SPPX.DE vs. IUSM.DE
SPPX.DE (SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF) and IUSM.DE (iShares USD Treasury Bond 7-10yr UCITS ETF (Dist)) are both Government Bonds funds - SPPX.DE tracks the Bloomberg US 10+ Year Treasury Bond while IUSM.DE tracks the ICE US Treasury 7-10 Year. Both are passively managed. Over the past 10 years, SPPX.DE returned -1.66%/yr vs 0.29%/yr for IUSM.DE. Their correlation of 0.85 suggests significant overlap in exposure. SPPX.DE charges 0.15%/yr vs 0.07%/yr for IUSM.DE.
Performance
SPPX.DE vs. IUSM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPPX.DE achieves a 5.09% return, which is significantly higher than IUSM.DE's 3.43% return. Over the past 10 years, SPPX.DE has underperformed IUSM.DE with an annualized return of -1.66%, while IUSM.DE has yielded a comparatively higher 0.29% annualized return.
SPPX.DE
- 1D
- -0.11%
- 1M
- 5.04%
- YTD
- 5.09%
- 6M
- 5.56%
- 1Y
- 7.67%
- 3Y*
- -1.69%
- 5Y*
- -4.26%
- 10Y*
- -1.66%
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%
SPPX.DE vs. IUSM.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 | 5.09% | -6.02% | -0.97% | -0.77% | -24.28% | 3.04% | 6.12% | 17.93% | 2.67% | -4.61% |
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 SPPX.DE and IUSM.DE is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Feb 17, 2016 | 0.85 |
The correlation between SPPX.DE and IUSM.DE has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.
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Return for Risk
SPPX.DE vs. IUSM.DE — Risk / Return Rank
SPPX.DE
IUSM.DE
SPPX.DE vs. IUSM.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 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.
| SPPX.DE | IUSM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.19 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 1.35 | -0.14 |
| Martin ratioReturn relative to average drawdown | 2.62 | 3.48 | -0.85 |
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Drawdowns
SPPX.DE vs. IUSM.DE - Drawdown Comparison
The maximum SPPX.DE drawdown since its inception was -44.59%, 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 SPPX.DE and IUSM.DE.
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Drawdown Indicators
| SPPX.DE | IUSM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.59% | -21.00% | -23.59% |
Max Drawdown (1Y)Largest decline over 1 year | -6.30% | -4.45% | -1.85% |
Max Drawdown (3Y)Largest decline over 3 years | -16.53% | -10.66% | -5.87% |
Max Drawdown (5Y)Largest decline over 5 years | -36.55% | -15.56% | -20.99% |
Max Drawdown (10Y)Largest decline over 10 years | -44.59% | -21.00% | -23.59% |
Current DrawdownCurrent decline from peak | -38.37% | -13.51% | -24.86% |
Average DrawdownAverage peak-to-trough decline | -22.68% | -9.60% | -13.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.92% | 1.73% | +1.19% |
Volatility
SPPX.DE vs. IUSM.DE - Volatility Comparison
SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF (SPPX.DE) has a higher volatility of 2.39% compared to iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IUSM.DE) at 1.43%. This indicates that SPPX.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
| SPPX.DE | IUSM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.39% | 1.43% | +0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 6.21% | 4.10% | +2.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.00% | 5.78% | +3.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.21% | 8.96% | +5.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 8.21% | +8.27% |
SPPX.DE vs. IUSM.DE - Expense Ratio Comparison
SPPX.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
SPPX.DE vs. IUSM.DE - Dividend Comparison
SPPX.DE's dividend yield for the trailing twelve months is around 4.42%, more 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% |
SPPX.DE SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF | 4.42% | 4.77% | 4.08% | 3.14% | 2.57% | 1.63% | 2.07% | 2.42% | 2.38% | 2.77% | 1.07% | 0.00% |
Frequently Asked Questions
SPPX.DE and IUSM.DE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 SPPX.DE.
SPPX.DE tracks Bloomberg US 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 SPPX.DE and 0.07% for IUSM.DE.
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