TROT vs. SPTL

Last updated Jul 1, 2026

TROT (Invesco MSCI Treasury Duration Rotation ETF) and SPTL (SPDR Portfolio Long Term Treasury ETF) are both Government Bonds funds - TROT tracks the MSCI Treasury Duration Rotation Index while SPTL tracks the Bloomberg Long U.S. Treasury Index. Both are passively managed. Their correlation of 0.80 suggests significant overlap in exposure.

Performance

TROT vs. SPTL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI Treasury Duration Rotation ETF (TROT) and SPDR Portfolio Long Term Treasury ETF (SPTL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TROT

• 1D: -0.12%
• 1M: 0.09%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPTL

• 1D: -1.09%
• 1M: 1.09%
• YTD: 0.81%
• 6M: 0.17%
• 1Y: 2.83%
• 3Y*: -0.47%
• 5Y*: -5.64%
• 10Y*: -1.54%

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

TROT vs. SPTL - Yearly Performance Comparison

	2026 (YTD)
TROT Invesco MSCI Treasury Duration Rotation ETF	-0.34%
SPTL SPDR Portfolio Long Term Treasury ETF	-2.28%

Correlation

The correlation between TROT and SPTL is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 25, 2026	0.80

Return for Risk

TROT vs. SPTL — Risk / Return Rank

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

TROT

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

SPTL

SPTL Risk / Return Rank: 13
SPTL Sharpe Ratio Rank: 13
SPTL Sortino Ratio Rank: 12
SPTL Omega Ratio Rank: 12
SPTL Calmar Ratio Rank: 13
SPTL Martin Ratio Rank: 14

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.

TROT vs. SPTL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Treasury Duration Rotation ETF (TROT) and SPDR Portfolio Long Term Treasury ETF (SPTL). 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.

	TROT	SPTL	Difference
Sharpe ratio: Return per unit of total volatility	—	0.33	—
Sortino ratio: Return per unit of downside risk	—	0.53	—
Omega ratio: Gain probability vs. loss probability	—	1.06	—
Calmar ratio: Return relative to maximum drawdown	—	0.40	—
Martin ratio: Return relative to average drawdown	—	0.99	—

Drawdowns

TROT vs. SPTL - Drawdown Comparison

The maximum TROT drawdown since its inception was -1.29%, smaller than the maximum SPTL drawdown of -46.20%. Use the drawdown chart below to compare losses from any high point for TROT and SPTL.

Drawdown Indicators

	TROT	SPTL	Difference
Max Drawdown Largest peak-to-trough decline	-1.29%	-46.20%	+44.91%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.04%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-41.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.20%	—
Current Drawdown Current decline from peak	-0.62%	-36.12%	+35.50%
Average Drawdown Average peak-to-trough decline	-0.71%	-14.32%	+13.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.86%	—

Volatility

Volatility by Period

	TROT	SPTL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.61%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.31%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.11%	8.76%	-6.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.11%	14.58%	-12.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.11%	13.91%	-11.80%

Dividends

TROT vs. SPTL - Dividend Comparison

TROT's dividend yield for the trailing twelve months is around 1.16%, less than SPTL's 4.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPTL SPDR Portfolio Long Term Treasury ETF	4.16%	4.12%	4.03%	3.24%	2.75%	1.68%	1.71%	2.45%	2.69%	2.53%	2.56%	2.60%
TROT Invesco MSCI Treasury Duration Rotation ETF	1.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TROT and SPTL in my portfolio?

TROT and SPTL have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, TROT or SPTL?

SPTL has the higher dividend yield at 4.16%, compared with 1.16% for TROT.

What is the main difference between TROT and SPTL?

TROT tracks MSCI Treasury Duration Rotation Index, while SPTL tracks Bloomberg Long U.S. Treasury Index. They also come from different issuers: Invesco and State Street.