SPTI vs. SPMB
SPTI (SPDR Portfolio Intermediate Term Treasury ETF) and SPMB (SPDR Portfolio Mortgage Backed Bond ETF) are both exchange-traded funds - SPTI is a Government Bonds fund tracking the Bloomberg 3-10 Year U.S. Treasury Bond Index, while SPMB is a Mortgage Backed Securities fund tracking the Bloomberg US Aggregate Securitized - MBS. Both are passively managed. Over the past 10 years, SPTI returned 1.33%/yr vs 1.21%/yr for SPMB. A 0.62 correlation means they provide meaningful diversification when combined. SPTI charges 0.06%/yr vs 0.04%/yr for SPMB.
Performance
SPTI vs. SPMB - Performance Comparison
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Returns By Period
In the year-to-date period, SPTI achieves a -0.41% return, which is significantly lower than SPMB's 0.51% return. Over the past 10 years, SPTI has outperformed SPMB with an annualized return of 1.33%, while SPMB has yielded a comparatively lower 1.21% annualized return.
SPTI
- 1D
- -0.18%
- 1M
- -0.13%
- YTD
- -0.41%
- 6M
- -0.57%
- 1Y
- 3.61%
- 3Y*
- 3.44%
- 5Y*
- 0.04%
- 10Y*
- 1.33%
SPMB
- 1D
- -0.22%
- 1M
- 0.27%
- YTD
- 0.51%
- 6M
- 0.64%
- 1Y
- 6.74%
- 3Y*
- 4.32%
- 5Y*
- 0.29%
- 10Y*
- 1.21%
SPTI vs. SPMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPTI SPDR Portfolio Intermediate Term Treasury ETF | -0.41% | 7.46% | 1.32% | 4.24% | -10.65% | -2.55% | 7.70% | 6.01% | 2.27% | 1.04% |
SPMB SPDR Portfolio Mortgage Backed Bond ETF | 0.51% | 8.29% | 1.35% | 5.09% | -12.05% | -1.46% | 4.19% | 6.16% | 1.01% | 2.13% |
Correlation
The correlation between SPTI and SPMB is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2009 | 0.62 |
Over the past year, SPTI and SPMB have become more correlated (0.91) than their long-term average of 0.62, meaning their price movements have been converging.
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Return for Risk
SPTI vs. SPMB — Risk / Return Rank
SPTI
SPMB
SPTI vs. SPMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Intermediate Term Treasury ETF (SPTI) and SPDR Portfolio Mortgage Backed Bond ETF (SPMB). 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.
| SPTI | SPMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.29 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 2.34 | -1.04 |
| Martin ratioReturn relative to average drawdown | 3.90 | 7.70 | -3.80 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPTI | SPMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.06 | 1.58 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 0.04 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.16 | +0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.34 | +0.21 |
Drawdowns
SPTI vs. SPMB - Drawdown Comparison
The maximum SPTI drawdown since its inception was -16.12%, smaller than the maximum SPMB drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for SPTI and SPMB.
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Drawdown Indicators
| SPTI | SPMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.12% | -18.03% | +1.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -2.89% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -4.35% | -7.66% | +3.31% |
Max Drawdown (5Y)Largest decline over 5 years | -15.06% | -17.49% | +2.43% |
Max Drawdown (10Y)Largest decline over 10 years | -16.12% | -18.03% | +1.91% |
Current DrawdownCurrent decline from peak | -2.39% | -1.58% | -0.81% |
Average DrawdownAverage peak-to-trough decline | -2.92% | -2.85% | -0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.88% | +0.05% |
Volatility
SPTI vs. SPMB - Volatility Comparison
The current volatility for SPDR Portfolio Intermediate Term Treasury ETF (SPTI) is 1.05%, while SPDR Portfolio Mortgage Backed Bond ETF (SPMB) has a volatility of 1.58%. This indicates that SPTI experiences smaller price fluctuations and is considered to be less risky than SPMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPTI | SPMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 1.58% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 2.33% | 3.08% | -0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.41% | 4.28% | -0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.35% | 6.77% | -1.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.37% | 7.61% | -3.24% |
SPTI vs. SPMB - Expense Ratio Comparison
SPTI has a 0.06% expense ratio, which is higher than SPMB's 0.04% 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. SPMB - Dividend Comparison
SPTI's dividend yield for the trailing twelve months is around 3.86%, less than SPMB's 4.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPMB SPDR Portfolio Mortgage Backed Bond ETF | 4.09% | 3.98% | 3.76% | 3.21% | 2.98% | 2.59% | 2.95% | 3.24% | 3.36% | 3.13% | 2.99% | 3.05% |
SPTI SPDR Portfolio Intermediate Term Treasury ETF | 3.86% | 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 0.91, SPTI and SPMB 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.
SPMB has higher volatility (1.58%) compared to SPTI (1.05%). In terms of maximum drawdown, SPTI dropped -16.12% vs SPMB's -18.03%.
On 10-year performance, SPTI leads with 1.33% vs 1.21% for SPMB. On fees, SPMB is cheaper at 0.04% per year. On volatility, SPTI has been the lower-risk option at 1.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPTI has performed better with a 1.33% return vs 1.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPMB is cheaper with a 0.04% expense ratio, compared with 0.06% for SPTI.
SPMB has the higher dividend yield at 4.09%, compared with 3.86% for SPTI.
SPTI is categorized as Government Bonds, while SPMB is Mortgage Backed Securities. SPTI tracks Bloomberg 3-10 Year U.S. Treasury Bond Index, while SPMB tracks Bloomberg US Aggregate Securitized - MBS. Their fees differ too: 0.06% for SPTI and 0.04% for SPMB.
SPMB currently has the higher Sharpe Ratio (1.58 vs 1.06), 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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