SPDR Bloomberg Barclays International Treasury Bond (BWX): Historical Returns

Data Source: from January 1994 to February 2024 (~30 years)
Consolidated Returns as of 29 February 2024
Category: Fixed Income
SPDR Bloomberg Barclays International Treasury Bond (BWX) ETF
ETF • LIVE PERFORMANCE (USD currency)
1.08%
February 2024

In the last 30 Years, the SPDR Bloomberg Barclays International Treasury Bond (BWX) ETF obtained a 3.25% compound annual return, with a 7.98% standard deviation.

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The ETF is related to the following investment themes:

  • Asset Class: Bond
  • Region: Developed Markets
  • Country: Broad Developed Markets
  • Bond - Duration: All-Term

Investment Returns as of Feb 29, 2024

The SPDR Bloomberg Barclays International Treasury Bond (BWX) ETF guaranteed the following returns.

Returns are calculated in USD, assuming:
  • no fees or capital gain taxes.
  • the reinvestment of dividends.
  • the actual US Inflation rates.
SPDR BLOOMBERG BARCLAYS INTERNATIONAL TREASURY BOND (BWX) ETF
Consolidated returns as of 29 February 2024
Swipe left to see all data
  Chg (%) Return (%) Return (%) as of Feb 29, 2024
  1 Day Time ET(*) Mar 2024 1M 6M 1Y 5Y 10Y 30Y MAX
(~30Y)
SPDR Bloomberg Barclays International Treasury Bond (BWX) ETF n.a. n.a. -1.08 1.01 1.95 -3.16 -1.94 3.25 3.16
US Inflation Adjusted return -1.08 -0.13 -0.74 -6.98 -4.58 0.71 0.63
Returns over 1 year are annualized | Available data source: since Jan 1994
(*) Eastern Time (ET - America/New York)
US Inflation is updated to Jan 2024. Pending updates, the monthly inflation is set at 0% for the subsequent periods. Current inflation (annualized) is 1Y: 2.71% , 5Y: 4.10% , 10Y: 2.77% , 30Y: 2.52%

In 2023, the SPDR Bloomberg Barclays International Treasury Bond (BWX) ETF granted a 1.54% dividend yield. If you are interested in getting periodic income, please refer to the SPDR Bloomberg Barclays International Treasury Bond (BWX) ETF: Dividend Yield page.

Capital Growth as of Feb 29, 2024

An investment of 1$, since March 1994, now would be worth 2.61$, with a total return of 161.03% (3.25% annualized).

The Inflation Adjusted Capital now would be 1.24$, with a net total return of 23.65% (0.71% annualized).
An investment of 1$, since January 1994, now would be worth 2.56$, with a total return of 155.53% (3.16% annualized).

The Inflation Adjusted Capital now would be 1.21$, with a net total return of 20.72% (0.63% annualized).

Investment Metrics as of Feb 29, 2024

Metrics of SPDR Bloomberg Barclays International Treasury Bond (BWX) ETF, updated as of 29 February 2024.

Metrics are calculated based on monthly returns, assuming:
  • no fees or capital gain taxes.
  • the reinvestment of dividends.
  • the actual US Inflation rates.
SPDR BLOOMBERG BARCLAYS INTERNATIONAL TREASURY BOND (BWX) ETF
Advanced Metrics
Data Source: 1 January 1994 - 29 February 2024 (~30 years)
Swipe left to see all data
Metrics as of Feb 29, 2024
1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
(~30Y)
Investment Return (%) -1.08 0.61 1.01 1.95 -8.41 -3.16 -1.94 1.03 3.25 3.16
Infl. Adjusted Return (%) details -1.08 0.07 -0.13 -0.74 -13.20 -6.98 -4.58 -1.50 0.71 0.63
US Inflation (%) 0.00 0.54 1.14 2.71 5.52 4.10 2.77 2.56 2.52 2.52
Pending updates, the monthly inflation after Jan 2024 is set at 0%. Returns / Inflation rates over 1 year are annualized.
DRAWDOWN
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Deepest Drawdown Depth (%) -8.78 -29.42 -32.18 -32.18 -32.18 -32.18 -32.18
Start to Recovery (# months) details 9 36* 38* 38* 38* 38* 38*
Start (yyyy mm) 2023 04 2021 03 2021 01 2021 01 2021 01 2021 01 2021 01
Start to Bottom (# months) 7 19 21 21 21 21 21
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2022 09 2022 09 2022 09
Bottom to End (# months) 2 17 17 17 17 17 17
End (yyyy mm) 2023 12 - - - - - -
Longest Drawdown Depth (%)
same as
deepest

