SPBO vs. GIGB
SPBO (SPDR Portfolio Corporate Bond ETF) and GIGB (Goldman Sachs Access Investment Grade Corporate Bond ETF) are both Corporate Bonds funds - SPBO tracks the Bloomberg Barclays U.S. Corporate Bond Index while GIGB tracks the FTSE Goldman Sachs Investment Grade Corporate Bond Index. Both are passively managed. Over the past 5 years, SPBO returned 0.50%/yr vs 0.28%/yr for GIGB. Their correlation of 0.91 suggests significant overlap in exposure. SPBO charges 0.03%/yr vs 0.14%/yr for GIGB.
Performance
SPBO vs. GIGB - Performance Comparison
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Returns By Period
In the year-to-date period, SPBO achieves a 0.80% return, which is significantly higher than GIGB's 0.76% return.
SPBO
- 1D
- -0.24%
- 1M
- 0.63%
- YTD
- 0.80%
- 6M
- 0.97%
- 1Y
- 5.51%
- 3Y*
- 5.45%
- 5Y*
- 0.50%
- 10Y*
- 2.73%
GIGB
- 1D
- -0.27%
- 1M
- 0.60%
- YTD
- 0.76%
- 6M
- 0.88%
- 1Y
- 5.25%
- 3Y*
- 5.01%
- 5Y*
- 0.28%
- 10Y*
- —
SPBO vs. GIGB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPBO SPDR Portfolio Corporate Bond ETF | 0.80% | 7.83% | 2.59% | 8.80% | -15.68% | -1.57% | 10.17% | 14.70% | -1.79% | 1.81% |
GIGB Goldman Sachs Access Investment Grade Corporate Bond ETF | 0.76% | 7.58% | 1.68% | 8.80% | -15.80% | -1.64% | 9.86% | 15.05% | -2.76% | 2.45% |
Correlation
The correlation between SPBO and GIGB is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jun 8, 2017 | 0.91 |
The correlation between SPBO and GIGB has been stable across timeframes, ranging from 0.91 to 0.99 - a consistent structural relationship.
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Return for Risk
SPBO vs. GIGB — Risk / Return Rank
SPBO
GIGB
SPBO vs. GIGB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Corporate Bond ETF (SPBO) and Goldman Sachs Access Investment Grade Corporate Bond ETF (GIGB). 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.
| SPBO | GIGB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.22 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 1.84 | +0.09 |
| Martin ratioReturn relative to average drawdown | 5.97 | 5.69 | +0.28 |
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Drawdowns
SPBO vs. GIGB - Drawdown Comparison
The maximum SPBO drawdown since its inception was -22.23%, roughly equal to the maximum GIGB drawdown of -22.25%. Use the drawdown chart below to compare losses from any high point for SPBO and GIGB.
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Drawdown Indicators
| SPBO | GIGB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.23% | -22.25% | +0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -2.87% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -6.41% | -6.69% | +0.28% |
Max Drawdown (5Y)Largest decline over 5 years | -22.23% | -22.25% | +0.02% |
Max Drawdown (10Y)Largest decline over 10 years | -22.23% | — | — |
Current DrawdownCurrent decline from peak | -0.80% | -0.87% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -4.03% | -5.59% | +1.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.93% | -0.01% |
Volatility
SPBO vs. GIGB - Volatility Comparison
SPDR Portfolio Corporate Bond ETF (SPBO) and Goldman Sachs Access Investment Grade Corporate Bond ETF (GIGB) have volatilities of 1.17% and 1.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPBO | GIGB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.14% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.29% | 3.22% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.35% | 4.28% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.18% | 7.25% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.50% | 7.65% | -0.15% |
SPBO vs. GIGB - Expense Ratio Comparison
SPBO has a 0.03% expense ratio, which is lower than GIGB's 0.14% 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
SPBO vs. GIGB - Dividend Comparison
SPBO's dividend yield for the trailing twelve months is around 5.11%, more than GIGB's 4.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GIGB Goldman Sachs Access Investment Grade Corporate Bond ETF | 4.61% | 4.69% | 4.45% | 3.67% | 3.12% | 2.25% | 2.62% | 3.22% | 3.31% | 1.55% | 0.00% | 0.00% |
SPBO SPDR Portfolio Corporate Bond ETF | 5.11% | 5.09% | 5.28% | 4.73% | 3.54% | 2.42% | 2.75% | 3.46% | 3.60% | 3.15% | 3.35% | 3.07% |
Frequently Asked Questions
With a correlation of 0.99, SPBO and GIGB 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.
SPBO has higher volatility (1.17%) compared to GIGB (1.14%). In terms of maximum drawdown, SPBO dropped -22.23% vs GIGB's -22.25%.
On 5-year performance, SPBO leads with 0.50% vs 0.28% for GIGB. On fees, SPBO is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPBO has performed better with a 0.50% return vs 0.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPBO is cheaper with a 0.03% expense ratio, compared with 0.14% for GIGB.
SPBO has the higher dividend yield at 5.11%, compared with 4.61% for GIGB.
SPBO tracks Bloomberg Barclays U.S. Corporate Bond Index, while GIGB tracks FTSE Goldman Sachs Investment Grade Corporate Bond Index. They also come from different issuers: State Street and Goldman Sachs. Their fees differ too: 0.03% for SPBO and 0.14% for GIGB.
SPBO currently has the higher Sharpe Ratio (1.27 vs 1.24), 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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