OBND vs. SPYG

Last updated Jun 4, 2026

OBND (SPDR Loomis Sayles Opportunistic Bond ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - OBND is a Nontraditional Bonds fund actively managed by State Street, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. OBND is actively managed, while SPYG is passively managed. Over the past 3 years, OBND returned 6.89%/yr vs 28.16%/yr for SPYG. At a 0.43 correlation, their price movements are largely independent. OBND charges 0.55%/yr vs 0.04%/yr for SPYG.

Performance

OBND vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Loomis Sayles Opportunistic Bond ETF (OBND) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OBND achieves a 1.31% return, which is significantly lower than SPYG's 13.75% return.

OBND

• 1D: -0.23%
• 1M: 0.37%
• YTD: 1.31%
• 6M: 1.22%
• 1Y: 6.61%
• 3Y*: 6.89%
• 5Y*: —
• 10Y*: —

SPYG

• 1D: -0.98%
• 1M: 7.38%
• YTD: 13.75%
• 6M: 13.57%
• 1Y: 33.95%
• 3Y*: 28.16%
• 5Y*: 16.07%
• 10Y*: 18.20%

*Multi-year figures are annualized to reflect compound growth (CAGR)

OBND vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
OBND SPDR Loomis Sayles Opportunistic Bond ETF	1.31%	7.85%	4.80%	9.47%	-11.24%	0.02%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	13.75%	22.09%	35.99%	30.02%	-29.41%	12.50%

Correlation

The correlation between OBND and SPYG is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021	0.43

The correlation between OBND and SPYG shifts across timeframes, from 0.36 (3 years) to 0.47 (1 year), reflecting how their relationship changes across market environments.

OBND vs. SPYG - Sectors Allocation Comparison

Sectors	OBND	SPYG
Financial Services	98.1%	8.5%
Energy	0.6%	0.1%
Technology	0.5%	51.9%
Consumer Defensive	0.3%	1.0%
Healthcare	0.2%	5.8%
Communication Services	0.2%	16.8%
Real Estate	0.1%	0.6%
Consumer Cyclical	0.0%	8.9%
Basic Materials	-	0.3%
Industrials	-	5.0%
Utilities	-	1.2%

Return for Risk

OBND vs. SPYG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OBND

OBND Risk / Return Rank: 58
OBND Sharpe Ratio Rank: 58
OBND Sortino Ratio Rank: 64
OBND Omega Ratio Rank: 62
OBND Calmar Ratio Rank: 47
OBND Martin Ratio Rank: 58

SPYG

SPYG Risk / Return Rank: 57
SPYG Sharpe Ratio Rank: 62
SPYG Sortino Ratio Rank: 60
SPYG Omega Ratio Rank: 59
SPYG Calmar Ratio Rank: 49
SPYG Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OBND vs. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Loomis Sayles Opportunistic Bond ETF (OBND) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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	SPYG	Difference
Sharpe ratio Return per unit of total volatility	1.97	2.12	-0.16
Sortino ratio Return per unit of downside risk	2.95	2.90	+0.05
Omega ratio Gain probability vs. loss probability	1.37	1.37	+0.01
Calmar ratio Return relative to maximum drawdown	2.30	2.48	-0.17
Martin ratio Return relative to average drawdown	10.09	10.25	-0.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OBND vs. SPYG - Sharpe Ratio Comparison

The current OBND Sharpe Ratio is 1.97, which is comparable to the SPYG Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of OBND and SPYG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OBND	SPYG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	2.12	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.76	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.35	+0.14

Drawdowns

OBND vs. SPYG - Drawdown Comparison

The maximum OBND drawdown since its inception was -15.86%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for OBND and SPYG.

Drawdown Indicators

	OBND	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-15.86%	-67.63%	+51.77%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	-13.76%	+10.88%
Max Drawdown (3Y) Largest decline over 3 years	-3.17%	-22.14%	+18.97%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.67%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.67%	—
Current Drawdown Current decline from peak	-0.29%	-1.13%	+0.84%
Average Drawdown Average peak-to-trough decline	-4.41%	-24.33%	+19.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	3.32%	-2.66%

Volatility

OBND vs. SPYG - Volatility Comparison

The current volatility for SPDR Loomis Sayles Opportunistic Bond ETF (OBND) is 1.08%, while State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a volatility of 4.35%. This indicates that OBND experiences smaller price fluctuations and is considered to be less risky than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OBND	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	4.35%	-3.27%
Volatility (6M) Calculated over the trailing 6-month period	2.68%	12.46%	-9.78%
Volatility (1Y) Calculated over the trailing 1-year period	3.38%	16.06%	-12.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.66%	21.17%	-16.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.66%	20.64%	-15.98%

OBND vs. SPYG - Expense Ratio Comparison

OBND has a 0.55% expense ratio, which is higher than SPYG's 0.04% expense ratio.

Dividends

OBND vs. SPYG - Dividend Comparison

OBND's dividend yield for the trailing twelve months is around 6.28%, more than SPYG's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OBND SPDR Loomis Sayles Opportunistic Bond ETF	6.28%	6.26%	6.53%	6.01%	4.56%	0.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.47%	0.52%	0.60%	1.15%	1.03%	0.62%	0.90%	1.37%	1.51%	1.41%	1.55%	1.57%

Frequently Asked Questions

Can I hold both OBND and SPYG in my portfolio?

OBND and SPYG have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OBND or SPYG?

SPYG has higher volatility (4.35%) compared to OBND (1.08%). In terms of maximum drawdown, OBND dropped -15.86% vs SPYG's -67.63%.

Which ETF is better, OBND or SPYG?

On 3-year performance, SPYG leads with 28.16% vs 6.89% for OBND. On fees, SPYG is cheaper at 0.04% per year. On volatility, OBND has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OBND or SPYG?

Over the 3-year period, SPYG has performed better with a 28.16% return vs 6.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OBND or SPYG?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.55% for OBND.

Which ETF pays a higher dividend yield, OBND or SPYG?

OBND has the higher dividend yield at 6.28%, compared with 0.47% for SPYG.

What is the main difference between OBND and SPYG?

OBND is categorized as Nontraditional Bonds, while SPYG is S&P 500. Their fees differ too: 0.55% for OBND and 0.04% for SPYG.

Which has better risk-adjusted returns?

SPYG currently has the higher Sharpe Ratio (2.12 vs 1.97), 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.