same as
deepest

same as
deepest
-15.08 -15.08 -15.08 -15.08
Start to Recovery (# months) details 73 73 73 73
Start (yyyy mm) 2023 04 2021 03 2021 01 2014 07 2014 07 2014 07 2014 07
Start to Bottom (# months) 7 19 21 17 17 17 17
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2015 11 2015 11 2015 11 2015 11
Bottom to End (# months) 2 17 17 56 56 56 56
End (yyyy mm) 2023 12 - - 2020 07 2020 07 2020 07 2020 07
Longest negative period (# months) details 11* 36* 60* 120* 193 193 193
Period Start (yyyy mm) 2023 04 2021 03 2019 03 2014 03 2007 10 2007 10 2007 10
Period End (yyyy mm) 2024 02 2024 02 2024 02 2024 02 2023 10 2023 10 2023 10
Annualized Return (%) -2.87 -8.41 -3.16 -1.94 -0.04 -0.04 -0.04
Drawdowns / Negative periods marked with * are in progress
Deepest Drawdown Depth (%) -10.49 -38.30 -41.07 -42.34 -43.26 -43.26 -43.26
Start to Recovery (# months) details 11* 36* 38* 116* 150* 150* 150*
Start (yyyy mm) 2023 04 2021 03 2021 01 2014 07 2011 09 2011 09 2011 09
Start to Bottom (# months) 7 32 34 112 146 146 146
Bottom (yyyy mm) 2023 10 2023 10 2023 10 2023 10 2023 10 2023 10 2023 10
Bottom to End (# months) 4 4 4 4 4 4 4
End (yyyy mm) - - - - - - -
Longest Drawdown Depth (%)
same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest
Start to Recovery (# months) details
Start (yyyy mm) 2023 04 2021 03 2021 01 2014 07 2011 09 2011 09 2011 09
Start to Bottom (# months) 7 32 34 112 146 146 146
Bottom (yyyy mm) 2023 10 2023 10 2023 10 2023 10 2023 10 2023 10 2023 10
Bottom to End (# months) 4 4 4 4 4 4 4
End (yyyy mm) - - - - - - -
Longest negative period (# months) details 12* 36* 60* 120* 240* 334 334
Period Start (yyyy mm) 2023 03 2021 03 2019 03 2014 03 2004 03 1996 01 1996 01
Period End (yyyy mm) 2024 02 2024 02 2024 02 2024 02 2024 02 2023 10 2023 10
Annualized Return (%) -0.74 -13.20 -6.98 -4.58 -1.50 -0.03 -0.03
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
1Y 3Y 5Y 10Y 20Y 30Y MAX
Standard Deviation (%) 11.25 11.66 10.02 8.54 8.60 7.98 7.98
Sharpe Ratio -0.29 -0.92 -0.50 -0.36 -0.04 0.12 -0.10
Sortino Ratio -0.46 -1.40 -0.71 -0.51 -0.05 0.17 -0.14
Ulcer Index 3.90 18.69 16.66 13.34 9.94 8.35 8.34
Ratio: Return / Standard Deviation 0.17 -0.72 -0.32 -0.23 0.12 0.41 0.40
Ratio: Return / Deepest Drawdown 0.22 -0.29 -0.10 -0.06 0.03 0.10 0.10
% Positive Months details 41% 36% 48% 50% 55% 58% 58%
Positive Months 5 13 29 61 134 210 211
Negative Months 7 23 31 59 106 150 151
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Best 10 Years Return (%) - Annualized -1.94 4.51 8.92 8.92
Worst 10 Years Return (%) - Annualized -2.87 -2.87 -2.87
Best 10 Years Return (%) - Annualized -4.58 2.16 6.28 6.28
Worst 10 Years Return (%) - Annualized -5.26 -5.26 -5.26
ROLLING PERIODS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Over the latest 30Y
Best Rolling Return (%) - Annualized 26.89 16.43 10.77 8.92 6.17 3.25
Worst Rolling Return (%) - Annualized -26.70 -10.23 -4.77 -2.87 1.01
% Positive Periods 68% 81% 80% 89% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 82.11 24.38 17.49 8.53 5.22 5.10
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - - 0.98
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 23.45 13.46 8.03 6.28 3.69 0.71
Worst Rolling Return (%) - Annualized -32.26 -15.09 -8.22 -5.26 -1.53
% Positive Periods 58% 65% 64% 76% 82% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 82.11 24.38 17.49 8.53 5.22 5.10
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - - 0.98
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Over all the available data source (Jan 1994 - Feb 2024)
Best Rolling Return (%) - Annualized 26.89 16.43 10.77 8.92 6.17 3.32
Worst Rolling Return (%) - Annualized -26.70 -10.23 -4.77 -2.87 1.01 3.21
% Positive Periods 68% 81% 80% 89% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 82.11 24.38 17.49 8.53 5.22 4.96
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - - 0.89
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 23.45 13.46 8.03 6.28 3.69 0.78
Worst Rolling Return (%) - Annualized -32.26 -15.09 -8.22 -5.26 -1.53 0.66
% Positive Periods 58% 65% 65% 76% 82% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 82.11 24.38 17.49 8.53 5.22 4.96
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - - 0.89
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the portfolio.
  • Deepest/Longest Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. The deepest (or maximum) drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained. The longest drawdown is the period observed from a peak to the subsequent peak with the greatest duration.
  • Longest negative period: it's the maximum period for which an overall negative return has been observed.
  • Standard Deviation: it's a measure of the dispersion of returns around the mean.
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the portfolio. It's calculated by dividing the excess return of the portfolio over the risk-free rate by the portfolio standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the portfolio. It's a modification of the Sharpe Ratio (same formula but the denominator is the portfolio downside standard deviation).
  • Ulcer Index: it's a measure of downside risk that quantifies the depth and duration of drawdowns in an investment portfolio.
  • Best/Worst 10Y returns: the best and the worst 10-year return over a time frame.
  • Rolling Returns: N-year returns over a time frame, calculated over all the available data source (best, worst, % of positive returns). Each rolling period, longer than the longest negative period, yielded a non-negative minimum return.
  • Safe Withdrawal Rate (SWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, without the portfolio running out of money in any case (money amount withdrawal).
    For instance: Your initial invested capital is 100.000$; withdrawal rate (annualized) is 4%. This means that, in the first month, you will withdraw 100.000 * 4% * 1/12 = 333.33$. The second month, you’ll withdraw 333.33$ plus the inflation monthly rate. You’ll continue adjusting your withdraw monthly for inflation.
  • Perpetual Withdrawal Rate (PWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, preserving the original invested capital, adjusted for inflation too.

