SPTU vs. CNYA

Last updated Jun 5, 2026

SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) and CNYA (iShares MSCI China A ETF) are both exchange-traded funds - SPTU is a Ultrashort Bond fund tracking the ICE BofA US Treasury Bill Index, while CNYA is a China Equities fund tracking the MSCI China A Inclusion Index. Both are passively managed. At a correlation of -0.11, they often move in opposite directions. SPTU charges 0.05%/yr vs 0.60%/yr for CNYA.

Performance

SPTU vs. CNYA - 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 iShares MSCI China A ETF (CNYA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPTU achieves a 1.48% return, which is significantly lower than CNYA's 8.91% return.

SPTU

• 1D: 0.00%
• 1M: 0.27%
• YTD: 1.48%
• 6M: 1.77%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CNYA

• 1D: -0.36%
• 1M: 1.89%
• YTD: 8.91%
• 6M: 13.45%
• 1Y: 36.38%
• 3Y*: 11.15%
• 5Y*: -1.13%
• 10Y*: —

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

SPTU vs. CNYA - Yearly Performance Comparison

	2026 (YTD)	2025
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.48%	0.92%
CNYA iShares MSCI China A ETF	8.91%	2.74%

Correlation

The correlation between SPTU and CNYA is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025	-0.11

Return for Risk

SPTU vs. CNYA — Risk / Return Rank

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

CNYA

CNYA Risk / Return Rank: 71
CNYA Sharpe Ratio Rank: 65
CNYA Sortino Ratio Rank: 64
CNYA Omega Ratio Rank: 64
CNYA Calmar Ratio Rank: 86
CNYA Martin Ratio Rank: 75

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. CNYA - 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 iShares MSCI China A ETF (CNYA). 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.

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

Sharpe Ratios by Period

	SPTU	CNYA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.11	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	11.77	0.27	+11.49

Drawdowns

SPTU vs. CNYA - Drawdown Comparison

The maximum SPTU drawdown since its inception was -0.04%, smaller than the maximum CNYA drawdown of -49.49%. Use the drawdown chart below to compare losses from any high point for SPTU and CNYA.

Drawdown Indicators

	SPTU	CNYA	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-49.49%	+49.45%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.59%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-33.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-44.70%	—
Current Drawdown Current decline from peak	0.00%	-13.73%	+13.73%
Average Drawdown Average peak-to-trough decline	-0.00%	-20.68%	+20.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.57%	—

Volatility

Volatility by Period

	SPTU	CNYA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.23%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.32%	17.31%	-16.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.32%	23.80%	-23.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.32%	23.55%	-23.23%

SPTU vs. CNYA - Expense Ratio Comparison

SPTU has a 0.05% expense ratio, which is lower than CNYA's 0.60% expense ratio.

Dividends

SPTU vs. CNYA - Dividend Comparison

SPTU's dividend yield for the trailing twelve months is around 2.36%, more than CNYA's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CNYA iShares MSCI China A ETF	1.76%	1.92%	2.51%	4.23%	2.69%	1.11%	1.06%	1.21%	3.92%	0.97%	1.38%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.36%	0.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPTU and CNYA in my portfolio?

SPTU and CNYA have a correlation of -0.11, 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 CNYA?

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 CNYA?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.60% for CNYA.

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

SPTU has the higher dividend yield at 2.36%, compared with 1.76% for CNYA.

What is the main difference between SPTU and CNYA?

SPTU is categorized as Ultrashort Bond, while CNYA is China Equities. SPTU tracks ICE BofA US Treasury Bill Index, while CNYA tracks MSCI China A Inclusion Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.05% for SPTU and 0.60% for CNYA.