SPAB vs. VEA
SPAB (SPDR Portfolio Aggregate Bond ETF) and VEA (Vanguard FTSE Developed Markets ETF) are both exchange-traded funds - SPAB is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while VEA is a Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index. Both are passively managed. Over the past 10 years, SPAB returned 1.54%/yr vs 10.72%/yr for VEA. At a correlation of -0.06, they often move in opposite directions. Both charge a 0.03% expense ratio.
Performance
SPAB vs. VEA - Performance Comparison
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Returns By Period
In the year-to-date period, SPAB achieves a 0.53% return, which is significantly lower than VEA's 14.73% return. Over the past 10 years, SPAB has underperformed VEA with an annualized return of 1.54%, while VEA has yielded a comparatively higher 10.72% annualized return.
SPAB
- 1D
- -0.08%
- 1M
- 1.06%
- YTD
- 0.53%
- 6M
- 0.89%
- 1Y
- 4.87%
- 3Y*
- 4.18%
- 5Y*
- 0.04%
- 10Y*
- 1.54%
VEA
- 1D
- 0.34%
- 1M
- 3.58%
- YTD
- 14.73%
- 6M
- 16.65%
- 1Y
- 31.41%
- 3Y*
- 19.03%
- 5Y*
- 9.51%
- 10Y*
- 10.72%
SPAB vs. VEA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPAB SPDR Portfolio Aggregate Bond ETF | 0.53% | 7.25% | 1.25% | 5.56% | -13.04% | -1.77% | 7.39% | 8.67% | -0.18% | 3.71% |
VEA Vanguard FTSE Developed Markets ETF | 14.73% | 35.16% | 3.15% | 17.93% | -15.34% | 11.66% | 9.71% | 22.62% | -14.75% | 26.42% |
Correlation
The correlation between SPAB and VEA is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2007 | -0.06 |
The correlation between SPAB and VEA shifts across timeframes, from -0.06 (all time) to 0.44 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPAB vs. VEA — Risk / Return Rank
SPAB
VEA
SPAB vs. VEA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Aggregate Bond ETF (SPAB) and Vanguard FTSE Developed Markets ETF (VEA). 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 | VEA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.33 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 2.58 | -0.93 |
| Martin ratioReturn relative to average drawdown | 4.71 | 9.92 | -5.21 |
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Drawdowns
SPAB vs. VEA - Drawdown Comparison
The maximum SPAB drawdown since its inception was -18.56%, smaller than the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for SPAB and VEA.
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Drawdown Indicators
| SPAB | VEA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.56% | -60.68% | +42.12% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -11.63% | +8.89% |
Max Drawdown (3Y)Largest decline over 3 years | -6.08% | -13.45% | +7.37% |
Max Drawdown (5Y)Largest decline over 5 years | -17.96% | -29.71% | +11.75% |
Max Drawdown (10Y)Largest decline over 10 years | -18.56% | -35.73% | +17.17% |
Current DrawdownCurrent decline from peak | -2.04% | -1.06% | -0.98% |
Average DrawdownAverage peak-to-trough decline | -3.08% | -13.28% | +10.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 3.02% | -2.06% |
Volatility
SPAB vs. VEA - Volatility Comparison
The current volatility for SPDR Portfolio Aggregate Bond ETF (SPAB) is 1.23%, while Vanguard FTSE Developed Markets ETF (VEA) has a volatility of 6.84%. This indicates that SPAB experiences smaller price fluctuations and is considered to be less risky than VEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPAB | VEA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 6.84% | -5.61% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 14.38% | -11.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 16.58% | -12.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 16.72% | -10.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.54% | 17.40% | -11.86% |
SPAB vs. VEA - Expense Ratio Comparison
Both SPAB and VEA have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SPAB vs. VEA - Dividend Comparison
SPAB's dividend yield for the trailing twelve months is around 4.04%, more than VEA's 2.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPAB SPDR Portfolio Aggregate Bond ETF | 4.04% | 3.97% | 3.86% | 3.34% | 2.59% | 2.11% | 2.43% | 2.92% | 2.96% | 2.67% | 2.63% | 2.59% |
VEA Vanguard FTSE Developed Markets ETF | 2.62% | 3.22% | 3.35% | 3.15% | 2.91% | 3.16% | 2.04% | 3.04% | 3.35% | 2.77% | 3.05% | 2.92% |
Frequently Asked Questions
SPAB and VEA have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VEA has higher volatility (6.84%) compared to SPAB (1.23%). In terms of maximum drawdown, SPAB dropped -18.56% vs VEA's -60.68%.
On 10-year performance, VEA leads with 10.72% vs 1.54% for SPAB. Both ETFs have the same 0.03% expense ratio. On volatility, SPAB has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VEA has performed better with a 10.72% return vs 1.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPAB and VEA have the same expense ratio: 0.03% per year.
SPAB has the higher dividend yield at 4.04%, compared with 2.62% for VEA.
SPAB is categorized as Total Bond Market, while VEA is Foreign Large Cap Equities. SPAB tracks Bloomberg U.S. Aggregate Bond Index, while VEA tracks FTSE Developed All Cap ex US Index. They also come from different issuers: State Street and Vanguard.
VEA currently has the higher Sharpe Ratio (1.81 vs 1.21), 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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