Correlations as of Feb 29, 2024

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1. If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.
Asset correlations are calculated based on monthly returns.

Monthly correlations of SPDR Bloomberg Barclays International Treasury Bond (BWX) ETF vs the main Asset Classes, over different timeframes. Columns are sortable (click on table header to sort).

SPDR BLOOMBERG BARCLAYS INTERNATIONAL TREASURY BOND (BWX) ETF
Monthly correlations as of 29 February 2024
Swipe left to see all data
Correlation vs BWX
Asset Class 1 Year 5 Years 10 Years 30 Years Since
Jan 1994
VTI
US Total Stock Market
0.75
0.61
0.47
0.31
0.31
SPY
US Large Cap
0.76
0.61
0.47
0.32
0.32
IJR
US Small Cap
0.63
0.53
0.36
0.24
0.24
VNQ
US REITs
0.81
0.63
0.51
0.38
0.38
QQQ
US Technology
0.72
0.62
0.46
0.20
0.20
PFF
Preferred Stocks
0.45
0.62
0.54
0.41
0.41
EFA
EAFE Stocks
0.85
0.72
0.59
0.49
0.49
VT
World All Countries
0.81
0.68
0.56
0.42
0.42
EEM
Emerging Markets
0.78
0.71
0.67
0.40
0.41
VGK
Europe
0.85
0.70
0.58
0.49
0.49
VPL
Pacific
0.85
0.72
0.59
0.43
0.43
FLLA
Latin America
0.75
0.47
0.50
0.31
0.31
BND
US Total Bond Market
0.93
0.89
0.79
0.68
0.68
TLT
Long Term Treasuries
0.93
0.68
0.59
0.47
0.47
BIL
US Cash
0.13
0.10
0.07
0.06
0.06
TIP
TIPS
0.92
0.80
0.72
0.62
0.62
LQD
Invest. Grade Bonds
0.94
0.90
0.81
0.69
0.69
HYG
High Yield Bonds
0.92
0.73
0.62
0.48
0.48
CWB
US Convertible Bonds
0.72
0.58
0.49
0.32
0.32
BNDX
International Bonds
0.93
0.81
0.70
0.59
0.59
EMB
Emerg. Market Bonds
0.93
0.81
0.75
0.51
0.51
GLD
Gold
0.55
0.60
0.59
0.46
0.46
DBC
Commodities
-0.05
0.14
0.17
0.31
0.31

If you want to learn more about historical correlations, you can find out here how the main asset class are correlated to each other.

Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

SPDR BLOOMBERG BARCLAYS INTERNATIONAL TREASURY BOND (BWX) ETF
Drawdown periods
Drawdown periods - Inflation Adjusted
Data Source: 1 March 1994 - 29 February 2024 (30 Years)
Data Source: 1 January 1994 - 29 February 2024 (~30 years)
Inflation Adjusted:
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-32.18% Jan 2021 Sep 2022 21 in progress 17 38 20.82
-15.08% Jul 2014 Nov 2015 17 Jul 2020 56 73 7.90
-13.65% Apr 2008 Oct 2008 7 Jul 2009 9 16 7.49
-11.17% Dec 2009 May 2010 6 Sep 2010 4 10 6.57
-8.29% Feb 1999 Oct 2000 21 Oct 2001 12 33 5.66
-7.87% Jan 2005 Nov 2005 11 Nov 2006 12 23 3.98
-7.10% Oct 2012 Jun 2013 9 Apr 2014 10 19 3.33
-6.84% Nov 2010 Nov 2010 1 Apr 2011 5 6 3.41
-5.60% Dec 1996 Apr 1997 5 Mar 1998 11 16 2.61
-5.30% Nov 2001 Jan 2002 3 May 2002 4 7 3.50
-5.04% Sep 2011 Nov 2011 3 Sep 2012 10 13 2.85
-4.58% Jun 2003 Aug 2003 3 Sep 2003 1 4 2.95
-3.86% Apr 2004 Apr 2004 1 Sep 2004 5 6 2.48
-3.29% Dec 2006 Jun 2007 7 Sep 2007 3 10 1.74
-1.86% Mar 1994 May 1994 3 Oct 1994 5 8 0.99
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 77 4.7 Months 21.33%
 
DD = 0% 21.33%
 
0% < DD <= -5% 156 2.3 Months 43.21%
 
DD <= -5% 64.54%
 
-5% < DD <= -10% 78 4.6 Months 21.61%
 
DD <= -10% 86.15%
 
-10% < DD <= -15% 25 14.4 Months 6.93%
 
DD <= -15% 93.07%
 
-15% < DD <= -20% 2 180.5 Months 0.55%
 
DD <= -20% 93.63%
 
-20% < DD <= -25% 8 45.1 Months 2.22%
 
DD <= -25% 95.84%
 
-25% < DD <= -30% 12 30.1 Months 3.32%
 
DD <= -30% 99.17%
 
-30% < DD <= -35% 3 120.3 Months 0.83%
 
DD <= -35% 100.00%
 
-35% < DD <= -40% 0 - 0.00%
 
DD <= -40% 100.00%
 
-40% < DD <= -45% 0 - 0.00%
 
DD <= -45% 100.00%
 
-45% < DD <= -50% 0 - 0.00%
 
DD <= -50% 100.00%
 
-50% < DD <= -55% 0 - 0.00%
 
DD <= -55% 100.00%
 
-55% < DD <= -60% 0 - 0.00%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-43.26% Sep 2011 Oct 2023 146 in progress 4 150 17.94
-15.06% Apr 2008 Oct 2008 7 Aug 2009 10 17 7.76
-14.72% Feb 1999 Jun 2001 29 Jul 2002 13 42 9.07
-11.19% Dec 2009 May 2010 6 Oct 2010 5 11 6.34
-10.84% Jan 2005 Nov 2005 11 Feb 2008 27 38 6.61
-7.08% Nov 2010 Nov 2010 1 Apr 2011 5 6 4.03
-6.31% Dec 1996 Apr 1997 5 Jul 1998 15 20 3.13
-5.41% Jun 2003 Aug 2003 3 Nov 2003 3 6 2.84
-4.24% Apr 2004 Jul 2004 4 Oct 2004 3 7 2.88
-2.39% Mar 1994 May 1994 3 Feb 1995 9 12 1.55
-2.30% Jan 1996 May 1996 5 Jul 1996 2 7 1.57
-1.68% May 2011 Jun 2011 2 Aug 2011 2 4 1.07
-1.63% Aug 1995 Aug 1995 1 Oct 1995 2 3 0.83
-0.82% Oct 1998 Nov 1998 2 Dec 1998 1 3 0.41
-0.51% Oct 2002 Oct 2002 1 Nov 2002 1 2 0.30
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 43 8.4 Months 11.91%
 
