SLQD vs. SPBO
SLQD (iShares 0-5 Year Investment Grade Corporate Bond ETF) and SPBO (SPDR Portfolio Corporate Bond ETF) are both Corporate Bonds funds - SLQD tracks the Markit iBoxx USD Liquid Investment Grade 0-5 Index while SPBO tracks the Bloomberg U.S. Corporate Bond Index. Both are passively managed. Over the past 10 years, SLQD returned 2.60%/yr vs 2.42%/yr for SPBO. Their 0.61 correlation means they have sometimes moved together and sometimes differently. SLQD charges 0.06%/yr vs 0.03%/yr for SPBO.
Performance
SLQD vs. SPBO - Performance Comparison
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Returns By Period
In the year-to-date period, SLQD achieves a 1.10% return, which is significantly higher than SPBO's -0.59% return. Over the past 10 years, SLQD has outperformed SPBO with an annualized return of 2.60%, while SPBO has yielded a comparatively lower 2.42% annualized return.
SLQD
- 1D
- -0.05%
- 1M
- -0.14%
- 6M
- 0.70%
- YTD
- 1.10%
- 1Y
- 3.24%
- 3Y*
- 5.31%
- 5Y*
- 2.53%
- 10Y*
- 2.60%
- ALL TIME*
- 2.50%
SPBO
- 1D
- -0.21%
- 1M
- -1.66%
- 6M
- -0.96%
- YTD
- -0.59%
- 1Y
- 1.97%
- 3Y*
- 5.03%
- 5Y*
- -0.13%
- 10Y*
- 2.42%
- ALL TIME*
- 3.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $10.60M | $10.54M | $10.26M | |
| $11.42M | $13.99M | $18.95M |
SLQD vs. SPBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 1.10% | 6.27% | 4.94% | 5.98% | -4.38% | -0.61% | 4.76% | 6.09% | 1.09% | 2.12% |
SPBO SPDR Portfolio Corporate Bond ETF | -0.59% | 7.83% | 2.59% | 8.80% | -15.68% | -1.57% | 10.17% | 14.70% | -1.79% | 5.47% |
Correlation
The correlation between SLQD and SPBO is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.83 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013 | 0.61 |
Over the past year, SLQD and SPBO have become more correlated (0.84) than their long-term average of 0.61, meaning their price movements have been converging.
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Return for Risk
SLQD vs. SPBO — Risk / Return Rank
SLQD
SPBO
SLQD vs. SPBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) 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.
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.
| SLQD | SPBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.78 | ||
| Sortino ratioReturn per unit of downside risk | +2.82 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.11 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 0.97 | +2.53 |
| Martin ratioReturn relative to average drawdown | 15.40 | 2.71 | +12.69 |
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Drawdowns
SLQD vs. SPBO - Drawdown Comparison
The maximum SLQD drawdown since its inception was -12.69%, smaller than the maximum SPBO drawdown of -22.23%. Use the drawdown chart below to compare losses from any high point for SLQD and SPBO.
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Drawdown Indicators
| SLQD | SPBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.69% | -22.23% | +9.54% |
Max Drawdown (1Y)Largest decline over 1 year | -1.06% | -2.87% | +1.81% |
Max Drawdown (3Y)Largest decline over 3 years | -1.06% | -5.25% | +4.19% |
Max Drawdown (5Y)Largest decline over 5 years | -7.60% | -22.23% | +14.63% |
Max Drawdown (10Y)Largest decline over 10 years | -12.69% | -22.23% | +9.54% |
Current DrawdownCurrent decline from peak | -0.17% | -2.17% | +2.00% |
Average DrawdownAverage peak-to-trough decline | -0.86% | -4.01% | +3.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.24% | 1.02% | -0.78% |
Volatility
SLQD vs. SPBO - Volatility Comparison
The current volatility for iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) is 0.42%, while SPDR Portfolio Corporate Bond ETF (SPBO) has a volatility of 1.22%. This indicates that SLQD experiences smaller price fluctuations and is considered to be less risky 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
| SLQD | SPBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | 1.22% | -0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 1.24% | 3.43% | -2.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.54% | 4.34% | -2.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.45% | 7.18% | -4.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.13% | 7.49% | -4.36% |
SLQD vs. SPBO - Expense Ratio Comparison
SLQD has a 0.06% expense ratio, which is higher than SPBO'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
SLQD vs. SPBO - Dividend Comparison
SLQD's dividend yield for the trailing twelve months is around 4.34%, less than SPBO's 5.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 3.99% | 4.15% | 3.71% | 2.99% | 2.00% | 1.67% | 2.34% | 2.89% | 2.55% | 1.98% | 1.81% | 1.43% |
SPBO SPDR Portfolio Corporate Bond ETF | 4.76% | 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
SLQD and SPBO have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPBO has higher volatility (1.22%) compared to SLQD (0.42%). In terms of maximum drawdown, SLQD dropped -12.69% vs SPBO's -22.23%.
On 10-year performance, SLQD leads with 2.60% vs 2.42% for SPBO. On fees, SPBO is cheaper at 0.03% per year. On volatility, SLQD has been the lower-risk option at 0.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SLQD has performed better with a 2.60% return vs 2.42%. 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 0.06% for SLQD.
SPBO has the higher dividend yield at 4.76%, compared with 3.99% for SLQD.
SLQD tracks Markit iBoxx USD Liquid Investment Grade 0-5 Index, while SPBO tracks Bloomberg U.S. Corporate Bond Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.06% for SLQD and 0.03% for SPBO.
SLQD currently has the higher Sharpe Ratio (2.42 vs 0.64), 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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