SPTL vs. NAD
SPTL (SPDR Portfolio Long Term Treasury ETF) is Government Bonds fund tracking the Bloomberg Long U.S. Treasury Index, while NAD (Nuveen Quality Municipal Income Fund) is a stock. Over the past 10 years, SPTL returned -1.24%/yr vs 2.83%/yr for NAD. At a 0.24 correlation, their price movements are largely independent.
Performance
SPTL vs. NAD - Performance Comparison
Loading charts...
Returns By Period
Over the past 10 years, SPTL has underperformed NAD with an annualized return of -1.24%, while NAD has yielded a comparatively higher 2.83% 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%
NAD
- 1D
- -0.42%
- 1M
- 2.66%
- YTD
- 2.38%
- 6M
- 2.47%
- 1Y
- 13.72%
- 3Y*
- 9.46%
- 5Y*
- 0.16%
- 10Y*
- 2.83%
SPTL vs. NAD - 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% |
NAD Nuveen Quality Municipal Income Fund | 2.38% | 11.29% | 8.74% | 1.26% | -22.85% | 9.70% | 10.33% | 21.92% | -6.10% | 6.37% |
Correlation
The correlation between SPTL and NAD 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 | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since May 30, 2007 | 0.24 |
The correlation between SPTL and NAD shifts across timeframes, from 0.24 (all time) to 0.54 (3 years), reflecting how their relationship changes across market environments.
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. NAD — Risk / Return Rank
SPTL
NAD
SPTL vs. NAD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Treasury ETF (SPTL) and Nuveen Quality Municipal Income Fund (NAD). 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 | NAD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.25 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 1.68 | -1.21 |
| Martin ratioReturn relative to average drawdown | 1.17 | 6.58 | -5.41 |
Loading charts...
Drawdowns
SPTL vs. NAD - Drawdown Comparison
The maximum SPTL drawdown since its inception was -46.20%, roughly equal to the maximum NAD drawdown of -44.65%. Use the drawdown chart below to compare losses from any high point for SPTL and NAD.
Loading charts...
Drawdown Indicators
| SPTL | NAD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.20% | -44.65% | -1.55% |
Max Drawdown (1Y)Largest decline over 1 year | -7.04% | -8.08% | +1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -17.55% | -14.69% | -2.86% |
Max Drawdown (5Y)Largest decline over 5 years | -41.02% | -35.58% | -5.44% |
Max Drawdown (10Y)Largest decline over 10 years | -46.20% | -35.58% | -10.62% |
Current DrawdownCurrent decline from peak | -36.63% | -3.72% | -32.91% |
Average DrawdownAverage peak-to-trough decline | -14.27% | -7.82% | -6.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 2.06% | +0.73% |
Volatility
SPTL vs. NAD - Volatility Comparison
The current volatility for SPDR Portfolio Long Term Treasury ETF (SPTL) is 2.73%, while Nuveen Quality Municipal Income Fund (NAD) has a volatility of 3.60%. This indicates that SPTL experiences smaller price fluctuations and is considered to be less risky than NAD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPTL | NAD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 3.60% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 6.12% | 9.36% | -3.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.83% | 10.98% | -2.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.61% | 11.63% | +2.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.95% | 11.93% | +2.02% |
Dividends
SPTL vs. NAD - Dividend Comparison
SPTL's dividend yield for the trailing twelve months is around 4.20%, less than NAD's 7.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NAD Nuveen Quality Municipal Income Fund | 6.57% | 7.37% | 6.63% | 4.13% | 5.58% | 4.43% | 4.41% | 4.40% | 5.37% | 5.42% | 6.05% | 5.96% |
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 NAD 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.
NAD has higher volatility (3.60%) compared to SPTL (2.73%). In terms of maximum drawdown, SPTL dropped -46.20% vs NAD's -44.65%.
NAD currently has the higher Sharpe Ratio (1.23 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.
Find the right allocation for SPTL and NAD
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