SPLB vs. UTHY
SPLB (SPDR Portfolio Long Term Corporate Bond ETF) and UTHY (US Treasury 30 Year Bond ETF) are both exchange-traded funds - SPLB is a Corporate Bonds fund tracking the Bloomberg Barclays Long U.S. Corporate Index, while UTHY is a Government Bonds fund tracking the ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, SPLB returned 4.70%/yr vs -1.74%/yr for UTHY. Their correlation of 0.93 suggests significant overlap in exposure. SPLB charges 0.07%/yr vs 0.15%/yr for UTHY.
Performance
SPLB vs. UTHY - Performance Comparison
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Returns By Period
In the year-to-date period, SPLB achieves a 1.42% return, which is significantly higher than UTHY's 0.07% return.
SPLB
- 1D
- -0.09%
- 1M
- 1.50%
- YTD
- 1.42%
- 6M
- 1.81%
- 1Y
- 5.82%
- 3Y*
- 4.70%
- 5Y*
- -2.10%
- 10Y*
- 2.20%
UTHY
- 1D
- -0.30%
- 1M
- 1.48%
- YTD
- 0.07%
- 6M
- 0.39%
- 1Y
- 2.42%
- 3Y*
- -1.74%
- 5Y*
- —
- 10Y*
- —
SPLB vs. UTHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 1.42% | 7.05% | -1.74% | 7.13% |
UTHY US Treasury 30 Year Bond ETF | 0.07% | 3.47% | -8.07% | -2.77% |
Correlation
The correlation between SPLB and UTHY is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023 | 0.93 |
The correlation between SPLB and UTHY has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
SPLB vs. UTHY — Risk / Return Rank
SPLB
UTHY
SPLB vs. UTHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Corporate Bond ETF (SPLB) and US Treasury 30 Year Bond ETF (UTHY). 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 | UTHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.05 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 0.33 | +0.75 |
| Martin ratioReturn relative to average drawdown | 2.64 | 0.81 | +1.83 |
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Drawdowns
SPLB vs. UTHY - Drawdown Comparison
The maximum SPLB drawdown since its inception was -34.46%, which is greater than UTHY's maximum drawdown of -21.86%. Use the drawdown chart below to compare losses from any high point for SPLB and UTHY.
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Drawdown Indicators
| SPLB | UTHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.46% | -21.86% | -12.60% |
Max Drawdown (1Y)Largest decline over 1 year | -5.42% | -7.34% | +1.92% |
Max Drawdown (3Y)Largest decline over 3 years | -12.91% | -18.58% | +5.67% |
Max Drawdown (5Y)Largest decline over 5 years | -34.46% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.46% | — | — |
Current DrawdownCurrent decline from peak | -14.11% | -11.07% | -3.04% |
Average DrawdownAverage peak-to-trough decline | -8.02% | -10.71% | +2.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 3.00% | -0.79% |
Volatility
SPLB vs. UTHY - Volatility Comparison
The current volatility for SPDR Portfolio Long Term Corporate Bond ETF (SPLB) is 2.50%, while US Treasury 30 Year Bond ETF (UTHY) has a volatility of 2.79%. This indicates that SPLB experiences smaller price fluctuations and is considered to be less risky than UTHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPLB | UTHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 2.79% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 5.98% | 6.36% | -0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.07% | 9.33% | -1.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.71% | 13.62% | -0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.95% | 13.62% | -0.67% |
SPLB vs. UTHY - Expense Ratio Comparison
SPLB has a 0.07% expense ratio, which is lower than UTHY'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%.
Dividends
SPLB vs. UTHY - Dividend Comparison
SPLB's dividend yield for the trailing twelve months is around 5.35%, more than UTHY's 4.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 5.35% | 5.25% | 5.20% | 4.60% | 4.53% | 3.00% | 3.01% | 3.79% | 4.50% | 4.06% | 4.34% | 4.70% |
UTHY US Treasury 30 Year Bond ETF | 4.62% | 4.53% | 4.58% | 2.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, SPLB and UTHY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
UTHY has higher volatility (2.79%) compared to SPLB (2.50%). In terms of maximum drawdown, SPLB dropped -34.46% vs UTHY's -21.86%.
On 3-year performance, SPLB leads with 4.70% vs -1.74% for UTHY. On fees, SPLB is cheaper at 0.07% per year. On volatility, SPLB has been the lower-risk option at 2.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SPLB has performed better with a 4.70% return vs -1.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPLB is cheaper with a 0.07% expense ratio, compared with 0.15% for UTHY.
SPLB has the higher dividend yield at 5.35%, compared with 4.62% for UTHY.
SPLB is categorized as Corporate Bonds, while UTHY is Government Bonds. SPLB tracks Bloomberg Barclays Long U.S. Corporate Index, while UTHY tracks ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross. They also come from different issuers: State Street and US Benchmark Series. Their fees differ too: 0.07% for SPLB and 0.15% for UTHY.
SPLB currently has the higher Sharpe Ratio (0.73 vs 0.26), 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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