SPIB vs. SPLB
SPIB (SPDR Portfolio Intermediate Term Corporate Bond ETF) and SPLB (SPDR Portfolio Long Term Corporate Bond ETF) are both Corporate Bonds funds from State Street - SPIB tracks the Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate while SPLB tracks the Bloomberg Barclays Long U.S. Corporate Index. Both are passively managed. Over the past 10 years, SPIB returned 2.79%/yr vs 2.19%/yr for SPLB. A 0.69 correlation means they provide meaningful diversification when combined. Both charge a 0.07% expense ratio.
Performance
SPIB vs. SPLB - Performance Comparison
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Returns By Period
In the year-to-date period, SPIB achieves a 0.46% return, which is significantly lower than SPLB's 1.28% return. Over the past 10 years, SPIB has outperformed SPLB with an annualized return of 2.79%, while SPLB has yielded a comparatively lower 2.19% 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%
SPLB
- 1D
- -0.40%
- 1M
- 1.36%
- YTD
- 1.28%
- 6M
- 1.33%
- 1Y
- 6.30%
- 3Y*
- 4.12%
- 5Y*
- -2.19%
- 10Y*
- 2.19%
SPIB vs. SPLB - 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% |
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 1.28% | 7.05% | -1.74% | 11.20% | -25.68% | -1.99% | 13.47% | 23.49% | -7.35% | 12.26% |
Correlation
The correlation between SPIB and SPLB is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2009 | 0.69 |
The correlation between SPIB and SPLB shifts across timeframes, from 0.69 (all time) to 0.90 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPIB vs. SPLB — Risk / Return Rank
SPIB
SPLB
SPIB vs. SPLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) and SPDR Portfolio Long Term Corporate Bond ETF (SPLB). 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 | SPLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.86 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.14 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 1.17 | +1.17 |
| Martin ratioReturn relative to average drawdown | 7.83 | 2.84 | +4.99 |
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Drawdowns
SPIB vs. SPLB - Drawdown Comparison
The maximum SPIB drawdown since its inception was -14.94%, smaller than the maximum SPLB drawdown of -34.46%. Use the drawdown chart below to compare losses from any high point for SPIB and SPLB.
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Drawdown Indicators
| SPIB | SPLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.94% | -34.46% | +19.52% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -5.42% | +3.40% |
Max Drawdown (3Y)Largest decline over 3 years | -3.18% | -12.91% | +9.73% |
Max Drawdown (5Y)Largest decline over 5 years | -14.80% | -34.46% | +19.66% |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | -34.46% | +19.52% |
Current DrawdownCurrent decline from peak | -0.78% | -14.23% | +13.45% |
Average DrawdownAverage peak-to-trough decline | -1.90% | -8.02% | +6.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 2.22% | -1.62% |
Volatility
SPIB vs. SPLB - Volatility Comparison
The current volatility for SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) is 0.91%, while SPDR Portfolio Long Term Corporate Bond ETF (SPLB) has a volatility of 1.94%. This indicates that SPIB experiences smaller price fluctuations and is considered to be less risky than SPLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPIB | SPLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.94% | -1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.19% | 5.92% | -3.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.86% | 7.96% | -5.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.48% | 12.69% | -8.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.60% | 12.96% | -8.36% |
SPIB vs. SPLB - Expense Ratio Comparison
Both SPIB and SPLB have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SPIB vs. SPLB - Dividend Comparison
SPIB's dividend yield for the trailing twelve months is around 4.46%, less than SPLB's 5.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 5.36% | 5.25% | 5.20% | 4.60% | 4.53% | 3.00% | 3.01% | 3.79% | 4.50% | 4.06% | 4.34% | 4.70% |
Frequently Asked Questions
SPIB and SPLB have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPLB has higher volatility (1.94%) compared to SPIB (0.91%). In terms of maximum drawdown, SPIB dropped -14.94% vs SPLB's -34.46%.
On 10-year performance, SPIB leads with 2.79% vs 2.19% for SPLB. Both ETFs have the same 0.07% expense ratio. 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 2.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPIB and SPLB have the same expense ratio: 0.07% per year.
SPLB has the higher dividend yield at 5.36%, compared with 4.46% for SPIB.
SPIB tracks Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate, while SPLB tracks Bloomberg Barclays Long U.S. Corporate Index.
SPIB currently has the higher Sharpe Ratio (1.66 vs 0.80), 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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