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SPIB vs. SPY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPIB vs. SPY

Last updated Jun 4, 2026

SPIB (SPDR Portfolio Intermediate Term Corporate Bond ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - SPIB is a Corporate Bonds fund tracking the Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SPIB returned 2.86%/yr vs 15.49%/yr for SPY. At a 0.03 correlation, their price movements are largely independent. SPIB charges 0.07%/yr vs 0.09%/yr for SPY.

Performance

SPIB vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPIB achieves a 0.46% return, which is significantly lower than SPY's 10.91% return. Over the past 10 years, SPIB has underperformed SPY with an annualized return of 2.86%, while SPY has yielded a comparatively higher 15.49% annualized return.

SPIB

1D
-0.09%
1M
0.25%
YTD
0.46%
6M
0.59%
1Y
5.27%
3Y*
5.79%
5Y*
1.79%
10Y*
2.86%

SPY

1D
-0.70%
1M
5.05%
YTD
10.91%
6M
10.91%
1Y
27.98%
3Y*
22.35%
5Y*
13.83%
10Y*
15.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPIB vs. SPY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
SPY
State Street SPDR S&P 500 ETF		10.91%17.72%24.89%26.18%-18.18%28.73%18.33%31.22%-4.57%21.71%

Correlation

The correlation between SPIB and SPY is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.38

Correlation (3Y)
Calculated over the trailing 3-year period

0.31

Correlation (5Y)
Calculated over the trailing 5-year period

0.28

Correlation (10Y)
Calculated over the trailing 10-year period

0.18

Correlation (All Time)
Calculated using the full available price history since Feb 23, 2009

0.03

Over the past year, SPIB and SPY have become more correlated (0.38) than their long-term average of 0.03, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Portfolio Intermediate Term Corporate Bond ETF

State Street SPDR S&P 500 ETF

Often compared with SPIB:
SPIB vs. VCITSPIB vs. SPBOSPIB vs. USHYSPIB vs. SCHISPIB vs. SPLBSPIB vs. LQDSPIB vs. BND
Often compared with SPY:
SPY vs. QQQSPY vs. VOOSPY vs. BRK-BSPY vs. RSPSPY vs. VTISPY vs. SCHDSPY vs. GLD

Return for Risk

SPIB vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPIB
SPIB Risk / Return Rank: 5555
Overall Rank
SPIB Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
SPIB Sortino Ratio Rank: 5959
Sortino Ratio Rank
SPIB Omega Ratio Rank: 5555
Omega Ratio Rank
SPIB Calmar Ratio Rank: 5252
Calmar Ratio Rank
SPIB Martin Ratio Rank: 5353
Martin Ratio Rank
SPY
SPY Risk / Return Rank: 7070
Overall Rank
SPY Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 6969
Sortino Ratio Rank
SPY Omega Ratio Rank: 7070
Omega Ratio Rank
SPY Calmar Ratio Rank: 6262
Calmar Ratio Rank
SPY Martin Ratio Rank: 7575
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPIB vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) and State Street SPDR S&P 500 ETF (SPY). 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.

SPIBSPYDifference
Sharpe ratioReturn per unit of total volatility
1.87
2.38

-0.51

Sortino ratioReturn per unit of downside risk
2.86
3.24

-0.38

Omega ratioGain probability vs. loss probability

1.34

1.43

-0.09

Calmar ratioReturn relative to maximum drawdown

2.62

3.16

-0.54

Martin ratioReturn relative to average drawdown

9.13

14.72

-5.59

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPIB vs. SPY - Sharpe Ratio Comparison

The current SPIB Sharpe Ratio is 1.87, which is comparable to the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of SPIB and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SPIBSPYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.87

2.38

-0.51

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.40

0.82

-0.41

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.62

0.87

-0.24

Sharpe Ratio (All Time)

Calculated using the full available price history

0.88

0.59

+0.29

Drawdowns

SPIB vs. SPY - Drawdown Comparison

The maximum SPIB drawdown since its inception was -14.94%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for SPIB and SPY.

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Drawdown Indicators

SPIBSPYDifference

Max Drawdown

Largest peak-to-trough decline

-14.94%

-55.19%

+40.25%

Max Drawdown (1Y)

Largest decline over 1 year

-2.02%

-8.88%

+6.86%

Max Drawdown (3Y)

Largest decline over 3 years

-3.18%

-18.76%

+15.58%

Max Drawdown (5Y)

Largest decline over 5 years

-14.80%

-24.50%

+9.70%

Max Drawdown (10Y)

Largest decline over 10 years

-14.94%

-33.72%

+18.78%

Current Drawdown

Current decline from peak

-0.78%

-0.70%

-0.08%

Average Drawdown

Average peak-to-trough decline

-1.89%

-9.05%

+7.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.58%

1.91%

-1.33%

Volatility

SPIB vs. SPY - Volatility Comparison

The current volatility for SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) is 0.93%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 2.84%. This indicates that SPIB experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPIBSPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.93%

2.84%

-1.91%

Volatility (6M)

Calculated over the trailing 6-month period

2.09%

8.90%

-6.81%

Volatility (1Y)

Calculated over the trailing 1-year period

2.83%

11.83%

-9.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.47%

17.05%

-12.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.60%

17.94%

-13.34%

SPIB vs. SPY - Expense Ratio Comparison

SPIB has a 0.07% expense ratio, which is lower than SPY's 0.09% 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. SPY - Dividend Comparison

SPIB's dividend yield for the trailing twelve months is around 4.46%, more than SPY's 0.98% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
SPY
State Street SPDR S&P 500 ETF		0.98%1.07%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%

Frequently Asked Questions

SPIB and SPY have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPY has higher volatility (2.84%) compared to SPIB (0.93%). In terms of maximum drawdown, SPIB dropped -14.94% vs SPY's -55.19%.

On 10-year performance, SPY leads with 15.49% vs 2.86% for SPIB. On fees, SPIB is cheaper at 0.07% per year. On volatility, SPIB has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPY has performed better with a 15.49% return vs 2.86%. 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 0.09% for SPY.

SPIB has the higher dividend yield at 4.46%, compared with 0.98% for SPY.

SPIB is categorized as Corporate Bonds, while SPY is S&P 500. SPIB tracks Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate, while SPY tracks S&P 500 Index. Their fees differ too: 0.07% for SPIB and 0.09% for SPY.

SPY currently has the higher Sharpe Ratio (2.38 vs 1.87), 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.

Portfolio Optimizer

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