SPPX.DE vs. IS04.DE
SPPX.DE (SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF) and IS04.DE (iShares USD Treasury Bond 20+yr UCITS ETF (Dist)) are both Government Bonds funds - SPPX.DE tracks the Bloomberg US 10+ Year Treasury Bond while IS04.DE tracks the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 10 years, SPPX.DE returned -1.29%/yr vs -1.74%/yr for IS04.DE. With a 0.99 correlation, they move nearly in lockstep. SPPX.DE charges 0.15%/yr vs 0.07%/yr for IS04.DE.
Performance
SPPX.DE vs. IS04.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPPX.DE achieves a 0.87% return, which is significantly higher than IS04.DE's 0.81% return. Over the past 10 years, SPPX.DE has outperformed IS04.DE with an annualized return of -1.29%, while IS04.DE has yielded a comparatively lower -1.74% annualized return.
SPPX.DE
- 1D
- 0.30%
- 1M
- 1.41%
- YTD
- 0.87%
- 6M
- -0.50%
- 1Y
- 2.52%
- 3Y*
- -3.23%
- 5Y*
- -4.30%
- 10Y*
- -1.29%
IS04.DE
- 1D
- 0.41%
- 1M
- 0.97%
- YTD
- 0.81%
- 6M
- -0.32%
- 1Y
- 2.27%
- 3Y*
- -4.20%
- 5Y*
- -5.21%
- 10Y*
- -1.74%
SPPX.DE vs. IS04.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPPX.DE SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF | 0.87% | -6.01% | -0.89% | -0.77% | -24.28% | 3.04% | 6.14% | 17.91% | 2.68% | -4.61% |
IS04.DE iShares USD Treasury Bond 20+yr UCITS ETF (Dist) | 0.81% | -6.95% | -2.51% | -1.21% | -26.01% | 3.49% | 6.49% | 18.18% | 2.70% | -4.33% |
Correlation
The correlation between SPPX.DE and IS04.DE is 0.98 - 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 | 0.98 |
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 | 0.99 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2016 | 0.99 |
The correlation between SPPX.DE and IS04.DE has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
SPPX.DE vs. IS04.DE — Risk / Return Rank
SPPX.DE
IS04.DE
SPPX.DE vs. IS04.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF (SPPX.DE) and iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IS04.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.
| SPPX.DE | IS04.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.04 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | 0.29 | +0.11 |
| Martin ratioReturn relative to average drawdown | 0.87 | 0.62 | +0.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPPX.DE | IS04.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.28 | 0.22 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | -0.34 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.09 | -0.12 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.09 | -0.09 | +0.01 |
Drawdowns
SPPX.DE vs. IS04.DE - Drawdown Comparison
The maximum SPPX.DE drawdown since its inception was -44.56%, smaller than the maximum IS04.DE drawdown of -47.19%. Use the drawdown chart below to compare losses from any high point for SPPX.DE and IS04.DE.
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Drawdown Indicators
| SPPX.DE | IS04.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.56% | -47.19% | +2.63% |
Max Drawdown (1Y)Largest decline over 1 year | -6.31% | -7.33% | +1.02% |
Max Drawdown (3Y)Largest decline over 3 years | -16.55% | -18.47% | +1.92% |
Max Drawdown (5Y)Largest decline over 5 years | -36.53% | -40.05% | +3.52% |
Max Drawdown (10Y)Largest decline over 10 years | -44.56% | -47.19% | +2.63% |
Current DrawdownCurrent decline from peak | -40.79% | -43.69% | +2.90% |
Average DrawdownAverage peak-to-trough decline | -22.39% | -21.89% | -0.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 3.45% | -0.55% |
Volatility
SPPX.DE vs. IS04.DE - Volatility Comparison
SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF (SPPX.DE) and iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IS04.DE) have volatilities of 2.37% and 2.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPPX.DE | IS04.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.37% | 2.47% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 6.11% | 6.52% | -0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.91% | 9.70% | -0.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.34% | 15.21% | -0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.51% | 14.69% | -0.18% |
SPPX.DE vs. IS04.DE - Expense Ratio Comparison
SPPX.DE has a 0.15% expense ratio, which is higher than IS04.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
SPPX.DE vs. IS04.DE - Dividend Comparison
SPPX.DE's dividend yield for the trailing twelve months is around 4.60%, more than IS04.DE's 4.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS04.DE iShares USD Treasury Bond 20+yr UCITS ETF (Dist) | 4.35% | 4.38% | 4.62% | 3.82% | 3.04% | 1.71% | 1.86% | 2.49% | 2.79% | 2.72% | 2.56% | 2.14% |
SPPX.DE SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF | 4.60% | 4.77% | 4.11% | 3.16% | 2.57% | 1.63% | 2.07% | 2.42% | 2.38% | 2.77% | 1.07% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, SPPX.DE and IS04.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, IS04.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS04.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for SPPX.DE.
SPPX.DE tracks Bloomberg US 10+ Year Treasury Bond, while IS04.DE tracks ICE U.S. Treasury 20+ Year Bond Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for SPPX.DE and 0.07% for IS04.DE.
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