BIL vs. AXGN
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 AXGN (AxoGen, Inc.) is a stock. Over the past 10 years, BIL returned 2.20%/yr vs 22.76%/yr for AXGN. At a correlation of -0.01, they often move in opposite directions.
Performance
BIL vs. AXGN - Performance Comparison
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Returns By Period
In the year-to-date period, BIL achieves a 1.60% return, which is significantly lower than AXGN's 31.38% return. Over the past 10 years, BIL has underperformed AXGN with an annualized return of 2.20%, while AXGN has yielded a comparatively higher 22.76% 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%
AXGN
- 1D
- 1.51%
- 1M
- 5.01%
- YTD
- 31.38%
- 6M
- 41.49%
- 1Y
- 341.03%
- 3Y*
- 66.42%
- 5Y*
- 15.90%
- 10Y*
- 22.76%
BIL vs. AXGN - 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% |
AXGN AxoGen, Inc. | 31.38% | 98.60% | 141.29% | -31.56% | 6.51% | -47.65% | 0.06% | -12.43% | -27.81% | 214.44% |
Correlation
The correlation between BIL and AXGN is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since May 30, 2007 | -0.01 |
Over the past year, the inverse relationship between BIL and AXGN has strengthened: their correlation has moved from -0.01 to -0.21, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
BIL vs. AXGN — Risk / Return Rank
BIL
AXGN
BIL vs. AXGN - 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 AxoGen, Inc. (AXGN). 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 | AXGN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +13.50 | ||
| Sortino ratioReturn per unit of downside risk | +169.49 | ||
| Omega ratioGain probability vs. loss probability | 88.41 | 1.70 | +86.71 |
| Calmar ratioReturn relative to maximum drawdown | 357.44 | 17.13 | +340.31 |
| Martin ratioReturn relative to average drawdown | 2,834.34 | 59.46 | +2,774.88 |
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Drawdowns
BIL vs. AXGN - Drawdown Comparison
The maximum BIL drawdown since its inception was -0.78%, smaller than the maximum AXGN drawdown of -98.49%. Use the drawdown chart below to compare losses from any high point for BIL and AXGN.
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Drawdown Indicators
| BIL | AXGN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.78% | -98.49% | +97.71% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | -19.30% | +19.29% |
Max Drawdown (3Y)Largest decline over 3 years | -0.01% | -62.36% | +62.35% |
Max Drawdown (5Y)Largest decline over 5 years | -0.09% | -83.69% | +83.60% |
Max Drawdown (10Y)Largest decline over 10 years | -0.21% | -93.54% | +93.33% |
Current DrawdownCurrent decline from peak | 0.00% | -23.08% | +23.08% |
Average DrawdownAverage peak-to-trough decline | -0.26% | -64.86% | +64.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 5.58% | -5.58% |
Volatility
BIL vs. AXGN - Volatility Comparison
The current volatility for SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) is 0.06%, while AxoGen, Inc. (AXGN) has a volatility of 11.35%. This indicates that BIL experiences smaller price fluctuations and is considered to be less risky than AXGN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIL | AXGN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 11.35% | -11.29% |
Volatility (6M)Calculated over the trailing 6-month period | 0.14% | 33.99% | -33.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 54.01% | -53.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.26% | 64.11% | -63.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.26% | 62.08% | -61.82% |
Dividends
BIL vs. AXGN - Dividend Comparison
BIL's dividend yield for the trailing twelve months is around 3.86%, while AXGN has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
AXGN AxoGen, Inc. | 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
BIL and AXGN have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AXGN has higher volatility (11.35%) compared to BIL (0.06%). In terms of maximum drawdown, BIL dropped -0.78% vs AXGN's -98.49%.
BIL currently has the higher Sharpe Ratio (19.63 vs 6.13), 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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