SPTB vs. TLTX

Last updated Jun 23, 2026

SPTB (State Street SPDR Portfolio Treasury ETF) and TLTX (Global X Treasury Bond Enhanced Income ETF) are both Government Bonds funds. SPTB is passively managed, while TLTX is actively managed. A 0.58 correlation means they provide meaningful diversification when combined. SPTB charges 0.03%/yr vs 0.29%/yr for TLTX.

Performance

SPTB vs. TLTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio Treasury ETF (SPTB) and Global X Treasury Bond Enhanced Income ETF (TLTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPTB achieves a 0.08% return, which is significantly lower than TLTX's 2.75% return.

SPTB

• 1D: -0.24%
• 1M: 0.42%
• YTD: 0.08%
• 6M: 0.14%
• 1Y: 3.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TLTX

• 1D: 0.82%
• 1M: 3.70%
• YTD: 2.75%
• 6M: 2.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPTB vs. TLTX - Yearly Performance Comparison

	2026 (YTD)	2025
SPTB State Street SPDR Portfolio Treasury ETF	0.08%	3.49%
TLTX Global X Treasury Bond Enhanced Income ETF	2.75%	6.02%

Correlation

The correlation between SPTB and TLTX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025	0.58

Return for Risk

SPTB vs. TLTX — 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: 27
SPTB Omega Ratio Rank: 24
SPTB Calmar Ratio Rank: 24
SPTB Martin Ratio Rank: 24

TLTX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. TLTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio Treasury ETF (SPTB) and Global X Treasury Bond Enhanced Income ETF (TLTX). 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	TLTX	Difference
Sharpe ratio: Return per unit of total volatility	0.93	—	—
Sortino ratio: Return per unit of downside risk	1.42	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	1.14	—	—
Martin ratio: Return relative to average drawdown	3.15	—	—

Drawdowns

SPTB vs. TLTX - Drawdown Comparison

The maximum SPTB drawdown since its inception was -4.96%, smaller than the maximum TLTX drawdown of -6.35%. Use the drawdown chart below to compare losses from any high point for SPTB and TLTX.

Drawdown Indicators

	SPTB	TLTX	Difference
Max Drawdown Largest peak-to-trough decline	-4.96%	-6.35%	+1.39%
Max Drawdown (1Y) Largest decline over 1 year	-2.90%	—	—
Current Drawdown Current decline from peak	-1.80%	-1.05%	-0.75%
Average Drawdown Average peak-to-trough decline	-1.33%	-2.29%	+0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	—	—

Volatility

Volatility by Period

	SPTB	TLTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.95%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.54%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.57%	9.13%	-5.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.40%	9.13%	-4.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.40%	9.13%	-4.73%

SPTB vs. TLTX - Expense Ratio Comparison

SPTB has a 0.03% expense ratio, which is lower than TLTX's 0.29% expense ratio.

Dividends

SPTB vs. TLTX - Dividend Comparison

SPTB's dividend yield for the trailing twelve months is around 4.19%, less than TLTX's 16.98% yield.

Position	TTM	2025	2024
SPTB State Street SPDR Portfolio Treasury ETF	4.19%	4.23%	2.76%
TLTX Global X Treasury Bond Enhanced Income ETF	16.98%	7.54%	0.00%

Frequently Asked Questions

Can I hold both SPTB and TLTX in my portfolio?

SPTB and TLTX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPTB or TLTX?

On fees, SPTB is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPTB or TLTX?

SPTB is cheaper with a 0.03% expense ratio, compared with 0.29% for TLTX.

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

TLTX has the higher dividend yield at 16.98%, compared with 4.19% for SPTB.

What is the main difference between SPTB and TLTX?

They also come from different issuers: State Street and Global X. Their fees differ too: 0.03% for SPTB and 0.29% for TLTX.