AAA vs. BIL
Compare and contrast key facts about AAF First Priority CLO Bond ETF (AAA) and SPDR Barclays 1-3 Month T-Bill ETF (BIL).
AAA and BIL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AAA is an actively managed fund by Alternative Access Funds LLC. It was launched on Sep 9, 2020. BIL is a passively managed fund by State Street that tracks the performance of the Barclays Capital U.S. 1-3 Month Treasury Bill Index. It was launched on May 25, 2007.
Performance
AAA vs. BIL - Performance Comparison
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AAA vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
AAA AAF First Priority CLO Bond ETF | 0.88% | 4.92% | 6.85% | 8.94% | 0.15% | 0.86% | 0.32% |
BIL SPDR Barclays 1-3 Month T-Bill ETF | 0.85% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | -0.01% |
Returns By Period
The year-to-date returns for both stocks are quite close, with AAA having a 0.88% return and BIL slightly lower at 0.85%.
AAA
- 1D
- 0.37%
- 1M
- -0.03%
- YTD
- 0.88%
- 6M
- 2.11%
- 1Y
- 5.36%
- 3Y*
- 6.56%
- 5Y*
- 4.44%
- 10Y*
- —
BIL
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 0.85%
- 6M
- 1.84%
- 1Y
- 3.99%
- 3Y*
- 4.70%
- 5Y*
- 3.27%
- 10Y*
- 2.12%
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AAA vs. BIL - Expense Ratio Comparison
AAA has a 0.25% expense ratio, which is higher than BIL's 0.14% 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%.
Return for Risk
AAA vs. BIL — Risk / Return Rank
AAA
BIL
AAA vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AAF First Priority CLO Bond ETF (AAA) and SPDR Barclays 1-3 Month T-Bill ETF (BIL). 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.
| AAA | BIL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.59 | 19.52 | -17.93 |
Sortino ratioReturn per unit of downside risk | 2.30 | 254.04 | -251.74 |
Omega ratioGain probability vs. loss probability | 1.40 | 180.28 | -178.88 |
Calmar ratioReturn relative to maximum drawdown | 2.36 | 365.54 | -363.17 |
Martin ratioReturn relative to average drawdown | 17.19 | 4,104.04 | -4,086.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AAA | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.59 | 19.52 | -17.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.01 | 12.54 | -10.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 8.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.92 | 2.72 | -0.80 |
Correlation
The correlation between AAA and BIL is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
AAA vs. BIL - Dividend Comparison
AAA's dividend yield for the trailing twelve months is around 5.00%, more than BIL's 4.01% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
AAA AAF First Priority CLO Bond ETF | 5.00% | 5.11% | 6.17% | 6.11% | 2.78% | 1.06% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% |
BIL SPDR Barclays 1-3 Month T-Bill ETF | 4.01% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% |
Drawdowns
AAA vs. BIL - Drawdown Comparison
The maximum AAA drawdown since its inception was -2.63%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for AAA and BIL.
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Drawdown Indicators
| AAA | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.63% | -0.78% | -1.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.25% | -0.01% | -2.24% |
Max Drawdown (5Y)Largest decline over 5 years | -2.63% | -0.12% | -2.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.21% | — |
Current DrawdownCurrent decline from peak | -0.07% | 0.00% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -0.31% | -0.26% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.31% | 0.00% | +0.31% |
Volatility
AAA vs. BIL - Volatility Comparison
AAF First Priority CLO Bond ETF (AAA) has a higher volatility of 0.64% compared to SPDR Barclays 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that AAA's price experiences larger fluctuations and is considered to be riskier than BIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAA | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 0.05% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 1.51% | 0.14% | +1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.40% | 0.21% | +3.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.22% | 0.26% | +1.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.13% | 0.26% | +1.87% |