SPTL vs. XONE
SPTL (SPDR Portfolio Long Term Treasury ETF) and XONE (BondBloxx Bloomberg One Year Target Duration US Treasury ETF) are both Government Bonds funds - SPTL tracks the Bloomberg Long U.S. Treasury Index while XONE tracks the Bloomberg US Treasury 1 Year Target Duration Index. Both are passively managed. Over the past 3 years, SPTL returned -0.59%/yr vs 4.52%/yr for XONE. Their 0.51 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.03% expense ratio.
Performance
SPTL vs. XONE - Performance Comparison
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Returns By Period
In the year-to-date period, SPTL achieves a -3.28% return, which is significantly lower than XONE's 1.59% 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%
XONE
- 1D
- 0.00%
- 1M
- 0.19%
- 6M
- 1.33%
- YTD
- 1.59%
- 1Y
- 3.44%
- 3Y*
- 4.52%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.17%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $141.08M | $126.11M | $146.73M | |
| $12.44M | $8.11M | $5.72M |
SPTL vs. XONE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPTL SPDR Portfolio Long Term Treasury ETF | -3.28% | 5.28% | -6.23% | 3.30% | -6.10% |
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF | 1.59% | 4.41% | 4.83% | 4.74% | 0.57% |
Correlation
The correlation between SPTL and XONE is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022 | 0.51 |
The correlation between SPTL and XONE has been stable across timeframes, ranging from 0.46 to 0.51 - a consistent structural relationship.
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Return for Risk
SPTL vs. XONE — Risk / Return Rank
SPTL
XONE
SPTL vs. XONE - 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 One Year Target Duration US Treasury ETF (XONE). 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 | XONE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.44 | ||
| Sortino ratioReturn per unit of downside risk | -13.86 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 3.12 | -2.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | 23.20 | -23.26 |
| Martin ratioReturn relative to average drawdown | -0.14 | 117.89 | -118.02 |
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Drawdowns
SPTL vs. XONE - Drawdown Comparison
The maximum SPTL drawdown since its inception was -46.20%, which is greater than XONE's maximum drawdown of -0.40%. Use the drawdown chart below to compare losses from any high point for SPTL and XONE.
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Drawdown Indicators
| SPTL | XONE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.20% | -0.40% | -45.80% |
Max Drawdown (1Y)Largest decline over 1 year | -7.09% | -0.16% | -6.93% |
Max Drawdown (3Y)Largest decline over 3 years | -13.39% | -0.28% | -13.11% |
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 | -38.71% | 0.00% | -38.71% |
Average DrawdownAverage peak-to-trough decline | -14.43% | -0.04% | -14.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 0.03% | +3.18% |
Volatility
SPTL vs. XONE - Volatility Comparison
SPDR Portfolio Long Term Treasury ETF (SPTL) has a higher volatility of 2.26% compared to BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) at 0.19%. This indicates that SPTL's price experiences larger fluctuations and is considered to be riskier than XONE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPTL | XONE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.26% | 0.19% | +2.07% |
Volatility (6M)Calculated over the trailing 6-month period | 6.39% | 0.41% | +5.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.51% | 0.58% | +7.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.50% | 0.85% | +13.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.88% | 0.85% | +13.03% |
SPTL vs. XONE - Expense Ratio Comparison
Both SPTL and XONE 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. XONE - Dividend Comparison
SPTL's dividend yield for the trailing twelve months is around 4.35%, more than XONE's 4.01% 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% |
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF | 3.64% | 4.33% | 5.21% | 4.46% | 1.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPTL and XONE have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPTL has higher volatility (2.26%) compared to XONE (0.19%). In terms of maximum drawdown, SPTL dropped -46.20% vs XONE's -0.40%.
On 3-year performance, XONE leads with 4.52% vs -0.59% for SPTL. Both ETFs have the same 0.03% expense ratio. On volatility, XONE has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XONE has performed better with a 4.52% return vs -0.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTL and XONE have the same expense ratio: 0.03% per year.
SPTL has the higher dividend yield at 3.99%, compared with 3.64% for XONE.
SPTL tracks Bloomberg Long U.S. Treasury Index, while XONE tracks Bloomberg US Treasury 1 Year Target Duration Index. They also come from different issuers: State Street and BondBloxx.
XONE currently has the higher Sharpe Ratio (6.39 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.
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