SPTL vs. TLTI
Compare and contrast key facts about SPDR Portfolio Long Term Treasury ETF (SPTL) and NEOS Enhanced Income 20+ Year Treasury Bond ETF (TLTI).
SPTL and TLTI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPTL is a passively managed fund by State Street that tracks the performance of the Bloomberg Long U.S. Treasury Index. It was launched on May 23, 2007. TLTI is an actively managed fund by NEOS Investments. It was launched on Dec 11, 2024.
Performance
SPTL vs. TLTI - Performance Comparison
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SPTL vs. TLTI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPTL SPDR Portfolio Long Term Treasury ETF | -0.13% | 5.28% | -4.23% |
TLTI NEOS Enhanced Income 20+ Year Treasury Bond ETF | 0.62% | 4.31% | -4.61% |
Returns By Period
In the year-to-date period, SPTL achieves a -0.13% return, which is significantly lower than TLTI's 0.62% return.
SPTL
- 1D
- -0.14%
- 1M
- -3.16%
- YTD
- -0.13%
- 6M
- -0.79%
- 1Y
- -0.34%
- 3Y*
- -1.60%
- 5Y*
- -4.91%
- 10Y*
- -0.88%
TLTI
- 1D
- -0.34%
- 1M
- -2.88%
- YTD
- 0.62%
- 6M
- -0.24%
- 1Y
- 0.05%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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SPTL vs. TLTI - Expense Ratio Comparison
SPTL has a 0.03% expense ratio, which is lower than TLTI's 0.58% expense ratio.
Return for Risk
SPTL vs. TLTI — Risk / Return Rank
SPTL
TLTI
SPTL vs. TLTI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Treasury ETF (SPTL) and NEOS Enhanced Income 20+ Year Treasury Bond ETF (TLTI). 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.
| SPTL | TLTI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.03 | 0.00 | -0.04 |
Sortino ratioReturn per unit of downside risk | 0.02 | 0.08 | -0.06 |
Omega ratioGain probability vs. loss probability | 1.00 | 1.01 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.04 | 0.12 | -0.07 |
Martin ratioReturn relative to average drawdown | 0.10 | 0.25 | -0.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPTL | TLTI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.03 | 0.00 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.06 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.01 | +0.23 |
Correlation
The correlation between SPTL and TLTI is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SPTL vs. TLTI - Dividend Comparison
SPTL's dividend yield for the trailing twelve months is around 4.17%, less than TLTI's 6.28% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPTL SPDR Portfolio Long Term Treasury ETF | 4.17% | 4.12% | 4.03% | 3.24% | 2.75% | 1.68% | 1.71% | 2.45% | 2.69% | 2.53% | 2.56% | 2.60% |
TLTI NEOS Enhanced Income 20+ Year Treasury Bond ETF | 6.28% | 6.33% | 0.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPTL vs. TLTI - Drawdown Comparison
The maximum SPTL drawdown since its inception was -46.20%, which is greater than TLTI's maximum drawdown of -8.70%. Use the drawdown chart below to compare losses from any high point for SPTL and TLTI.
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Drawdown Indicators
| SPTL | TLTI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.20% | -8.70% | -37.50% |
Max Drawdown (1Y)Largest decline over 1 year | -8.44% | -8.70% | +0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -41.02% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.20% | — | — |
Current DrawdownCurrent decline from peak | -36.71% | -3.90% | -32.81% |
Average DrawdownAverage peak-to-trough decline | -14.04% | -3.45% | -10.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.85% | 4.04% | -0.19% |
Volatility
SPTL vs. TLTI - Volatility Comparison
The current volatility for SPDR Portfolio Long Term Treasury ETF (SPTL) is 3.50%, while NEOS Enhanced Income 20+ Year Treasury Bond ETF (TLTI) has a volatility of 3.76%. This indicates that SPTL experiences smaller price fluctuations and is considered to be less risky than TLTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPTL | TLTI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.50% | 3.76% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 6.01% | 6.43% | -0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.30% | 11.32% | -1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.64% | 11.50% | +3.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.98% | 11.50% | +2.48% |