TLDR vs. SPTU

Last updated Jun 23, 2026

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

Performance

TLDR vs. SPTU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Laddered T-Bill ETF (TLDR) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TLDR

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

SPTU

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

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

TLDR vs. SPTU - Yearly Performance Comparison

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

Correlation

The correlation between TLDR and SPTU 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

TLDR vs. SPTU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Laddered T-Bill ETF (TLDR) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). 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

TLDR vs. SPTU - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

Volatility by Period

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

TLDR vs. SPTU - Expense Ratio Comparison

TLDR has a 0.20% expense ratio, which is higher than SPTU'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

TLDR vs. SPTU - Dividend Comparison

TLDR's dividend yield for the trailing twelve months is around 1.36%, less than SPTU's 2.36% 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 TLDR and SPTU in my portfolio?

TLDR and SPTU 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, TLDR or SPTU?

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, TLDR or SPTU?

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

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

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

What is the main difference between TLDR and SPTU?

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