DD = 0% 11.91%
 
0% < DD <= -5% 112 3.2 Months 31.02%
 
DD <= -5% 42.94%
 
-5% < DD <= -10% 96 3.8 Months 26.59%
 
DD <= -10% 69.53%
 
-10% < DD <= -15% 68 5.3 Months 18.84%
 
DD <= -15% 88.37%
 
-15% < DD <= -20% 16 22.6 Months 4.43%
 
DD <= -20% 92.80%
 
-20% < DD <= -25% 2 180.5 Months 0.55%
 
DD <= -25% 93.35%
 
-25% < DD <= -30% 1 361.0 Months 0.28%
 
DD <= -30% 93.63%
 
-30% < DD <= -35% 3 120.3 Months 0.83%
 
DD <= -35% 94.46%
 
-35% < DD <= -40% 16 22.6 Months 4.43%
 
DD <= -40% 98.89%
 
-40% < DD <= -45% 4 90.3 Months 1.11%
 
DD <= -45% 100.00%
 
-45% < DD <= -50% 0 - 0.00%
 
DD <= -50% 100.00%
 
-50% < DD <= -55% 0 - 0.00%
 
DD <= -55% 100.00%
 
-55% < DD <= -60% 0 - 0.00%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-32.18% Jan 2021 Sep 2022 21 in progress 17 38 20.82
-15.08% Jul 2014 Nov 2015 17 Jul 2020 56 73 7.90
-13.65% Apr 2008 Oct 2008 7 Jul 2009 9 16 7.49
-11.17% Dec 2009 May 2010 6 Sep 2010 4 10 6.57
-8.29% Feb 1999 Oct 2000 21 Oct 2001 12 33 5.66
-7.87% Jan 2005 Nov 2005 11 Nov 2006 12 23 3.98
-7.10% Oct 2012 Jun 2013 9 Apr 2014 10 19 3.33
-6.84% Nov 2010 Nov 2010 1 Apr 2011 5 6 3.41
-5.60% Dec 1996 Apr 1997 5 Mar 1998 11 16 2.61
-5.30% Nov 2001 Jan 2002 3 May 2002 4 7 3.50
-5.04% Sep 2011 Nov 2011 3 Sep 2012 10 13 2.85
-4.58% Jun 2003 Aug 2003 3 Sep 2003 1 4 2.95
-4.17% Feb 1994 May 1994 4 Feb 1995 9 13 2.57
-3.86% Apr 2004 Apr 2004 1 Sep 2004 5 6 2.48
-3.29% Dec 2006 Jun 2007 7 Sep 2007 3 10 1.74
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 76 4.8 Months 20.94%
 
