XTRE vs. SPTL
XTRE (BondBloxx Bloomberg Three Year Target Duration US Treasury ETF) and SPTL (SPDR Portfolio Long Term Treasury ETF) are both Government Bonds funds - XTRE tracks the Bloomberg US Treasury 3 Year Target Duration Index while SPTL tracks the Bloomberg Long U.S. Treasury Index. Both are passively managed. Over the past 3 years, XTRE returned 4.11%/yr vs 0.23%/yr for SPTL. Their 0.75 correlation means they have sometimes moved together and sometimes differently. XTRE charges 0.05%/yr vs 0.03%/yr for SPTL.
Performance
XTRE vs. SPTL - Performance Comparison
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Returns By Period
In the year-to-date period, XTRE achieves a 0.30% return, which is significantly higher than SPTL's -2.10% return.
XTRE
- 1D
- 0.18%
- 1M
- 0.05%
- 6M
- 0.27%
- YTD
- 0.30%
- 1Y
- 2.09%
- 3Y*
- 4.11%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.54%
SPTL
- 1D
- 0.84%
- 1M
- -2.33%
- 6M
- -1.93%
- YTD
- -2.10%
- 1Y
- -0.80%
- 3Y*
- 0.23%
- 5Y*
- -6.98%
- 10Y*
- -1.66%
- ALL TIME*
- 3.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $141.47M | $124.55M | $144.38M | |
| $3.52M | $3.03M | $2.76M |
XTRE vs. SPTL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XTRE BondBloxx Bloomberg Three Year Target Duration US Treasury ETF | 0.30% | 6.05% | 3.05% | 4.44% | 0.00% |
SPTL SPDR Portfolio Long Term Treasury ETF | -2.10% | 5.28% | -6.23% | 3.30% | -6.10% |
Correlation
The correlation between XTRE and SPTL is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022 | 0.75 |
The correlation between XTRE and SPTL has been stable across timeframes, ranging from 0.74 to 0.75 - a consistent structural relationship.
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Return for Risk
XTRE vs. SPTL — Risk / Return Rank
XTRE
SPTL
XTRE vs. SPTL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE) 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.
| XTRE | SPTL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.99 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | -0.11 | +1.49 |
| Martin ratioReturn relative to average drawdown | 3.16 | -0.25 | +3.41 |
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Drawdowns
XTRE vs. SPTL - Drawdown Comparison
The maximum XTRE drawdown since its inception was -2.89%, smaller than the maximum SPTL drawdown of -46.20%. Use the drawdown chart below to compare losses from any high point for XTRE and SPTL.
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Drawdown Indicators
| XTRE | SPTL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.89% | -46.20% | +43.31% |
Max Drawdown (1Y)Largest decline over 1 year | -1.53% | -7.09% | +5.56% |
Max Drawdown (3Y)Largest decline over 3 years | -2.00% | -13.39% | +11.39% |
Max Drawdown (5Y)Largest decline over 5 years | — | -41.02% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.20% | — |
Current DrawdownCurrent decline from peak | -0.77% | -37.96% | +37.19% |
Average DrawdownAverage peak-to-trough decline | -0.84% | -14.44% | +13.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 3.26% | -2.60% |
Volatility
XTRE vs. SPTL - Volatility Comparison
The current volatility for BondBloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE) is 0.55%, while SPDR Portfolio Long Term Treasury ETF (SPTL) has a volatility of 2.52%. This indicates that XTRE experiences smaller price fluctuations and is considered to be less risky than SPTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XTRE | SPTL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.55% | 2.52% | -1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 1.67% | 6.44% | -4.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.04% | 8.46% | -6.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.28% | 14.51% | -11.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.28% | 13.88% | -10.60% |
XTRE vs. SPTL - Expense Ratio Comparison
XTRE has a 0.05% expense ratio, which is higher than SPTL's 0.03% 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
XTRE vs. SPTL - Dividend Comparison
XTRE's dividend yield for the trailing twelve months is around 4.02%, less than SPTL's 4.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPTL SPDR Portfolio Long Term Treasury ETF | 4.32% | 4.12% | 4.03% | 3.24% | 2.75% | 1.68% | 1.71% | 2.45% | 2.69% | 2.53% | 2.56% | 2.60% |
XTRE BondBloxx Bloomberg Three Year Target Duration US Treasury ETF | 4.02% | 3.85% | 4.19% | 3.97% | 1.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XTRE and SPTL 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.
SPTL has higher volatility (2.52%) compared to XTRE (0.55%). In terms of maximum drawdown, XTRE dropped -2.89% vs SPTL's -46.20%.
On 3-year performance, XTRE leads with 4.11% vs 0.23% for SPTL. On fees, SPTL is cheaper at 0.03% per year. On volatility, XTRE has been the lower-risk option at 0.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XTRE has performed better with a 4.11% return vs 0.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTL is cheaper with a 0.03% expense ratio, compared with 0.05% for XTRE.
SPTL has the higher dividend yield at 4.32%, compared with 4.02% for XTRE.
XTRE tracks Bloomberg US Treasury 3 Year Target Duration Index, while SPTL tracks Bloomberg Long U.S. Treasury Index. They also come from different issuers: BondBloxx and State Street. Their fees differ too: 0.05% for XTRE and 0.03% for SPTL.
XTRE currently has the higher Sharpe Ratio (1.03 vs -0.09), 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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