SPIB vs. BND
SPIB (SPDR Portfolio Intermediate Term Corporate Bond ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - SPIB is a Corporate Bonds fund tracking the Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, SPIB returned 2.79%/yr vs 1.55%/yr for BND. A 0.78 correlation means they provide meaningful diversification when combined. SPIB charges 0.07%/yr vs 0.03%/yr for BND.
Performance
SPIB vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, SPIB achieves a 0.46% return, which is significantly higher than BND's 0.38% return. Over the past 10 years, SPIB has outperformed BND with an annualized return of 2.79%, while BND has yielded a comparatively lower 1.55% annualized return.
SPIB
- 1D
- -0.12%
- 1M
- 0.37%
- YTD
- 0.46%
- 6M
- 0.64%
- 1Y
- 4.70%
- 3Y*
- 5.83%
- 5Y*
- 1.77%
- 10Y*
- 2.79%
BND
- 1D
- -0.27%
- 1M
- 0.53%
- YTD
- 0.38%
- 6M
- 0.45%
- 1Y
- 4.37%
- 3Y*
- 3.92%
- 5Y*
- 0.04%
- 10Y*
- 1.55%
SPIB vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 0.46% | 7.91% | 4.28% | 7.27% | -9.65% | -1.24% | 7.69% | 10.23% | -0.49% | 3.76% |
BND Vanguard Total Bond Market ETF | 0.38% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Correlation
The correlation between SPIB and BND is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2009 | 0.78 |
The correlation between SPIB and BND shifts across timeframes, from 0.78 (all time) to 0.95 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPIB vs. BND — Risk / Return Rank
SPIB
BND
SPIB vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) and Vanguard Total Bond Market ETF (BND). 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.
| SPIB | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.21 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 1.64 | +0.70 |
| Martin ratioReturn relative to average drawdown | 7.83 | 4.69 | +3.14 |
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Drawdowns
SPIB vs. BND - Drawdown Comparison
The maximum SPIB drawdown since its inception was -14.94%, smaller than the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for SPIB and BND.
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Drawdown Indicators
| SPIB | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.94% | -18.58% | +3.64% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -2.68% | +0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -3.18% | -5.92% | +2.74% |
Max Drawdown (5Y)Largest decline over 5 years | -14.80% | -17.91% | +3.11% |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | -18.58% | +3.64% |
Current DrawdownCurrent decline from peak | -0.78% | -2.26% | +1.48% |
Average DrawdownAverage peak-to-trough decline | -1.90% | -3.06% | +1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 0.93% | -0.33% |
Volatility
SPIB vs. BND - Volatility Comparison
The current volatility for SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) is 0.91%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.08%. This indicates that SPIB experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPIB | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.08% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.19% | 2.77% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.86% | 3.74% | -0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.48% | 6.03% | -1.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.60% | 5.54% | -0.94% |
SPIB vs. BND - Expense Ratio Comparison
SPIB has a 0.07% expense ratio, which is higher than BND's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPIB vs. BND - Dividend Comparison
SPIB's dividend yield for the trailing twelve months is around 4.46%, more than BND's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.96% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 4.46% | 4.42% | 4.41% | 3.84% | 2.65% | 1.58% | 2.18% | 3.03% | 3.04% | 2.79% | 2.68% | 2.69% |
Frequently Asked Questions
With a correlation of 0.94, SPIB and BND 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.
BND has higher volatility (1.08%) compared to SPIB (0.91%). In terms of maximum drawdown, SPIB dropped -14.94% vs BND's -18.58%.
On 10-year performance, SPIB leads with 2.79% vs 1.55% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, SPIB has been the lower-risk option at 0.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPIB has performed better with a 2.79% return vs 1.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BND is cheaper with a 0.03% expense ratio, compared with 0.07% for SPIB.
SPIB has the higher dividend yield at 4.46%, compared with 3.96% for BND.
SPIB is categorized as Corporate Bonds, while BND is Total Bond Market. SPIB tracks Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.07% for SPIB and 0.03% for BND.
SPIB currently has the higher Sharpe Ratio (1.66 vs 1.18), 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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