SPP3.DE vs. SYBW.DE
SPP3.DE (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) and SYBW.DE (State Street SPDR Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist)) are both Government Bonds funds from State Street - SPP3.DE tracks the Bloomberg US 3-7 Year Treasury Bond while SYBW.DE tracks the Bloomberg U.S. 1-3 Year Treasury Bond Index. Both are passively managed. Over the past 10 years, SPP3.DE returned 0.85%/yr vs 1.29%/yr for SYBW.DE. Their correlation of 0.92 suggests significant overlap in exposure. SPP3.DE charges 0.15%/yr vs 0.05%/yr for SYBW.DE.
Performance
SPP3.DE vs. SYBW.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPP3.DE achieves a 2.70% return, which is significantly lower than SYBW.DE's 3.77% return. Over the past 10 years, SPP3.DE has underperformed SYBW.DE with an annualized return of 0.85%, while SYBW.DE has yielded a comparatively higher 1.29% annualized return.
SPP3.DE
- 1D
- 0.16%
- 1M
- 1.32%
- 6M
- 1.57%
- YTD
- 2.70%
- 1Y
- 4.44%
- 3Y*
- 3.10%
- 5Y*
- 0.94%
- 10Y*
- 0.85%
SYBW.DE
- 1D
- 0.14%
- 1M
- 1.61%
- 6M
- 2.39%
- YTD
- 3.77%
- 1Y
- 4.75%
- 3Y*
- 3.60%
- 5Y*
- 2.52%
- 10Y*
- 1.29%
SPP3.DE vs. SYBW.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPP3.DE SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 2.70% | -4.58% | 7.67% | 0.68% | -3.88% | 5.69% | -2.62% | 7.92% | 5.84% | -11.29% |
SYBW.DE State Street SPDR Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist) | 3.77% | -6.50% | 9.98% | 0.49% | 2.02% | 7.59% | -6.16% | 5.97% | 6.10% | -11.87% |
Correlation
The correlation between SPP3.DE and SYBW.DE is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Feb 17, 2016 | 0.92 |
The correlation between SPP3.DE and SYBW.DE has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.
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Return for Risk
SPP3.DE vs. SYBW.DE — Risk / Return Rank
SPP3.DE
SYBW.DE
SPP3.DE vs. SYBW.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (SPP3.DE) and State Street SPDR Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist) (SYBW.DE). 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.
| SPP3.DE | SYBW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.15 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.34 | -0.26 |
| Martin ratioReturn relative to average drawdown | 2.84 | 3.36 | -0.52 |
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Drawdowns
SPP3.DE vs. SYBW.DE - Drawdown Comparison
The maximum SPP3.DE drawdown since its inception was -21.43%, smaller than the maximum SYBW.DE drawdown of -28.24%. Use the drawdown chart below to compare losses from any high point for SPP3.DE and SYBW.DE.
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Drawdown Indicators
| SPP3.DE | SYBW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.43% | -28.24% | +6.81% |
Max Drawdown (1Y)Largest decline over 1 year | -4.07% | -3.52% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -9.93% | -10.87% | +0.94% |
Max Drawdown (5Y)Largest decline over 5 years | -12.33% | -12.61% | +0.28% |
Max Drawdown (10Y)Largest decline over 10 years | -21.43% | -20.37% | -1.06% |
Current DrawdownCurrent decline from peak | -5.14% | -5.13% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -8.92% | -9.74% | +0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.56% | 1.40% | +0.16% |
Volatility
SPP3.DE vs. SYBW.DE - Volatility Comparison
SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (SPP3.DE) has a higher volatility of 1.20% compared to State Street SPDR Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist) (SYBW.DE) at 1.12%. This indicates that SPP3.DE's price experiences larger fluctuations and is considered to be riskier than SYBW.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPP3.DE | SYBW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.12% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.63% | 3.89% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.24% | 5.46% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.54% | 7.16% | +0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.57% | 10.47% | +0.10% |
SPP3.DE vs. SYBW.DE - Expense Ratio Comparison
SPP3.DE has a 0.15% expense ratio, which is higher than SYBW.DE's 0.05% 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
SPP3.DE vs. SYBW.DE - Dividend Comparison
SPP3.DE's dividend yield for the trailing twelve months is around 3.84%, which matches SYBW.DE's 3.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPP3.DE SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 3.84% | 3.96% | 3.12% | 1.99% | 1.13% | 0.93% | 1.80% | 2.12% | 1.59% | 1.48% | 0.44% | 0.00% |
SYBW.DE State Street SPDR Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist) | 3.82% | 4.34% | 3.98% | 3.01% | 0.64% | 0.54% | 1.91% | 2.03% | 1.33% | 1.05% | 0.68% | 0.53% |
Frequently Asked Questions
With a correlation of 0.93, SPP3.DE and SYBW.DE 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.
On fees, SYBW.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SYBW.DE is cheaper with a 0.05% expense ratio, compared with 0.15% for SPP3.DE.
SPP3.DE tracks Bloomberg US 3-7 Year Treasury Bond, while SYBW.DE tracks Bloomberg U.S. 1-3 Year Treasury Bond Index. Their fees differ too: 0.15% for SPP3.DE and 0.05% for SYBW.DE.
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