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OBND is an actively managed fund by State Street. It was launched on Sep 27, 2021. BYLD is a passively managed fund by iShares that tracks the performance of the Morningstar U.S. Bond Market Yield-Optimized Index. It was launched on Apr 22, 2014.
Performance
OBND vs. BYLD - Performance Comparison
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OBND vs. BYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OBND SPDR Loomis Sayles Opportunistic Bond ETF | -0.60% | 7.85% | 4.80% | 9.47% | -11.24% | 0.02% |
BYLD iShares Yield Optimized Bond ETF | -0.20% | 8.41% | 4.17% | 8.30% | -10.33% | 0.05% |
Returns By Period
In the year-to-date period, OBND achieves a -0.60% return, which is significantly lower than BYLD's -0.20% return.
OBND
- 1D
- 0.80%
- 1M
- -1.78%
- YTD
- -0.60%
- 6M
- 0.50%
- 1Y
- 5.23%
- 3Y*
- 6.11%
- 5Y*
- —
- 10Y*
- —
BYLD
- 1D
- 0.54%
- 1M
- -1.76%
- YTD
- -0.20%
- 6M
- 0.93%
- 1Y
- 5.97%
- 3Y*
- 6.04%
- 5Y*
- 2.16%
- 10Y*
- 3.00%
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OBND vs. BYLD - Expense Ratio Comparison
OBND has a 0.55% expense ratio, which is higher than BYLD's 0.17% expense ratio.
Return for Risk
OBND vs. BYLD — Risk / Return Rank
OBND
BYLD
OBND vs. BYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Loomis Sayles Opportunistic Bond ETF (OBND) and iShares Yield Optimized Bond ETF (BYLD). 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.
| OBND | BYLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.42 | 1.30 | +0.11 |
Sortino ratioReturn per unit of downside risk | 2.02 | 1.83 | +0.19 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.26 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.84 | 2.22 | -0.37 |
Martin ratioReturn relative to average drawdown | 7.17 | 8.14 | -0.97 |
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
| OBND | BYLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.42 | 1.30 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.42 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.55 | -0.13 |
Correlation
The correlation between OBND and BYLD is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
OBND vs. BYLD - Dividend Comparison
OBND's dividend yield for the trailing twelve months is around 6.34%, more than BYLD's 5.36% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OBND SPDR Loomis Sayles Opportunistic Bond ETF | 6.34% | 6.26% | 6.53% | 6.01% | 4.56% | 0.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BYLD iShares Yield Optimized Bond ETF | 5.36% | 5.32% | 5.31% | 4.45% | 3.39% | 2.18% | 3.41% | 3.67% | 4.22% | 3.22% | 3.14% | 3.37% |
Drawdowns
OBND vs. BYLD - Drawdown Comparison
The maximum OBND drawdown since its inception was -15.86%, which is greater than BYLD's maximum drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for OBND and BYLD.
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Drawdown Indicators
| OBND | BYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.86% | -14.75% | -1.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -2.72% | -0.16% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.65% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.75% | — |
Current DrawdownCurrent decline from peak | -1.85% | -1.76% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -4.56% | -2.54% | -2.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 0.74% | 0.00% |
Volatility
OBND vs. BYLD - Volatility Comparison
SPDR Loomis Sayles Opportunistic Bond ETF (OBND) and iShares Yield Optimized Bond ETF (BYLD) have volatilities of 1.89% and 1.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OBND | BYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 1.98% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.45% | 2.70% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.71% | 4.60% | -0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.69% | 5.16% | -0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.69% | 5.43% | -0.74% |