SPTB vs. SPYG
SPTB (State Street SPDR Portfolio Treasury ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - SPTB is a Government Bonds fund tracking the Bloomberg U.S. Treasury Index, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. Both are passively managed. Over the past year, SPTB returned 3.31% vs 31.61% for SPYG. At a 0.06 correlation, their price movements are largely independent. SPTB charges 0.03%/yr vs 0.04%/yr for SPYG.
Performance
SPTB vs. SPYG - Performance Comparison
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Returns By Period
In the year-to-date period, SPTB achieves a 0.08% return, which is significantly lower than SPYG's 11.38% return.
SPTB
- 1D
- -0.24%
- 1M
- 0.42%
- YTD
- 0.08%
- 6M
- 0.14%
- 1Y
- 3.31%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYG
- 1D
- -0.71%
- 1M
- 0.34%
- YTD
- 11.38%
- 6M
- 11.00%
- 1Y
- 31.61%
- 3Y*
- 26.51%
- 5Y*
- 14.78%
- 10Y*
- 18.34%
SPTB vs. SPYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPTB State Street SPDR Portfolio Treasury ETF | 0.08% | 6.14% | 2.17% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 11.38% | 22.09% | 17.45% |
Correlation
The correlation between SPTB and SPYG is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since May 21, 2024 | 0.06 |
The correlation between SPTB and SPYG shifts across timeframes, from 0.06 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPTB vs. SPYG — Risk / Return Rank
SPTB
SPYG
SPTB vs. SPYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio Treasury ETF (SPTB) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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 | SPYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.33 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 2.31 | -1.16 |
| Martin ratioReturn relative to average drawdown | 3.15 | 9.21 | -6.06 |
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Drawdowns
SPTB vs. SPYG - Drawdown Comparison
The maximum SPTB drawdown since its inception was -4.96%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for SPTB and SPYG.
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Drawdown Indicators
| SPTB | SPYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.96% | -67.63% | +62.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.90% | -13.76% | +10.86% |
Max Drawdown (3Y)Largest decline over 3 years | — | -22.14% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.67% | — |
Current DrawdownCurrent decline from peak | -1.80% | -3.19% | +1.39% |
Average DrawdownAverage peak-to-trough decline | -1.33% | -24.28% | +22.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 3.44% | -2.39% |
Volatility
SPTB vs. SPYG - Volatility Comparison
The current volatility for State Street SPDR Portfolio Treasury ETF (SPTB) is 0.95%, while State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a volatility of 6.83%. This indicates that SPTB experiences smaller price fluctuations and is considered to be less risky than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPTB | SPYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 6.83% | -5.88% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 13.72% | -11.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.57% | 17.11% | -13.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.40% | 21.34% | -16.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.40% | 20.74% | -16.34% |
SPTB vs. SPYG - Expense Ratio Comparison
SPTB has a 0.03% expense ratio, which is lower than SPYG's 0.04% 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. SPYG - Dividend Comparison
SPTB's dividend yield for the trailing twelve months is around 4.19%, more than SPYG's 0.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPTB State Street SPDR Portfolio Treasury ETF | 4.19% | 4.23% | 2.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 0.60% | 0.52% | 0.60% | 1.15% | 1.03% | 0.62% | 0.90% | 1.37% | 1.51% | 1.41% | 1.55% | 1.57% |
Frequently Asked Questions
SPTB and SPYG have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPYG has higher volatility (6.83%) compared to SPTB (0.95%). In terms of maximum drawdown, SPTB dropped -4.96% vs SPYG's -67.63%.
On 1-year performance, SPYG leads with 31.61% vs 3.31% for SPTB. On fees, SPTB is cheaper at 0.03% per year. On volatility, SPTB has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPYG has performed better with a 31.61% return vs 3.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTB is cheaper with a 0.03% expense ratio, compared with 0.04% for SPYG.
SPTB has the higher dividend yield at 4.19%, compared with 0.60% for SPYG.
SPTB is categorized as Government Bonds, while SPYG is S&P 500. SPTB tracks Bloomberg U.S. Treasury Index, while SPYG tracks S&P 500 Growth Index. Their fees differ too: 0.03% for SPTB and 0.04% for SPYG.
SPYG currently has the higher Sharpe Ratio (1.86 vs 0.93), 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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