SPXB vs. ^GSPC

Last updated Jun 24, 2026

SPXB (ProShares S&P 500 Bond ETF) is Corporate Bonds fund tracking the S&P 500 MarketAxess Investment Grade Corporate Bond Index, while ^GSPC (S&P 500 Index) is an index. At a 0.17 correlation, their price movements are largely independent.

Performance

SPXB vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Bond ETF (SPXB) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPXB

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

^GSPC

• 1D: -1.44%
• 1M: -1.45%
• YTD: 7.60%
• 6M: 6.59%
• 1Y: 22.24%
• 3Y*: 19.20%
• 5Y*: 11.54%
• 10Y*: 13.71%

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

SPXB vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SPXB ProShares S&P 500 Bond ETF	0.00%	0.00%	-3.45%	8.83%	-16.66%	-1.89%	10.33%	15.34%	1.05%
^GSPC S&P 500 Index	7.60%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-4.89%

Correlation

The correlation between SPXB and ^GSPC is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since May 3, 2018	0.17

Return for Risk

SPXB vs. ^GSPC — Risk / Return Rank

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

SPXB

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

^GSPC

^GSPC Risk / Return Rank: 61
^GSPC Sharpe Ratio Rank: 58
^GSPC Sortino Ratio Rank: 57
^GSPC Omega Ratio Rank: 62
^GSPC Calmar Ratio Rank: 57
^GSPC Martin Ratio Rank: 72

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.

SPXB vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Bond ETF (SPXB) and S&P 500 Index (^GSPC). 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.

	SPXB	^GSPC	Difference
Sharpe ratio: Return per unit of total volatility	—	1.78	—
Sortino ratio: Return per unit of downside risk	—	2.44	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	2.46	—
Martin ratio: Return relative to average drawdown	—	10.92	—

Drawdowns

Drawdown Indicators

	SPXB	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	—	-56.78%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-9.10%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.90%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.92%	—
Current Drawdown Current decline from peak	—	-3.21%	—
Average Drawdown Average peak-to-trough decline	—	-10.71%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.04%	—

Volatility

Volatility by Period

	SPXB	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.89%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.93%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	12.57%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.00%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	18.08%	—

Frequently Asked Questions

Can I hold both SPXB and ^GSPC in my portfolio?

SPXB and ^GSPC have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.