SPTL vs. XLV

Last updated Aug 2, 2026

SPTL (SPDR Portfolio Long Term Treasury ETF) and XLV (State Street Health Care Select Sector SPDR ETF) are both exchange-traded funds - SPTL is a Government Bonds fund tracking the Bloomberg Long U.S. Treasury Index, while XLV is a Health & Biotech Equities fund tracking the Health Care Select Sector Index. Both are passively managed. Over the past 10 years, SPTL returned -1.81%/yr vs 9.81%/yr for XLV. Their -0.17 correlation means they have often moved in opposite directions in the past. SPTL charges 0.03%/yr vs 0.08%/yr for XLV.

Performance

SPTL vs. XLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Long Term Treasury ETF (SPTL) and State Street Health Care Select Sector SPDR ETF (XLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPTL achieves a -3.28% return, which is significantly lower than XLV's 5.90% return. Over the past 10 years, SPTL has underperformed XLV with an annualized return of -1.81%, while XLV has yielded a comparatively higher 9.81% 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%

XLV

• 1D: -0.59%
• 1M: -0.73%
• 6M: 5.94%
• YTD: 5.90%
• 1Y: 26.13%
• 3Y*: 8.60%
• 5Y*: 5.93%
• 10Y*: 9.81%
• ALL TIME*: 8.63%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SPTL SPDR Portfolio Long Term Treasury ETF	$141.08M	$126.11M	$146.73M
XLV State Street Health Care Select Sector SPDR ETF	$1.43B	$1.62B	$1.62B

SPTL vs. XLV - 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%
XLV State Street Health Care Select Sector SPDR ETF	5.90%	14.50%	2.47%	2.07%	-2.08%	26.04%	13.30%	20.45%	6.28%	21.77%

Correlation

The correlation between SPTL and XLV is 0.24, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.24
Correlation (3Y) Balances recent behavior with more history.	0.23
Correlation (5Y) Shows whether the relationship held over a longer period.	0.15
Correlation (10Y) Provides a long-term view across more market conditions.	-0.01
Correlation (All Time) Calculated using the full available price history since May 30, 2007	-0.17

The correlation between SPTL and XLV shifts across timeframes, from -0.17 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SPTL vs. XLV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPTL

SPTL Risk / Return Rank: 10
SPTL Sharpe Ratio Rank: 10
SPTL Sortino Ratio Rank: 9
SPTL Omega Ratio Rank: 9
SPTL Calmar Ratio Rank: 10
SPTL Martin Ratio Rank: 10

XLV

XLV Risk / Return Rank: 72
XLV Sharpe Ratio Rank: 76
XLV Sortino Ratio Rank: 83
XLV Omega Ratio Rank: 72
XLV Calmar Ratio Rank: 74
XLV Martin Ratio Rank: 53

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPTL vs. XLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Treasury ETF (SPTL) and State Street Health Care Select Sector SPDR ETF (XLV). 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	XLV	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	1.72	-1.77
Sortino ratio: Return per unit of downside risk	-0.01	2.70	-2.72
Omega ratio: Gain probability vs. loss probability	1.00	1.30	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.06	2.57	-2.63
Martin ratio: Return relative to average drawdown	-0.14	6.15	-6.29

SPTL vs. XLV - Sharpe Ratio Comparison

The current SPTL Sharpe Ratio is -0.05, which is lower than the XLV Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of SPTL and XLV, 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. XLV - Drawdown Comparison

The maximum SPTL drawdown since its inception was -46.20%, which is greater than XLV's maximum drawdown of -39.17%. Use the drawdown chart below to compare losses from any high point for SPTL and XLV.

Drawdown Indicators

	SPTL	XLV	Difference
Max Drawdown Largest peak-to-trough decline	-46.20%	-39.17%	-7.03%
Max Drawdown (1Y) Largest decline over 1 year	-7.09%	-10.47%	+3.38%
Max Drawdown (3Y) Largest decline over 3 years	-13.39%	-17.11%	+3.72%
Max Drawdown (5Y) Largest decline over 5 years	-41.02%	-17.11%	-23.91%
Max Drawdown (10Y) Largest decline over 10 years	-46.20%	-28.40%	-17.80%
Current Drawdown Current decline from peak	-38.71%	-2.82%	-35.89%
Average Drawdown Average peak-to-trough decline	-14.43%	-7.09%	-7.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	4.37%	-1.16%

Volatility

SPTL vs. XLV - Volatility Comparison

The current volatility for SPDR Portfolio Long Term Treasury ETF (SPTL) is 2.26%, while State Street Health Care Select Sector SPDR ETF (XLV) has a volatility of 6.03%. This indicates that SPTL experiences smaller price fluctuations and is considered to be less risky than XLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPTL	XLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.26%	6.03%	-3.77%
Volatility (6M) Calculated over the trailing 6-month period	6.39%	12.07%	-5.68%
Volatility (1Y) Calculated over the trailing 1-year period	8.51%	15.90%	-7.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.50%	15.04%	-0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.88%	16.66%	-2.78%

SPTL vs. XLV - Expense Ratio Comparison

SPTL has a 0.03% expense ratio, which is lower than XLV's 0.08% 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. XLV - Dividend Comparison

SPTL's dividend yield for the trailing twelve months is around 4.35%, more than XLV's 1.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XLV State Street Health Care Select Sector SPDR ETF	1.56%	1.60%	1.67%	1.59%	1.47%	1.33%	1.49%	2.17%	1.57%	1.47%	1.60%	1.43%

Frequently Asked Questions

Can I hold both SPTL and XLV in my portfolio?

SPTL and XLV have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPTL or XLV?

XLV has higher volatility (6.03%) compared to SPTL (2.26%). In terms of maximum drawdown, SPTL dropped -46.20% vs XLV's -39.17%.

Which ETF is better, SPTL or XLV?

On 10-year performance, XLV leads with 9.81% vs -1.81% for SPTL. On fees, SPTL is cheaper at 0.03% per year. On volatility, SPTL has been the lower-risk option at 2.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPTL or XLV?

Over the 10-year period, XLV has performed better with a 9.81% return vs -1.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPTL or XLV?

SPTL is cheaper with a 0.03% expense ratio, compared with 0.08% for XLV.

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

SPTL has the higher dividend yield at 3.99%, compared with 1.56% for XLV.

What is the main difference between SPTL and XLV?

SPTL is categorized as Government Bonds, while XLV is Health & Biotech Equities. SPTL tracks Bloomberg Long U.S. Treasury Index, while XLV tracks Health Care Select Sector Index. Their fees differ too: 0.03% for SPTL and 0.08% for XLV.

Which has better risk-adjusted returns?

XLV currently has the higher Sharpe Ratio (1.72 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.