SPTI vs. BND
SPTI (SPDR Portfolio Intermediate Term Treasury ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - SPTI is a Government Bonds fund tracking the Bloomberg 3-10 Year U.S. Treasury Bond Index, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, SPTI returned 1.26%/yr vs 1.40%/yr for BND. Their correlation of 0.84 means they have usually moved in the same direction. SPTI charges 0.06%/yr vs 0.03%/yr for BND.
Performance
SPTI vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, SPTI achieves a -0.61% return, which is significantly lower than BND's -0.30% return. Over the past 10 years, SPTI has underperformed BND with an annualized return of 1.26%, while BND has yielded a comparatively higher 1.40% annualized return.
SPTI
- 1D
- 0.16%
- 1M
- -0.59%
- 6M
- -0.45%
- YTD
- -0.61%
- 1Y
- 1.29%
- 3Y*
- 3.69%
- 5Y*
- -0.27%
- 10Y*
- 1.26%
- ALL TIME*
- 2.47%
BND
- 1D
- 0.24%
- 1M
- -0.97%
- 6M
- -0.42%
- YTD
- -0.30%
- 1Y
- 2.00%
- 3Y*
- 4.04%
- 5Y*
- -0.43%
- 10Y*
- 1.40%
- ALL TIME*
- 3.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $459.14M | $504.12M | $590.88M | |
| $54.93M | $53.13M | $68.33M |
SPTI vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPTI SPDR Portfolio Intermediate Term Treasury ETF | -0.61% | 7.46% | 1.32% | 4.24% | -10.65% | -2.55% | 7.70% | 6.01% | 2.27% | 1.04% |
BND Vanguard Total Bond Market ETF | -0.30% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Correlation
The correlation between SPTI and BND is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.94 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.92 |
Correlation (All Time) Calculated using the full available price history since May 30, 2007 | 0.84 |
The correlation between SPTI and BND shifts across timeframes, from 0.84 (all time) to 0.95 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPTI vs. BND — Risk / Return Rank
SPTI
BND
SPTI vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Intermediate Term Treasury ETF (SPTI) and Vanguard Total Bond Market ETF (BND). 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.
| SPTI | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.09 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 0.75 | -0.29 |
| Martin ratioReturn relative to average drawdown | 1.06 | 1.86 | -0.80 |
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Drawdowns
SPTI vs. BND - Drawdown Comparison
The maximum SPTI drawdown since its inception was -16.12%, smaller than the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for SPTI and BND.
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Drawdown Indicators
| SPTI | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.12% | -18.58% | +2.46% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -2.68% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -4.35% | -4.81% | +0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -14.83% | -17.81% | +2.98% |
Max Drawdown (10Y)Largest decline over 10 years | -16.12% | -18.58% | +2.46% |
Current DrawdownCurrent decline from peak | -2.58% | -2.92% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -2.92% | -3.06% | +0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 1.07% | +0.14% |
Volatility
SPTI vs. BND - Volatility Comparison
The current volatility for SPDR Portfolio Intermediate Term Treasury ETF (SPTI) is 0.90%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.02%. This indicates that SPTI experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPTI | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 1.02% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.61% | 2.91% | -0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.25% | 3.61% | -0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.36% | 6.03% | -0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.38% | 5.53% | -1.15% |
SPTI vs. BND - Expense Ratio Comparison
SPTI has a 0.06% expense ratio, which is higher than BND's 0.03% 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
SPTI vs. BND - Dividend Comparison
SPTI's dividend yield for the trailing twelve months is around 3.90%, less than BND's 4.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 4.04% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
SPTI SPDR Portfolio Intermediate Term Treasury ETF | 3.90% | 3.79% | 3.77% | 2.99% | 1.45% | 0.53% | 0.75% | 2.02% | 1.97% | 1.46% | 1.23% | 1.18% |
Frequently Asked Questions
With a correlation of 0.94, SPTI and BND move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BND has higher volatility (1.02%) compared to SPTI (0.90%). In terms of maximum drawdown, SPTI dropped -16.12% vs BND's -18.58%.
On 10-year performance, BND leads with 1.40% vs 1.26% for SPTI. On fees, BND is cheaper at 0.03% per year. On volatility, SPTI has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BND has performed better with a 1.40% return vs 1.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BND is cheaper with a 0.03% expense ratio, compared with 0.06% for SPTI.
BND has the higher dividend yield at 4.04%, compared with 3.90% for SPTI.
SPTI is categorized as Government Bonds, while BND is Total Bond Market. SPTI tracks Bloomberg 3-10 Year U.S. Treasury Bond Index, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.06% for SPTI and 0.03% for BND.
BND currently has the higher Sharpe Ratio (0.56 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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