SPSB vs. CVX
SPSB (SPDR Portfolio Short Term Corporate Bond ETF) is Corporate Bonds fund tracking the Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index, while CVX (Chevron Corporation) is a stock. Over the past 10 years, SPSB returned 2.62%/yr vs 9.90%/yr for CVX. At a correlation of -0.01, they often move in opposite directions.
Performance
SPSB vs. CVX - Performance Comparison
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Returns By Period
In the year-to-date period, SPSB achieves a 1.08% return, which is significantly lower than CVX's 14.63% return. Over the past 10 years, SPSB has underperformed CVX with an annualized return of 2.62%, while CVX has yielded a comparatively higher 9.90% annualized return.
SPSB
- 1D
- 0.07%
- 1M
- 0.36%
- YTD
- 1.08%
- 6M
- 1.18%
- 1Y
- 3.98%
- 3Y*
- 5.38%
- 5Y*
- 2.77%
- 10Y*
- 2.62%
CVX
- 1D
- -2.57%
- 1M
- -10.44%
- YTD
- 14.63%
- 6M
- 16.09%
- 1Y
- 24.44%
- 3Y*
- 8.73%
- 5Y*
- 14.43%
- 10Y*
- 9.90%
SPSB vs. CVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPSB SPDR Portfolio Short Term Corporate Bond ETF | 1.08% | 5.86% | 5.25% | 5.60% | -3.31% | -0.20% | 3.83% | 5.21% | 1.45% | 1.58% |
CVX Chevron Corporation | 14.63% | 10.10% | 1.29% | -13.63% | 58.46% | 46.24% | -25.95% | 15.27% | -9.75% | 10.59% |
Correlation
The correlation between SPSB and CVX is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2009 | -0.01 |
Over the past year, the inverse relationship between SPSB and CVX has strengthened: their correlation has moved from -0.01 to -0.22, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
SPSB vs. CVX — Risk / Return Rank
SPSB
CVX
SPSB vs. CVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Short Term Corporate Bond ETF (SPSB) and Chevron Corporation (CVX). 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 | CVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.83 | ||
| Sortino ratioReturn per unit of downside risk | +3.10 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.20 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 4.58 | 1.36 | +3.22 |
| Martin ratioReturn relative to average drawdown | 21.10 | 3.93 | +17.17 |
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Drawdowns
SPSB vs. CVX - Drawdown Comparison
The maximum SPSB drawdown since its inception was -11.75%, smaller than the maximum CVX drawdown of -55.77%. Use the drawdown chart below to compare losses from any high point for SPSB and CVX.
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Drawdown Indicators
| SPSB | CVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.75% | -55.77% | +44.02% |
Max Drawdown (1Y)Largest decline over 1 year | -0.87% | -18.06% | +17.19% |
Max Drawdown (3Y)Largest decline over 3 years | -0.87% | -20.64% | +19.77% |
Max Drawdown (5Y)Largest decline over 5 years | -5.96% | -24.95% | +18.99% |
Max Drawdown (10Y)Largest decline over 10 years | -11.75% | -55.77% | +44.02% |
Current DrawdownCurrent decline from peak | 0.00% | -18.06% | +18.06% |
Average DrawdownAverage peak-to-trough decline | -0.54% | -11.39% | +10.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 6.23% | -6.04% |
Volatility
SPSB vs. CVX - Volatility Comparison
The current volatility for SPDR Portfolio Short Term Corporate Bond ETF (SPSB) is 0.50%, while Chevron Corporation (CVX) has a volatility of 7.54%. This indicates that SPSB experiences smaller price fluctuations and is considered to be less risky than CVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPSB | CVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 7.54% | -7.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.02% | 18.44% | -17.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.37% | 22.55% | -21.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.99% | 25.15% | -23.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.06% | 29.20% | -26.14% |
Dividends
SPSB vs. CVX - Dividend Comparison
SPSB's dividend yield for the trailing twelve months is around 4.40%, more than CVX's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 4.07% | 4.49% | 4.50% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% |
SPSB SPDR Portfolio Short Term Corporate Bond ETF | 4.40% | 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 CVX have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVX has higher volatility (7.54%) compared to SPSB (0.50%). In terms of maximum drawdown, SPSB dropped -11.75% vs CVX's -55.77%.
SPSB currently has the higher Sharpe Ratio (2.93 vs 1.09), 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.
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