SPTI vs. SPTL
SPTI (SPDR Portfolio Intermediate Term Treasury ETF) and SPTL (SPDR Portfolio Long Term Treasury ETF) are both Government Bonds funds from State Street - SPTI tracks the Bloomberg 3-10 Year U.S. Treasury Bond Index while SPTL tracks the Bloomberg Long U.S. Treasury Index. Both are passively managed. Over the past 10 years, SPTI returned 1.26%/yr vs -1.74%/yr for SPTL. Their 0.80 correlation means they have sometimes moved together and sometimes differently. SPTI charges 0.06%/yr vs 0.03%/yr for SPTL.
Performance
SPTI vs. SPTL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPTI achieves a -0.61% return, which is significantly higher than SPTL's -2.92% return. Over the past 10 years, SPTI has outperformed SPTL with an annualized return of 1.26%, while SPTL has yielded a comparatively lower -1.74% 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%
SPTL
- 1D
- 0.37%
- 1M
- -3.14%
- 6M
- -2.52%
- YTD
- -2.92%
- 1Y
- -1.36%
- 3Y*
- -0.05%
- 5Y*
- -7.23%
- 10Y*
- -1.74%
- ALL TIME*
- 3.10%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $54.93M | $53.13M | $68.33M | |
| $143.80M | $126.21M | $144.82M |
SPTI vs. SPTL - 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% |
SPTL SPDR Portfolio Long Term Treasury ETF | -2.92% | 5.28% | -6.23% | 3.30% | -29.44% | -4.99% | 18.07% | 13.74% | -1.57% | 9.01% |
Correlation
The correlation between SPTI and SPTL is 0.85, 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. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.87 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.85 |
Correlation (All Time) Calculated using the full available price history since May 30, 2007 | 0.80 |
The correlation between SPTI and SPTL has been stable across timeframes, ranging from 0.80 to 0.88 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPTI vs. SPTL — Risk / Return Rank
SPTI
SPTL
SPTI vs. SPTL - 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 Long Term Treasury ETF (SPTL). 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 | SPTL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 0.98 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | -0.19 | +0.65 |
| Martin ratioReturn relative to average drawdown | 1.06 | -0.42 | +1.48 |
Loading charts...
Drawdowns
SPTI vs. SPTL - Drawdown Comparison
The maximum SPTI drawdown since its inception was -16.12%, smaller than the maximum SPTL drawdown of -46.20%. Use the drawdown chart below to compare losses from any high point for SPTI and SPTL.
Loading charts...
Drawdown Indicators
| SPTI | SPTL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.12% | -46.20% | +30.08% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -7.09% | +4.29% |
Max Drawdown (3Y)Largest decline over 3 years | -4.35% | -13.39% | +9.04% |
Max Drawdown (5Y)Largest decline over 5 years | -14.83% | -41.02% | +26.19% |
Max Drawdown (10Y)Largest decline over 10 years | -16.12% | -46.20% | +30.08% |
Current DrawdownCurrent decline from peak | -2.58% | -38.48% | +35.90% |
Average DrawdownAverage peak-to-trough decline | -2.92% | -14.43% | +11.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 3.23% | -2.02% |
Volatility
SPTI vs. SPTL - Volatility Comparison
The current volatility for SPDR Portfolio Intermediate Term Treasury ETF (SPTI) is 0.90%, while SPDR Portfolio Long Term Treasury ETF (SPTL) has a volatility of 2.32%. This indicates that SPTI experiences smaller price fluctuations and is considered to be less risky than SPTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPTI | SPTL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 2.32% | -1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 2.61% | 6.39% | -3.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.25% | 8.43% | -5.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.36% | 14.50% | -9.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.38% | 13.88% | -9.50% |
SPTI vs. SPTL - Expense Ratio Comparison
SPTI has a 0.06% expense ratio, which is higher than SPTL'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. SPTL - Dividend Comparison
SPTI's dividend yield for the trailing twelve months is around 3.90%, less than SPTL's 4.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPTL SPDR Portfolio Long Term Treasury ETF | 4.36% | 4.12% | 4.03% | 3.24% | 2.75% | 1.68% | 1.71% | 2.45% | 2.69% | 2.53% | 2.56% | 2.60% |
Frequently Asked Questions
SPTI and SPTL have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPTL has higher volatility (2.32%) compared to SPTI (0.90%). In terms of maximum drawdown, SPTI dropped -16.12% vs SPTL's -46.20%.
On 10-year performance, SPTI leads with 1.26% vs -1.74% for SPTL. On fees, SPTL 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, SPTI has performed better with a 1.26% return vs -1.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTL is cheaper with a 0.03% expense ratio, compared with 0.06% for SPTI.
SPTL has the higher dividend yield at 4.36%, compared with 3.90% for SPTI.
SPTI tracks Bloomberg 3-10 Year U.S. Treasury Bond Index, while SPTL tracks Bloomberg Long U.S. Treasury Index. Their fees differ too: 0.06% for SPTI and 0.03% for SPTL.
SPTI currently has the higher Sharpe Ratio (0.40 vs -0.16), 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.
Find the right allocation for SPTI and SPTL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer