SPIB vs. SPBO
Compare and contrast key facts about SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) and SPDR Portfolio Corporate Bond ETF (SPBO).
SPIB and SPBO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPIB is a passively managed fund by State Street that tracks the performance of the Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate. It was launched on Feb 10, 2009. 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. Both SPIB and SPBO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPIB or SPBO.
Key characteristics
| SPIB | SPBO | |
|---|---|---|
| YTD Return | -0.99% | -2.61% |
| 1Y Return | 3.23% | 1.95% |
| 3Y Return (Ann) | -1.24% | -2.93% |
| 5Y Return (Ann) | 1.50% | 1.05% |
| 10Y Return (Ann) | 2.19% | 2.17% |
| Sharpe Ratio | 0.61 | 0.22 |
| Daily Std Dev | 4.70% | 7.44% |
| Max Drawdown | -14.94% | -22.04% |
| Current Drawdown | -5.53% | -12.22% |
Correlation
The correlation between SPIB and SPBO is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
SPIB vs. SPBO - Performance Comparison
In the year-to-date period, SPIB achieves a -0.99% return, which is significantly higher than SPBO's -2.61% return. Both investments have delivered pretty close results over the past 10 years, with SPIB having a 2.19% annualized return and SPBO not far behind at 2.17%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SPIB vs. SPBO - Expense Ratio Comparison
SPIB has a 0.07% expense ratio, which is higher than SPBO'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%.
Risk-Adjusted Performance
SPIB vs. SPBO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) and SPDR Portfolio Corporate Bond ETF (SPBO). 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.
Dividends
SPIB vs. SPBO - Dividend Comparison
SPIB's dividend yield for the trailing twelve months is around 4.10%, less than SPBO's 5.09% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 4.10% | 3.84% | 2.65% | 1.58% | 2.18% | 3.03% | 3.03% | 2.79% | 2.68% | 2.69% | 2.65% | 3.04% |
SPBO SPDR Portfolio Corporate Bond ETF | 5.09% | 4.73% | 3.54% | 2.65% | 2.85% | 3.46% | 3.60% | 3.15% | 3.09% | 3.07% | 3.21% | 3.76% |
Drawdowns
SPIB vs. SPBO - Drawdown Comparison
The maximum SPIB drawdown since its inception was -14.94%, smaller than the maximum SPBO drawdown of -22.04%. Use the drawdown chart below to compare losses from any high point for SPIB and SPBO. For additional features, visit the drawdowns tool.
Volatility
SPIB vs. SPBO - Volatility Comparison
The current volatility for SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) is 1.25%, while SPDR Portfolio Corporate Bond ETF (SPBO) has a volatility of 1.95%. This indicates that SPIB experiences smaller price fluctuations and is considered to be less risky than SPBO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.