SPMD vs. VGLT
SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) and VGLT (Vanguard Long-Term Treasury ETF) are both exchange-traded funds - SPMD is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index, while VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 10 years, SPMD returned 11.78%/yr vs -1.21%/yr for VGLT. At a correlation of -0.22, they often move in opposite directions. SPMD charges 0.05%/yr vs 0.03%/yr for VGLT.
Performance
SPMD vs. VGLT - Performance Comparison
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Returns By Period
In the year-to-date period, SPMD achieves a 15.51% return, which is significantly higher than VGLT's 0.03% return. Over the past 10 years, SPMD has outperformed VGLT with an annualized return of 11.78%, while VGLT has yielded a comparatively lower -1.21% annualized return.
SPMD
- 1D
- 0.73%
- 1M
- 5.31%
- YTD
- 15.51%
- 6M
- 14.03%
- 1Y
- 27.96%
- 3Y*
- 15.42%
- 5Y*
- 8.28%
- 10Y*
- 11.78%
VGLT
- 1D
- -0.27%
- 1M
- 2.62%
- YTD
- 0.03%
- 6M
- 0.49%
- 1Y
- 4.27%
- 3Y*
- -0.30%
- 5Y*
- -5.52%
- 10Y*
- -1.21%
SPMD vs. VGLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 15.51% | 7.44% | 13.91% | 16.48% | -13.13% | 24.76% | 13.46% | 25.19% | -10.34% | 15.12% |
VGLT Vanguard Long-Term Treasury ETF | 0.03% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | 17.57% | 14.30% | -1.54% | 8.64% |
Correlation
The correlation between SPMD and VGLT is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | -0.22 |
The correlation between SPMD and VGLT shifts across timeframes, from -0.22 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPMD vs. VGLT — Risk / Return Rank
SPMD
VGLT
SPMD vs. VGLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) and Vanguard Long-Term Treasury ETF (VGLT). 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.
| SPMD | VGLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.26 | ||
| Sortino ratioReturn per unit of downside risk | +1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.07 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | 0.47 | +2.47 |
| Martin ratioReturn relative to average drawdown | 10.81 | 1.19 | +9.62 |
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Drawdowns
SPMD vs. VGLT - Drawdown Comparison
The maximum SPMD drawdown since its inception was -57.62%, which is greater than VGLT's maximum drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for SPMD and VGLT.
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Drawdown Indicators
| SPMD | VGLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.62% | -46.18% | -11.44% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -7.01% | -1.85% |
Max Drawdown (3Y)Largest decline over 3 years | -24.08% | -17.68% | -6.40% |
Max Drawdown (5Y)Largest decline over 5 years | -24.08% | -40.98% | +16.90% |
Max Drawdown (10Y)Largest decline over 10 years | -41.86% | -46.18% | +4.32% |
Current DrawdownCurrent decline from peak | 0.00% | -36.55% | +36.55% |
Average DrawdownAverage peak-to-trough decline | -8.11% | -15.09% | +6.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 2.78% | -0.37% |
Volatility
SPMD vs. VGLT - Volatility Comparison
SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a higher volatility of 5.07% compared to Vanguard Long-Term Treasury ETF (VGLT) at 2.69%. This indicates that SPMD's price experiences larger fluctuations and is considered to be riskier than VGLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMD | VGLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 2.69% | +2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 11.77% | 6.09% | +5.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.91% | 8.78% | +7.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.75% | 14.57% | +5.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 13.82% | +7.38% |
SPMD vs. VGLT - Expense Ratio Comparison
SPMD has a 0.05% expense ratio, which is higher than VGLT's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPMD vs. VGLT - Dividend Comparison
SPMD's dividend yield for the trailing twelve months is around 1.21%, less than VGLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 1.21% | 1.39% | 1.42% | 1.47% | 1.64% | 1.24% | 1.30% | 1.57% | 1.85% | 1.97% | 2.13% | 5.33% |
VGLT Vanguard Long-Term Treasury ETF | 4.59% | 4.44% | 4.33% | 3.33% | 2.84% | 1.82% | 2.15% | 2.46% | 2.71% | 2.55% | 2.69% | 3.21% |
Frequently Asked Questions
SPMD and VGLT have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMD has higher volatility (5.07%) compared to VGLT (2.69%). In terms of maximum drawdown, SPMD dropped -57.62% vs VGLT's -46.18%.
On 10-year performance, SPMD leads with 11.78% vs -1.21% for VGLT. On fees, VGLT is cheaper at 0.03% per year. On volatility, VGLT has been the lower-risk option at 2.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPMD has performed better with a 11.78% return vs -1.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGLT is cheaper with a 0.03% expense ratio, compared with 0.05% for SPMD.
VGLT has the higher dividend yield at 4.59%, compared with 1.21% for SPMD.
SPMD is categorized as Mid Cap Blend Equities, while VGLT is Government Bonds. SPMD tracks S&P MidCap 400 Index, while VGLT tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.05% for SPMD and 0.03% for VGLT.
SPMD currently has the higher Sharpe Ratio (1.64 vs 0.38), 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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