SPTB vs. SPYM
SPTB (State Street SPDR Portfolio Treasury ETF) and SPYM (State Street SPDR Portfolio S&P 500 ETF) are both exchange-traded funds - SPTB is a Government Bonds fund tracking the Bloomberg U.S. Treasury Index, while SPYM is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, SPTB returned 3.35% vs 22.22% for SPYM. At a 0.12 correlation, their price movements are largely independent. SPTB charges 0.03%/yr vs 0.02%/yr for SPYM.
Performance
SPTB vs. SPYM - Performance Comparison
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Returns By Period
In the year-to-date period, SPTB achieves a 0.68% return, which is significantly lower than SPYM's 8.16% return.
SPTB
- 1D
- 0.02%
- 1M
- 0.87%
- YTD
- 0.68%
- 6M
- 0.54%
- 1Y
- 3.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYM
- 1D
- 0.06%
- 1M
- -2.03%
- YTD
- 8.16%
- 6M
- 6.82%
- 1Y
- 22.22%
- 3Y*
- 20.92%
- 5Y*
- 13.05%
- 10Y*
- 15.85%
SPTB vs. SPYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPTB State Street SPDR Portfolio Treasury ETF | 0.68% | 6.14% | 2.17% |
SPYM State Street SPDR Portfolio S&P 500 ETF | 8.16% | 17.79% | 11.69% |
Correlation
The correlation between SPTB and SPYM is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since May 21, 2024 | 0.12 |
The correlation between SPTB and SPYM shifts across timeframes, from 0.12 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPTB vs. SPYM — Risk / Return Rank
SPTB
SPYM
SPTB vs. SPYM - 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 ETF (SPYM). 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 | SPYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.33 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 2.51 | -1.35 |
| Martin ratioReturn relative to average drawdown | 3.16 | 11.10 | -7.94 |
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Drawdowns
SPTB vs. SPYM - Drawdown Comparison
The maximum SPTB drawdown since its inception was -4.96%, smaller than the maximum SPYM drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for SPTB and SPYM.
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Drawdown Indicators
| SPTB | SPYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.96% | -54.46% | +49.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.90% | -8.90% | +6.00% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.72% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.48% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.87% | — |
Current DrawdownCurrent decline from peak | -1.21% | -3.19% | +1.98% |
Average DrawdownAverage peak-to-trough decline | -1.33% | -7.14% | +5.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 2.01% | -0.95% |
Volatility
SPTB vs. SPYM - Volatility Comparison
The current volatility for State Street SPDR Portfolio Treasury ETF (SPTB) is 1.03%, while State Street SPDR Portfolio S&P 500 ETF (SPYM) has a volatility of 4.75%. This indicates that SPTB experiences smaller price fluctuations and is considered to be less risky than SPYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPTB | SPYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 4.75% | -3.72% |
Volatility (6M)Calculated over the trailing 6-month period | 2.58% | 9.78% | -7.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.57% | 12.39% | -8.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.40% | 16.90% | -12.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.40% | 18.02% | -13.62% |
SPTB vs. SPYM - Expense Ratio Comparison
SPTB has a 0.03% expense ratio, which is higher than SPYM's 0.02% 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
SPTB vs. SPYM - Dividend Comparison
SPTB's dividend yield for the trailing twelve months is around 4.17%, more than SPYM's 1.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPTB State Street SPDR Portfolio Treasury ETF | 4.17% | 4.23% | 2.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPYM State Street SPDR Portfolio S&P 500 ETF | 1.30% | 1.13% | 1.28% | 1.44% | 1.69% | 1.25% | 1.54% | 1.79% | 2.23% | 1.75% | 1.97% | 1.98% |
Frequently Asked Questions
SPTB and SPYM have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPYM has higher volatility (4.75%) compared to SPTB (1.03%). In terms of maximum drawdown, SPTB dropped -4.96% vs SPYM's -54.46%.
On 1-year performance, SPYM leads with 22.22% vs 3.35% for SPTB. On fees, SPYM is cheaper at 0.02% per year. On volatility, SPTB has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPYM has performed better with a 22.22% return vs 3.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYM is cheaper with a 0.02% expense ratio, compared with 0.03% for SPTB.
SPTB has the higher dividend yield at 4.17%, compared with 1.30% for SPYM.
SPTB is categorized as Government Bonds, while SPYM is S&P 500. SPTB tracks Bloomberg U.S. Treasury Index, while SPYM tracks S&P 500 Index. Their fees differ too: 0.03% for SPTB and 0.02% for SPYM.
SPYM currently has the higher Sharpe Ratio (1.80 vs 0.94), 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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