SPLB vs. TLT
Compare and contrast key facts about SPDR Portfolio Long Term Corporate Bond ETF (SPLB) and iShares 20+ Year Treasury Bond ETF (TLT).
SPLB and TLT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPLB is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays Long U.S. Corporate Index. It was launched on Mar 10, 2009. TLT is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. 20+ Year Treasury Bond Index. It was launched on Jul 26, 2002. Both SPLB and TLT 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: SPLB or TLT.
Key characteristics
| SPLB | TLT | |
|---|---|---|
| YTD Return | 0.64% | -4.13% |
| 1Y Return | 19.27% | 13.97% |
| 3Y Return (Ann) | -6.12% | -12.01% |
| 5Y Return (Ann) | -1.32% | -5.96% |
| 10Y Return (Ann) | 2.44% | -0.11% |
| Sharpe Ratio | 1.68 | 0.89 |
| Sortino Ratio | 2.46 | 1.36 |
| Omega Ratio | 1.29 | 1.15 |
| Calmar Ratio | 0.58 | 0.28 |
| Martin Ratio | 5.64 | 2.32 |
| Ulcer Index | 3.32% | 5.79% |
| Daily Std Dev | 11.15% | 15.12% |
| Max Drawdown | -34.46% | -48.35% |
| Current Drawdown | -18.98% | -40.27% |
Correlation
The correlation between SPLB and TLT is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
SPLB vs. TLT - Performance Comparison
In the year-to-date period, SPLB achieves a 0.64% return, which is significantly higher than TLT's -4.13% return. Over the past 10 years, SPLB has outperformed TLT with an annualized return of 2.44%, while TLT has yielded a comparatively lower -0.11% annualized return. 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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SPLB vs. TLT - Expense Ratio Comparison
SPLB has a 0.07% expense ratio, which is lower than TLT's 0.15% 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%.
Risk-Adjusted Performance
SPLB vs. TLT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Corporate Bond ETF (SPLB) and iShares 20+ Year Treasury Bond ETF (TLT). 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
SPLB vs. TLT - Dividend Comparison
SPLB's dividend yield for the trailing twelve months is around 4.95%, more than TLT's 3.97% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 4.95% | 4.60% | 4.53% | 3.00% | 3.01% | 3.79% | 4.50% | 4.06% | 4.34% | 4.70% | 4.25% | 4.89% |
TLT iShares 20+ Year Treasury Bond ETF | 3.97% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% | 2.67% | 3.26% |
Drawdowns
SPLB vs. TLT - Drawdown Comparison
The maximum SPLB drawdown since its inception was -34.46%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for SPLB and TLT. For additional features, visit the drawdowns tool.
Volatility
SPLB vs. TLT - Volatility Comparison
The current volatility for SPDR Portfolio Long Term Corporate Bond ETF (SPLB) is 2.68%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 3.45%. This indicates that SPLB experiences smaller price fluctuations and is considered to be less risky than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.