SPBO vs. BSCS
Compare and contrast key facts about SPDR Portfolio Corporate Bond ETF (SPBO) and Invesco BulletShares 2028 Corporate Bond ETF (BSCS).
SPBO and BSCS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPBO is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays U.S. Corporate Bond Index. It was launched on Apr 6, 2011. BSCS is a passively managed fund by Invesco that tracks the performance of the NASDAQ BulletShares USD Corporate Bond 2028 TR Index. It was launched on Aug 9, 2018. Both SPBO and BSCS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SPBO vs. BSCS - Performance Comparison
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SPBO vs. BSCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPBO SPDR Portfolio Corporate Bond ETF | -0.23% | 7.83% | 2.59% | 8.80% | -15.68% | -1.57% | 10.17% | 14.70% | 0.10% |
BSCS Invesco BulletShares 2028 Corporate Bond ETF | 0.21% | 7.04% | 3.87% | 7.62% | -11.24% | -1.89% | 10.17% | 15.41% | -0.40% |
Returns By Period
In the year-to-date period, SPBO achieves a -0.23% return, which is significantly lower than BSCS's 0.21% return.
SPBO
- 1D
- 0.57%
- 1M
- -1.82%
- YTD
- -0.23%
- 6M
- 0.46%
- 1Y
- 5.22%
- 3Y*
- 4.96%
- 5Y*
- 0.76%
- 10Y*
- 2.90%
BSCS
- 1D
- 0.21%
- 1M
- -0.58%
- YTD
- 0.21%
- 6M
- 1.47%
- 1Y
- 4.93%
- 3Y*
- 5.10%
- 5Y*
- 1.59%
- 10Y*
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SPBO vs. BSCS - Expense Ratio Comparison
SPBO has a 0.03% expense ratio, which is lower than BSCS's 0.10% 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%.
Return for Risk
SPBO vs. BSCS — Risk / Return Rank
SPBO
BSCS
SPBO vs. BSCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Corporate Bond ETF (SPBO) and Invesco BulletShares 2028 Corporate Bond ETF (BSCS). 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.
| SPBO | BSCS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.96 | 2.18 | -1.22 |
Sortino ratioReturn per unit of downside risk | 1.32 | 3.26 | -1.93 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.49 | -0.30 |
Calmar ratioReturn relative to maximum drawdown | 1.82 | 3.64 | -1.82 |
Martin ratioReturn relative to average drawdown | 5.60 | 16.51 | -10.90 |
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
| SPBO | BSCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 2.18 | -1.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.32 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.59 | -0.12 |
Correlation
The correlation between SPBO and BSCS is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SPBO vs. BSCS - Dividend Comparison
SPBO's dividend yield for the trailing twelve months is around 5.12%, more than BSCS's 4.48% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPBO SPDR Portfolio Corporate Bond ETF | 5.12% | 5.09% | 5.28% | 4.73% | 3.54% | 2.42% | 2.75% | 3.46% | 3.60% | 3.15% | 3.35% | 3.07% |
BSCS Invesco BulletShares 2028 Corporate Bond ETF | 4.48% | 4.46% | 4.54% | 3.90% | 2.72% | 2.14% | 2.50% | 3.04% | 1.42% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPBO vs. BSCS - Drawdown Comparison
The maximum SPBO drawdown since its inception was -22.23%, which is greater than BSCS's maximum drawdown of -18.40%. Use the drawdown chart below to compare losses from any high point for SPBO and BSCS.
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Drawdown Indicators
| SPBO | BSCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.23% | -18.40% | -3.83% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -1.37% | -1.59% |
Max Drawdown (5Y)Largest decline over 5 years | -22.23% | -17.63% | -4.60% |
Max Drawdown (10Y)Largest decline over 10 years | -22.23% | — | — |
Current DrawdownCurrent decline from peak | -1.82% | -0.58% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -4.07% | -4.29% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.30% | +0.66% |
Volatility
SPBO vs. BSCS - Volatility Comparison
SPDR Portfolio Corporate Bond ETF (SPBO) has a higher volatility of 2.23% compared to Invesco BulletShares 2028 Corporate Bond ETF (BSCS) at 0.67%. This indicates that SPBO's price experiences larger fluctuations and is considered to be riskier than BSCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPBO | BSCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.23% | 0.67% | +1.56% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 1.02% | +2.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.44% | 2.27% | +3.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.19% | 4.95% | +2.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.49% | 6.31% | +1.18% |