SPIB vs. TDTF
SPIB (SPDR Portfolio Intermediate Term Corporate Bond ETF) and TDTF (FlexShares iBoxx 5-Year Target Duration TIPS Index Fund) are both exchange-traded funds - SPIB is a Corporate Bonds fund tracking the Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate, while TDTF is a Inflation-Protected Bonds fund tracking the iBoxx 5-Year Target Duration TIPS. Both are passively managed. Over the past 10 years, SPIB returned 2.86%/yr vs 2.93%/yr for TDTF. A 0.64 correlation means they provide meaningful diversification when combined. SPIB charges 0.07%/yr vs 0.18%/yr for TDTF.
Performance
SPIB vs. TDTF - 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 TDTF's 1.52% return. Both investments have delivered pretty close results over the past 10 years, with SPIB having a 2.86% annualized return and TDTF not far ahead at 2.93%.
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%
TDTF
- 1D
- -0.13%
- 1M
- -0.44%
- YTD
- 1.52%
- 6M
- 1.18%
- 1Y
- 5.07%
- 3Y*
- 4.56%
- 5Y*
- 1.72%
- 10Y*
- 2.93%
SPIB vs. TDTF - 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% |
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 1.52% | 7.83% | 2.40% | 4.10% | -9.73% | 5.54% | 9.98% | 7.99% | -0.82% | 1.93% |
Correlation
The correlation between SPIB and TDTF is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2011 | 0.64 |
The correlation between SPIB and TDTF shifts across timeframes, from 0.64 (all time) to 0.82 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPIB vs. TDTF — Risk / Return Rank
SPIB
TDTF
SPIB vs. TDTF - 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 iBoxx 5-Year Target Duration TIPS Index Fund (TDTF). 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.
| SPIB | TDTF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.30 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 3.22 | -0.60 |
| Martin ratioReturn relative to average drawdown | 9.13 | 10.66 | -1.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPIB | TDTF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 1.67 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.30 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.58 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 0.47 | +0.40 |
Drawdowns
SPIB vs. TDTF - Drawdown Comparison
The maximum SPIB drawdown since its inception was -14.94%, which is greater than TDTF's maximum drawdown of -12.02%. Use the drawdown chart below to compare losses from any high point for SPIB and TDTF.
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Drawdown Indicators
| SPIB | TDTF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.94% | -12.02% | -2.92% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -1.58% | -0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -3.18% | -3.79% | +0.61% |
Max Drawdown (5Y)Largest decline over 5 years | -14.80% | -12.02% | -2.78% |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | -12.02% | -2.92% |
Current DrawdownCurrent decline from peak | -0.78% | -0.57% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -1.89% | -2.91% | +1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.48% | +0.10% |
Volatility
SPIB vs. TDTF - Volatility Comparison
SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) has a higher volatility of 0.93% compared to FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) at 0.73%. This indicates that SPIB's price experiences larger fluctuations and is considered to be riskier than TDTF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPIB | TDTF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 0.73% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.09% | 1.97% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.83% | 3.06% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.47% | 5.69% | -1.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.60% | 5.07% | -0.47% |
SPIB vs. TDTF - Expense Ratio Comparison
SPIB has a 0.07% expense ratio, which is lower than TDTF's 0.18% 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. TDTF - Dividend Comparison
SPIB's dividend yield for the trailing twelve months is around 4.46%, less than TDTF's 4.71% 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% |
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 4.71% | 4.58% | 3.98% | 3.97% | 7.60% | 4.55% | 1.13% | 1.80% | 2.60% | 2.20% | 1.51% | 0.21% |
Frequently Asked Questions
SPIB and TDTF have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPIB has higher volatility (0.93%) compared to TDTF (0.73%). In terms of maximum drawdown, SPIB dropped -14.94% vs TDTF's -12.02%.
On 10-year performance, TDTF leads with 2.93% vs 2.86% for SPIB. On fees, SPIB is cheaper at 0.07% per year. On volatility, TDTF has been the lower-risk option at 0.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TDTF has performed better with a 2.93% 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 0.18% for TDTF.
TDTF has the higher dividend yield at 4.71%, compared with 4.46% for SPIB.
SPIB is categorized as Corporate Bonds, while TDTF is Inflation-Protected Bonds. SPIB tracks Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate, while TDTF tracks iBoxx 5-Year Target Duration TIPS. They also come from different issuers: State Street and Northern Trust. Their fees differ too: 0.07% for SPIB and 0.18% for TDTF.
SPIB currently has the higher Sharpe Ratio (1.87 vs 1.67), 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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