SPTI vs. VNQ

Last updated Jun 4, 2026

SPTI (SPDR Portfolio Intermediate Term Treasury ETF) and VNQ (Vanguard Real Estate ETF) are both exchange-traded funds - SPTI is a Government Bonds fund tracking the Bloomberg 3-10 Year U.S. Treasury Bond Index, while VNQ is a REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index. Both are passively managed. Over the past 10 years, SPTI returned 1.33%/yr vs 5.21%/yr for VNQ. At a correlation of -0.04, they often move in opposite directions. SPTI charges 0.06%/yr vs 0.13%/yr for VNQ.

Performance

SPTI vs. VNQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Intermediate Term Treasury ETF (SPTI) and Vanguard Real Estate ETF (VNQ). 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 VNQ's 7.83% return. Over the past 10 years, SPTI has underperformed VNQ with an annualized return of 1.33%, while VNQ has yielded a comparatively higher 5.21% 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%

VNQ

• 1D: -0.12%
• 1M: -1.10%
• YTD: 7.83%
• 6M: 6.75%
• 1Y: 9.97%
• 3Y*: 9.15%
• 5Y*: 2.18%
• 10Y*: 5.21%

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

SPTI vs. VNQ - 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%
VNQ Vanguard Real Estate ETF	7.83%	3.24%	4.81%	11.85%	-26.25%	40.54%	-4.61%	28.91%	-6.03%	4.90%

Correlation

The correlation between SPTI and VNQ is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since May 31, 2007	-0.04

The correlation between SPTI and VNQ shifts across timeframes, from -0.04 (all time) to 0.37 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SPTI vs. VNQ — 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

VNQ

VNQ Risk / Return Rank: 23
VNQ Sharpe Ratio Rank: 22
VNQ Sortino Ratio Rank: 21
VNQ Omega Ratio Rank: 20
VNQ Calmar Ratio Rank: 25
VNQ Martin Ratio Rank: 27

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. VNQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Intermediate Term Treasury ETF (SPTI) and Vanguard Real Estate ETF (VNQ). 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	VNQ	Difference
Sharpe ratio Return per unit of total volatility	1.06	0.76	+0.30
Sortino ratio Return per unit of downside risk	1.61	1.12	+0.50
Omega ratio Gain probability vs. loss probability	1.19	1.14	+0.05
Calmar ratio Return relative to maximum drawdown	1.30	1.20	+0.10
Martin ratio Return relative to average drawdown	3.90	3.78	+0.12
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. VNQ - Sharpe Ratio Comparison

The current SPTI Sharpe Ratio is 1.06, which is higher than the VNQ Sharpe Ratio of 0.76. The chart below compares the historical Sharpe Ratios of SPTI and VNQ, 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	VNQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	0.76	+0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.12	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.25	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.26	+0.28

Drawdowns

SPTI vs. VNQ - Drawdown Comparison

The maximum SPTI drawdown since its inception was -16.12%, smaller than the maximum VNQ drawdown of -73.07%. Use the drawdown chart below to compare losses from any high point for SPTI and VNQ.

Drawdown Indicators

	SPTI	VNQ	Difference
Max Drawdown Largest peak-to-trough decline	-16.12%	-73.07%	+56.95%
Max Drawdown (1Y) Largest decline over 1 year	-2.80%	-8.34%	+5.54%
Max Drawdown (3Y) Largest decline over 3 years	-4.35%	-17.46%	+13.11%
Max Drawdown (5Y) Largest decline over 5 years	-15.06%	-34.48%	+19.42%
Max Drawdown (10Y) Largest decline over 10 years	-16.12%	-42.40%	+26.28%
Current Drawdown Current decline from peak	-2.39%	-3.75%	+1.36%
Average Drawdown Average peak-to-trough decline	-2.92%	-13.63%	+10.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	2.64%	-1.71%

Volatility

SPTI vs. VNQ - Volatility Comparison

The current volatility for SPDR Portfolio Intermediate Term Treasury ETF (SPTI) is 1.05%, while Vanguard Real Estate ETF (VNQ) has a volatility of 3.72%. This indicates that SPTI experiences smaller price fluctuations and is considered to be less risky than VNQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPTI	VNQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	3.72%	-2.67%
Volatility (6M) Calculated over the trailing 6-month period	2.33%	9.26%	-6.93%
Volatility (1Y) Calculated over the trailing 1-year period	3.41%	13.16%	-9.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.35%	18.80%	-13.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.37%	20.70%	-16.33%

SPTI vs. VNQ - Expense Ratio Comparison

SPTI has a 0.06% expense ratio, which is lower than VNQ's 0.13% expense ratio. Despite the difference, 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. VNQ - Dividend Comparison

SPTI's dividend yield for the trailing twelve months is around 3.86%, more than VNQ's 3.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VNQ Vanguard Real Estate ETF	3.69%	3.92%	3.85%	3.95%	3.91%	2.56%	3.93%	3.39%	4.74%	4.23%	4.82%	3.92%

Frequently Asked Questions

Can I hold both SPTI and VNQ in my portfolio?

SPTI and VNQ have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPTI or VNQ?

VNQ has higher volatility (3.72%) compared to SPTI (1.05%). In terms of maximum drawdown, SPTI dropped -16.12% vs VNQ's -73.07%.

Which ETF is better, SPTI or VNQ?

On 10-year performance, VNQ leads with 5.21% vs 1.33% for SPTI. On fees, SPTI is cheaper at 0.06% 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.

Which ETF has performed better, SPTI or VNQ?

Over the 10-year period, VNQ has performed better with a 5.21% return vs 1.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPTI or VNQ?

SPTI is cheaper with a 0.06% expense ratio, compared with 0.13% for VNQ.

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

SPTI has the higher dividend yield at 3.86%, compared with 3.69% for VNQ.

What is the main difference between SPTI and VNQ?

SPTI is categorized as Government Bonds, while VNQ is REIT. SPTI tracks Bloomberg 3-10 Year U.S. Treasury Bond Index, while VNQ tracks MSCI US Investable Market Real Estate 25/50 Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.06% for SPTI and 0.13% for VNQ.

Which has better risk-adjusted returns?

SPTI currently has the higher Sharpe Ratio (1.06 vs 0.76), 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.