SPAB vs. IBND
SPAB (SPDR Portfolio Aggregate Bond ETF) and IBND (SPDR Bloomberg Barclays International Corporate Bond ETF) are both exchange-traded funds - SPAB is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while IBND is a Corporate Bonds fund tracking the Bloomberg Global Aggregate x USD >$1B: Corporate Bond. Both are passively managed. Over the past 10 years, SPAB returned 1.39%/yr vs 0.56%/yr for IBND. At a 0.33 correlation, their price movements are largely independent. SPAB charges 0.03%/yr vs 0.50%/yr for IBND.
Performance
SPAB vs. IBND - Performance Comparison
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Returns By Period
In the year-to-date period, SPAB achieves a -0.19% return, which is significantly higher than IBND's -2.74% return. Over the past 10 years, SPAB has outperformed IBND with an annualized return of 1.39%, while IBND has yielded a comparatively lower 0.56% annualized return.
SPAB
- 1D
- -0.36%
- 1M
- -0.72%
- 6M
- -0.42%
- YTD
- -0.19%
- 1Y
- 3.60%
- 3Y*
- 3.74%
- 5Y*
- -0.22%
- 10Y*
- 1.39%
IBND
- 1D
- -0.68%
- 1M
- -1.81%
- 6M
- -2.62%
- YTD
- -2.74%
- 1Y
- -1.37%
- 3Y*
- 4.39%
- 5Y*
- -1.48%
- 10Y*
- 0.56%
SPAB vs. IBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPAB SPDR Portfolio Aggregate Bond ETF | -0.19% | 7.25% | 1.25% | 5.56% | -13.04% | -1.77% | 7.39% | 8.67% | -0.18% | 3.71% |
IBND SPDR Bloomberg Barclays International Corporate Bond ETF | -2.74% | 16.17% | -2.81% | 10.38% | -19.44% | -8.40% | 11.50% | 4.41% | -6.15% | 14.84% |
Correlation
The correlation between SPAB and IBND is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since May 20, 2010 | 0.33 |
Over the past year, SPAB and IBND have become more correlated (0.60) than their long-term average of 0.33, meaning their price movements have been converging.
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Return for Risk
SPAB vs. IBND — Risk / Return Rank
SPAB
IBND
SPAB vs. IBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Aggregate Bond ETF (SPAB) and SPDR Bloomberg Barclays International Corporate Bond ETF (IBND). 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.
| SPAB | IBND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.15 | ||
| Sortino ratioReturn per unit of downside risk | +1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.98 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | -0.20 | +1.52 |
| Martin ratioReturn relative to average drawdown | 3.58 | -0.48 | +4.06 |
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Drawdowns
SPAB vs. IBND - Drawdown Comparison
The maximum SPAB drawdown since its inception was -18.56%, smaller than the maximum IBND drawdown of -35.62%. Use the drawdown chart below to compare losses from any high point for SPAB and IBND.
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Drawdown Indicators
| SPAB | IBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.56% | -35.62% | +17.06% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -6.75% | +4.01% |
Max Drawdown (3Y)Largest decline over 3 years | -6.08% | -9.18% | +3.10% |
Max Drawdown (5Y)Largest decline over 5 years | -17.96% | -33.49% | +15.53% |
Max Drawdown (10Y)Largest decline over 10 years | -18.56% | -35.62% | +17.06% |
Current DrawdownCurrent decline from peak | -2.74% | -10.97% | +8.23% |
Average DrawdownAverage peak-to-trough decline | -3.07% | -10.63% | +7.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 2.84% | -1.83% |
Volatility
SPAB vs. IBND - Volatility Comparison
The current volatility for SPDR Portfolio Aggregate Bond ETF (SPAB) is 1.27%, while SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) has a volatility of 2.12%. This indicates that SPAB experiences smaller price fluctuations and is considered to be less risky than IBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPAB | IBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 2.12% | -0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 6.37% | -3.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.72% | 8.01% | -4.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.94% | 9.76% | -3.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.55% | 8.92% | -3.37% |
SPAB vs. IBND - Expense Ratio Comparison
SPAB has a 0.03% expense ratio, which is lower than IBND's 0.50% expense ratio.
Dividends
SPAB vs. IBND - Dividend Comparison
SPAB's dividend yield for the trailing twelve months is around 4.10%, more than IBND's 2.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBND SPDR Bloomberg Barclays International Corporate Bond ETF | 2.81% | 2.49% | 2.61% | 2.08% | 0.54% | 0.38% | 0.45% | 0.67% | 0.71% | 0.34% | 0.01% | 0.01% |
SPAB SPDR Portfolio Aggregate Bond ETF | 4.10% | 3.97% | 3.86% | 3.34% | 2.59% | 2.11% | 2.43% | 2.92% | 2.96% | 2.67% | 2.63% | 2.59% |
Frequently Asked Questions
SPAB and IBND have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBND has higher volatility (2.12%) compared to SPAB (1.27%). In terms of maximum drawdown, SPAB dropped -18.56% vs IBND's -35.62%.
On 10-year performance, SPAB leads with 1.39% vs 0.56% for IBND. On fees, SPAB is cheaper at 0.03% per year. On volatility, SPAB has been the lower-risk option at 1.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPAB has performed better with a 1.39% return vs 0.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPAB is cheaper with a 0.03% expense ratio, compared with 0.50% for IBND.
SPAB has the higher dividend yield at 4.10%, compared with 2.81% for IBND.
SPAB is categorized as Total Bond Market, while IBND is Corporate Bonds. SPAB tracks Bloomberg U.S. Aggregate Bond Index, while IBND tracks Bloomberg Global Aggregate x USD >$1B: Corporate Bond. Their fees differ too: 0.03% for SPAB and 0.50% for IBND.
SPAB currently has the higher Sharpe Ratio (0.98 vs -0.17), 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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