SPTU vs. TLDR

Last updated Jun 23, 2026

SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) and TLDR (The Laddered T-Bill ETF) are both Ultrashort Bond funds. SPTU is passively managed, while TLDR is actively managed. At a 0.30 correlation, their price movements are largely independent. SPTU charges 0.05%/yr vs 0.20%/yr for TLDR.

Performance

SPTU vs. TLDR - 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 The Laddered T-Bill ETF (TLDR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPTU

• 1D: -0.01%
• 1M: 0.25%
• YTD: 1.63%
• 6M: 1.75%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TLDR

• 1D: 0.00%
• 1M: 0.29%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPTU vs. TLDR - Yearly Performance Comparison

	2026 (YTD)
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.47%
TLDR The Laddered T-Bill ETF	1.39%

Correlation

The correlation between SPTU and TLDR is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 21, 2026	0.30

Return for Risk

SPTU vs. TLDR - 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 The Laddered T-Bill ETF (TLDR). 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.

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

Drawdowns

SPTU vs. TLDR - Drawdown Comparison

The maximum SPTU drawdown since its inception was -0.04%, smaller than the maximum TLDR drawdown of -0.05%. Use the drawdown chart below to compare losses from any high point for SPTU and TLDR.

Drawdown Indicators

	SPTU	TLDR	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-0.05%	+0.01%
Current Drawdown Current decline from peak	-0.01%	0.00%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.01%	+0.01%

Volatility

Volatility by Period

	SPTU	TLDR	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.33%	0.38%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.33%	0.38%	-0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.33%	0.38%	-0.05%

SPTU vs. TLDR - Expense Ratio Comparison

SPTU has a 0.05% expense ratio, which is lower than TLDR's 0.20% 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

SPTU vs. TLDR - Dividend Comparison

SPTU's dividend yield for the trailing twelve months is around 2.36%, more than TLDR's 1.36% yield.

Position	TTM	2025
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.36%	0.89%
TLDR The Laddered T-Bill ETF	1.36%	0.00%

Frequently Asked Questions

Can I hold both SPTU and TLDR in my portfolio?

SPTU and TLDR have a correlation of 0.30, 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 TLDR?

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 TLDR?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.20% for TLDR.

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

SPTU has the higher dividend yield at 2.36%, compared with 1.36% for TLDR.

What is the main difference between SPTU and TLDR?

They also come from different issuers: State Street and REX Shares. Their fees differ too: 0.05% for SPTU and 0.20% for TLDR.