DD = 0% 20.94%
 
0% < DD <= -5% 159 2.3 Months 43.80%
 
DD <= -5% 64.74%
 
-5% < DD <= -10% 78 4.7 Months 21.49%
 
DD <= -10% 86.23%
 
-10% < DD <= -15% 25 14.5 Months 6.89%
 
DD <= -15% 93.11%
 
-15% < DD <= -20% 2 181.5 Months 0.55%
 
DD <= -20% 93.66%
 
-20% < DD <= -25% 8 45.4 Months 2.20%
 
DD <= -25% 95.87%
 
-25% < DD <= -30% 12 30.3 Months 3.31%
 
DD <= -30% 99.17%
 
-30% < DD <= -35% 3 121.0 Months 0.83%
 
DD <= -35% 100.00%
 
-35% < DD <= -40% 0 - 0.00%
 
DD <= -40% 100.00%
 
-40% < DD <= -45% 0 - 0.00%
 
DD <= -45% 100.00%
 
-45% < DD <= -50% 0 - 0.00%
 
DD <= -50% 100.00%
 
-50% < DD <= -55% 0 - 0.00%
 
DD <= -55% 100.00%
 
-55% < DD <= -60% 0 - 0.00%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-43.26% Sep 2011 Oct 2023 146 in progress 4 150 17.94
-15.06% Apr 2008 Oct 2008 7 Aug 2009 10 17 7.76
-14.72% Feb 1999 Jun 2001 29 Jul 2002 13 42 9.07
-11.19% Dec 2009 May 2010 6 Oct 2010 5 11 6.34
-10.84% Jan 2005 Nov 2005 11 Feb 2008 27 38 6.61
-7.08% Nov 2010 Nov 2010 1 Apr 2011 5 6 4.03
-6.31% Dec 1996 Apr 1997 5 Jul 1998 15 20 3.13
-5.41% Jun 2003 Aug 2003 3 Nov 2003 3 6 2.84
-4.95% Feb 1994 May 1994 4 Mar 1995 10 14 3.67
-4.24% Apr 2004 Jul 2004 4 Oct 2004 3 7 2.88
-2.30% Jan 1996 May 1996 5 Jul 1996 2 7 1.57
-1.68% May 2011 Jun 2011 2 Aug 2011 2 4 1.07
-1.63% Aug 1995 Aug 1995 1 Oct 1995 2 3 0.83
-0.82% Oct 1998 Nov 1998 2 Dec 1998 1 3 0.41
-0.51% Oct 2002 Oct 2002 1 Nov 2002 1 2 0.30
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 43 8.4 Months 11.85%
 
DD = 0% 11.85%
 
0% < DD <= -5% 114 3.2 Months 31.40%
 
DD <= -5% 43.25%
 
-5% < DD <= -10% 96 3.8 Months 26.45%
 
DD <= -10% 69.70%
 
-10% < DD <= -15% 68 5.3 Months 18.73%
 
DD <= -15% 88.43%
 
-15% < DD <= -20% 16 22.7 Months 4.41%
 
DD <= -20% 92.84%
 
-20% < DD <= -25% 2 181.5 Months 0.55%
 
DD <= -25% 93.39%
 
-25% < DD <= -30% 1 363.0 Months 0.28%
 
DD <= -30% 93.66%
 
-30% < DD <= -35% 3 121.0 Months 0.83%
 
DD <= -35% 94.49%
 
-35% < DD <= -40% 16 22.7 Months 4.41%
 
DD <= -40% 98.90%
 
-40% < DD <= -45% 4 90.8 Months 1.10%
 
DD <= -45% 100.00%
 
-45% < DD <= -50% 0 - 0.00%
 
DD <= -50% 100.00%
 
-50% < DD <= -55% 0 - 0.00%
 
DD <= -55% 100.00%
 
-55% < DD <= -60% 0 - 0.00%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 

Rolling Returns

( more details)

A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.

