SPTS vs. XTRE
SPTS (SPDR Portfolio Short Term Treasury ETF) and XTRE (BondBloxx Bloomberg Three Year Target Duration US Treasury ETF) are both Government Bonds funds - SPTS tracks the Bloomberg U.S. Treasury 1-3 Year Index while XTRE tracks the Bloomberg US Treasury 3 Year Target Duration Index. Both are passively managed. Over the past 3 years, SPTS returned 4.18%/yr vs 3.89%/yr for XTRE. Their correlation of 0.93 suggests significant overlap in exposure. SPTS charges 0.03%/yr vs 0.05%/yr for XTRE.
Performance
SPTS vs. XTRE - Performance Comparison
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Returns By Period
In the year-to-date period, SPTS achieves a 0.45% return, which is significantly higher than XTRE's -0.06% return.
SPTS
- 1D
- -0.07%
- 1M
- 0.05%
- YTD
- 0.45%
- 6M
- 0.77%
- 1Y
- 3.45%
- 3Y*
- 4.18%
- 5Y*
- 1.81%
- 10Y*
- 1.67%
XTRE
- 1D
- -0.10%
- 1M
- -0.07%
- YTD
- -0.06%
- 6M
- 0.07%
- 1Y
- 3.25%
- 3Y*
- 3.89%
- 5Y*
- —
- 10Y*
- —
SPTS vs. XTRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPTS SPDR Portfolio Short Term Treasury ETF | 0.45% | 5.05% | 4.20% | 4.27% | 0.14% |
XTRE BondBloxx Bloomberg Three Year Target Duration US Treasury ETF | -0.06% | 6.05% | 3.05% | 4.44% | 0.03% |
Correlation
The correlation between SPTS and XTRE is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022 | 0.93 |
The correlation between SPTS and XTRE has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.
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Return for Risk
SPTS vs. XTRE — Risk / Return Rank
SPTS
XTRE
SPTS vs. XTRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Short Term Treasury ETF (SPTS) and BondBloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE). 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.
| SPTS | XTRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.28 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 4.13 | 2.14 | +1.99 |
| Martin ratioReturn relative to average drawdown | 16.52 | 6.25 | +10.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPTS | XTRE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.63 | 1.52 | +1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.98 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 1.10 | -0.61 |
Drawdowns
SPTS vs. XTRE - Drawdown Comparison
The maximum SPTS drawdown since its inception was -5.83%, which is greater than XTRE's maximum drawdown of -2.89%. Use the drawdown chart below to compare losses from any high point for SPTS and XTRE.
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Drawdown Indicators
| SPTS | XTRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.83% | -2.89% | -2.94% |
Max Drawdown (1Y)Largest decline over 1 year | -0.84% | -1.53% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -0.96% | -2.00% | +1.04% |
Max Drawdown (5Y)Largest decline over 5 years | -5.71% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | — | — |
Current DrawdownCurrent decline from peak | -0.28% | -1.13% | +0.85% |
Average DrawdownAverage peak-to-trough decline | -1.72% | -0.83% | -0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.52% | -0.31% |
Volatility
SPTS vs. XTRE - Volatility Comparison
The current volatility for SPDR Portfolio Short Term Treasury ETF (SPTS) is 0.34%, while BondBloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE) has a volatility of 0.63%. This indicates that SPTS experiences smaller price fluctuations and is considered to be less risky than XTRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPTS | XTRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.34% | 0.63% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 1.49% | -0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.32% | 2.15% | -0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.98% | 3.32% | -1.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.72% | 3.32% | -1.60% |
SPTS vs. XTRE - Expense Ratio Comparison
SPTS has a 0.03% expense ratio, which is lower than XTRE's 0.05% 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. XTRE - Dividend Comparison
SPTS's dividend yield for the trailing twelve months is around 3.91%, less than XTRE's 4.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPTS SPDR Portfolio Short Term Treasury ETF | 3.91% | 3.99% | 4.25% | 3.61% | 1.27% | 0.19% | 0.70% | 2.21% | 2.04% | 1.20% | 0.95% | 0.83% |
XTRE BondBloxx Bloomberg Three Year Target Duration US Treasury ETF | 4.01% | 3.85% | 4.19% | 3.97% | 1.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.90, SPTS and XTRE 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.
XTRE has higher volatility (0.63%) compared to SPTS (0.34%). In terms of maximum drawdown, SPTS dropped -5.83% vs XTRE's -2.89%.
On 3-year performance, SPTS leads with 4.18% vs 3.89% for XTRE. On fees, SPTS is cheaper at 0.03% per year. On volatility, SPTS has been the lower-risk option at 0.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SPTS has performed better with a 4.18% return vs 3.89%. 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 0.05% for XTRE.
XTRE has the higher dividend yield at 4.01%, compared with 3.91% for SPTS.
SPTS tracks Bloomberg U.S. Treasury 1-3 Year Index, while XTRE tracks Bloomberg US Treasury 3 Year Target Duration Index. They also come from different issuers: State Street and BondBloxx. Their fees differ too: 0.03% for SPTS and 0.05% for XTRE.
SPTS currently has the higher Sharpe Ratio (2.63 vs 1.52), 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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