SPTS vs. BSV
SPTS (SPDR Portfolio Short Term Treasury ETF) and BSV (Vanguard Short-Term Bond Index Fund ETF Shares) are both exchange-traded funds - SPTS is a Government Bonds fund tracking the Bloomberg 1-3 Year U.S. Treasury Index, while BSV is a Short-Term Bond fund tracking the Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index. Both are passively managed. Over the past 10 years, SPTS returned 1.64%/yr vs 1.90%/yr for BSV. Their 0.70 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.03% expense ratio.
Performance
SPTS vs. BSV - Performance Comparison
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Returns By Period
In the year-to-date period, SPTS achieves a 0.75% return, which is significantly higher than BSV's 0.42% return. Over the past 10 years, SPTS has underperformed BSV with an annualized return of 1.64%, while BSV has yielded a comparatively higher 1.90% annualized return.
SPTS
- 1D
- -0.07%
- 1M
- 0.00%
- 6M
- 0.58%
- YTD
- 0.75%
- 1Y
- 2.62%
- 3Y*
- 4.34%
- 5Y*
- 1.87%
- 10Y*
- 1.64%
- ALL TIME*
- 1.44%
BSV
- 1D
- -0.08%
- 1M
- -0.22%
- 6M
- 0.27%
- YTD
- 0.42%
- 1Y
- 2.36%
- 3Y*
- 4.55%
- 5Y*
- 1.61%
- 10Y*
- 1.90%
- ALL TIME*
- 2.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $124.18M | $168.72M | $200.19M | |
| $23.39M | $28.59M | $39.91M |
SPTS vs. BSV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPTS SPDR Portfolio Short Term Treasury ETF | 0.75% | 5.05% | 4.20% | 4.27% | -3.86% | -0.72% | 3.23% | 3.56% | 1.08% | 0.59% |
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 0.42% | 6.00% | 3.78% | 4.90% | -5.49% | -1.09% | 4.70% | 4.98% | 1.34% | 1.20% |
Correlation
The correlation between SPTS and BSV is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2011 | 0.70 |
Over the past year, SPTS and BSV have become more correlated (0.91) than their long-term average of 0.70, meaning their price movements have been converging.
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Return for Risk
SPTS vs. BSV — Risk / Return Rank
SPTS
BSV
SPTS vs. BSV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Short Term Treasury ETF (SPTS) and Vanguard Short-Term Bond Index Fund ETF Shares (BSV). 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.
| SPTS | BSV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.31 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.76 | 2.33 | +1.43 |
| Martin ratioReturn relative to average drawdown | 14.64 | 7.21 | +7.44 |
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Drawdowns
SPTS vs. BSV - Drawdown Comparison
The maximum SPTS drawdown since its inception was -5.83%, smaller than the maximum BSV drawdown of -8.54%. Use the drawdown chart below to compare losses from any high point for SPTS and BSV.
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Drawdown Indicators
| SPTS | BSV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.83% | -8.54% | +2.71% |
Max Drawdown (1Y)Largest decline over 1 year | -0.84% | -1.29% | +0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -0.96% | -1.53% | +0.57% |
Max Drawdown (5Y)Largest decline over 5 years | -5.71% | -8.54% | +2.83% |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | -8.54% | +2.83% |
Current DrawdownCurrent decline from peak | -0.07% | -0.50% | +0.43% |
Average DrawdownAverage peak-to-trough decline | -1.70% | -0.97% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.42% | -0.21% |
Volatility
SPTS vs. BSV - Volatility Comparison
The current volatility for SPDR Portfolio Short Term Treasury ETF (SPTS) is 0.41%, while Vanguard Short-Term Bond Index Fund ETF Shares (BSV) has a volatility of 0.49%. This indicates that SPTS experiences smaller price fluctuations and is considered to be less risky than BSV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPTS | BSV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 0.49% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 1.00% | 1.41% | -0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.34% | 1.81% | -0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 2.74% | -0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.70% | 2.38% | -0.68% |
SPTS vs. BSV - Expense Ratio Comparison
Both SPTS and BSV 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
SPTS vs. BSV - Dividend Comparison
SPTS's dividend yield for the trailing twelve months is around 3.88%, less than BSV's 4.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 3.68% | 3.83% | 3.38% | 2.46% | 1.50% | 1.45% | 1.79% | 2.29% | 1.99% | 1.65% | 1.48% | 1.40% |
SPTS SPDR Portfolio Short Term Treasury ETF | 3.54% | 3.99% | 4.25% | 3.61% | 1.27% | 0.19% | 0.70% | 2.21% | 2.04% | 1.20% | 0.95% | 0.83% |
Frequently Asked Questions
With a correlation of 0.91, SPTS and BSV 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.
BSV has higher volatility (0.49%) compared to SPTS (0.41%). In terms of maximum drawdown, SPTS dropped -5.83% vs BSV's -8.54%.
On 10-year performance, BSV leads with 1.90% vs 1.64% for SPTS. Both ETFs have the same 0.03% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BSV has performed better with a 1.90% return vs 1.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTS and BSV have the same expense ratio: 0.03% per year.
BSV has the higher dividend yield at 3.68%, compared with 3.54% for SPTS.
SPTS is categorized as Government Bonds, while BSV is Short-Term Bond. SPTS tracks Bloomberg 1-3 Year U.S. Treasury Index, while BSV tracks Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index. They also come from different issuers: State Street and Vanguard.
SPTS currently has the higher Sharpe Ratio (2.35 vs 1.66), 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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