SPAB vs. QLTA
SPAB (SPDR Portfolio Aggregate Bond ETF) and QLTA (iShares Aaa - A Rated Corporate Bond ETF) are both exchange-traded funds - SPAB is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while QLTA is a Corporate Bonds fund tracking the Bloomberg U.S. Corporate Aaa - A Capped Index. Both are passively managed. Over the past 10 years, SPAB returned 1.54%/yr vs 2.00%/yr for QLTA. Their correlation of 0.84 suggests significant overlap in exposure. SPAB charges 0.03%/yr vs 0.15%/yr for QLTA.
Performance
SPAB vs. QLTA - Performance Comparison
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Returns By Period
In the year-to-date period, SPAB achieves a 0.29% return, which is significantly lower than QLTA's 0.31% return. Over the past 10 years, SPAB has underperformed QLTA with an annualized return of 1.54%, while QLTA has yielded a comparatively higher 2.00% annualized return.
SPAB
- 1D
- -0.12%
- 1M
- 0.31%
- YTD
- 0.29%
- 6M
- 0.14%
- 1Y
- 5.24%
- 3Y*
- 3.93%
- 5Y*
- 0.07%
- 10Y*
- 1.54%
QLTA
- 1D
- -0.19%
- 1M
- 0.50%
- YTD
- 0.31%
- 6M
- 0.04%
- 1Y
- 5.42%
- 3Y*
- 4.51%
- 5Y*
- 0.10%
- 10Y*
- 2.00%
SPAB vs. QLTA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPAB SPDR Portfolio Aggregate Bond ETF | 0.29% | 7.25% | 1.25% | 5.56% | -13.04% | -1.77% | 7.39% | 8.67% | -0.18% | 3.71% |
QLTA iShares Aaa - A Rated Corporate Bond ETF | 0.31% | 7.36% | 1.23% | 7.60% | -15.14% | -2.32% | 9.62% | 12.54% | -2.27% | 5.69% |
Correlation
The correlation between SPAB and QLTA is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Feb 17, 2012 | 0.84 |
The correlation between SPAB and QLTA shifts across timeframes, from 0.84 (all time) to 0.96 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPAB vs. QLTA — Risk / Return Rank
SPAB
QLTA
SPAB vs. QLTA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Aggregate Bond ETF (SPAB) and iShares Aaa - A Rated Corporate Bond ETF (QLTA). 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.
| SPAB | QLTA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.22 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 1.94 | -0.02 |
| Martin ratioReturn relative to average drawdown | 5.72 | 5.80 | -0.07 |
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
| SPAB | QLTA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | 1.25 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 0.01 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.29 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.40 | +0.11 |
Drawdowns
SPAB vs. QLTA - Drawdown Comparison
The maximum SPAB drawdown since its inception was -18.56%, smaller than the maximum QLTA drawdown of -22.27%. Use the drawdown chart below to compare losses from any high point for SPAB and QLTA.
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Drawdown Indicators
| SPAB | QLTA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.56% | -22.27% | +3.71% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -2.81% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -6.08% | -6.66% | +0.58% |
Max Drawdown (5Y)Largest decline over 5 years | -17.96% | -21.36% | +3.40% |
Max Drawdown (10Y)Largest decline over 10 years | -18.56% | -22.27% | +3.71% |
Current DrawdownCurrent decline from peak | -2.27% | -3.41% | +1.14% |
Average DrawdownAverage peak-to-trough decline | -3.08% | -4.68% | +1.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.94% | -0.02% |
Volatility
SPAB vs. QLTA - Volatility Comparison
The current volatility for SPDR Portfolio Aggregate Bond ETF (SPAB) is 1.15%, while iShares Aaa - A Rated Corporate Bond ETF (QLTA) has a volatility of 1.37%. This indicates that SPAB experiences smaller price fluctuations and is considered to be less risky than QLTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPAB | QLTA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 1.37% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 3.19% | -0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.77% | 4.37% | -0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 7.22% | -1.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.54% | 7.02% | -1.48% |
SPAB vs. QLTA - Expense Ratio Comparison
SPAB has a 0.03% expense ratio, which is lower than QLTA's 0.15% 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
SPAB vs. QLTA - Dividend Comparison
SPAB's dividend yield for the trailing twelve months is around 4.05%, less than QLTA's 4.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLTA iShares Aaa - A Rated Corporate Bond ETF | 4.47% | 4.33% | 4.11% | 3.39% | 2.79% | 1.96% | 2.31% | 2.99% | 3.09% | 2.67% | 2.59% | 2.99% |
SPAB SPDR Portfolio Aggregate Bond ETF | 4.05% | 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
With a correlation of 0.95, SPAB and QLTA 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.
QLTA has higher volatility (1.37%) compared to SPAB (1.15%). In terms of maximum drawdown, SPAB dropped -18.56% vs QLTA's -22.27%.
On 10-year performance, QLTA leads with 2.00% vs 1.54% for SPAB. On fees, SPAB is cheaper at 0.03% per year. On volatility, SPAB has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QLTA has performed better with a 2.00% return vs 1.54%. 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 0.15% for QLTA.
QLTA has the higher dividend yield at 4.47%, compared with 4.05% for SPAB.
SPAB is categorized as Total Bond Market, while QLTA is Corporate Bonds. SPAB tracks Bloomberg U.S. Aggregate Bond Index, while QLTA tracks Bloomberg U.S. Corporate Aaa - A Capped Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.03% for SPAB and 0.15% for QLTA.
SPAB currently has the higher Sharpe Ratio (1.40 vs 1.25), 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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