SPLB vs. IGCB

Last updated Aug 2, 2026

SPLB (SPDR Portfolio Long Term Corporate Bond ETF) and IGCB (TCW Corporate Bond ETF) are both Corporate Bonds funds - SPLB tracks the Bloomberg Barclays Long U.S. Corporate Index while IGCB tracks the Actively Managed. Both are passively managed. Over the past year, SPLB returned -0.24% vs 1.46% for IGCB. Their correlation of 0.84 means they have usually moved in the same direction. SPLB charges 0.07%/yr vs 0.35%/yr for IGCB.

Performance

SPLB vs. IGCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Long Term Corporate Bond ETF (SPLB) and TCW Corporate Bond ETF (IGCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPLB achieves a -2.58% return, which is significantly lower than IGCB's -1.29% return.

SPLB

• 1D: -0.37%
• 1M: -3.82%
• 6M: -3.09%
• YTD: -2.58%
• 1Y: -0.24%
• 3Y*: 3.18%
• 5Y*: -3.55%
• 10Y*: 1.49%
• ALL TIME*: 5.07%

IGCB

• 1D: -0.18%
• 1M: -1.80%
• 6M: -1.42%
• YTD: -1.29%
• 1Y: 1.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.92%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IGCB TCW Corporate Bond ETF	$131.01K	$67.75K	$73.05K
SPLB SPDR Portfolio Long Term Corporate Bond ETF	$49.79M	$52.27M	$59.17M

SPLB vs. IGCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPLB SPDR Portfolio Long Term Corporate Bond ETF	-2.58%	7.05%	-1.57%
IGCB TCW Corporate Bond ETF	-1.29%	8.42%	-0.26%

Correlation

The correlation between SPLB and IGCB is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (All Time) Calculated using the full available price history since Nov 18, 2024	0.84

The correlation between SPLB and IGCB has been stable across timeframes, ranging from 0.84 to 0.84 - a consistent structural relationship.

Return for Risk

SPLB vs. IGCB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPLB

SPLB Risk / Return Rank: 12
SPLB Sharpe Ratio Rank: 13
SPLB Sortino Ratio Rank: 11
SPLB Omega Ratio Rank: 11
SPLB Calmar Ratio Rank: 13
SPLB Martin Ratio Rank: 13

IGCB

IGCB Risk / Return Rank: 22
IGCB Sharpe Ratio Rank: 23
IGCB Sortino Ratio Rank: 21
IGCB Omega Ratio Rank: 21
IGCB Calmar Ratio Rank: 23
IGCB Martin Ratio Rank: 24

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPLB vs. IGCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Corporate Bond ETF (SPLB) and TCW Corporate Bond ETF (IGCB). 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.

	SPLB	IGCB	Difference
Sharpe ratio: Return per unit of total volatility	0.09	0.51	-0.42
Sortino ratio: Return per unit of downside risk	0.18	0.73	-0.55
Omega ratio: Gain probability vs. loss probability	1.02	1.09	-0.07
Calmar ratio: Return relative to maximum drawdown	0.13	0.68	-0.55
Martin ratio: Return relative to average drawdown	0.28	1.74	-1.46

SPLB vs. IGCB - Sharpe Ratio Comparison

The current SPLB Sharpe Ratio is 0.09, which is lower than the IGCB Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of SPLB and IGCB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPLB vs. IGCB - Drawdown Comparison

The maximum SPLB drawdown since its inception was -34.46%, which is greater than IGCB's maximum drawdown of -4.20%. Use the drawdown chart below to compare losses from any high point for SPLB and IGCB.

Drawdown Indicators

	SPLB	IGCB	Difference
Max Drawdown Largest peak-to-trough decline	-34.46%	-4.20%	-30.26%
Max Drawdown (1Y) Largest decline over 1 year	-5.54%	-2.91%	-2.63%
Max Drawdown (3Y) Largest decline over 3 years	-10.23%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.46%	—	—
Current Drawdown Current decline from peak	-17.50%	-2.66%	-14.84%
Average Drawdown Average peak-to-trough decline	-8.07%	-0.98%	-7.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	1.13%	+1.36%

Volatility

SPLB vs. IGCB - Volatility Comparison

SPDR Portfolio Long Term Corporate Bond ETF (SPLB) has a higher volatility of 2.14% compared to TCW Corporate Bond ETF (IGCB) at 0.98%. This indicates that SPLB's price experiences larger fluctuations and is considered to be riskier than IGCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPLB	IGCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.14%	0.98%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	6.08%	2.94%	+3.14%
Volatility (1Y) Calculated over the trailing 1-year period	7.86%	3.86%	+4.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.68%	4.74%	+7.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.92%	4.74%	+8.18%

SPLB vs. IGCB - Expense Ratio Comparison

SPLB has a 0.07% expense ratio, which is lower than IGCB's 0.35% expense ratio.

Dividends

SPLB vs. IGCB - Dividend Comparison

SPLB's dividend yield for the trailing twelve months is around 5.60%, more than IGCB's 4.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGCB TCW Corporate Bond ETF	4.46%	4.52%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPLB SPDR Portfolio Long Term Corporate Bond ETF	5.13%	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

Can I hold both SPLB and IGCB in my portfolio?

SPLB and IGCB have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPLB or IGCB?

SPLB has higher volatility (2.14%) compared to IGCB (0.98%). In terms of maximum drawdown, SPLB dropped -34.46% vs IGCB's -4.20%.

Which ETF is better, SPLB or IGCB?

On 1-year performance, IGCB leads with 1.46% vs -0.24% for SPLB. On fees, SPLB is cheaper at 0.07% per year. On volatility, IGCB has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPLB or IGCB?

Over the 1-year period, IGCB has performed better with a 1.46% return vs -0.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPLB or IGCB?

SPLB is cheaper with a 0.07% expense ratio, compared with 0.35% for IGCB.

Which ETF pays a higher dividend yield, SPLB or IGCB?

SPLB has the higher dividend yield at 5.13%, compared with 4.46% for IGCB.

What is the main difference between SPLB and IGCB?

SPLB tracks Bloomberg Barclays Long U.S. Corporate Index, while IGCB tracks Actively Managed. They also come from different issuers: State Street and TCW. Their fees differ too: 0.07% for SPLB and 0.35% for IGCB.

Which has better risk-adjusted returns?

IGCB currently has the higher Sharpe Ratio (0.51 vs 0.09), 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.