SPTI vs. SPTB

Last updated Jun 4, 2026

SPTI (SPDR Portfolio Intermediate Term Treasury ETF) and SPTB (State Street SPDR Portfolio Treasury ETF) are both Government Bonds funds from State Street - SPTI tracks the Bloomberg 3-10 Year U.S. Treasury Bond Index while SPTB tracks the Bloomberg U.S. Treasury Index. Both are passively managed. Over the past year, SPTI returned 3.61% vs 3.87% for SPTB. With a 0.96 correlation, they move nearly in lockstep. SPTI charges 0.06%/yr vs 0.03%/yr for SPTB.

Performance

SPTI vs. SPTB - Performance Comparison

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

Returns By Period

In the year-to-date period, SPTI achieves a -0.41% return, which is significantly lower than SPTB's -0.07% 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%

SPTB

• 1D: -0.22%
• 1M: 0.08%
• YTD: -0.07%
• 6M: -0.37%
• 1Y: 3.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPTI vs. SPTB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPTI SPDR Portfolio Intermediate Term Treasury ETF	-0.41%	7.46%	2.54%
SPTB State Street SPDR Portfolio Treasury ETF	-0.07%	6.14%	2.17%

Correlation

The correlation between SPTI and SPTB is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since May 22, 2024	0.96

The correlation between SPTI and SPTB has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

SPTI vs. SPTB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPTI

SPTI Risk / Return Rank: 28
SPTI Sharpe Ratio Rank: 29
SPTI Sortino Ratio Rank: 29
SPTI Omega Ratio Rank: 27
SPTI Calmar Ratio Rank: 27
SPTI Martin Ratio Rank: 27

SPTB

SPTB Risk / Return Rank: 29
SPTB Sharpe Ratio Rank: 29
SPTB Sortino Ratio Rank: 30
SPTB Omega Ratio Rank: 28
SPTB Calmar Ratio Rank: 28
SPTB Martin Ratio Rank: 28

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.

SPTI vs. SPTB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Intermediate Term Treasury ETF (SPTI) and State Street SPDR Portfolio Treasury ETF (SPTB). 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	SPTB	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.07	-0.01
Sortino ratio: Return per unit of downside risk	1.61	1.62	0.00
Omega ratio: Gain probability vs. loss probability	1.19	1.19	0.00
Calmar ratio: Return relative to maximum drawdown	1.30	1.34	-0.04
Martin ratio: Return relative to average drawdown	3.90	3.98	-0.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPTI vs. SPTB - Sharpe Ratio Comparison

The current SPTI Sharpe Ratio is 1.06, which is comparable to the SPTB Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of SPTI and SPTB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPTI	SPTB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	1.07	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.92	-0.37

Drawdowns

SPTI vs. SPTB - Drawdown Comparison

The maximum SPTI drawdown since its inception was -16.12%, which is greater than SPTB's maximum drawdown of -4.96%. Use the drawdown chart below to compare losses from any high point for SPTI and SPTB.

Drawdown Indicators

	SPTI	SPTB	Difference
Max Drawdown Largest peak-to-trough decline	-16.12%	-4.96%	-11.16%
Max Drawdown (1Y) Largest decline over 1 year	-2.80%	-2.90%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-4.35%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.06%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-16.12%	—	—
Current Drawdown Current decline from peak	-2.39%	-1.94%	-0.45%
Average Drawdown Average peak-to-trough decline	-2.92%	-1.32%	-1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.98%	-0.05%

Volatility

SPTI vs. SPTB - Volatility Comparison

The current volatility for SPDR Portfolio Intermediate Term Treasury ETF (SPTI) is 1.05%, while State Street SPDR Portfolio Treasury ETF (SPTB) has a volatility of 1.11%. This indicates that SPTI experiences smaller price fluctuations and is considered to be less risky than SPTB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPTI	SPTB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	1.11%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	2.33%	2.47%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	3.41%	3.64%	-0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.35%	4.42%	+0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.37%	4.42%	-0.05%

SPTI vs. SPTB - Expense Ratio Comparison

SPTI has a 0.06% expense ratio, which is higher than SPTB'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. SPTB - Dividend Comparison

SPTI's dividend yield for the trailing twelve months is around 3.86%, less than SPTB's 4.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPTB State Street SPDR Portfolio Treasury ETF	4.20%	4.23%	2.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both SPTI and SPTB in my portfolio?

With a correlation of 0.95, SPTI and SPTB 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.

Which is riskier, SPTI or SPTB?

SPTB has higher volatility (1.11%) compared to SPTI (1.05%). In terms of maximum drawdown, SPTI dropped -16.12% vs SPTB's -4.96%.

Which ETF is better, SPTI or SPTB?

On 1-year performance, SPTB leads with 3.87% vs 3.61% for SPTI. On fees, SPTB is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPTI or SPTB?

Over the 1-year period, SPTB has performed better with a 3.87% return vs 3.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPTI or SPTB?

SPTB is cheaper with a 0.03% expense ratio, compared with 0.06% for SPTI.

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

SPTB has the higher dividend yield at 4.20%, compared with 3.86% for SPTI.

What is the main difference between SPTI and SPTB?

SPTI tracks Bloomberg 3-10 Year U.S. Treasury Bond Index, while SPTB tracks Bloomberg U.S. Treasury Index. Their fees differ too: 0.06% for SPTI and 0.03% for SPTB.

Which has better risk-adjusted returns?

SPTB currently has the higher Sharpe Ratio (1.07 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.