SPIB vs. IBDS
SPIB (SPDR Portfolio Intermediate Term Corporate Bond ETF) and IBDS (iShares iBonds Dec 2027 Term Corporate ETF) are both Corporate Bonds funds - SPIB tracks the Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate while IBDS tracks the Bloomberg Barclays December 2027 Maturity Corporate Index. Both are passively managed. Over the past 5 years, SPIB returned 1.78%/yr vs 1.47%/yr for IBDS. Their correlation of 0.80 suggests significant overlap in exposure. SPIB charges 0.07%/yr vs 0.10%/yr for IBDS.
Performance
SPIB vs. IBDS - Performance Comparison
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Returns By Period
In the year-to-date period, SPIB achieves a 0.55% return, which is significantly lower than IBDS's 1.40% return.
SPIB
- 1D
- 0.09%
- 1M
- 0.46%
- YTD
- 0.55%
- 6M
- 0.76%
- 1Y
- 4.57%
- 3Y*
- 5.86%
- 5Y*
- 1.78%
- 10Y*
- 2.80%
IBDS
- 1D
- 0.08%
- 1M
- 0.27%
- YTD
- 1.40%
- 6M
- 1.61%
- 1Y
- 4.33%
- 3Y*
- 5.41%
- 5Y*
- 1.47%
- 10Y*
- —
SPIB vs. IBDS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 0.55% | 7.91% | 4.28% | 7.27% | -9.65% | -1.24% | 7.69% | 10.23% | -0.49% | 0.07% |
IBDS iShares iBonds Dec 2027 Term Corporate ETF | 1.40% | 5.86% | 4.61% | 6.44% | -9.52% | -1.56% | 8.95% | 15.08% | -2.76% | 1.14% |
Correlation
The correlation between SPIB and IBDS is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2017 | 0.80 |
The correlation between SPIB and IBDS shifts across timeframes, from 0.76 (1 year) to 0.87 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPIB vs. IBDS — Risk / Return Rank
SPIB
IBDS
SPIB vs. IBDS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) and iShares iBonds Dec 2027 Term Corporate ETF (IBDS). 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 | IBDS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.46 | ||
| Sortino ratioReturn per unit of downside risk | -5.39 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 2.08 | -0.78 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 10.00 | -7.73 |
| Martin ratioReturn relative to average drawdown | 7.60 | 46.90 | -39.30 |
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Drawdowns
SPIB vs. IBDS - Drawdown Comparison
The maximum SPIB drawdown since its inception was -14.94%, smaller than the maximum IBDS drawdown of -16.75%. Use the drawdown chart below to compare losses from any high point for SPIB and IBDS.
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Drawdown Indicators
| SPIB | IBDS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.94% | -16.75% | +1.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -0.43% | -1.59% |
Max Drawdown (3Y)Largest decline over 3 years | -3.18% | -2.27% | -0.91% |
Max Drawdown (5Y)Largest decline over 5 years | -14.80% | -14.98% | +0.18% |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | — | — |
Current DrawdownCurrent decline from peak | -0.69% | 0.00% | -0.69% |
Average DrawdownAverage peak-to-trough decline | -1.90% | -3.34% | +1.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 0.09% | +0.51% |
Volatility
SPIB vs. IBDS - Volatility Comparison
SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) has a higher volatility of 0.91% compared to iShares iBonds Dec 2027 Term Corporate ETF (IBDS) at 0.19%. This indicates that SPIB's price experiences larger fluctuations and is considered to be riskier than IBDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPIB | IBDS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 0.19% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 2.19% | 0.62% | +1.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.85% | 1.07% | +1.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.48% | 4.17% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.60% | 5.53% | -0.93% |
SPIB vs. IBDS - Expense Ratio Comparison
SPIB has a 0.07% expense ratio, which is lower than IBDS'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%.
Dividends
SPIB vs. IBDS - Dividend Comparison
SPIB's dividend yield for the trailing twelve months is around 4.46%, more than IBDS's 4.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBDS iShares iBonds Dec 2027 Term Corporate ETF | 4.31% | 4.36% | 4.37% | 3.81% | 2.87% | 2.19% | 2.66% | 3.32% | 3.66% | 0.97% | 0.00% | 0.00% |
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
SPIB and IBDS have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPIB has higher volatility (0.91%) compared to IBDS (0.19%). In terms of maximum drawdown, SPIB dropped -14.94% vs IBDS's -16.75%.
On 5-year performance, SPIB leads with 1.78% vs 1.47% for IBDS. On fees, SPIB is cheaper at 0.07% per year. On volatility, IBDS has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPIB has performed better with a 1.78% return vs 1.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPIB is cheaper with a 0.07% expense ratio, compared with 0.10% for IBDS.
SPIB has the higher dividend yield at 4.46%, compared with 4.31% for IBDS.
SPIB tracks Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate, while IBDS tracks Bloomberg Barclays December 2027 Maturity Corporate Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.07% for SPIB and 0.10% for IBDS.
IBDS currently has the higher Sharpe Ratio (4.08 vs 1.61), 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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