SPSB vs. USIG

Last updated Jun 4, 2026

SPSB (SPDR Portfolio Short Term Corporate Bond ETF) and USIG (iShares Broad USD Investment Grade Corporate Bond ETF) are both Corporate Bonds funds - SPSB tracks the Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index while USIG tracks the ICE BofA US Corporate. Both are passively managed. Over the past 10 years, SPSB returned 2.63%/yr vs 2.63%/yr for USIG. At a 0.49 correlation, their price movements are largely independent. SPSB charges 0.07%/yr vs 0.04%/yr for USIG.

Performance

SPSB vs. USIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Short Term Corporate Bond ETF (SPSB) and iShares Broad USD Investment Grade Corporate Bond ETF (USIG). 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 higher than USIG's 0.56% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: SPSB at 2.63% and USIG at 2.63%.

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%

USIG

• 1D: -0.23%
• 1M: 0.56%
• YTD: 0.56%
• 6M: 0.37%
• 1Y: 6.04%
• 3Y*: 5.46%
• 5Y*: 0.72%
• 10Y*: 2.63%

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

SPSB vs. USIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPSB SPDR Portfolio Short Term Corporate Bond ETF	0.84%	5.86%	5.25%	5.60%	-3.31%	-0.20%	3.83%	5.21%	1.45%	1.58%
USIG iShares Broad USD Investment Grade Corporate Bond ETF	0.56%	7.86%	2.56%	8.71%	-15.30%	-1.34%	9.44%	13.99%	-2.21%	5.75%

Correlation

The correlation between SPSB and USIG 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	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Dec 18, 2009	0.49

Over the past year, SPSB and USIG have become more correlated (0.80) than their long-term average of 0.49, meaning their price movements have been converging.

Return for Risk

SPSB vs. USIG — 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

USIG

USIG Risk / Return Rank: 42
USIG Sharpe Ratio Rank: 41
USIG Sortino Ratio Rank: 42
USIG Omega Ratio Rank: 39
USIG Calmar Ratio Rank: 44
USIG Martin Ratio Rank: 43

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. USIG - 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 Broad USD Investment Grade Corporate Bond ETF (USIG). 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	USIG	Difference
Sharpe ratio Return per unit of total volatility	3.25	1.47	+1.78
Sortino ratio Return per unit of downside risk	5.36	2.16	+3.20
Omega ratio Gain probability vs. loss probability	1.72	1.26	+0.46
Calmar ratio Return relative to maximum drawdown	4.94	2.17	+2.77
Martin ratio Return relative to average drawdown	22.90	7.07	+15.83
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. USIG - Sharpe Ratio Comparison

The current SPSB Sharpe Ratio is 3.25, which is higher than the USIG Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of SPSB and USIG, 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	USIG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.25	1.47	+1.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.36	0.11	+1.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.39	+0.48
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	0.54	+0.33

Drawdowns

SPSB vs. USIG - Drawdown Comparison

The maximum SPSB drawdown since its inception was -11.75%, smaller than the maximum USIG drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for SPSB and USIG.

Drawdown Indicators

	SPSB	USIG	Difference
Max Drawdown Largest peak-to-trough decline	-11.75%	-22.21%	+10.46%
Max Drawdown (1Y) Largest decline over 1 year	-0.87%	-2.79%	+1.92%
Max Drawdown (3Y) Largest decline over 3 years	-0.87%	-6.10%	+5.23%
Max Drawdown (5Y) Largest decline over 5 years	-5.96%	-21.45%	+15.49%
Max Drawdown (10Y) Largest decline over 10 years	-11.75%	-21.45%	+9.70%
Current Drawdown Current decline from peak	-0.14%	-0.97%	+0.83%
Average Drawdown Average peak-to-trough decline	-0.54%	-3.42%	+2.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.19%	0.86%	-0.67%

Volatility

SPSB vs. USIG - Volatility Comparison

The current volatility for SPDR Portfolio Short Term Corporate Bond ETF (SPSB) is 0.35%, while iShares Broad USD Investment Grade Corporate Bond ETF (USIG) has a volatility of 1.27%. This indicates that SPSB experiences smaller price fluctuations and is considered to be less risky than USIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPSB	USIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.35%	1.27%	-0.92%
Volatility (6M) Calculated over the trailing 6-month period	0.94%	3.04%	-2.10%
Volatility (1Y) Calculated over the trailing 1-year period	1.33%	4.13%	-2.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.98%	6.82%	-4.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.06%	6.82%	-3.76%

SPSB vs. USIG - Expense Ratio Comparison

SPSB has a 0.07% expense ratio, which is higher than USIG's 0.04% 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. USIG - Dividend Comparison

SPSB's dividend yield for the trailing twelve months is around 4.41%, less than USIG's 4.74% 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%
USIG iShares Broad USD Investment Grade Corporate Bond ETF	4.74%	4.62%	4.51%	3.94%	3.14%	2.33%	2.82%	3.37%	3.44%	3.03%	2.87%	3.24%

Frequently Asked Questions

Can I hold both SPSB and USIG in my portfolio?

SPSB and USIG 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.

Which is riskier, SPSB or USIG?

USIG has higher volatility (1.27%) compared to SPSB (0.35%). In terms of maximum drawdown, SPSB dropped -11.75% vs USIG's -22.21%.

Which ETF is better, SPSB or USIG?

On 10-year performance, USIG leads with 2.63% vs 2.63% for SPSB. On fees, USIG is cheaper at 0.04% 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 USIG?

Over the 10-year period, USIG has performed better with a 2.63% return vs 2.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPSB or USIG?

USIG is cheaper with a 0.04% expense ratio, compared with 0.07% for SPSB.

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

USIG has the higher dividend yield at 4.74%, compared with 4.41% for SPSB.

What is the main difference between SPSB and USIG?

SPSB tracks Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index, while USIG tracks ICE BofA US Corporate. They also come from different issuers: State Street and iShares. Their fees differ too: 0.07% for SPSB and 0.04% for USIG.

Which has better risk-adjusted returns?

SPSB currently has the higher Sharpe Ratio (3.25 vs 1.47), 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.