SPYD vs. IBTU.L
SPYD (State Street SPDR Portfolio S&P 500 High Dividend ETF) and IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) are both exchange-traded funds - SPYD is a S&P 500 fund tracking the S&P 500 High Dividend Index, while IBTU.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, SPYD returned 7.70%/yr vs 3.38%/yr for IBTU.L. At a correlation of -0.02, they often move in opposite directions. Both charge a 0.07% expense ratio.
Performance
SPYD vs. IBTU.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPYD achieves a 13.63% return, which is significantly higher than IBTU.L's 1.35% return.
SPYD
- 1D
- -0.96%
- 1M
- 5.26%
- YTD
- 13.63%
- 6M
- 12.94%
- 1Y
- 19.77%
- 3Y*
- 14.01%
- 5Y*
- 7.70%
- 10Y*
- 8.85%
IBTU.L
- 1D
- 0.00%
- 1M
- 0.20%
- YTD
- 1.35%
- 6M
- 1.76%
- 1Y
- 3.93%
- 3Y*
- 4.62%
- 5Y*
- 3.38%
- 10Y*
- —
SPYD vs. IBTU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF | 13.63% | 4.65% | 15.34% | 3.91% | -1.17% | 32.73% | -11.64% | 8.90% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 1.35% | 4.33% | 5.31% | 4.92% | 1.05% | 0.10% | 0.88% | 2.02% |
Correlation
The correlation between SPYD and IBTU.L is -0.13, 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 (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | -0.02 |
The correlation between SPYD and IBTU.L shifts across timeframes, from -0.13 (1 year) to -0.01 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPYD vs. IBTU.L — Risk / Return Rank
SPYD
IBTU.L
SPYD vs. IBTU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) and iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L). 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.
| SPYD | IBTU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.71 | ||
| Sortino ratioReturn per unit of downside risk | -4.55 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 3.47 | -2.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 19.33 | -16.51 |
| Martin ratioReturn relative to average drawdown | 8.20 | 83.95 | -75.75 |
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Drawdowns
SPYD vs. IBTU.L - Drawdown Comparison
The maximum SPYD drawdown since its inception was -46.42%, which is greater than IBTU.L's maximum drawdown of -0.72%. Use the drawdown chart below to compare losses from any high point for SPYD and IBTU.L.
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Drawdown Indicators
| SPYD | IBTU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.42% | -0.72% | -45.70% |
Max Drawdown (1Y)Largest decline over 1 year | -7.05% | -0.20% | -6.85% |
Max Drawdown (3Y)Largest decline over 3 years | -16.13% | -0.20% | -15.93% |
Max Drawdown (5Y)Largest decline over 5 years | -22.25% | -0.40% | -21.85% |
Max Drawdown (10Y)Largest decline over 10 years | -46.42% | — | — |
Current DrawdownCurrent decline from peak | -0.96% | 0.00% | -0.96% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -0.06% | -6.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 0.05% | +2.37% |
Volatility
SPYD vs. IBTU.L - Volatility Comparison
State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) has a higher volatility of 3.16% compared to iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) at 0.35%. This indicates that SPYD's price experiences larger fluctuations and is considered to be riskier than IBTU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYD | IBTU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.16% | 0.35% | +2.81% |
Volatility (6M)Calculated over the trailing 6-month period | 7.79% | 0.82% | +6.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.71% | 1.15% | +10.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.15% | 1.01% | +15.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.79% | 0.95% | +18.84% |
SPYD vs. IBTU.L - Expense Ratio Comparison
Both SPYD and IBTU.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SPYD vs. IBTU.L - Dividend Comparison
SPYD's dividend yield for the trailing twelve months is around 4.09%, which matches IBTU.L's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% | 0.00% | 0.00% | 0.00% | 0.00% |
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF | 4.09% | 4.52% | 4.31% | 4.66% | 5.01% | 3.68% | 4.95% | 4.42% | 4.75% | 4.63% | 4.34% | 1.13% |
Frequently Asked Questions
SPYD and IBTU.L have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SPYD and IBTU.L have the same expense ratio: 0.07% per year.
SPYD is categorized as S&P 500, while IBTU.L is Government Bonds. SPYD tracks S&P 500 High Dividend Index, while IBTU.L tracks ICE U.S. Treasury Short Bond Index. They also come from different issuers: State Street and iShares.
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