TRIN vs. SPTS

Last updated Jun 4, 2026

TRIN (Trinity Capital Inc.) is a stock, while SPTS (SPDR Portfolio Short Term Treasury ETF) is Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. Over the past 5 years, TRIN returned 18.60%/yr vs 1.81%/yr for SPTS. At a 0.04 correlation, their price movements are largely independent.

Performance

TRIN vs. SPTS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Trinity Capital Inc. (TRIN) and SPDR Portfolio Short Term Treasury ETF (SPTS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRIN achieves a 21.70% return, which is significantly higher than SPTS's 0.45% return.

TRIN

• 1D: -2.31%
• 1M: 1.48%
• YTD: 21.70%
• 6M: 24.95%
• 1Y: 35.70%
• 3Y*: 27.38%
• 5Y*: 18.60%
• 10Y*: —

SPTS

• 1D: -0.07%
• 1M: 0.05%
• YTD: 0.45%
• 6M: 0.77%
• 1Y: 3.45%
• 3Y*: 4.18%
• 5Y*: 1.81%
• 10Y*: 1.67%

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

TRIN vs. SPTS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TRIN Trinity Capital Inc.	21.70%	16.01%	14.83%	53.97%	-26.60%	27.12%
SPTS SPDR Portfolio Short Term Treasury ETF	0.45%	5.05%	4.20%	4.27%	-3.86%	-0.69%

Correlation

The correlation between TRIN and SPTS is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (All Time) Calculated using the full available price history since Feb 1, 2021	0.04

Return for Risk

TRIN vs. SPTS — Risk / Return Rank

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

TRIN

TRIN Risk / Return Rank: 80
TRIN Sharpe Ratio Rank: 85
TRIN Sortino Ratio Rank: 81
TRIN Omega Ratio Rank: 79
TRIN Calmar Ratio Rank: 77
TRIN Martin Ratio Rank: 78

SPTS

SPTS Risk / Return Rank: 84
SPTS Sharpe Ratio Rank: 79
SPTS Sortino Ratio Rank: 91
SPTS Omega Ratio Rank: 87
SPTS Calmar Ratio Rank: 79
SPTS Martin Ratio Rank: 82

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.

TRIN vs. SPTS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trinity Capital Inc. (TRIN) and SPDR Portfolio Short Term Treasury ETF (SPTS). 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.

	TRIN	SPTS	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.63	-0.84
Sortino ratio: Return per unit of downside risk	2.47	4.47	-2.00
Omega ratio: Gain probability vs. loss probability	1.30	1.55	-0.25
Calmar ratio: Return relative to maximum drawdown	2.39	4.13	-1.73
Martin ratio: Return relative to average drawdown	6.01	16.52	-10.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRIN vs. SPTS - Sharpe Ratio Comparison

The current TRIN Sharpe Ratio is 1.79, which is lower than the SPTS Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of TRIN and SPTS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TRIN	SPTS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	2.63	-0.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.92	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.98	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.49	+0.15

Drawdowns

TRIN vs. SPTS - Drawdown Comparison

The maximum TRIN drawdown since its inception was -43.12%, which is greater than SPTS's maximum drawdown of -5.83%. Use the drawdown chart below to compare losses from any high point for TRIN and SPTS.

Drawdown Indicators

	TRIN	SPTS	Difference
Max Drawdown Largest peak-to-trough decline	-43.12%	-5.83%	-37.29%
Max Drawdown (1Y) Largest decline over 1 year	-14.99%	-0.84%	-14.15%
Max Drawdown (3Y) Largest decline over 3 years	-15.58%	-0.96%	-14.62%
Max Drawdown (5Y) Largest decline over 5 years	-43.12%	-5.71%	-37.41%
Max Drawdown (10Y) Largest decline over 10 years	—	-5.71%	—
Current Drawdown Current decline from peak	-2.31%	-0.28%	-2.03%
Average Drawdown Average peak-to-trough decline	-8.95%	-1.72%	-7.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.95%	0.21%	+5.74%

Volatility

TRIN vs. SPTS - Volatility Comparison

Trinity Capital Inc. (TRIN) has a higher volatility of 6.49% compared to SPDR Portfolio Short Term Treasury ETF (SPTS) at 0.34%. This indicates that TRIN's price experiences larger fluctuations and is considered to be riskier than SPTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRIN	SPTS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.49%	0.34%	+6.15%
Volatility (6M) Calculated over the trailing 6-month period	15.47%	0.86%	+14.61%
Volatility (1Y) Calculated over the trailing 1-year period	20.01%	1.32%	+18.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.58%	1.98%	+24.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.82%	1.72%	+25.10%

Dividends

TRIN vs. SPTS - Dividend Comparison

TRIN's dividend yield for the trailing twelve months is around 14.09%, more than SPTS's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPTS SPDR Portfolio Short Term Treasury ETF	3.91%	3.99%	4.25%	3.61%	1.27%	0.19%	0.70%	2.21%	2.04%	1.20%	0.95%	0.83%
TRIN Trinity Capital Inc.	14.09%	13.92%	14.10%	14.04%	21.32%	7.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TRIN and SPTS in my portfolio?

TRIN and SPTS have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRIN or SPTS?

TRIN has higher volatility (6.49%) compared to SPTS (0.34%). In terms of maximum drawdown, TRIN dropped -43.12% vs SPTS's -5.83%.

Which has better risk-adjusted returns?

SPTS currently has the higher Sharpe Ratio (2.63 vs 1.79), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.