SPTL vs. AM
SPTL (SPDR Portfolio Long Term Treasury ETF) is Government Bonds fund tracking the Bloomberg Long U.S. Treasury Index, while AM (Antero Midstream Corporation) is a stock. Over the past 10 years, SPTL returned -1.64%/yr vs 7.26%/yr for AM. At a correlation of -0.11, they often move in opposite directions.
Performance
SPTL vs. AM - Performance Comparison
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Returns By Period
In the year-to-date period, SPTL achieves a -1.43% return, which is significantly lower than AM's 29.92% return. Over the past 10 years, SPTL has underperformed AM with an annualized return of -1.64%, while AM has yielded a comparatively higher 7.26% annualized return.
SPTL
- 1D
- -0.66%
- 1M
- -2.48%
- 6M
- -1.91%
- YTD
- -1.43%
- 1Y
- 3.36%
- 3Y*
- -0.99%
- 5Y*
- -6.57%
- 10Y*
- -1.64%
- ALL TIME*
- 3.19%
AM
- 1D
- 0.04%
- 1M
- 4.10%
- 6M
- 26.37%
- YTD
- 29.92%
- 1Y
- 31.88%
- 3Y*
- 31.57%
- 5Y*
- 26.19%
- 10Y*
- 7.26%
- ALL TIME*
- 5.40%
SPTL vs. AM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPTL SPDR Portfolio Long Term Treasury ETF | -1.43% | 5.28% | -6.23% | 3.30% | -29.44% | -4.99% | 18.07% | 13.74% | -1.57% | 9.01% |
AM Antero Midstream Corporation | 29.92% | 24.37% | 28.46% | 25.73% | 21.98% | 39.55% | 27.59% | -60.29% | -22.28% | -2.32% |
Correlation
The correlation between SPTL and AM is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2014 | -0.11 |
The correlation between SPTL and AM shifts across timeframes, from -0.11 (all time) to 0.04 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPTL vs. AM — Risk / Return Rank
SPTL
AM
SPTL vs. AM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Treasury ETF (SPTL) and Antero Midstream Corporation (AM). 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.
| SPTL | AM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.15 | ||
| Sortino ratioReturn per unit of downside risk | -1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.27 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | 2.53 | -2.05 |
| Martin ratioReturn relative to average drawdown | 1.12 | 5.37 | -4.25 |
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Drawdowns
SPTL vs. AM - Drawdown Comparison
The maximum SPTL drawdown since its inception was -46.20%, smaller than the maximum AM drawdown of -93.01%. Use the drawdown chart below to compare losses from any high point for SPTL and AM.
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Drawdown Indicators
| SPTL | AM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.20% | -93.01% | +46.81% |
Max Drawdown (1Y)Largest decline over 1 year | -7.04% | -12.67% | +5.63% |
Max Drawdown (3Y)Largest decline over 3 years | -16.40% | -13.98% | -2.42% |
Max Drawdown (5Y)Largest decline over 5 years | -41.02% | -21.91% | -19.11% |
Max Drawdown (10Y)Largest decline over 10 years | -46.20% | -93.01% | +46.81% |
Current DrawdownCurrent decline from peak | -37.53% | -3.24% | -34.29% |
Average DrawdownAverage peak-to-trough decline | -14.38% | -31.65% | +17.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 6.00% | -3.01% |
Volatility
SPTL vs. AM - Volatility Comparison
The current volatility for SPDR Portfolio Long Term Treasury ETF (SPTL) is 2.44%, while Antero Midstream Corporation (AM) has a volatility of 6.64%. This indicates that SPTL experiences smaller price fluctuations and is considered to be less risky than AM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPTL | AM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.44% | 6.64% | -4.20% |
Volatility (6M)Calculated over the trailing 6-month period | 6.35% | 14.71% | -8.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.57% | 20.78% | -12.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.51% | 26.26% | -11.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.89% | 41.89% | -28.00% |
Dividends
SPTL vs. AM - Dividend Comparison
SPTL's dividend yield for the trailing twelve months is around 4.27%, more than AM's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AM Antero Midstream Corporation | 3.98% | 5.06% | 5.96% | 7.18% | 8.34% | 10.15% | 15.95% | 18.28% | 7.53% | 4.27% | 3.14% | 2.93% |
SPTL SPDR Portfolio Long Term Treasury ETF | 4.27% | 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
SPTL and AM have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AM has higher volatility (6.64%) compared to SPTL (2.44%). In terms of maximum drawdown, SPTL dropped -46.20% vs AM's -93.01%.
AM currently has the higher Sharpe Ratio (1.54 vs 0.39), 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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