SPDR BLOOMBERG BARCLAYS INTERNATIONAL TREASURY BOND (BWX) ETF
Annualized Rolling Returns
Annualized Rolling Returns - Inflation Adjusted
Data Source: 1 March 1994 - 29 February 2024 (30 Years)
Data Source: 1 January 1994 - 29 February 2024 (~30 years)
Inflation Adjusted:
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -26.70 10/2021
09/2022
0.73$ -3.67 0.96$ 3.90 1.03$ 12.30 1.12$ 26.89 04/2002
03/2003
1.26$ 1.95 31.23%
2Y -15.69 11/2020
10/2022
0.71$ -2.01 0.96$ 3.27 1.06$ 9.36 1.19$ 20.71 04/2002
03/2004
1.45$ -8.41 23.74%
3Y -10.23 11/2020
10/2023
0.72$ -1.20 0.96$ 3.45 1.10$ 8.67 1.28$ 16.43 01/2002
12/2004
1.57$ -8.41 18.15%
5Y -4.77 10/2017
09/2022
0.78$ -0.56 0.97$ 3.78 1.20$ 7.71 1.44$ 10.77 05/2000
04/2005
1.66$ -3.16 19.93%
7Y -3.31 10/2016
09/2023
0.78$ 0.12 1.00$ 4.53 1.36$ 7.17 1.62$ 9.84 04/2001
03/2008
1.92$ -1.39 13.72%
10Y -2.87 10/2012
09/2022
0.74$ 0.96 1.10$ 4.29 1.52$ 7.10 1.98$ 8.92 01/1995
12/2004
2.34$ -1.94 10.37%
15Y -0.33 03/2008
02/2023
0.95$ 2.06 1.35$ 4.57 1.95$ 5.95 2.37$ 7.48 12/1994
11/2009
2.95$ 0.56 4.97%
20Y 1.01 11/2003
10/2023
1.22$ 2.08 1.50$ 4.13 2.24$ 4.67 2.49$ 6.17 07/1994
06/2014
3.30$ 1.03 0.00%
30Y 3.25 03/1994
02/2024
2.61$ 3.25 2.61$ 3.25 2.61$ 3.25 2.61$ 3.25 03/1994
02/2024
2.61$ 3.25 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
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Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -32.26 10/2021
09/2022
0.67$ -5.96 0.94$ 2.04 1.02$ 9.38 1.09$ 23.45 06/2002
05/2003
1.23$ -0.74 41.55%
2Y -21.20 11/2020
10/2022
0.62$ -3.97 0.92$ 1.15 1.02$ 6.73 1.13$ 17.91 04/2002
03/2004
1.39$ -12.20 43.03%
3Y -15.09 11/2020
10/2023
0.61$ -2.75 0.91$ 0.98 1.02$ 6.01 1.19$ 13.46 01/2002
12/2004
1.46$ -13.20 34.77%
5Y -8.22 10/2017
09/2022
0.65$ -1.97 0.90$ 1.62 1.08$ 5.03 1.27$ 8.03 05/2000
04/2005
1.47$ -6.98 35.22%
7Y -6.60 10/2016
09/2023
0.61$ -1.51 0.89$ 2.24 1.16$ 4.52 1.36$ 6.86 04/2001
03/2008
1.59$ -4.69 33.94%
10Y -5.26 10/2012
09/2022
0.58$ -0.82 0.92$ 1.87 1.20$ 4.58 1.56$ 6.28 01/1995
12/2004
1.83$ -4.58 23.65%
15Y -2.62 03/2008
02/2023
0.67$ -0.11 0.98$ 2.36 1.41$ 3.44 1.66$ 4.85 12/1994
11/2009
2.03$ -1.93 15.47%
20Y -1.53 11/2003
10/2023
0.73$ -0.43 0.91$ 1.95 1.47$ 2.46 1.62$ 3.69 07/1994
06/2014
2.06$ -1.50 17.36%
30Y 0.71 03/1994
02/2024
1.23$ 0.71 1.23$ 0.71 1.23$ 0.71 1.23$ 0.71 03/1994
02/2024
1.23$ 0.71 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -26.70 10/2021
09/2022
0.73$ -3.66 0.96$ 3.90 1.03$ 12.09 1.12$ 26.89 04/2002
03/2003
1.26$ 1.95 31.62%
2Y -15.69 11/2020
10/2022
0.71$ -2.01 0.96$ 3.30 1.06$ 9.81 1.20$ 20.71 04/2002
03/2004
1.45$ -8.41 23.60%
3Y -10.23 11/2020
10/2023
0.72$ -1.20 0.96$ 3.45 1.10$ 9.00 1.29$ 16.43 01/2002
12/2004
1.57$ -8.41 18.04%
5Y -4.77 10/2017
09/2022
0.78$ -0.56 0.97$ 3.80 1.20$ 7.88 1.46$ 10.77 05/2000
04/2005
1.66$ -3.16 19.80%
7Y -3.31 10/2016
09/2023
0.78$ 0.12 1.00$ 4.59 1.36$ 7.17 1.62$ 9.84 04/2001
03/2008
1.92$ -1.39 13.62%
10Y -2.87 10/2012
09/2022
0.74$ 0.96 1.10$ 4.30 1.52$ 7.16 1.99$ 8.92 01/1995
12/2004
2.34$ -1.94 10.29%
15Y -0.33 03/2008
02/2023
0.95$ 2.06 1.35$ 4.57 1.95$ 6.07 2.41$ 7.48 12/1994
11/2009
2.95$ 0.56 4.92%
20Y 1.01 11/2003
10/2023
1.22$ 2.08 1.50$ 4.13 2.24$ 4.70 2.50$ 6.17 07/1994
06/2014
3.30$ 1.03 0.00%
30Y 3.21 02/1994
01/2024
2.57$ 3.21 2.57$ 3.25 2.61$ 3.32 2.66$ 3.32 01/1994
12/2023
2.66$ 3.25 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -32.26 10/2021
09/2022
0.67$ -5.95 0.94$ 1.99 1.01$ 9.28 1.09$ 23.45 06/2002
05/2003
1.23$ -0.74 41.88%
2Y -21.20 11/2020
10/2022
0.62$ -3.97 0.92$ 1.15 1.02$ 6.87 1.14$ 17.91 04/2002
03/2004
1.39$ -12.20 42.77%
3Y -15.09 11/2020
10/2023
0.61$ -2.75 0.91$ 0.98 1.02$ 6.02 1.19$ 13.46 01/2002
12/2004
1.46$ -13.20 34.56%
5Y -8.22 10/2017
09/2022
0.65$ -1.97 0.90$ 1.62 1.08$ 5.16 1.28$ 8.03 05/2000
04/2005
1.47$ -6.98 34.98%
7Y -6.60 10/2016
09/2023
0.61$ -1.51 0.89$ 2.25 1.16$ 4.52 1.36$ 6.86 04/2001
03/2008
1.59$ -4.69 33.69%
10Y -5.26 10/2012
09/2022
0.58$ -0.82 0.92$ 1.87 1.20$ 4.65 1.57$ 6.28 01/1995
12/2004
1.83$ -4.58 23.46%
15Y -2.62 03/2008
02/2023
0.67$ -0.11 0.98$ 2.38 1.42$ 3.49 1.67$ 4.85 12/1994
11/2009
2.03$ -1.93 15.30%
20Y -1.53 11/2003
10/2023
0.73$ -0.43 0.91$ 1.96 1.47$ 2.50 1.63$ 3.69 07/1994
06/2014
2.06$ -1.50 17.07%
30Y 0.66 02/1994
01/2024
1.21$ 0.66 1.21$ 0.71 1.23$ 0.78 1.26$ 0.78 01/1994
12/2023
1.26$ 0.71 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods

