XTRE vs. SPTS

Last updated Jun 3, 2026

XTRE (BondBloxx Bloomberg Three Year Target Duration US Treasury ETF) and SPTS (SPDR Portfolio Short Term Treasury ETF) are both Government Bonds funds - XTRE tracks the Bloomberg US Treasury 3 Year Target Duration Index while SPTS tracks the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 3 years, XTRE returned 3.93%/yr vs 4.20%/yr for SPTS. Their correlation of 0.93 suggests significant overlap in exposure. XTRE charges 0.05%/yr vs 0.03%/yr for SPTS.

Performance

XTRE vs. SPTS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE) 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, XTRE achieves a 0.05% return, which is significantly lower than SPTS's 0.52% return.

XTRE

• 1D: -0.02%
• 1M: -0.18%
• YTD: 0.05%
• 6M: 0.28%
• 1Y: 3.27%
• 3Y*: 3.93%
• 5Y*: —
• 10Y*: —

SPTS

• 1D: 0.00%
• 1M: 0.05%
• YTD: 0.52%
• 6M: 0.88%
• 1Y: 3.52%
• 3Y*: 4.20%
• 5Y*: 1.84%
• 10Y*: 1.68%

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

XTRE vs. SPTS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XTRE BondBloxx Bloomberg Three Year Target Duration US Treasury ETF	0.05%	6.05%	3.05%	4.44%	0.03%
SPTS SPDR Portfolio Short Term Treasury ETF	0.52%	5.05%	4.20%	4.27%	0.14%

Correlation

The correlation between XTRE and SPTS is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022	0.93

The correlation between XTRE and SPTS has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

XTRE vs. SPTS — Risk / Return Rank

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

XTRE

XTRE Risk / Return Rank: 42
XTRE Sharpe Ratio Rank: 42
XTRE Sortino Ratio Rank: 47
XTRE Omega Ratio Rank: 42
XTRE Calmar Ratio Rank: 41
XTRE Martin Ratio Rank: 38

SPTS

SPTS Risk / Return Rank: 85
SPTS Sharpe Ratio Rank: 82
SPTS Sortino Ratio Rank: 92
SPTS Omega Ratio Rank: 89
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.

XTRE vs. SPTS - 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 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.

	XTRE	SPTS	Difference
Sharpe ratio Return per unit of total volatility	1.53	2.69	-1.16
Sortino ratio Return per unit of downside risk	2.38	4.58	-2.20
Omega ratio Gain probability vs. loss probability	1.28	1.57	-0.29
Calmar ratio Return relative to maximum drawdown	2.09	4.12	-2.02
Martin ratio Return relative to average drawdown	6.18	16.57	-10.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XTRE vs. SPTS - Sharpe Ratio Comparison

The current XTRE Sharpe Ratio is 1.53, which is lower than the SPTS Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of XTRE 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

	XTRE	SPTS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	2.69	-1.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.93	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.98	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.49	+0.61

Drawdowns

XTRE vs. SPTS - Drawdown Comparison

The maximum XTRE drawdown since its inception was -2.89%, smaller than the maximum SPTS drawdown of -5.83%. Use the drawdown chart below to compare losses from any high point for XTRE and SPTS.

Drawdown Indicators

	XTRE	SPTS	Difference
Max Drawdown Largest peak-to-trough decline	-2.89%	-5.83%	+2.94%
Max Drawdown (1Y) Largest decline over 1 year	-1.53%	-0.84%	-0.69%
Max Drawdown (3Y) Largest decline over 3 years	-2.00%	-0.96%	-1.04%
Max Drawdown (5Y) Largest decline over 5 years	—	-5.71%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-5.71%	—
Current Drawdown Current decline from peak	-1.03%	-0.21%	-0.82%
Average Drawdown Average peak-to-trough decline	-0.83%	-1.72%	+0.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	0.21%	+0.31%

Volatility

XTRE vs. SPTS - Volatility Comparison

BondBloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE) has a higher volatility of 0.66% compared to SPDR Portfolio Short Term Treasury ETF (SPTS) at 0.34%. This indicates that XTRE'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

	XTRE	SPTS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	0.34%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	1.50%	0.86%	+0.64%
Volatility (1Y) Calculated over the trailing 1-year period	2.14%	1.32%	+0.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.32%	1.98%	+1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.32%	1.72%	+1.60%

XTRE vs. SPTS - Expense Ratio Comparison

XTRE has a 0.05% expense ratio, which is higher than SPTS'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. SPTS - Dividend Comparison

XTRE's dividend yield for the trailing twelve months is around 4.00%, 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%
XTRE BondBloxx Bloomberg Three Year Target Duration US Treasury ETF	4.00%	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

Can I hold both XTRE and SPTS in my portfolio?

With a correlation of 0.90, XTRE and SPTS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, XTRE or SPTS?

XTRE has higher volatility (0.66%) compared to SPTS (0.34%). In terms of maximum drawdown, XTRE dropped -2.89% vs SPTS's -5.83%.

Which ETF is better, XTRE or SPTS?

On 3-year performance, SPTS leads with 4.20% vs 3.93% for XTRE. On fees, SPTS is cheaper at 0.03% per year. On volatility, SPTS has been the lower-risk option at 0.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XTRE or SPTS?

Over the 3-year period, SPTS has performed better with a 4.20% return vs 3.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTRE or SPTS?

SPTS is cheaper with a 0.03% expense ratio, compared with 0.05% for XTRE.

Which ETF pays a higher dividend yield, XTRE or SPTS?

XTRE has the higher dividend yield at 4.00%, compared with 3.91% for SPTS.

What is the main difference between XTRE and SPTS?

XTRE tracks Bloomberg US Treasury 3 Year Target Duration Index, while SPTS tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: BondBloxx and State Street. Their fees differ too: 0.05% for XTRE and 0.03% for SPTS.

Which has better risk-adjusted returns?

SPTS currently has the higher Sharpe Ratio (2.69 vs 1.53), 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.