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 -1.24%/yr vs 7.23%/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
Over the past 10 years, SPTL has underperformed AM with an annualized return of -1.24%, while AM has yielded a comparatively higher 7.23% annualized return.
SPTL
- 1D
- -0.31%
- 1M
- 2.61%
- YTD
- 0.00%
- 6M
- 0.43%
- 1Y
- 4.20%
- 3Y*
- -0.28%
- 5Y*
- -5.55%
- 10Y*
- -1.24%
AM
- 1D
- 1.45%
- 1M
- -1.41%
- YTD
- 24.57%
- 6M
- 23.32%
- 1Y
- 24.37%
- 3Y*
- 33.49%
- 5Y*
- 23.97%
- 10Y*
- 7.23%
SPTL vs. AM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPTL SPDR Portfolio Long Term Treasury ETF | 0.00% | 5.28% | -6.23% | 3.30% | -29.44% | -4.99% | 18.07% | 13.74% | -1.57% | 9.01% |
AM Antero Midstream Corporation | 24.57% | 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 -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
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 0.05 (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 | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.21 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 1.95 | -1.49 |
| Martin ratioReturn relative to average drawdown | 1.17 | 4.00 | -2.83 |
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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 | -17.55% | -13.98% | -3.57% |
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 | -36.63% | -7.22% | -29.41% |
Average DrawdownAverage peak-to-trough decline | -14.27% | -31.88% | +17.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 6.16% | -3.37% |
Volatility
SPTL vs. AM - Volatility Comparison
The current volatility for SPDR Portfolio Long Term Treasury ETF (SPTL) is 2.73%, while Antero Midstream Corporation (AM) has a volatility of 5.60%. 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 | 2.73% | 5.60% | -2.87% |
Volatility (6M)Calculated over the trailing 6-month period | 6.12% | 14.22% | -8.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.83% | 20.77% | -11.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.61% | 26.53% | -11.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.95% | 41.97% | -28.02% |
Dividends
SPTL vs. AM - Dividend Comparison
SPTL's dividend yield for the trailing twelve months is around 4.20%, more than AM's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AM Antero Midstream Corporation | 4.15% | 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 | 4.20% | 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 -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AM has higher volatility (5.60%) compared to SPTL (2.73%). In terms of maximum drawdown, SPTL dropped -46.20% vs AM's -93.01%.
AM currently has the higher Sharpe Ratio (1.19 vs 0.37), 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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