SPTL vs. GOVI
SPTL (SPDR Portfolio Long Term Treasury ETF) and GOVI (Invesco Equal Weight 0-30 Year Treasury ETF) are both Government Bonds funds - SPTL tracks the Bloomberg Long U.S. Treasury Index while GOVI tracks the ICE 1-30 Year Laddered Maturity U.S. Treasury Index. Both are passively managed. Over the past 10 years, SPTL returned -1.81%/yr vs -0.51%/yr for GOVI. Their correlation of 0.95 means they have usually moved in the same direction. SPTL charges 0.03%/yr vs 0.15%/yr for GOVI.
Performance
SPTL vs. GOVI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPTL achieves a -3.28% return, which is significantly lower than GOVI's -2.29% return. Over the past 10 years, SPTL has underperformed GOVI with an annualized return of -1.81%, while GOVI has yielded a comparatively higher -0.51% annualized return.
SPTL
- 1D
- -0.67%
- 1M
- -3.50%
- 6M
- -3.17%
- YTD
- -3.28%
- 1Y
- -1.73%
- 3Y*
- -0.59%
- 5Y*
- -7.09%
- 10Y*
- -1.81%
- ALL TIME*
- 3.09%
GOVI
- 1D
- -0.45%
- 1M
- -2.40%
- 6M
- -2.30%
- YTD
- -2.29%
- 1Y
- -0.55%
- 3Y*
- 1.08%
- 5Y*
- -3.88%
- 10Y*
- -0.51%
- ALL TIME*
- 2.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.66M | $4.82M | $7.27M | |
| $141.08M | $126.11M | $146.73M |
SPTL vs. GOVI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPTL SPDR Portfolio Long Term Treasury ETF | -3.28% | 5.28% | -6.23% | 3.30% | -29.44% | -4.99% | 18.07% | 13.74% | -1.57% | 9.01% |
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | -2.29% | 5.84% | -2.95% | 3.31% | -19.98% | -3.76% | 12.55% | 10.00% | -0.28% | 4.96% |
Correlation
The correlation between SPTL and GOVI is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (3Y) Balances recent behavior with more history. | 0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2007 | 0.95 |
The correlation between SPTL and GOVI has been stable across timeframes, ranging from 0.95 to 0.99 - 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
SPTL vs. GOVI — Risk / Return Rank
SPTL
GOVI
SPTL vs. GOVI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Treasury ETF (SPTL) and Invesco Equal Weight 0-30 Year Treasury ETF (GOVI). 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 | GOVI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.02 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | 0.11 | -0.18 |
| Martin ratioReturn relative to average drawdown | -0.14 | 0.26 | -0.40 |
Loading charts...
Drawdowns
SPTL vs. GOVI - Drawdown Comparison
The maximum SPTL drawdown since its inception was -46.20%, which is greater than GOVI's maximum drawdown of -32.70%. Use the drawdown chart below to compare losses from any high point for SPTL and GOVI.
Loading charts...
Drawdown Indicators
| SPTL | GOVI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.20% | -32.70% | -13.50% |
Max Drawdown (1Y)Largest decline over 1 year | -7.09% | -5.45% | -1.64% |
Max Drawdown (3Y)Largest decline over 3 years | -13.39% | -9.49% | -3.90% |
Max Drawdown (5Y)Largest decline over 5 years | -41.02% | -28.30% | -12.72% |
Max Drawdown (10Y)Largest decline over 10 years | -46.20% | -32.70% | -13.50% |
Current DrawdownCurrent decline from peak | -38.71% | -23.74% | -14.97% |
Average DrawdownAverage peak-to-trough decline | -14.43% | -9.75% | -4.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 2.37% | +0.84% |
Volatility
SPTL vs. GOVI - Volatility Comparison
SPDR Portfolio Long Term Treasury ETF (SPTL) has a higher volatility of 2.26% compared to Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) at 1.63%. This indicates that SPTL's price experiences larger fluctuations and is considered to be riskier than GOVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPTL | GOVI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.26% | 1.63% | +0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 6.39% | 4.85% | +1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.51% | 6.32% | +2.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.50% | 9.81% | +4.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.88% | 9.07% | +4.81% |
SPTL vs. GOVI - Expense Ratio Comparison
SPTL has a 0.03% expense ratio, which is lower than GOVI's 0.15% 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
SPTL vs. GOVI - Dividend Comparison
SPTL's dividend yield for the trailing twelve months is around 4.35%, more than GOVI's 3.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | 3.95% | 3.75% | 3.56% | 2.87% | 1.97% | 1.15% | 1.00% | 1.96% | 2.14% | 2.02% | 2.00% | 2.14% |
SPTL SPDR Portfolio Long Term Treasury ETF | 3.99% | 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
With a correlation of 0.99, SPTL and GOVI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SPTL has higher volatility (2.26%) compared to GOVI (1.63%). In terms of maximum drawdown, SPTL dropped -46.20% vs GOVI's -32.70%.
On 10-year performance, GOVI leads with -0.51% vs -1.81% for SPTL. On fees, SPTL is cheaper at 0.03% per year. On volatility, GOVI has been the lower-risk option at 1.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GOVI has performed better with a -0.51% return vs -1.81%. 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 0.15% for GOVI.
SPTL has the higher dividend yield at 3.99%, compared with 3.95% for GOVI.
SPTL tracks Bloomberg Long U.S. Treasury Index, while GOVI tracks ICE 1-30 Year Laddered Maturity U.S. Treasury Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.03% for SPTL and 0.15% for GOVI.
GOVI currently has the higher Sharpe Ratio (0.10 vs -0.05), 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 SPTL and GOVI
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