SPP7.DE vs. IUSM.DE
SPP7.DE (SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF) and IUSM.DE (iShares USD Treasury Bond 7-10yr UCITS ETF (Dist)) are both Government Bonds funds - SPP7.DE tracks the Bloomberg US 7-10 Year Treasury Bond while IUSM.DE tracks the ICE US Treasury 7-10 Year. Both are passively managed. Over the past 10 years, SPP7.DE returned 0.21%/yr vs 0.29%/yr for IUSM.DE. With a 0.98 correlation, they move nearly in lockstep. SPP7.DE charges 0.15%/yr vs 0.07%/yr for IUSM.DE.
Performance
SPP7.DE vs. IUSM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPP7.DE achieves a 3.15% return, which is significantly lower than IUSM.DE's 3.43% return. Over the past 10 years, SPP7.DE has underperformed IUSM.DE with an annualized return of 0.21%, while IUSM.DE has yielded a comparatively higher 0.29% annualized return.
SPP7.DE
- 1D
- -0.09%
- 1M
- 3.12%
- YTD
- 3.15%
- 6M
- 3.93%
- 1Y
- 6.00%
- 3Y*
- 1.49%
- 5Y*
- 0.05%
- 10Y*
- 0.21%
IUSM.DE
- 1D
- -0.08%
- 1M
- 3.24%
- YTD
- 3.43%
- 6M
- 3.92%
- 1Y
- 6.04%
- 3Y*
- 1.53%
- 5Y*
- 0.13%
- 10Y*
- 0.29%
SPP7.DE vs. IUSM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPP7.DE SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF | 3.15% | -3.30% | 5.16% | -0.06% | -9.76% | 4.99% | -0.12% | 11.44% | 5.09% | -9.83% |
IUSM.DE iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | 3.43% | -3.56% | 5.27% | 0.00% | -9.60% | 5.10% | -0.01% | 11.55% | 5.19% | -9.84% |
Correlation
The correlation between SPP7.DE and IUSM.DE is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Feb 17, 2016 | 0.98 |
The correlation between SPP7.DE and IUSM.DE has been stable across timeframes, ranging from 0.95 to 0.99 - a consistent structural relationship.
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Return for Risk
SPP7.DE vs. IUSM.DE — Risk / Return Rank
SPP7.DE
IUSM.DE
SPP7.DE vs. IUSM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF (SPP7.DE) and iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IUSM.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.
| SPP7.DE | IUSM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.19 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 1.35 | +0.02 |
| Martin ratioReturn relative to average drawdown | 3.61 | 3.48 | +0.14 |
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Drawdowns
SPP7.DE vs. IUSM.DE - Drawdown Comparison
The maximum SPP7.DE drawdown since its inception was -23.17%, which is greater than IUSM.DE's maximum drawdown of -21.00%. Use the drawdown chart below to compare losses from any high point for SPP7.DE and IUSM.DE.
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Drawdown Indicators
| SPP7.DE | IUSM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.17% | -21.00% | -2.17% |
Max Drawdown (1Y)Largest decline over 1 year | -4.35% | -4.45% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -10.59% | -10.66% | +0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -15.66% | -15.56% | -0.10% |
Max Drawdown (10Y)Largest decline over 10 years | -23.10% | -21.00% | -2.10% |
Current DrawdownCurrent decline from peak | -14.00% | -13.51% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -12.85% | -9.60% | -3.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.66% | 1.73% | -0.07% |
Volatility
SPP7.DE vs. IUSM.DE - Volatility Comparison
SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF (SPP7.DE) has a higher volatility of 1.52% compared to iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IUSM.DE) at 1.43%. This indicates that SPP7.DE's price experiences larger fluctuations and is considered to be riskier than IUSM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPP7.DE | IUSM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 1.43% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 4.26% | 4.10% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.86% | 5.78% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.95% | 8.96% | -0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.84% | 8.21% | +1.63% |
SPP7.DE vs. IUSM.DE - Expense Ratio Comparison
SPP7.DE has a 0.15% expense ratio, which is higher than IUSM.DE's 0.07% 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
SPP7.DE vs. IUSM.DE - Dividend Comparison
SPP7.DE's dividend yield for the trailing twelve months is around 3.96%, less than IUSM.DE's 4.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IUSM.DE iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | 4.20% | 4.25% | 3.91% | 3.15% | 2.01% | 1.12% | 1.71% | 2.49% | 2.39% | 2.07% | 1.85% | 2.03% |
SPP7.DE SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF | 3.96% | 4.20% | 3.45% | 2.73% | 1.66% | 0.97% | 1.69% | 2.33% | 1.98% | 1.99% | 0.70% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, SPP7.DE and IUSM.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, IUSM.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSM.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for SPP7.DE.
SPP7.DE tracks Bloomberg US 7-10 Year Treasury Bond, while IUSM.DE tracks ICE US Treasury 7-10 Year. They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for SPP7.DE and 0.07% for IUSM.DE.
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