BIL vs. APLD

Last updated Jun 14, 2026

BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) is Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index, while APLD (Applied Digital Corporation) is a stock. Over the past 10 years, BIL returned 2.20%/yr vs 125.13%/yr for APLD. At a correlation of -0.01, they often move in opposite directions.

Performance

BIL vs. APLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) and Applied Digital Corporation (APLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIL achieves a 1.60% return, which is significantly lower than APLD's 74.14% return. Over the past 10 years, BIL has underperformed APLD with an annualized return of 2.20%, while APLD has yielded a comparatively higher 125.13% annualized return.

BIL

• 1D: 0.03%
• 1M: 0.29%
• YTD: 1.60%
• 6M: 1.76%
• 1Y: 3.85%
• 3Y*: 4.63%
• 5Y*: 3.43%
• 10Y*: 2.20%

APLD

• 1D: 2.97%
• 1M: -8.58%
• YTD: 74.14%
• 6M: 53.27%
• 1Y: 281.93%
• 3Y*: 69.23%
• 5Y*: 112.30%
• 10Y*: 125.13%

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

BIL vs. APLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.60%	4.15%	5.19%	4.94%	1.40%	-0.10%	0.40%	2.03%	1.74%	0.69%
APLD Applied Digital Corporation	74.14%	220.94%	13.35%	266.30%	-56.09%	11,789.90%	389.44%	-34.55%	64.99%	-33.33%

Correlation

The correlation between BIL and APLD is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (5Y) Calculated over the trailing 5-year period	-0.06
Correlation (10Y) Calculated over the trailing 10-year period	-0.04
Correlation (All Time) Calculated using the full available price history since Oct 22, 2008	-0.01

The correlation between BIL and APLD shifts across timeframes, from -0.14 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BIL vs. APLD — Risk / Return Rank

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

BIL

BIL Risk / Return Rank: 100
BIL Sharpe Ratio Rank: 100
BIL Sortino Ratio Rank: 100
BIL Omega Ratio Rank: 100
BIL Calmar Ratio Rank: 100
BIL Martin Ratio Rank: 100

APLD

APLD Risk / Return Rank: 90
APLD Sharpe Ratio Rank: 92
APLD Sortino Ratio Rank: 89
APLD Omega Ratio Rank: 85
APLD Calmar Ratio Rank: 92
APLD Martin Ratio Rank: 91

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.

BIL vs. APLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) and Applied Digital Corporation (APLD). 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.

	BIL	APLD	Difference
Sharpe ratio: Return per unit of total volatility	19.63	2.27	+17.36
Sortino ratio: Return per unit of downside risk	175.17	2.92	+172.24
Omega ratio: Gain probability vs. loss probability	88.41	1.33	+87.08
Calmar ratio: Return relative to maximum drawdown	357.44	4.83	+352.61
Martin ratio: Return relative to average drawdown	2,834.34	11.72	+2,822.62

BIL vs. APLD - Sharpe Ratio Comparison

The current BIL Sharpe Ratio is 19.63, which is higher than the APLD Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of BIL and APLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BIL vs. APLD - Drawdown Comparison

The maximum BIL drawdown since its inception was -0.78%, smaller than the maximum APLD drawdown of -99.73%. Use the drawdown chart below to compare losses from any high point for BIL and APLD.

Drawdown Indicators

	BIL	APLD	Difference
Max Drawdown Largest peak-to-trough decline	-0.78%	-99.73%	+98.95%
Max Drawdown (1Y) Largest decline over 1 year	-0.01%	-50.31%	+50.30%
Max Drawdown (3Y) Largest decline over 3 years	-0.01%	-76.66%	+76.65%
Max Drawdown (5Y) Largest decline over 5 years	-0.09%	-82.61%	+82.52%
Max Drawdown (10Y) Largest decline over 10 years	-0.21%	-89.80%	+89.59%
Current Drawdown Current decline from peak	0.00%	-14.00%	+14.00%
Average Drawdown Average peak-to-trough decline	-0.26%	-74.86%	+74.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	21.22%	-21.22%

Volatility

BIL vs. APLD - Volatility Comparison

The current volatility for SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) is 0.06%, while Applied Digital Corporation (APLD) has a volatility of 33.15%. This indicates that BIL experiences smaller price fluctuations and is considered to be less risky than APLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIL	APLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	33.15%	-33.09%
Volatility (6M) Calculated over the trailing 6-month period	0.14%	80.49%	-80.35%
Volatility (1Y) Calculated over the trailing 1-year period	0.20%	107.13%	-106.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.26%	165.20%	-164.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.26%	301.46%	-301.20%

Dividends

BIL vs. APLD - Dividend Comparison

BIL's dividend yield for the trailing twelve months is around 3.86%, while APLD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
APLD Applied Digital Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	3.86%	4.13%	5.03%	4.92%	1.35%	0.00%	0.30%	2.05%	1.66%	0.68%	0.07%

Frequently Asked Questions

Can I hold both BIL and APLD in my portfolio?

BIL and APLD have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIL or APLD?

APLD has higher volatility (33.15%) compared to BIL (0.06%). In terms of maximum drawdown, BIL dropped -0.78% vs APLD's -99.73%.

Which has better risk-adjusted returns?

BIL currently has the higher Sharpe Ratio (19.63 vs 2.27), 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.