SLQD vs. SPSB
SLQD (iShares 0-5 Year Investment Grade Corporate Bond ETF) and SPSB (SPDR Portfolio Short Term Corporate Bond ETF) are both Corporate Bonds funds - SLQD tracks the Markit iBoxx USD Liquid Investment Grade 0-5 Index while SPSB tracks the Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index. Both are passively managed. Over the past 10 years, SLQD returned 2.63%/yr vs 2.60%/yr for SPSB. A 0.65 correlation means they provide meaningful diversification when combined. SLQD charges 0.06%/yr vs 0.07%/yr for SPSB.
Performance
SLQD vs. SPSB - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SLQD having a 0.84% return and SPSB slightly higher at 0.87%. Both investments have delivered pretty close results over the past 10 years, with SLQD having a 2.63% annualized return and SPSB not far behind at 2.60%.
SLQD
- 1D
- -0.10%
- 1M
- 0.22%
- YTD
- 0.84%
- 6M
- 1.04%
- 1Y
- 4.09%
- 3Y*
- 5.38%
- 5Y*
- 2.54%
- 10Y*
- 2.63%
SPSB
- 1D
- -0.10%
- 1M
- 0.16%
- YTD
- 0.87%
- 6M
- 1.04%
- 1Y
- 3.98%
- 3Y*
- 5.31%
- 5Y*
- 2.73%
- 10Y*
- 2.60%
SLQD vs. SPSB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 0.84% | 6.27% | 4.94% | 5.98% | -4.38% | -0.61% | 4.76% | 6.09% | 1.09% | 2.12% |
SPSB SPDR Portfolio Short Term Corporate Bond ETF | 0.87% | 5.86% | 5.25% | 5.60% | -3.31% | -0.20% | 3.83% | 5.21% | 1.45% | 1.58% |
Correlation
The correlation between SLQD and SPSB is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013 | 0.65 |
Over the past year, SLQD and SPSB have become more correlated (0.92) than their long-term average of 0.65, meaning their price movements have been converging.
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Return for Risk
SLQD vs. SPSB — Risk / Return Rank
SLQD
SPSB
SLQD vs. SPSB - 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 Short Term Corporate Bond ETF (SPSB). 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 | SPSB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.64 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.86 | 4.58 | -0.72 |
| Martin ratioReturn relative to average drawdown | 17.40 | 21.10 | -3.70 |
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Drawdowns
SLQD vs. SPSB - Drawdown Comparison
The maximum SLQD drawdown since its inception was -12.69%, which is greater than SPSB's maximum drawdown of -11.75%. Use the drawdown chart below to compare losses from any high point for SLQD and SPSB.
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Drawdown Indicators
| SLQD | SPSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.69% | -11.75% | -0.94% |
Max Drawdown (1Y)Largest decline over 1 year | -1.06% | -0.87% | -0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -1.06% | -0.87% | -0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -7.63% | -5.96% | -1.67% |
Max Drawdown (10Y)Largest decline over 10 years | -12.69% | -11.75% | -0.94% |
Current DrawdownCurrent decline from peak | -0.22% | -0.20% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.87% | -0.54% | -0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.24% | 0.19% | +0.05% |
Volatility
SLQD vs. SPSB - Volatility Comparison
iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) has a higher volatility of 0.56% compared to SPDR Portfolio Short Term Corporate Bond ETF (SPSB) at 0.48%. This indicates that SLQD's price experiences larger fluctuations and is considered to be riskier than SPSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLQD | SPSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.56% | 0.48% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 1.18% | 1.01% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.53% | 1.37% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.45% | 1.99% | +0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.13% | 3.06% | +0.07% |
SLQD vs. SPSB - Expense Ratio Comparison
SLQD has a 0.06% expense ratio, which is lower than SPSB's 0.07% expense ratio. Despite the difference, 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. SPSB - Dividend Comparison
SLQD's dividend yield for the trailing twelve months is around 4.32%, less than SPSB's 4.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 4.32% | 4.15% | 3.71% | 2.99% | 2.00% | 1.67% | 2.34% | 2.89% | 2.55% | 1.98% | 1.81% | 1.43% |
SPSB SPDR Portfolio Short Term Corporate Bond ETF | 4.41% | 4.55% | 4.85% | 4.05% | 1.92% | 1.19% | 1.94% | 2.77% | 2.36% | 1.94% | 1.65% | 1.43% |
Frequently Asked Questions
With a correlation of 0.92, SLQD and SPSB 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.
SLQD has higher volatility (0.56%) compared to SPSB (0.48%). In terms of maximum drawdown, SLQD dropped -12.69% vs SPSB's -11.75%.
On 10-year performance, SLQD leads with 2.63% vs 2.60% for SPSB. On fees, SLQD is cheaper at 0.06% per year. Their volatility is very similar. 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 2.63% return vs 2.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLQD is cheaper with a 0.06% expense ratio, compared with 0.07% for SPSB.
SPSB has the higher dividend yield at 4.41%, compared with 4.32% for SLQD.
SLQD tracks Markit iBoxx USD Liquid Investment Grade 0-5 Index, while SPSB tracks Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.06% for SLQD and 0.07% for SPSB.
SPSB currently has the higher Sharpe Ratio (2.93 vs 2.70), 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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