SYBT.DE vs. GOVT
SYBT.DE (SPDR Bloomberg US Treasury Bond UCITS ETF) and GOVT (iShares U.S. Treasury Bond ETF) are both Government Bonds funds - SYBT.DE tracks the Bloomberg US Treasury while GOVT tracks the ICE U.S. Treasury Core Bond Index. Both are passively managed. Over the past 10 years, SYBT.DE returned 0.75%/yr vs 0.68%/yr for GOVT. A 0.78 correlation means they provide meaningful diversification when combined. SYBT.DE charges 0.15%/yr vs 0.05%/yr for GOVT.
Performance
SYBT.DE vs. GOVT - Performance Comparison
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Different Trading Currencies
SYBT.DE is traded in EUR, while GOVT is traded in USD. To make them comparable, the GOVT values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SYBT.DE achieves a 0.91% return, which is significantly lower than GOVT's 1.16% return. Over the past 10 years, SYBT.DE has outperformed GOVT with an annualized return of 0.75%, while GOVT has yielded a comparatively lower 0.68% annualized return.
SYBT.DE
- 1D
- -0.19%
- 1M
- 0.79%
- YTD
- 0.91%
- 6M
- 0.11%
- 1Y
- 1.42%
- 3Y*
- 0.03%
- 5Y*
- 0.43%
- 10Y*
- 0.75%
GOVT
- 1D
- -0.01%
- 1M
- 0.80%
- YTD
- 1.16%
- 6M
- 0.28%
- 1Y
- 1.63%
- 3Y*
- 0.14%
- 5Y*
- 0.50%
- 10Y*
- 0.68%
SYBT.DE vs. GOVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SYBT.DE SPDR Bloomberg US Treasury Bond UCITS ETF | 0.91% | -5.48% | 6.46% | 0.26% | -7.00% | 5.72% | -1.94% | 10.87% | 5.29% | -10.13% |
GOVT iShares U.S. Treasury Bond ETF | 1.16% | -8.55% | 9.75% | 1.05% | -8.02% | 6.28% | -1.56% | 9.78% | 4.96% | -10.37% |
Correlation
The correlation between SYBT.DE and GOVT is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2012 | 0.78 |
The correlation between SYBT.DE and GOVT has been stable across timeframes, ranging from 0.74 to 0.78 - a consistent structural relationship.
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Return for Risk
SYBT.DE vs. GOVT — Risk / Return Rank
SYBT.DE
GOVT
SYBT.DE vs. GOVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg US Treasury Bond UCITS ETF (SYBT.DE) and iShares U.S. Treasury Bond ETF (GOVT). 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.
| SYBT.DE | GOVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.05 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 0.36 | -0.03 |
| Martin ratioReturn relative to average drawdown | 0.88 | 1.00 | -0.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SYBT.DE | GOVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.25 | 0.28 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.06 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.10 | 0.08 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.27 | +0.07 |
Drawdowns
SYBT.DE vs. GOVT - Drawdown Comparison
The maximum SYBT.DE drawdown since its inception was -17.66%, roughly equal to the maximum GOVT drawdown of -17.66%. Use the drawdown chart below to compare losses from any high point for SYBT.DE and GOVT.
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Drawdown Indicators
| SYBT.DE | GOVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.66% | -17.66% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -4.22% | -4.54% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -11.03% | -11.49% | +0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -13.06% | -12.87% | -0.19% |
Max Drawdown (10Y)Largest decline over 10 years | -17.66% | -17.66% | 0.00% |
Current DrawdownCurrent decline from peak | -13.25% | -13.03% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -8.61% | -8.71% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.62% | 1.68% | -0.06% |
Volatility
SYBT.DE vs. GOVT - Volatility Comparison
SPDR Bloomberg US Treasury Bond UCITS ETF (SYBT.DE) has a higher volatility of 1.34% compared to iShares U.S. Treasury Bond ETF (GOVT) at 0.82%. This indicates that SYBT.DE's price experiences larger fluctuations and is considered to be riskier than GOVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SYBT.DE | GOVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 0.82% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 4.16% | 4.32% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.77% | 5.84% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.18% | 8.38% | -0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.74% | 8.09% | -0.35% |
SYBT.DE vs. GOVT - Expense Ratio Comparison
SYBT.DE has a 0.15% expense ratio, which is higher than GOVT's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SYBT.DE vs. GOVT - Dividend Comparison
SYBT.DE's dividend yield for the trailing twelve months is around 3.62%, more than GOVT's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | 3.58% | 3.49% | 3.14% | 2.65% | 1.77% | 0.96% | 2.17% | 1.98% | 1.97% | 1.57% | 1.40% | 1.25% |
SYBT.DE SPDR Bloomberg US Treasury Bond UCITS ETF | 3.62% | 3.70% | 2.94% | 2.22% | 1.31% | 0.92% | 1.98% | 3.24% | 1.58% | 1.66% | 1.29% | 1.25% |
Frequently Asked Questions
SYBT.DE and GOVT have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GOVT is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GOVT is cheaper with a 0.05% expense ratio, compared with 0.15% for SYBT.DE.
SYBT.DE tracks Bloomberg US Treasury, while GOVT tracks ICE U.S. Treasury Core Bond Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for SYBT.DE and 0.05% for GOVT.
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