SPIB vs. SKOR
SPIB (SPDR Portfolio Intermediate Term Corporate Bond ETF) and SKOR (FlexShares Credit-Scored US Corporate Bond Index Fund) are both Corporate Bonds funds - SPIB tracks the Bloomberg U.S. Intermediate Corporate Bond Index while SKOR tracks the NorthernTrustUS Corporate Bond Quality Value Index. Both are passively managed. Over the past 10 years, SPIB returned 2.73%/yr vs 2.78%/yr for SKOR. Their 0.78 correlation means they have sometimes moved together and sometimes differently. SPIB charges 0.04%/yr vs 0.22%/yr for SKOR.
Performance
SPIB vs. SKOR - Performance Comparison
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Returns By Period
In the year-to-date period, SPIB achieves a 0.68% return, which is significantly higher than SKOR's 0.45% return. Both investments have delivered pretty close results over the past 10 years, with SPIB having a 2.73% annualized return and SKOR not far ahead at 2.78%.
SPIB
- 1D
- 0.33%
- 1M
- -0.19%
- 6M
- 0.47%
- YTD
- 0.68%
- 1Y
- 3.10%
- 3Y*
- 5.77%
- 5Y*
- 1.62%
- 10Y*
- 2.73%
- ALL TIME*
- 3.78%
SKOR
- 1D
- 0.27%
- 1M
- -0.35%
- 6M
- 0.28%
- YTD
- 0.45%
- 1Y
- 2.96%
- 3Y*
- 5.76%
- 5Y*
- 1.61%
- 10Y*
- 2.78%
- ALL TIME*
- 3.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.40M | $2.82M | $3.05M | |
| $206.12M | $185.13M | $231.03M |
SPIB vs. SKOR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 0.68% | 7.91% | 4.28% | 7.27% | -9.65% | -1.24% | 7.69% | 10.23% | -0.49% | 3.76% |
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 0.45% | 7.99% | 4.42% | 7.64% | -9.88% | -1.40% | 8.84% | 10.69% | -1.25% | 4.38% |
Correlation
The correlation between SPIB and SKOR is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.96 |
Correlation (3Y) Balances recent behavior with more history. | 0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.97 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2014 | 0.78 |
The correlation between SPIB and SKOR shifts across timeframes, from 0.78 (all time) to 0.97 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPIB vs. SKOR — Risk / Return Rank
SPIB
SKOR
SPIB vs. SKOR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) and FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR). 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 | SKOR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.20 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 1.43 | +0.11 |
| Martin ratioReturn relative to average drawdown | 4.74 | 4.52 | +0.22 |
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Drawdowns
SPIB vs. SKOR - Drawdown Comparison
The maximum SPIB drawdown since its inception was -14.94%, smaller than the maximum SKOR drawdown of -15.98%. Use the drawdown chart below to compare losses from any high point for SPIB and SKOR.
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Drawdown Indicators
| SPIB | SKOR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.94% | -15.98% | +1.04% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -2.09% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -2.90% | -2.98% | +0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -14.60% | -14.96% | +0.36% |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | -15.98% | +1.04% |
Current DrawdownCurrent decline from peak | -0.56% | -0.66% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -1.89% | -2.63% | +0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.66% | 0.00% |
Volatility
SPIB vs. SKOR - Volatility Comparison
SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) has a higher volatility of 0.84% compared to FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) at 0.79%. This indicates that SPIB's price experiences larger fluctuations and is considered to be riskier than SKOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPIB | SKOR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 0.79% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.31% | 2.17% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.79% | 2.66% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.49% | 4.44% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.60% | 4.91% | -0.31% |
SPIB vs. SKOR - Expense Ratio Comparison
SPIB has a 0.04% expense ratio, which is lower than SKOR's 0.22% 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. SKOR - Dividend Comparison
SPIB's dividend yield for the trailing twelve months is around 4.49%, less than SKOR's 4.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 4.69% | 4.70% | 4.90% | 3.90% | 2.57% | 2.55% | 3.38% | 3.53% | 2.85% | 2.46% | 2.74% | 2.25% |
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 4.49% | 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 0.96, SPIB and SKOR 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.
SPIB has higher volatility (0.84%) compared to SKOR (0.79%). In terms of maximum drawdown, SPIB dropped -14.94% vs SKOR's -15.98%.
On 10-year performance, SKOR leads with 2.78% vs 2.73% for SPIB. On fees, SPIB is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SKOR has performed better with a 2.78% return vs 2.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPIB is cheaper with a 0.04% expense ratio, compared with 0.22% for SKOR.
SKOR has the higher dividend yield at 4.69%, compared with 4.49% for SPIB.
SPIB tracks Bloomberg U.S. Intermediate Corporate Bond Index, while SKOR tracks NorthernTrustUS Corporate Bond Quality Value Index. They also come from different issuers: State Street and Northern Trust. Their fees differ too: 0.04% for SPIB and 0.22% for SKOR.
SKOR currently has the higher Sharpe Ratio (1.12 vs 1.12), 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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