ZTRE vs. SPTS
ZTRE (F/M 3-Year Investment Grade Corporate Bond ETF) and SPTS (SPDR Portfolio Short Term Treasury ETF) are both exchange-traded funds - ZTRE is a Short-Term Bond fund tracking the ICE 3-Year US Target Maturity Corporate Index - Benchmark TR Gross, while SPTS is a Government Bonds fund tracking the Bloomberg 1-3 Year U.S. Treasury Index. Both are passively managed. Over the past year, ZTRE returned 3.84% vs 3.10% for SPTS. A 0.78 correlation means they provide meaningful diversification when combined. ZTRE charges 0.15%/yr vs 0.03%/yr for SPTS.
Performance
ZTRE vs. SPTS - Performance Comparison
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Returns By Period
In the year-to-date period, ZTRE achieves a 0.47% return, which is significantly higher than SPTS's 0.41% return.
ZTRE
- 1D
- -0.04%
- 1M
- 0.25%
- YTD
- 0.47%
- 6M
- 0.83%
- 1Y
- 3.84%
- 3Y*
- —
- 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%
ZTRE vs. SPTS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZTRE F/M 3-Year Investment Grade Corporate Bond ETF | 0.47% | 6.60% | 0.32% |
SPTS SPDR Portfolio Short Term Treasury ETF | 0.41% | 5.05% | 0.51% |
Correlation
The correlation between ZTRE and SPTS is 0.83, 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 | 0.83 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024 | 0.78 |
The correlation between ZTRE and SPTS has been stable across timeframes, ranging from 0.78 to 0.83 - a consistent structural relationship.
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Return for Risk
ZTRE vs. SPTS — Risk / Return Rank
ZTRE
SPTS
ZTRE vs. SPTS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) 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.
| ZTRE | SPTS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.48 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.66 | 3.70 | -1.05 |
| Martin ratioReturn relative to average drawdown | 10.60 | 14.46 | -3.86 |
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Drawdowns
ZTRE vs. SPTS - Drawdown Comparison
The maximum ZTRE drawdown since its inception was -1.45%, smaller than the maximum SPTS drawdown of -5.83%. Use the drawdown chart below to compare losses from any high point for ZTRE and SPTS.
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Drawdown Indicators
| ZTRE | SPTS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.45% | -5.83% | +4.38% |
Max Drawdown (1Y)Largest decline over 1 year | -1.45% | -0.84% | -0.61% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.96% | — |
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 | -0.34% | -0.31% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -0.20% | -1.72% | +1.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 0.21% | +0.15% |
Volatility
ZTRE vs. SPTS - Volatility Comparison
F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) has a higher volatility of 0.59% compared to SPDR Portfolio Short Term Treasury ETF (SPTS) at 0.46%. This indicates that ZTRE'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.
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Volatility by Period
| ZTRE | SPTS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 0.46% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 1.48% | 0.92% | +0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.90% | 1.34% | +0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.11% | 1.99% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.11% | 1.71% | +0.40% |
ZTRE vs. SPTS - Expense Ratio Comparison
ZTRE has a 0.15% 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
ZTRE vs. SPTS - Dividend Comparison
ZTRE's dividend yield for the trailing twelve months is around 4.22%, 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% |
ZTRE F/M 3-Year Investment Grade Corporate Bond ETF | 4.22% | 4.37% | 0.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZTRE and SPTS have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZTRE has higher volatility (0.59%) compared to SPTS (0.46%). In terms of maximum drawdown, ZTRE dropped -1.45% vs SPTS's -5.83%.
On 1-year performance, ZTRE leads with 3.84% vs 3.10% for SPTS. On fees, SPTS is cheaper at 0.03% per year. On volatility, SPTS has been the lower-risk option at 0.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ZTRE has performed better with a 3.84% return vs 3.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTS is cheaper with a 0.03% expense ratio, compared with 0.15% for ZTRE.
ZTRE has the higher dividend yield at 4.22%, compared with 3.91% for SPTS.
ZTRE is categorized as Short-Term Bond, while SPTS is Government Bonds. ZTRE tracks ICE 3-Year US Target Maturity Corporate Index - Benchmark TR Gross, while SPTS tracks Bloomberg 1-3 Year U.S. Treasury Index. They also come from different issuers: F/m and State Street. Their fees differ too: 0.15% for ZTRE and 0.03% for SPTS.
SPTS currently has the higher Sharpe Ratio (2.33 vs 2.03), 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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