SPTL vs. VTG

Last updated Jul 14, 2026

SPTL (SPDR Portfolio Long Term Treasury ETF) and VTG (Vanguard Total Treasury ETF) are both Government Bonds funds - SPTL tracks the Bloomberg Long U.S. Treasury Index while VTG tracks the Bloomberg U.S. Treasury Total Return Unhedged USD Index. Both are passively managed. Over the past year, SPTL returned 2.92% vs 2.81% for VTG. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.03% expense ratio.

Performance

SPTL vs. VTG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Long Term Treasury ETF (SPTL) and Vanguard Total Treasury ETF (VTG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPTL achieves a -1.43% return, which is significantly lower than VTG's -0.43% return.

SPTL

• 1D: -0.51%
• 1M: -1.43%
• 6M: -1.84%
• YTD: -1.43%
• 1Y: 2.92%
• 3Y*: -0.90%
• 5Y*: -6.41%
• 10Y*: -1.62%

VTG

• 1D: -0.28%
• 1M: -0.53%
• 6M: -0.49%
• YTD: -0.43%
• 1Y: 2.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPTL vs. VTG - Yearly Performance Comparison

	2026 (YTD)	2025
SPTL SPDR Portfolio Long Term Treasury ETF	-1.43%	4.17%
VTG Vanguard Total Treasury ETF	-0.43%	3.07%

Correlation

The correlation between SPTL and VTG is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.94

The correlation between SPTL and VTG has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.

Return for Risk

SPTL vs. VTG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPTL

SPTL Risk / Return Rank: 15
SPTL Sharpe Ratio Rank: 15
SPTL Sortino Ratio Rank: 14
SPTL Omega Ratio Rank: 13
SPTL Calmar Ratio Rank: 15
SPTL Martin Ratio Rank: 15

VTG

VTG Risk / Return Rank: 26
VTG Sharpe Ratio Rank: 28
VTG Sortino Ratio Rank: 26
VTG Omega Ratio Rank: 24
VTG Calmar Ratio Rank: 25
VTG Martin Ratio Rank: 24

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPTL vs. VTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Treasury ETF (SPTL) and Vanguard Total Treasury ETF (VTG). 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	VTG	Difference
Sharpe ratio: Return per unit of total volatility	0.34	0.80	-0.46
Sortino ratio: Return per unit of downside risk	0.55	1.20	-0.65
Omega ratio: Gain probability vs. loss probability	1.06	1.14	-0.08
Calmar ratio: Return relative to maximum drawdown	0.42	0.98	-0.56
Martin ratio: Return relative to average drawdown	1.00	2.56	-1.55

SPTL vs. VTG - Sharpe Ratio Comparison

The current SPTL Sharpe Ratio is 0.34, which is lower than the VTG Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of SPTL and VTG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPTL vs. VTG - Drawdown Comparison

The maximum SPTL drawdown since its inception was -46.20%, which is greater than VTG's maximum drawdown of -2.89%. Use the drawdown chart below to compare losses from any high point for SPTL and VTG.

Drawdown Indicators

	SPTL	VTG	Difference
Max Drawdown Largest peak-to-trough decline	-46.20%	-2.89%	-43.31%
Max Drawdown (1Y) Largest decline over 1 year	-7.04%	-2.89%	-4.15%
Max Drawdown (3Y) Largest decline over 3 years	-17.35%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-41.02%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.20%	—	—
Current Drawdown Current decline from peak	-37.53%	-2.21%	-35.32%
Average Drawdown Average peak-to-trough decline	-14.36%	-0.83%	-13.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	1.10%	+1.81%

Volatility

SPTL vs. VTG - Volatility Comparison

SPDR Portfolio Long Term Treasury ETF (SPTL) has a higher volatility of 2.74% compared to Vanguard Total Treasury ETF (VTG) at 1.13%. This indicates that SPTL's price experiences larger fluctuations and is considered to be riskier than VTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPTL	VTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.74%	1.13%	+1.61%
Volatility (6M) Calculated over the trailing 6-month period	6.35%	2.64%	+3.71%
Volatility (1Y) Calculated over the trailing 1-year period	8.57%	3.53%	+5.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.56%	3.53%	+11.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.89%	3.53%	+10.36%

SPTL vs. VTG - Expense Ratio Comparison

Both SPTL and VTG have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SPTL vs. VTG - Dividend Comparison

SPTL's dividend yield for the trailing twelve months is around 4.27%, more than VTG's 3.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VTG Vanguard Total Treasury ETF	3.55%	1.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPTL and VTG in my portfolio?

With a correlation of 0.94, SPTL and VTG 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.

Which is riskier, SPTL or VTG?

SPTL has higher volatility (2.74%) compared to VTG (1.13%). In terms of maximum drawdown, SPTL dropped -46.20% vs VTG's -2.89%.

Which ETF is better, SPTL or VTG?

On 1-year performance, SPTL leads with 2.92% vs 2.81% for VTG. Both ETFs have the same 0.03% expense ratio. On volatility, VTG has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPTL or VTG?

Over the 1-year period, SPTL has performed better with a 2.92% return vs 2.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPTL or VTG?

SPTL and VTG have the same expense ratio: 0.03% per year.

Which ETF pays a higher dividend yield, SPTL or VTG?

SPTL has the higher dividend yield at 4.27%, compared with 3.55% for VTG.

What is the main difference between SPTL and VTG?

SPTL tracks Bloomberg Long U.S. Treasury Index, while VTG tracks Bloomberg U.S. Treasury Total Return Unhedged USD Index. They also come from different issuers: State Street and Vanguard.

Which has better risk-adjusted returns?

VTG currently has the higher Sharpe Ratio (0.80 vs 0.34), 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.