SPTU vs. BIB

Last updated Jun 24, 2026

SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) and BIB (ProShares Ultra Nasdaq Biotechnology) are both exchange-traded funds - SPTU is a Ultrashort Bond fund tracking the ICE BofA US Treasury Bill Index, while BIB is a Leveraged Equities fund tracking the NASDAQ Biotechnology Index (200%). Both are passively managed. At a correlation of -0.08, they often move in opposite directions. SPTU charges 0.05%/yr vs 0.95%/yr for BIB.

Performance

SPTU vs. BIB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU) and ProShares Ultra Nasdaq Biotechnology (BIB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPTU achieves a 1.66% return, which is significantly lower than BIB's 12.50% return.

SPTU

• 1D: 0.03%
• 1M: 0.29%
• YTD: 1.66%
• 6M: 1.74%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BIB

• 1D: 1.97%
• 1M: 9.49%
• YTD: 12.50%
• 6M: 8.62%
• 1Y: 100.86%
• 3Y*: 19.65%
• 5Y*: -0.74%
• 10Y*: 9.71%

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

SPTU vs. BIB - Yearly Performance Comparison

	2026 (YTD)	2025
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.66%	0.87%
BIB ProShares Ultra Nasdaq Biotechnology	12.50%	24.02%

Correlation

The correlation between SPTU and BIB is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 8, 2025	-0.08

Return for Risk

SPTU vs. BIB — Risk / Return Rank

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

SPTU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BIB

BIB Risk / Return Rank: 80
BIB Sharpe Ratio Rank: 83
BIB Sortino Ratio Rank: 73
BIB Omega Ratio Rank: 65
BIB Calmar Ratio Rank: 92
BIB Martin Ratio Rank: 88

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.

SPTU vs. BIB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU) and ProShares Ultra Nasdaq Biotechnology (BIB). 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.

	SPTU	BIB	Difference
Sharpe ratio: Return per unit of total volatility	—	2.51	—
Sortino ratio: Return per unit of downside risk	—	3.08	—
Omega ratio: Gain probability vs. loss probability	—	1.36	—
Calmar ratio: Return relative to maximum drawdown	—	5.99	—
Martin ratio: Return relative to average drawdown	—	18.30	—

Drawdowns

SPTU vs. BIB - Drawdown Comparison

The maximum SPTU drawdown since its inception was -0.04%, smaller than the maximum BIB drawdown of -67.24%. Use the drawdown chart below to compare losses from any high point for SPTU and BIB.

Drawdown Indicators

	SPTU	BIB	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-67.24%	+67.20%
Max Drawdown (1Y) Largest decline over 1 year	—	-16.92%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-45.30%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-65.86%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-66.20%	—
Current Drawdown Current decline from peak	0.00%	-17.29%	+17.29%
Average Drawdown Average peak-to-trough decline	-0.00%	-32.71%	+32.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.53%	—

Volatility

Volatility by Period

	SPTU	BIB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.56%	—
Volatility (6M) Calculated over the trailing 6-month period	—	31.65%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.33%	40.43%	-40.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.33%	43.60%	-43.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.33%	46.39%	-46.06%

SPTU vs. BIB - Expense Ratio Comparison

SPTU has a 0.05% expense ratio, which is lower than BIB's 0.95% expense ratio.

Dividends

SPTU vs. BIB - Dividend Comparison

SPTU's dividend yield for the trailing twelve months is around 2.36%, more than BIB's 0.55% yield.

Position	TTM	2025	2024	2023	2022
BIB ProShares Ultra Nasdaq Biotechnology	0.55%	0.77%	1.69%	0.07%	0.03%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.36%	0.89%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPTU and BIB in my portfolio?

SPTU and BIB have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPTU or BIB?

On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPTU or BIB?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.95% for BIB.

Which ETF pays a higher dividend yield, SPTU or BIB?

SPTU has the higher dividend yield at 2.36%, compared with 0.55% for BIB.

What is the main difference between SPTU and BIB?

SPTU is categorized as Ultrashort Bond, while BIB is Leveraged Equities. SPTU tracks ICE BofA US Treasury Bill Index, while BIB tracks NASDAQ Biotechnology Index (200%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.05% for SPTU and 0.95% for BIB.