SPSB vs. BND
SPSB (SPDR Portfolio Short Term Corporate Bond ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - SPSB is a Corporate Bonds fund tracking the Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, SPSB returned 2.60%/yr vs 1.55%/yr for BND. At a 0.50 correlation, their price movements are largely independent. SPSB charges 0.07%/yr vs 0.03%/yr for BND.
Performance
SPSB vs. BND - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPSB achieves a 0.87% return, which is significantly higher than BND's 0.38% return. Over the past 10 years, SPSB has outperformed BND with an annualized return of 2.60%, while BND has yielded a comparatively lower 1.55% annualized return.
SPSB
- 1D
- -0.10%
- 1M
- 0.16%
- YTD
- 0.87%
- 6M
- 1.04%
- 1Y
- 3.98%
- 3Y*
- 5.31%
- 5Y*
- 2.73%
- 10Y*
- 2.60%
BND
- 1D
- -0.27%
- 1M
- 0.53%
- YTD
- 0.38%
- 6M
- 0.45%
- 1Y
- 4.37%
- 3Y*
- 3.92%
- 5Y*
- 0.04%
- 10Y*
- 1.55%
SPSB vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPSB SPDR Portfolio Short Term Corporate Bond ETF | 0.87% | 5.86% | 5.25% | 5.60% | -3.31% | -0.20% | 3.83% | 5.21% | 1.45% | 1.58% |
BND Vanguard Total Bond Market ETF | 0.38% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Correlation
The correlation between SPSB and BND is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2009 | 0.50 |
Over the past year, SPSB and BND have become more correlated (0.80) than their long-term average of 0.50, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPSB vs. BND — Risk / Return Rank
SPSB
BND
SPSB vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Short Term Corporate Bond ETF (SPSB) and Vanguard Total Bond Market ETF (BND). 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.
| SPSB | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.75 | ||
| Sortino ratioReturn per unit of downside risk | +2.89 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.21 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 4.58 | 1.64 | +2.94 |
| Martin ratioReturn relative to average drawdown | 21.10 | 4.69 | +16.42 |
Loading charts...
Drawdowns
SPSB vs. BND - Drawdown Comparison
The maximum SPSB drawdown since its inception was -11.75%, smaller than the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for SPSB and BND.
Loading charts...
Drawdown Indicators
| SPSB | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.75% | -18.58% | +6.83% |
Max Drawdown (1Y)Largest decline over 1 year | -0.87% | -2.68% | +1.81% |
Max Drawdown (3Y)Largest decline over 3 years | -0.87% | -5.92% | +5.05% |
Max Drawdown (5Y)Largest decline over 5 years | -5.96% | -17.91% | +11.95% |
Max Drawdown (10Y)Largest decline over 10 years | -11.75% | -18.58% | +6.83% |
Current DrawdownCurrent decline from peak | -0.20% | -2.26% | +2.06% |
Average DrawdownAverage peak-to-trough decline | -0.54% | -3.06% | +2.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 0.93% | -0.74% |
Volatility
SPSB vs. BND - Volatility Comparison
The current volatility for SPDR Portfolio Short Term Corporate Bond ETF (SPSB) is 0.48%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.08%. This indicates that SPSB experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPSB | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | 1.08% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 1.01% | 2.77% | -1.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.37% | 3.74% | -2.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.99% | 6.03% | -4.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.06% | 5.54% | -2.48% |
SPSB vs. BND - Expense Ratio Comparison
SPSB has a 0.07% expense ratio, which is higher than BND'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
SPSB vs. BND - Dividend Comparison
SPSB's dividend yield for the trailing twelve months is around 4.41%, more than BND's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.96% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
SPSB SPDR Portfolio Short Term Corporate Bond ETF | 4.41% | 4.55% | 4.85% | 4.05% | 1.92% | 1.19% | 1.94% | 2.77% | 2.36% | 1.94% | 1.65% | 1.43% |
Frequently Asked Questions
SPSB and BND have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BND has higher volatility (1.08%) compared to SPSB (0.48%). In terms of maximum drawdown, SPSB dropped -11.75% vs BND's -18.58%.
On 10-year performance, SPSB leads with 2.60% vs 1.55% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, SPSB has been the lower-risk option at 0.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPSB has performed better with a 2.60% return vs 1.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BND is cheaper with a 0.03% expense ratio, compared with 0.07% for SPSB.
SPSB has the higher dividend yield at 4.41%, compared with 3.96% for BND.
SPSB is categorized as Corporate Bonds, while BND is Total Bond Market. SPSB tracks Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.07% for SPSB and 0.03% for BND.
SPSB currently has the higher Sharpe Ratio (2.93 vs 1.18), 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.
Find the right allocation for SPSB and BND
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer