SPTI vs. SPTS
SPTI (SPDR Portfolio Intermediate Term Treasury ETF) and SPTS (SPDR Portfolio Short Term Treasury ETF) are both Government Bonds funds from State Street - SPTI tracks the Bloomberg 3-10 Year U.S. Treasury Bond Index while SPTS tracks the Bloomberg 1-3 Year U.S. Treasury Index. Both are passively managed. Over the past 10 years, SPTI returned 1.22%/yr vs 1.64%/yr for SPTS. Their 0.68 correlation means they have sometimes moved together and sometimes differently. SPTI charges 0.06%/yr vs 0.03%/yr for SPTS.
Performance
SPTI vs. SPTS - Performance Comparison
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Returns By Period
In the year-to-date period, SPTI achieves a -0.76% return, which is significantly lower than SPTS's 0.75% return. Over the past 10 years, SPTI has underperformed SPTS with an annualized return of 1.22%, while SPTS has yielded a comparatively higher 1.64% annualized return.
SPTI
- 1D
- -0.21%
- 1M
- -0.74%
- 6M
- -0.73%
- YTD
- -0.76%
- 1Y
- 1.13%
- 3Y*
- 3.75%
- 5Y*
- -0.25%
- 10Y*
- 1.22%
- ALL TIME*
- 2.46%
SPTS
- 1D
- -0.07%
- 1M
- 0.00%
- 6M
- 0.58%
- YTD
- 0.75%
- 1Y
- 2.62%
- 3Y*
- 4.34%
- 5Y*
- 1.87%
- 10Y*
- 1.64%
- ALL TIME*
- 1.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $52.12M | $54.09M | $69.54M | |
| $23.39M | $28.59M | $39.91M |
SPTI vs. SPTS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPTI SPDR Portfolio Intermediate Term Treasury ETF | -0.76% | 7.46% | 1.32% | 4.24% | -10.65% | -2.55% | 7.70% | 6.01% | 2.27% | 1.04% |
SPTS SPDR Portfolio Short Term Treasury ETF | 0.75% | 5.05% | 4.20% | 4.27% | -3.86% | -0.72% | 3.23% | 3.56% | 1.08% | 0.59% |
Correlation
The correlation between SPTI and SPTS is 0.87, 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. | 0.87 |
Correlation (3Y) Balances recent behavior with more history. | 0.85 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2011 | 0.68 |
The correlation between SPTI and SPTS shifts across timeframes, from 0.68 (all time) to 0.87 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPTI vs. SPTS — Risk / Return Rank
SPTI
SPTS
SPTI vs. SPTS - 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 Short Term Treasury ETF (SPTS). 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 | SPTS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.87 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.48 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 3.76 | -3.00 |
| Martin ratioReturn relative to average drawdown | 1.74 | 14.64 | -12.90 |
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Drawdowns
SPTI vs. SPTS - Drawdown Comparison
The maximum SPTI drawdown since its inception was -16.12%, which is greater than SPTS's maximum drawdown of -5.83%. Use the drawdown chart below to compare losses from any high point for SPTI and SPTS.
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Drawdown Indicators
| SPTI | SPTS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.12% | -5.83% | -10.29% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -0.84% | -1.96% |
Max Drawdown (3Y)Largest decline over 3 years | -4.35% | -0.96% | -3.39% |
Max Drawdown (5Y)Largest decline over 5 years | -15.06% | -5.71% | -9.35% |
Max Drawdown (10Y)Largest decline over 10 years | -16.12% | -5.71% | -10.41% |
Current DrawdownCurrent decline from peak | -2.73% | -0.07% | -2.66% |
Average DrawdownAverage peak-to-trough decline | -2.92% | -1.70% | -1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 0.21% | +1.00% |
Volatility
SPTI vs. SPTS - Volatility Comparison
SPDR Portfolio Intermediate Term Treasury ETF (SPTI) has a higher volatility of 0.89% compared to SPDR Portfolio Short Term Treasury ETF (SPTS) at 0.41%. This indicates that SPTI's price experiences larger fluctuations and is considered to be riskier than SPTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPTI | SPTS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 0.41% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 2.61% | 1.00% | +1.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.38% | 1.34% | +2.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.36% | 2.00% | +3.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.38% | 1.70% | +2.68% |
SPTI vs. SPTS - Expense Ratio Comparison
SPTI has a 0.06% expense ratio, which is higher than SPTS'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. SPTS - Dividend Comparison
SPTI's dividend yield for the trailing twelve months is around 3.89%, which matches SPTS's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPTI SPDR Portfolio Intermediate Term Treasury ETF | 3.56% | 3.79% | 3.77% | 2.99% | 1.45% | 0.53% | 0.75% | 2.02% | 1.97% | 1.46% | 1.23% | 1.18% |
SPTS SPDR Portfolio Short Term Treasury ETF | 3.54% | 3.99% | 4.25% | 3.61% | 1.27% | 0.19% | 0.70% | 2.21% | 2.04% | 1.20% | 0.95% | 0.83% |
Frequently Asked Questions
SPTI and SPTS have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPTI has higher volatility (0.89%) compared to SPTS (0.41%). In terms of maximum drawdown, SPTI dropped -16.12% vs SPTS's -5.83%.
On 10-year performance, SPTS leads with 1.64% vs 1.22% for SPTI. On fees, SPTS is cheaper at 0.03% per year. On volatility, SPTS has been the lower-risk option at 0.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPTS has performed better with a 1.64% return vs 1.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTS is cheaper with a 0.03% expense ratio, compared with 0.06% for SPTI.
SPTI has the higher dividend yield at 3.56%, compared with 3.54% for SPTS.
SPTI tracks Bloomberg 3-10 Year U.S. Treasury Bond Index, while SPTS tracks Bloomberg 1-3 Year U.S. Treasury Index. Their fees differ too: 0.06% for SPTI and 0.03% for SPTS.
SPTS currently has the higher Sharpe Ratio (2.35 vs 0.62), 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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