SPTL vs SPY
State Street SPDR Portfolio Long Term Treasury ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, SPTL or SPY?
Long Term Government Bond against Large Cap Blend.
SPTL has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SPTL | SPY |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.09% |
| AUM | $11.0B | $804.7B |
| Dividend Yield | 4.34% | 0.98% |
| Holdings | 100 | 505 |
| YTD Return | -3.85% | +11.52%Best |
| 1Y Return | -4.88% | +17.48%Best |
| 3Y Return (annualized) | +0.27% | +20.62%Best |
| 5Y Return (annualized) | -7.22% | +12.73%Best |
| Volatility (annualized) | 12.6%Best | 15.6% |
| Max Drawdown | -46.9%Best | -56.5% |
| $10,000 over 5 years | $6,875 | $18,205Best |
| Fund Family | State Street Investment Management | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Long Term Government Bond | Large Cap Blend |
| Inception | May 23, 2007 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: May 30, 2007 to Sep 10, 2026 (19.3 years).
SPTL vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 19.3 years both funds cover.
SPTL vs SPY Performance
State Street SPDR Portfolio Long Term Treasury ETF (SPTL) is an ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year SPTL returned -4.88% while SPY returned +17.48%. Year to date, SPTL is down 3.85% versus a gain of 11.52% for SPY.
Over three years, SPTL compounded at +0.27% per year against +20.62% for SPY; over five years the annualized figures are -7.22% and +12.73% respectively. Across the full 19-year window we track, SPY has the edge at +9.05% annualized vs +0.83%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.6% compared with 12.6% for SPTL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -46.9% for SPTL and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.06. They move largely independently of each other.
Fees and Cost Over Time
SPTL charges 0.03% per year while SPY charges 0.09%. On a $10,000 position that is $3 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, SPTL currently yields 4.34% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 23 holdings in SPTL and 504 in SPY, totalling 29.0% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 23 positions we hold weights for in SPTL and 504 in SPY, against full books of 100 and 505.
You are not choosing between two funds in isolation.
Whichever of SPTL and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPTL or SPY?
SPTL has an expense ratio of 0.03% while SPY charges 0.09%. SPTL is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, SPTL or SPY?
Over the past year SPTL returned -4.88% vs +17.48% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (19 years), SPTL annualized +0.83% vs +9.05% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPTL or SPY?
SPY has been the more volatile fund at 15.6% annualized versus 12.6% for SPTL. Worst drawdown: SPTL -46.9% vs SPY -56.5%.
Should I hold both SPTL and SPY?
SPTL and SPY have a monthly-return correlation of -0.06, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SPTL or SPY?
SPTL yields 4.34% while SPY yields 0.98%, so SPTL currently pays the higher dividend yield.
Is SPY better than SPTL?
SPTL has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.