SPSB vs. ZTWO
SPSB (SPDR Portfolio Short Term Corporate Bond ETF) and ZTWO (F/M 2-Year Investment Grade Corporate Bond 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 ZTWO is a Short-Term Bond fund tracking the ICE 2-Year US Target Maturity Corporate Index - Benchmark TR Gross. Both are passively managed. Over the past year, SPSB returned 4.30% vs 3.94% for ZTWO. Their correlation of 0.85 suggests significant overlap in exposure. SPSB charges 0.07%/yr vs 0.15%/yr for ZTWO.
Performance
SPSB vs. ZTWO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SPSB having a 0.97% return and ZTWO slightly lower at 0.93%.
SPSB
- 1D
- 0.13%
- 1M
- 0.33%
- YTD
- 0.97%
- 6M
- 1.38%
- 1Y
- 4.30%
- 3Y*
- 5.33%
- 5Y*
- 2.71%
- 10Y*
- 2.65%
ZTWO
- 1D
- 0.04%
- 1M
- 0.28%
- YTD
- 0.93%
- 6M
- 1.30%
- 1Y
- 3.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPSB vs. ZTWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPSB SPDR Portfolio Short Term Corporate Bond ETF | 0.97% | 5.86% | 0.30% |
ZTWO F/M 2-Year Investment Grade Corporate Bond ETF | 0.93% | 5.49% | 0.36% |
Correlation
The correlation between SPSB and ZTWO is 0.84, 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 | 0.84 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024 | 0.85 |
The correlation between SPSB and ZTWO has been stable across timeframes, ranging from 0.84 to 0.85 - a consistent structural relationship.
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Return for Risk
SPSB vs. ZTWO — Risk / Return Rank
SPSB
ZTWO
SPSB vs. ZTWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Short Term Corporate Bond ETF (SPSB) and F/M 2-Year Investment Grade Corporate Bond ETF (ZTWO). 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 | ZTWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.72 | 1.63 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.94 | 4.24 | +0.71 |
| Martin ratioReturn relative to average drawdown | 23.02 | 20.10 | +2.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPSB | ZTWO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.25 | 3.03 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.37 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 3.17 | -2.30 |
Drawdowns
SPSB vs. ZTWO - Drawdown Comparison
The maximum SPSB drawdown since its inception was -11.75%, which is greater than ZTWO's maximum drawdown of -0.93%. Use the drawdown chart below to compare losses from any high point for SPSB and ZTWO.
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Drawdown Indicators
| SPSB | ZTWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.75% | -0.93% | -10.82% |
Max Drawdown (1Y)Largest decline over 1 year | -0.87% | -0.93% | +0.06% |
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 DrawdownCurrent decline from peak | -0.01% | -0.07% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -0.54% | -0.10% | -0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 0.20% | -0.01% |
Volatility
SPSB vs. ZTWO - Volatility Comparison
The current volatility for SPDR Portfolio Short Term Corporate Bond ETF (SPSB) is 0.36%, while F/M 2-Year Investment Grade Corporate Bond ETF (ZTWO) has a volatility of 0.42%. This indicates that SPSB experiences smaller price fluctuations and is considered to be less risky than ZTWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPSB | ZTWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 0.42% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 0.95% | 0.97% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.33% | 1.31% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.98% | 1.49% | +0.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.05% | 1.49% | +1.56% |
SPSB vs. ZTWO - Expense Ratio Comparison
SPSB has a 0.07% expense ratio, which is lower than ZTWO's 0.15% expense ratio. Despite the difference, 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. ZTWO - Dividend Comparison
SPSB's dividend yield for the trailing twelve months is around 4.40%, more than ZTWO's 4.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZTWO F/M 2-Year Investment Grade Corporate Bond ETF | 4.12% | 4.31% | 0.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPSB and ZTWO have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZTWO has higher volatility (0.42%) compared to SPSB (0.36%). In terms of maximum drawdown, SPSB dropped -11.75% vs ZTWO's -0.93%.
On 1-year performance, SPSB leads with 4.30% vs 3.94% for ZTWO. On fees, SPSB is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPSB has performed better with a 4.30% return vs 3.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPSB is cheaper with a 0.07% expense ratio, compared with 0.15% for ZTWO.
SPSB has the higher dividend yield at 4.40%, compared with 4.12% for ZTWO.
SPSB is categorized as Corporate Bonds, while ZTWO is Short-Term Bond. SPSB tracks Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index, while ZTWO tracks ICE 2-Year US Target Maturity Corporate Index - Benchmark TR Gross. They also come from different issuers: State Street and F/m. Their fees differ too: 0.07% for SPSB and 0.15% for ZTWO.
SPSB currently has the higher Sharpe Ratio (3.25 vs 3.03), 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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