SPTM vs. PBUS

Last updated Jun 4, 2026

SPTM (SPDR Portfolio S&P 1500 Composite Stock Market ETF) and PBUS (Invesco PureBeta MSCI USA ETF) are both exchange-traded funds - SPTM is a Large Cap Blend Equities fund tracking the S&P Composite 1500 Index, while PBUS is a Large Cap Growth Equities fund tracking the MSCI USA Index. Both are passively managed. Over the past 5 years, SPTM returned 13.38%/yr vs 13.48%/yr for PBUS. Their correlation of 0.89 suggests significant overlap in exposure. SPTM charges 0.03%/yr vs 0.04%/yr for PBUS.

Performance

SPTM vs. PBUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM) and Invesco PureBeta MSCI USA ETF (PBUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SPTM having a 11.10% return and PBUS slightly lower at 10.82%.

SPTM

• 1D: -0.67%
• 1M: 4.87%
• YTD: 11.10%
• 6M: 11.13%
• 1Y: 27.84%
• 3Y*: 21.90%
• 5Y*: 13.38%
• 10Y*: 15.21%

PBUS

• 1D: -0.64%
• 1M: 5.14%
• YTD: 10.82%
• 6M: 10.68%
• 1Y: 27.65%
• 3Y*: 22.61%
• 5Y*: 13.48%
• 10Y*: —

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

SPTM vs. PBUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPTM SPDR Portfolio S&P 1500 Composite Stock Market ETF	11.10%	16.93%	23.87%	25.55%	-17.75%	28.58%	17.94%	31.34%	-5.30%	7.58%
PBUS Invesco PureBeta MSCI USA ETF	10.82%	17.58%	24.99%	27.33%	-19.64%	26.77%	21.75%	31.60%	-4.77%	7.13%

Correlation

The correlation between SPTM and PBUS is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Sep 25, 2017	0.89

The correlation between SPTM and PBUS has been stable across timeframes, ranging from 0.89 to 0.99 - a consistent structural relationship.

SPTM vs. PBUS - Sectors Allocation Comparison

Sectors	SPTM	PBUS
Technology	34.0%	35.4%
Financial Services	12.1%	11.6%
Communication Services	10.5%	11.3%
Consumer Cyclical	10.3%	10.1%
Industrials	9.4%	8.6%
Healthcare	8.6%	8.6%
Consumer Defensive	4.8%	4.8%
Energy	3.7%	3.6%
Utilities	2.3%	2.3%
Real Estate	2.3%	1.9%
Basic Materials	2.0%	1.8%

Return for Risk

SPTM vs. PBUS — Risk / Return Rank

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

SPTM

SPTM Risk / Return Rank: 70
SPTM Sharpe Ratio Rank: 70
SPTM Sortino Ratio Rank: 69
SPTM Omega Ratio Rank: 69
SPTM Calmar Ratio Rank: 64
SPTM Martin Ratio Rank: 76

PBUS

PBUS Risk / Return Rank: 68
PBUS Sharpe Ratio Rank: 70
PBUS Sortino Ratio Rank: 68
PBUS Omega Ratio Rank: 69
PBUS Calmar Ratio Rank: 62
PBUS Martin Ratio Rank: 73

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.

SPTM vs. PBUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM) and Invesco PureBeta MSCI USA ETF (PBUS). 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.

	SPTM	PBUS	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.30	+0.05
Sortino ratio: Return per unit of downside risk	3.23	3.15	+0.08
Omega ratio: Gain probability vs. loss probability	1.43	1.41	+0.01
Calmar ratio: Return relative to maximum drawdown	3.22	3.08	+0.14
Martin ratio: Return relative to average drawdown	15.01	13.93	+1.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPTM vs. PBUS - Sharpe Ratio Comparison

The current SPTM Sharpe Ratio is 2.36, which is comparable to the PBUS Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of SPTM and PBUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPTM	PBUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	2.30	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.80	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.80	-0.34

Drawdowns

SPTM vs. PBUS - Drawdown Comparison

The maximum SPTM drawdown since its inception was -54.80%, which is greater than PBUS's maximum drawdown of -33.15%. Use the drawdown chart below to compare losses from any high point for SPTM and PBUS.

Drawdown Indicators

	SPTM	PBUS	Difference
Max Drawdown Largest peak-to-trough decline	-54.80%	-33.15%	-21.65%
Max Drawdown (1Y) Largest decline over 1 year	-8.68%	-9.02%	+0.34%
Max Drawdown (3Y) Largest decline over 3 years	-18.87%	-19.07%	+0.20%
Max Drawdown (5Y) Largest decline over 5 years	-24.14%	-25.40%	+1.26%
Max Drawdown (10Y) Largest decline over 10 years	-34.66%	—	—
Current Drawdown Current decline from peak	-0.67%	-0.64%	-0.03%
Average Drawdown Average peak-to-trough decline	-9.05%	-5.13%	-3.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	1.99%	-0.13%

Volatility

SPTM vs. PBUS - Volatility Comparison

SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM) and Invesco PureBeta MSCI USA ETF (PBUS) have volatilities of 2.88% and 2.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPTM	PBUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.88%	2.94%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	8.92%	9.13%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	11.88%	12.06%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.87%	17.05%	-0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	19.33%	-1.30%

SPTM vs. PBUS - Expense Ratio Comparison

SPTM has a 0.03% expense ratio, which is lower than PBUS's 0.04% 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

SPTM vs. PBUS - Dividend Comparison

SPTM's dividend yield for the trailing twelve months is around 1.04%, more than PBUS's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBUS Invesco PureBeta MSCI USA ETF	0.98%	1.05%	1.20%	1.36%	1.71%	0.98%	1.35%	1.53%	2.33%	0.50%	0.00%	0.00%
SPTM SPDR Portfolio S&P 1500 Composite Stock Market ETF	1.04%	1.13%	1.28%	1.44%	1.69%	1.25%	1.56%	1.72%	1.90%	1.66%	1.91%	1.92%

Frequently Asked Questions

Can I hold both SPTM and PBUS in my portfolio?

With a correlation of 0.99, SPTM and PBUS 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, SPTM or PBUS?

PBUS has higher volatility (2.94%) compared to SPTM (2.88%). In terms of maximum drawdown, SPTM dropped -54.80% vs PBUS's -33.15%.

Which ETF is better, SPTM or PBUS?

On 5-year performance, PBUS leads with 13.48% vs 13.38% for SPTM. On fees, SPTM is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPTM or PBUS?

Over the 5-year period, PBUS has performed better with a 13.48% return vs 13.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPTM or PBUS?

SPTM is cheaper with a 0.03% expense ratio, compared with 0.04% for PBUS.

Which ETF pays a higher dividend yield, SPTM or PBUS?

SPTM has the higher dividend yield at 1.04%, compared with 0.98% for PBUS.

What is the main difference between SPTM and PBUS?

SPTM is categorized as Large Cap Blend Equities, while PBUS is Large Cap Growth Equities. SPTM tracks S&P Composite 1500 Index, while PBUS tracks MSCI USA Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.03% for SPTM and 0.04% for PBUS.

Which has better risk-adjusted returns?

SPTM currently has the higher Sharpe Ratio (2.36 vs 2.30), 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.