SPSK vs. BWX
SPSK (SP Funds Dow Jones Global Sukuk ETF) and BWX (SPDR Bloomberg Barclays International Treasury Bond ETF) are both exchange-traded funds - SPSK is a Global Bonds fund tracking the Dow Jones Sukuk Total Return (No Coupon Reinvestment), while BWX is a International Government Bonds fund tracking the Bloomberg Global Treasury x US Capped (Inception 8/31/2007). Both are passively managed. Over the past 5 years, SPSK returned 0.76%/yr vs -4.69%/yr for BWX. At a 0.35 correlation, their price movements are largely independent. SPSK charges 0.50%/yr vs 0.35%/yr for BWX.
Performance
SPSK vs. BWX - Performance Comparison
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Returns By Period
In the year-to-date period, SPSK achieves a -0.36% return, which is significantly higher than BWX's -2.76% return.
SPSK
- 1D
- -0.22%
- 1M
- -0.65%
- YTD
- -0.36%
- 6M
- -0.27%
- 1Y
- 3.52%
- 3Y*
- 4.01%
- 5Y*
- 0.76%
- 10Y*
- —
BWX
- 1D
- -0.18%
- 1M
- -2.88%
- YTD
- -2.76%
- 6M
- -2.15%
- 1Y
- -3.08%
- 3Y*
- 0.70%
- 5Y*
- -4.69%
- 10Y*
- -1.39%
SPSK vs. BWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPSK SP Funds Dow Jones Global Sukuk ETF | -0.36% | 6.16% | 2.95% | 3.95% | -7.75% | -1.30% | 3.67% | 0.02% |
BWX SPDR Bloomberg Barclays International Treasury Bond ETF | -2.76% | 7.67% | -5.93% | 5.10% | -19.72% | -8.67% | 9.50% | 0.38% |
Correlation
The correlation between SPSK and BWX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2019 | 0.35 |
The correlation between SPSK and BWX shifts across timeframes, from 0.35 (3 years) to 0.49 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPSK vs. BWX — Risk / Return Rank
SPSK
BWX
SPSK vs. BWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SP Funds Dow Jones Global Sukuk ETF (SPSK) and SPDR Bloomberg Barclays International Treasury Bond ETF (BWX). 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.
| SPSK | BWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.33 | ||
| Sortino ratioReturn per unit of downside risk | +1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.94 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | -0.50 | +1.74 |
| Martin ratioReturn relative to average drawdown | 4.14 | -1.01 | +5.15 |
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
| SPSK | BWX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | -0.40 | +1.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | -0.49 | +0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.05 | +0.14 |
Drawdowns
SPSK vs. BWX - Drawdown Comparison
The maximum SPSK drawdown since its inception was -12.83%, smaller than the maximum BWX drawdown of -34.05%. Use the drawdown chart below to compare losses from any high point for SPSK and BWX.
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Drawdown Indicators
| SPSK | BWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.83% | -34.05% | +21.22% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -6.16% | +3.31% |
Max Drawdown (3Y)Largest decline over 3 years | -3.17% | -10.22% | +7.05% |
Max Drawdown (5Y)Largest decline over 5 years | -12.45% | -31.25% | +18.80% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.05% | — |
Current DrawdownCurrent decline from peak | -1.41% | -24.64% | +23.23% |
Average DrawdownAverage peak-to-trough decline | -3.82% | -10.05% | +6.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 3.06% | -2.21% |
Volatility
SPSK vs. BWX - Volatility Comparison
The current volatility for SP Funds Dow Jones Global Sukuk ETF (SPSK) is 0.94%, while SPDR Bloomberg Barclays International Treasury Bond ETF (BWX) has a volatility of 2.33%. This indicates that SPSK experiences smaller price fluctuations and is considered to be less risky than BWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPSK | BWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 2.33% | -1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 5.83% | -3.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 7.72% | -3.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.29% | 9.69% | -4.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.46% | 8.66% | -3.20% |
SPSK vs. BWX - Expense Ratio Comparison
SPSK has a 0.50% expense ratio, which is higher than BWX's 0.35% expense ratio.
Dividends
SPSK vs. BWX - Dividend Comparison
SPSK's dividend yield for the trailing twelve months is around 4.26%, more than BWX's 2.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BWX SPDR Bloomberg Barclays International Treasury Bond ETF | 2.39% | 2.19% | 1.99% | 1.63% | 1.23% | 0.93% | 0.95% | 1.16% | 1.07% | 0.46% |
SPSK SP Funds Dow Jones Global Sukuk ETF | 4.26% | 3.63% | 3.53% | 2.95% | 2.22% | 2.56% | 1.78% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPSK and BWX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BWX has higher volatility (2.33%) compared to SPSK (0.94%). In terms of maximum drawdown, SPSK dropped -12.83% vs BWX's -34.05%.
On 5-year performance, SPSK leads with 0.76% vs -4.69% for BWX. On fees, BWX is cheaper at 0.35% per year. On volatility, SPSK has been the lower-risk option at 0.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPSK has performed better with a 0.76% return vs -4.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BWX is cheaper with a 0.35% expense ratio, compared with 0.50% for SPSK.
SPSK has the higher dividend yield at 4.26%, compared with 2.39% for BWX.
SPSK is categorized as Global Bonds, while BWX is International Government Bonds. SPSK tracks Dow Jones Sukuk Total Return (No Coupon Reinvestment), while BWX tracks Bloomberg Global Treasury x US Capped (Inception 8/31/2007). They also come from different issuers: SP Funds and State Street. Their fees differ too: 0.50% for SPSK and 0.35% for BWX.
SPSK currently has the higher Sharpe Ratio (0.92 vs -0.40), 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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