SPTL vs. XHLF
SPTL (SPDR Portfolio Long Term Treasury ETF) and XHLF (BondBloxx Bloomberg Six Month Target Duration US Treasury ETF) are both Government Bonds funds - SPTL tracks the Bloomberg Long U.S. Treasury Index while XHLF tracks the Bloomberg US Treasury 6 Month Duration Index. Both are passively managed. Over the past 3 years, SPTL returned -0.70%/yr vs 4.62%/yr for XHLF. At a 0.20 correlation, their price movements are largely independent. Both charge a 0.03% expense ratio.
Performance
SPTL vs. XHLF - Performance Comparison
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Returns By Period
In the year-to-date period, SPTL achieves a -0.38% return, which is significantly lower than XHLF's 1.39% return.
SPTL
- 1D
- -0.38%
- 1M
- 0.71%
- YTD
- -0.38%
- 6M
- -1.67%
- 1Y
- 5.22%
- 3Y*
- -0.70%
- 5Y*
- -5.32%
- 10Y*
- -1.12%
XHLF
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 1.39%
- 6M
- 1.71%
- 1Y
- 3.92%
- 3Y*
- 4.62%
- 5Y*
- —
- 10Y*
- —
SPTL vs. XHLF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPTL SPDR Portfolio Long Term Treasury ETF | -0.38% | 5.28% | -6.23% | 3.30% | -5.91% |
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | 1.39% | 4.21% | 5.04% | 4.90% | 0.96% |
Correlation
The correlation between SPTL and XHLF is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022 | 0.20 |
The correlation between SPTL and XHLF shifts across timeframes, from -0.03 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPTL vs. XHLF — Risk / Return Rank
SPTL
XHLF
SPTL vs. XHLF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Treasury ETF (SPTL) and BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF). 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 | XHLF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -11.84 | ||
| Sortino ratioReturn per unit of downside risk | -44.94 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 11.75 | -10.65 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | 98.81 | -98.06 |
| Martin ratioReturn relative to average drawdown | 1.94 | 670.31 | -668.37 |
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 | XHLF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.59 | 12.43 | -11.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.37 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.08 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 10.75 | -10.51 |
Drawdowns
SPTL vs. XHLF - Drawdown Comparison
The maximum SPTL drawdown since its inception was -46.20%, which is greater than XHLF's maximum drawdown of -0.11%. Use the drawdown chart below to compare losses from any high point for SPTL and XHLF.
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Drawdown Indicators
| SPTL | XHLF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.20% | -0.11% | -46.09% |
Max Drawdown (1Y)Largest decline over 1 year | -7.04% | -0.04% | -7.00% |
Max Drawdown (3Y)Largest decline over 3 years | -17.55% | -0.06% | -17.49% |
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 | -36.87% | 0.00% | -36.87% |
Average DrawdownAverage peak-to-trough decline | -14.24% | -0.00% | -14.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 0.01% | +2.68% |
Volatility
SPTL vs. XHLF - Volatility Comparison
SPDR Portfolio Long Term Treasury ETF (SPTL) has a higher volatility of 2.63% compared to BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF) at 0.08%. This indicates that SPTL's price experiences larger fluctuations and is considered to be riskier than XHLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPTL | XHLF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.63% | 0.08% | +2.55% |
Volatility (6M)Calculated over the trailing 6-month period | 5.97% | 0.22% | +5.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.92% | 0.32% | +8.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.63% | 0.42% | +14.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.95% | 0.42% | +13.53% |
SPTL vs. XHLF - Expense Ratio Comparison
Both SPTL and XHLF 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. XHLF - Dividend Comparison
SPTL's dividend yield for the trailing twelve months is around 4.21%, more than XHLF's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPTL SPDR Portfolio Long Term Treasury ETF | 4.21% | 4.12% | 4.03% | 3.24% | 2.75% | 1.68% | 1.71% | 2.45% | 2.69% | 2.53% | 2.56% | 2.60% |
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | 3.85% | 3.98% | 4.96% | 4.50% | 0.86% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPTL and XHLF have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPTL has higher volatility (2.63%) compared to XHLF (0.08%). In terms of maximum drawdown, SPTL dropped -46.20% vs XHLF's -0.11%.
On 3-year performance, XHLF leads with 4.62% vs -0.70% for SPTL. Both ETFs have the same 0.03% expense ratio. On volatility, XHLF has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XHLF has performed better with a 4.62% return vs -0.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTL and XHLF have the same expense ratio: 0.03% per year.
SPTL has the higher dividend yield at 4.21%, compared with 3.85% for XHLF.
SPTL tracks Bloomberg Long U.S. Treasury Index, while XHLF tracks Bloomberg US Treasury 6 Month Duration Index. They also come from different issuers: State Street and BondBloxx.
XHLF currently has the higher Sharpe Ratio (12.43 vs 0.59), 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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