SPSB vs. TSEC

Last updated Jun 4, 2026

SPSB (SPDR Portfolio Short Term Corporate Bond ETF) and TSEC (Touchstone Securitized Income 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 TSEC is a Short-Term Bond fund actively managed by Touchstone. SPSB is passively managed, while TSEC is actively managed. Over the past year, SPSB returned 4.29% vs 6.08% for TSEC. At a 0.38 correlation, their price movements are largely independent. SPSB charges 0.07%/yr vs 0.40%/yr for TSEC.

Performance

SPSB vs. TSEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Short Term Corporate Bond ETF (SPSB) and Touchstone Securitized Income ETF (TSEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPSB achieves a 0.84% return, which is significantly lower than TSEC's 1.26% return.

SPSB

• 1D: -0.07%
• 1M: 0.26%
• YTD: 0.84%
• 6M: 1.17%
• 1Y: 4.29%
• 3Y*: 5.29%
• 5Y*: 2.69%
• 10Y*: 2.63%

TSEC

• 1D: -0.02%
• 1M: 0.51%
• YTD: 1.26%
• 6M: 1.95%
• 1Y: 6.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPSB vs. TSEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPSB SPDR Portfolio Short Term Corporate Bond ETF	0.84%	5.86%	5.25%	3.45%
TSEC Touchstone Securitized Income ETF	1.26%	7.47%	7.62%	5.00%

Correlation

The correlation between SPSB and TSEC is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (All Time) Calculated using the full available price history since Jul 20, 2023	0.38

Return for Risk

SPSB vs. TSEC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPSB

SPSB Risk / Return Rank: 92
SPSB Sharpe Ratio Rank: 91
SPSB Sortino Ratio Rank: 95
SPSB Omega Ratio Rank: 95
SPSB Calmar Ratio Rank: 86
SPSB Martin Ratio Rank: 91

TSEC

TSEC Risk / Return Rank: 73
TSEC Sharpe Ratio Rank: 69
TSEC Sortino Ratio Rank: 73
TSEC Omega Ratio Rank: 84
TSEC Calmar Ratio Rank: 73
TSEC Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPSB vs. TSEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Short Term Corporate Bond ETF (SPSB) and Touchstone Securitized Income ETF (TSEC). 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.

	SPSB	TSEC	Difference
Sharpe ratio Return per unit of total volatility	3.25	2.27	+0.99
Sortino ratio Return per unit of downside risk	5.36	3.30	+2.07
Omega ratio Gain probability vs. loss probability	1.72	1.51	+0.21
Calmar ratio Return relative to maximum drawdown	4.94	3.65	+1.29
Martin ratio Return relative to average drawdown	22.90	11.93	+10.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPSB vs. TSEC - Sharpe Ratio Comparison

The current SPSB Sharpe Ratio is 3.25, which is higher than the TSEC Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of SPSB and TSEC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPSB	TSEC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.25	2.27	+0.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.36	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	2.59	-1.72

Drawdowns

SPSB vs. TSEC - Drawdown Comparison

The maximum SPSB drawdown since its inception was -11.75%, which is greater than TSEC's maximum drawdown of -1.78%. Use the drawdown chart below to compare losses from any high point for SPSB and TSEC.

Drawdown Indicators

	SPSB	TSEC	Difference
Max Drawdown Largest peak-to-trough decline	-11.75%	-1.78%	-9.97%
Max Drawdown (1Y) Largest decline over 1 year	-0.87%	-1.67%	+0.80%
Max Drawdown (3Y) Largest decline over 3 years	-0.87%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-5.96%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-11.75%	—	—
Current Drawdown Current decline from peak	-0.14%	-0.33%	+0.19%
Average Drawdown Average peak-to-trough decline	-0.54%	-0.33%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.19%	0.51%	-0.32%

Volatility

SPSB vs. TSEC - Volatility Comparison

The current volatility for SPDR Portfolio Short Term Corporate Bond ETF (SPSB) is 0.35%, while Touchstone Securitized Income ETF (TSEC) has a volatility of 0.53%. This indicates that SPSB experiences smaller price fluctuations and is considered to be less risky than TSEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPSB	TSEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.35%	0.53%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	0.94%	2.07%	-1.13%
Volatility (1Y) Calculated over the trailing 1-year period	1.33%	2.70%	-1.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.98%	2.90%	-0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.06%	2.90%	+0.16%

SPSB vs. TSEC - Expense Ratio Comparison

SPSB has a 0.07% expense ratio, which is lower than TSEC's 0.40% expense ratio.

Dividends

SPSB vs. TSEC - Dividend Comparison

SPSB's dividend yield for the trailing twelve months is around 4.41%, less than TSEC's 7.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TSEC Touchstone Securitized Income ETF	7.30%	6.47%	5.83%	2.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPSB and TSEC in my portfolio?

SPSB and TSEC have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPSB or TSEC?

TSEC has higher volatility (0.53%) compared to SPSB (0.35%). In terms of maximum drawdown, SPSB dropped -11.75% vs TSEC's -1.78%.

Which ETF is better, SPSB or TSEC?

On 1-year performance, TSEC leads with 6.08% vs 4.29% for SPSB. On fees, SPSB is cheaper at 0.07% per year. On volatility, SPSB has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPSB or TSEC?

Over the 1-year period, TSEC has performed better with a 6.08% return vs 4.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPSB or TSEC?

SPSB is cheaper with a 0.07% expense ratio, compared with 0.40% for TSEC.

Which ETF pays a higher dividend yield, SPSB or TSEC?

TSEC has the higher dividend yield at 7.30%, compared with 4.41% for SPSB.

What is the main difference between SPSB and TSEC?

SPSB is categorized as Corporate Bonds, while TSEC is Short-Term Bond. They also come from different issuers: State Street and Touchstone. Their fees differ too: 0.07% for SPSB and 0.40% for TSEC.

Which has better risk-adjusted returns?

SPSB currently has the higher Sharpe Ratio (3.25 vs 2.27), 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.