SPTB vs. LDRT

Last updated Jul 14, 2026

SPTB (State Street SPDR Portfolio Treasury ETF) and LDRT (iShares iBonds 1-5 Year Treasury Ladder ETF) are both Government Bonds funds - SPTB tracks the Bloomberg U.S. Treasury Index while LDRT tracks the BlackRock iBonds® 1-5 Year Treasury Ladder Index. Both are passively managed. Over the past year, SPTB returned 2.80% vs 3.34% for LDRT. A 0.65 correlation means they provide meaningful diversification when combined. SPTB charges 0.03%/yr vs 0.07%/yr for LDRT.

Performance

SPTB vs. LDRT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio Treasury ETF (SPTB) and iShares iBonds 1-5 Year Treasury Ladder ETF (LDRT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPTB achieves a -0.32% return, which is significantly lower than LDRT's 0.57% return.

SPTB

• 1D: -0.27%
• 1M: -0.45%
• 6M: -0.47%
• YTD: -0.32%
• 1Y: 2.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LDRT

• 1D: -0.18%
• 1M: -0.25%
• 6M: 0.59%
• YTD: 0.57%
• 1Y: 3.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPTB vs. LDRT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPTB State Street SPDR Portfolio Treasury ETF	-0.32%	6.14%	-0.59%
LDRT iShares iBonds 1-5 Year Treasury Ladder ETF	0.57%	5.55%	0.44%

Correlation

The correlation between SPTB and LDRT is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (All Time) Calculated using the full available price history since Nov 8, 2024	0.65

The correlation between SPTB and LDRT has been stable across timeframes, ranging from 0.65 to 0.65 - a consistent structural relationship.

Return for Risk

SPTB vs. LDRT — Risk / Return Rank

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

SPTB

SPTB Risk / Return Rank: 25
SPTB Sharpe Ratio Rank: 27
SPTB Sortino Ratio Rank: 26
SPTB Omega Ratio Rank: 24
SPTB Calmar Ratio Rank: 25
SPTB Martin Ratio Rank: 25

LDRT

LDRT Risk / Return Rank: 52
LDRT Sharpe Ratio Rank: 41
LDRT Sortino Ratio Rank: 41
LDRT Omega Ratio Rank: 45
LDRT Calmar Ratio Rank: 74
LDRT Martin Ratio Rank: 56

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.

SPTB vs. LDRT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio Treasury ETF (SPTB) and iShares iBonds 1-5 Year Treasury Ladder ETF (LDRT). 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.

	SPTB	LDRT	Difference
Sharpe ratio: Return per unit of total volatility	0.79	1.17	-0.38
Sortino ratio: Return per unit of downside risk	1.19	1.72	-0.53
Omega ratio: Gain probability vs. loss probability	1.14	1.24	-0.10
Calmar ratio: Return relative to maximum drawdown	0.97	3.01	-2.04
Martin ratio: Return relative to average drawdown	2.55	7.81	-5.26

SPTB vs. LDRT - Sharpe Ratio Comparison

The current SPTB Sharpe Ratio is 0.79, which is lower than the LDRT Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of SPTB and LDRT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPTB vs. LDRT - Drawdown Comparison

The maximum SPTB drawdown since its inception was -4.96%, which is greater than LDRT's maximum drawdown of -1.11%. Use the drawdown chart below to compare losses from any high point for SPTB and LDRT.

Drawdown Indicators

	SPTB	LDRT	Difference
Max Drawdown Largest peak-to-trough decline	-4.96%	-1.11%	-3.85%
Max Drawdown (1Y) Largest decline over 1 year	-2.90%	-1.11%	-1.79%
Current Drawdown Current decline from peak	-2.19%	-0.72%	-1.47%
Average Drawdown Average peak-to-trough decline	-1.34%	-0.33%	-1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	0.43%	+0.67%

Volatility

SPTB vs. LDRT - Volatility Comparison

State Street SPDR Portfolio Treasury ETF (SPTB) has a higher volatility of 1.18% compared to iShares iBonds 1-5 Year Treasury Ladder ETF (LDRT) at 0.92%. This indicates that SPTB's price experiences larger fluctuations and is considered to be riskier than LDRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPTB	LDRT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.18%	0.92%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	2.65%	1.79%	+0.86%
Volatility (1Y) Calculated over the trailing 1-year period	3.57%	2.87%	+0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.39%	2.80%	+1.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.39%	2.80%	+1.59%

SPTB vs. LDRT - Expense Ratio Comparison

SPTB has a 0.03% expense ratio, which is lower than LDRT's 0.07% 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

SPTB vs. LDRT - Dividend Comparison

SPTB's dividend yield for the trailing twelve months is around 4.21%, more than LDRT's 4.08% yield.

Position	TTM	2025	2024
LDRT iShares iBonds 1-5 Year Treasury Ladder ETF	4.08%	3.86%	0.69%
SPTB State Street SPDR Portfolio Treasury ETF	4.21%	4.23%	2.76%

Frequently Asked Questions

Can I hold both SPTB and LDRT in my portfolio?

SPTB and LDRT have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPTB or LDRT?

SPTB has higher volatility (1.18%) compared to LDRT (0.92%). In terms of maximum drawdown, SPTB dropped -4.96% vs LDRT's -1.11%.

Which ETF is better, SPTB or LDRT?

On 1-year performance, LDRT leads with 3.34% vs 2.80% for SPTB. On fees, SPTB is cheaper at 0.03% per year. On volatility, LDRT has been the lower-risk option at 0.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPTB or LDRT?

Over the 1-year period, LDRT has performed better with a 3.34% return vs 2.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPTB or LDRT?

SPTB is cheaper with a 0.03% expense ratio, compared with 0.07% for LDRT.

Which ETF pays a higher dividend yield, SPTB or LDRT?

SPTB has the higher dividend yield at 4.21%, compared with 4.08% for LDRT.

What is the main difference between SPTB and LDRT?

SPTB tracks Bloomberg U.S. Treasury Index, while LDRT tracks BlackRock iBonds® 1-5 Year Treasury Ladder Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.03% for SPTB and 0.07% for LDRT.

Which has better risk-adjusted returns?

LDRT currently has the higher Sharpe Ratio (1.17 vs 0.79), 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.