SPTS vs. EMNT
SPTS (SPDR Portfolio Short Term Treasury ETF) and EMNT (PIMCO Enhanced Short Maturity Active ESG ETF) are both exchange-traded funds - SPTS is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index, while EMNT is a Ultrashort Bond fund actively managed by PIMCO. SPTS is passively managed, while EMNT is actively managed. Over the past 5 years, SPTS returned 1.88%/yr vs 3.47%/yr for EMNT. At a 0.48 correlation, their price movements are largely independent. SPTS charges 0.03%/yr vs 0.24%/yr for EMNT.
Performance
SPTS vs. EMNT - Performance Comparison
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Returns By Period
In the year-to-date period, SPTS achieves a 0.65% return, which is significantly lower than EMNT's 1.80% return.
SPTS
- 1D
- 0.10%
- 1M
- 0.36%
- YTD
- 0.65%
- 6M
- 0.88%
- 1Y
- 3.52%
- 3Y*
- 4.33%
- 5Y*
- 1.88%
- 10Y*
- 1.65%
EMNT
- 1D
- 0.03%
- 1M
- 0.34%
- YTD
- 1.80%
- 6M
- 1.99%
- 1Y
- 4.39%
- 3Y*
- 5.23%
- 5Y*
- 3.47%
- 10Y*
- —
SPTS vs. EMNT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPTS SPDR Portfolio Short Term Treasury ETF | 0.65% | 5.05% | 4.20% | 4.27% | -3.86% | -0.72% | 3.23% | 0.16% |
EMNT PIMCO Enhanced Short Maturity Active ESG ETF | 1.80% | 4.74% | 5.79% | 5.84% | -0.57% | 0.11% | 2.08% | 0.06% |
Correlation
The correlation between SPTS and EMNT is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2019 | 0.48 |
The correlation between SPTS and EMNT shifts across timeframes, from 0.39 (3 years) to 0.59 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPTS vs. EMNT — Risk / Return Rank
SPTS
EMNT
SPTS vs. EMNT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Short Term Treasury ETF (SPTS) and PIMCO Enhanced Short Maturity Active ESG ETF (EMNT). 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 | EMNT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.92 | ||
| Sortino ratioReturn per unit of downside risk | -16.37 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 5.52 | -3.95 |
| Calmar ratioReturn relative to maximum drawdown | 4.21 | 33.57 | -29.36 |
| Martin ratioReturn relative to average drawdown | 16.65 | 235.04 | -218.39 |
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Drawdowns
SPTS vs. EMNT - Drawdown Comparison
The maximum SPTS drawdown since its inception was -5.83%, which is greater than EMNT's maximum drawdown of -2.28%. Use the drawdown chart below to compare losses from any high point for SPTS and EMNT.
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Drawdown Indicators
| SPTS | EMNT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.83% | -2.28% | -3.55% |
Max Drawdown (1Y)Largest decline over 1 year | -0.84% | -0.13% | -0.71% |
Max Drawdown (3Y)Largest decline over 3 years | -0.96% | -0.73% | -0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -5.71% | -1.70% | -4.01% |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | — | — |
Current DrawdownCurrent decline from peak | -0.07% | 0.00% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -1.72% | -0.23% | -1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.02% | +0.19% |
Volatility
SPTS vs. EMNT - Volatility Comparison
SPDR Portfolio Short Term Treasury ETF (SPTS) has a higher volatility of 0.35% compared to PIMCO Enhanced Short Maturity Active ESG ETF (EMNT) at 0.12%. This indicates that SPTS's price experiences larger fluctuations and is considered to be riskier than EMNT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPTS | EMNT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.35% | 0.12% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 0.87% | 0.35% | +0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.30% | 0.42% | +0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.99% | 0.83% | +1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.71% | 0.86% | +0.85% |
SPTS vs. EMNT - Expense Ratio Comparison
SPTS has a 0.03% expense ratio, which is lower than EMNT's 0.24% 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
SPTS vs. EMNT - Dividend Comparison
SPTS's dividend yield for the trailing twelve months is around 3.90%, less than EMNT's 4.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMNT PIMCO Enhanced Short Maturity Active ESG ETF | 4.00% | 4.46% | 5.14% | 4.62% | 2.79% | 0.66% | 1.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPTS SPDR Portfolio Short Term Treasury ETF | 3.90% | 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
SPTS and EMNT have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPTS has higher volatility (0.35%) compared to EMNT (0.12%). In terms of maximum drawdown, SPTS dropped -5.83% vs EMNT's -2.28%.
On 5-year performance, EMNT leads with 3.47% vs 1.88% for SPTS. On fees, SPTS is cheaper at 0.03% per year. On volatility, EMNT has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EMNT has performed better with a 3.47% return vs 1.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTS is cheaper with a 0.03% expense ratio, compared with 0.24% for EMNT.
EMNT has the higher dividend yield at 4.00%, compared with 3.90% for SPTS.
SPTS is categorized as Government Bonds, while EMNT is Ultrashort Bond. They also come from different issuers: State Street and PIMCO. Their fees differ too: 0.03% for SPTS and 0.24% for EMNT.
EMNT currently has the higher Sharpe Ratio (10.65 vs 2.73), 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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