If you need a deeper detail about rolling returns, please refer to the SPDR Bloomberg Barclays International Treasury Bond (BWX) ETF: Rolling Returns page.

Seasonality

In which months is it better to invest in SPDR Bloomberg Barclays International Treasury Bond (BWX) ETF?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.
For further information about the seasonality, check the Asset Class Seasonality page.
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
-0.59
40%
-1.91
20%
-1.03
40%
-0.91
40%
0.17
80%
-0.06
60%
1.37
80%
-1.34
40%
-2.99
0%
0.05
60%
2.85
60%
1.67
60%
Best 3.6
2023
0.0
2020
4.7
2023
1.7
2021
1.1
2019
3.4
2019
3.7
2020
1.9
2019
-1.0
2019
1.0
2020
8.1
2022
4.9
2023
Worst -3.1
2024
-4.7
2023
-4.2
2022
-7.0
2022
-2.7
2023
-4.6
2022
-1.3
2019
-5.6
2022
-6.3
2022
-1.4
2023
-1.5
2019
-0.2
2021
Monthly Seasonality over the period Feb 1994 - Feb 2024
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.16
60%
-0.89
30%
0.05
60%
-0.15
60%
-0.50
60%
0.37
60%
0.96
70%
-0.77
40%
-2.04
20%
-0.62
40%
0.77
50%
1.06
60%
Best 3.6
2023
3.3
2016
4.7
2023
2.0
2015
1.9
2017
3.8
2016
3.7
2020
1.9
2019
1.0
2016
1.0
2020
8.1
2022
4.9
2023
Worst -3.1
2024
-4.7
2023
-4.2
2022
-7.0
2022
-3.2
2015
-4.6
2022
-1.4
2014
-5.6
2022
-6.3
2022
-4.2
2016
-5.7
2016
-1.1
2014
Monthly Seasonality over the period Feb 1994 - Feb 2024
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
-0.12
61%
-0.22
55%
0.30
53%
0.35
67%
-0.21
47%
0.30
57%
1.16
73%
0.01
50%
0.22
60%
0.15
57%
0.41
53%
1.11
67%
Best 3.6
2023
3.3
2016
4.8
2009
4.9
2011
5.4
2009
4.6
2002
6.1
2010
4.0
2001
5.8
2003
3.3
2004
8.1
2022
8.6
2008
Worst -6.7
2009
-4.7
2023
-4.2
2022
-7.0
2022
-4.3
2013
-4.6
2022
-3.2
2003
-5.6
2022
-6.3
2022
-5.0
2008
-6.8
2010
-5.3
2009
Monthly Seasonality over the period Feb 1994 - Feb 2024

Monthly Returns

This section provides a visual/tabular representation of the performance variability in the SPDR Bloomberg Barclays International Treasury Bond (BWX) ETF over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

SPDR BLOOMBERG BARCLAYS INTERNATIONAL TREASURY BOND (BWX) ETF
Monthly Returns Distribution
Data Source: 1 March 1994 - 29 February 2024 (30 Years)
Data Source: 1 January 1994 - 29 February 2024 (~30 years)
210 Positive Months (58%) - 150 Negative Months (42%)
211 Positive Months (58%) - 151 Negative Months (42%)
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(Scroll down to see all data)
Investment Returns, up to December 2007, have been derived using the historical series of equivalent ETFs / Assets.
You can find additional information on extended Data Sources here.

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