SPSB vs. SLQD
SPSB (SPDR Portfolio Short Term Corporate Bond ETF) and SLQD (iShares 0-5 Year Investment Grade Corporate Bond ETF) are both Corporate Bonds funds - SPSB tracks the Bloomberg U.S. 1-3 Year Corporate Bond Index while SLQD tracks the Markit iBoxx USD Liquid Investment Grade 0-5 Index. Both are passively managed. Over the past 10 years, SPSB returned 2.60%/yr vs 2.60%/yr for SLQD. Their 0.65 correlation means they have sometimes moved together and sometimes differently. SPSB charges 0.07%/yr vs 0.06%/yr for SLQD.
Performance
SPSB vs. SLQD - Performance Comparison
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Returns By Period
In the year-to-date period, SPSB achieves a 1.27% return, which is significantly higher than SLQD's 1.10% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: SPSB at 2.60% and SLQD at 2.60%.
SPSB
- 1D
- -0.07%
- 1M
- 0.03%
- 6M
- 0.90%
- YTD
- 1.27%
- 1Y
- 3.39%
- 3Y*
- 5.26%
- 5Y*
- 2.77%
- 10Y*
- 2.60%
- ALL TIME*
- 2.29%
SLQD
- 1D
- -0.05%
- 1M
- -0.14%
- 6M
- 0.70%
- YTD
- 1.10%
- 1Y
- 3.24%
- 3Y*
- 5.31%
- 5Y*
- 2.53%
- 10Y*
- 2.60%
- ALL TIME*
- 2.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $10.60M | $10.54M | $10.26M | |
| $97.65M | $93.10M | $90.36M |
SPSB vs. SLQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPSB SPDR Portfolio Short Term Corporate Bond ETF | 1.27% | 5.86% | 5.25% | 5.60% | -3.31% | -0.20% | 3.83% | 5.21% | 1.45% | 1.58% |
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 1.10% | 6.27% | 4.94% | 5.98% | -4.38% | -0.61% | 4.76% | 6.09% | 1.09% | 2.12% |
Correlation
The correlation between SPSB and SLQD is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013 | 0.65 |
Over the past year, SPSB and SLQD have become more correlated (0.91) than their long-term average of 0.65, meaning their price movements have been converging.
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Return for Risk
SPSB vs. SLQD — Risk / Return Rank
SPSB
SLQD
SPSB vs. SLQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Short Term Corporate Bond ETF (SPSB) and iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD). 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 | SLQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.48 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 4.44 | 3.50 | +0.94 |
| Martin ratioReturn relative to average drawdown | 20.07 | 15.40 | +4.67 |
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Drawdowns
SPSB vs. SLQD - Drawdown Comparison
The maximum SPSB drawdown since its inception was -11.75%, smaller than the maximum SLQD drawdown of -12.69%. Use the drawdown chart below to compare losses from any high point for SPSB and SLQD.
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Drawdown Indicators
| SPSB | SLQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.75% | -12.69% | +0.94% |
Max Drawdown (1Y)Largest decline over 1 year | -0.87% | -1.06% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -0.87% | -1.06% | +0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -5.96% | -7.63% | +1.67% |
Max Drawdown (10Y)Largest decline over 10 years | -11.75% | -12.69% | +0.94% |
Current DrawdownCurrent decline from peak | -0.07% | -0.17% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -0.54% | -0.86% | +0.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 0.24% | -0.05% |
Volatility
SPSB vs. SLQD - Volatility Comparison
The current volatility for SPDR Portfolio Short Term Corporate Bond ETF (SPSB) is 0.39%, while iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) has a volatility of 0.42%. This indicates that SPSB experiences smaller price fluctuations and is considered to be less risky than SLQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPSB | SLQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.39% | 0.42% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.07% | 1.24% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.37% | 1.54% | -0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 2.45% | -0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.06% | 3.13% | -0.07% |
SPSB vs. SLQD - Expense Ratio Comparison
SPSB has a 0.07% expense ratio, which is higher than SLQD's 0.06% 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. SLQD - Dividend Comparison
SPSB's dividend yield for the trailing twelve months is around 4.38%, which matches SLQD's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 3.99% | 4.15% | 3.71% | 2.99% | 2.00% | 1.67% | 2.34% | 2.89% | 2.55% | 1.98% | 1.81% | 1.43% |
SPSB SPDR Portfolio Short Term Corporate Bond ETF | 4.00% | 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
With a correlation of 0.91, SPSB and SLQD 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.
SLQD has higher volatility (0.42%) compared to SPSB (0.39%). In terms of maximum drawdown, SPSB dropped -11.75% vs SLQD's -12.69%.
On 10-year performance, SLQD leads with 2.60% vs 2.60% for SPSB. On fees, SLQD is cheaper at 0.06% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SLQD has performed better with a 2.60% return vs 2.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLQD is cheaper with a 0.06% expense ratio, compared with 0.07% for SPSB.
SPSB has the higher dividend yield at 4.00%, compared with 3.99% for SLQD.
SPSB tracks Bloomberg U.S. 1-3 Year Corporate Bond Index, while SLQD tracks Markit iBoxx USD Liquid Investment Grade 0-5 Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.07% for SPSB and 0.06% for SLQD.
SPSB currently has the higher Sharpe Ratio (2.82 vs 2.42), 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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