XONE vs. SPTS
XONE (BondBloxx Bloomberg One Year Target Duration US Treasury ETF) and SPTS (SPDR Portfolio Short Term Treasury ETF) are both Government Bonds funds - XONE tracks the Bloomberg US Treasury 1 Year Target Duration Index while SPTS tracks the Bloomberg 1-3 Year U.S. Treasury Index. Both are passively managed. Over the past 3 years, XONE returned 4.51%/yr vs 4.22%/yr for SPTS. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.03% expense ratio.
Performance
XONE vs. SPTS - Performance Comparison
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Returns By Period
In the year-to-date period, XONE achieves a 1.16% return, which is significantly higher than SPTS's 0.41% return.
XONE
- 1D
- -0.03%
- 1M
- 0.13%
- YTD
- 1.16%
- 6M
- 1.27%
- 1Y
- 3.62%
- 3Y*
- 4.51%
- 5Y*
- —
- 10Y*
- —
SPTS
- 1D
- -0.10%
- 1M
- 0.12%
- YTD
- 0.41%
- 6M
- 0.55%
- 1Y
- 3.10%
- 3Y*
- 4.22%
- 5Y*
- 1.85%
- 10Y*
- 1.61%
XONE vs. SPTS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF | 1.16% | 4.41% | 4.83% | 4.74% | 0.57% |
SPTS SPDR Portfolio Short Term Treasury ETF | 0.41% | 5.05% | 4.20% | 4.27% | 0.04% |
Correlation
The correlation between XONE and SPTS is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022 | 0.79 |
The correlation between XONE and SPTS has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.
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Return for Risk
XONE vs. SPTS — Risk / Return Rank
XONE
SPTS
XONE vs. SPTS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) 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.
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.
| XONE | SPTS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.19 | ||
| Sortino ratioReturn per unit of downside risk | +10.05 | ||
| Omega ratioGain probability vs. loss probability | 3.21 | 1.48 | +1.73 |
| Calmar ratioReturn relative to maximum drawdown | 22.71 | 3.70 | +19.01 |
| Martin ratioReturn relative to average drawdown | 121.24 | 14.46 | +106.78 |
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Drawdowns
XONE vs. SPTS - Drawdown Comparison
The maximum XONE drawdown since its inception was -0.40%, smaller than the maximum SPTS drawdown of -5.83%. Use the drawdown chart below to compare losses from any high point for XONE and SPTS.
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Drawdown Indicators
| XONE | SPTS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.40% | -5.83% | +5.43% |
Max Drawdown (1Y)Largest decline over 1 year | -0.16% | -0.84% | +0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -0.28% | -0.96% | +0.68% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.71% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.71% | — |
Current DrawdownCurrent decline from peak | -0.10% | -0.31% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -1.72% | +1.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.21% | -0.18% |
Volatility
XONE vs. SPTS - Volatility Comparison
The current volatility for BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) is 0.18%, while SPDR Portfolio Short Term Treasury ETF (SPTS) has a volatility of 0.46%. This indicates that XONE experiences smaller price fluctuations and is considered to be less risky than SPTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XONE | SPTS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.18% | 0.46% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 0.37% | 0.92% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.56% | 1.34% | -0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.86% | 1.99% | -1.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.86% | 1.71% | -0.85% |
XONE vs. SPTS - Expense Ratio Comparison
Both XONE and SPTS have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XONE vs. SPTS - Dividend Comparison
XONE's dividend yield for the trailing twelve months is around 4.06%, 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% |
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF | 4.06% | 4.33% | 5.21% | 4.46% | 1.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XONE and SPTS have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPTS has higher volatility (0.46%) compared to XONE (0.18%). In terms of maximum drawdown, XONE dropped -0.40% vs SPTS's -5.83%.
On 3-year performance, XONE leads with 4.51% vs 4.22% for SPTS. Both ETFs have the same 0.03% expense ratio. On volatility, XONE has been the lower-risk option at 0.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XONE has performed better with a 4.51% return vs 4.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XONE and SPTS have the same expense ratio: 0.03% per year.
XONE has the higher dividend yield at 4.06%, compared with 3.91% for SPTS.
XONE tracks Bloomberg US Treasury 1 Year Target Duration Index, while SPTS tracks Bloomberg 1-3 Year U.S. Treasury Index. They also come from different issuers: BondBloxx and State Street.
XONE currently has the higher Sharpe Ratio (6.52 vs 2.33), 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.
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