BIL vs. BRK-B

Last updated Jun 9, 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 BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, BIL returned 2.19%/yr vs 13.14%/yr for BRK-B. At a correlation of -0.03, they often move in opposite directions.

Performance

BIL vs. BRK-B - 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 Berkshire Hathaway Inc. (BRK-B). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIL achieves a 1.54% return, which is significantly higher than BRK-B's -3.11% return. Over the past 10 years, BIL has underperformed BRK-B with an annualized return of 2.19%, while BRK-B has yielded a comparatively higher 13.14% annualized return.

BIL

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.54%
• 6M: 1.78%
• 1Y: 3.88%
• 3Y*: 4.62%
• 5Y*: 3.42%
• 10Y*: 2.19%

BRK-B

• 1D: -0.23%
• 1M: 2.32%
• YTD: -3.11%
• 6M: -2.06%
• 1Y: -1.32%
• 3Y*: 13.25%
• 5Y*: 11.03%
• 10Y*: 13.14%

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

BIL vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.54%	4.15%	5.19%	4.94%	1.40%	-0.10%	0.40%	2.03%	1.74%	0.69%
BRK-B Berkshire Hathaway Inc.	-3.11%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between BIL and BRK-B is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (5Y) Calculated over the trailing 5-year period	-0.02
Correlation (10Y) Calculated over the trailing 10-year period	-0.01
Correlation (All Time) Calculated using the full available price history since May 31, 2007	-0.03

Return for Risk

BIL vs. BRK-B — 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

BRK-B

BRK-B Risk / Return Rank: 35
BRK-B Sharpe Ratio Rank: 38
BRK-B Sortino Ratio Rank: 30
BRK-B Omega Ratio Rank: 30
BRK-B Calmar Ratio Rank: 38
BRK-B Martin Ratio Rank: 37

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. BRK-B - 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 Berkshire Hathaway Inc. (BRK-B). 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.

	BIL	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	19.64	-0.09	+19.73
Sortino ratio: Return per unit of downside risk	174.66	-0.03	+174.69
Omega ratio: Gain probability vs. loss probability	88.16	1.00	+87.16
Calmar ratio: Return relative to maximum drawdown	356.40	-0.14	+356.54
Martin ratio: Return relative to average drawdown	2,826.06	-0.30	+2,826.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BIL vs. BRK-B - Sharpe Ratio Comparison

The current BIL Sharpe Ratio is 19.64, which is higher than the BRK-B Sharpe Ratio of -0.09. The chart below compares the historical Sharpe Ratios of BIL and BRK-B, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BIL	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	19.64	-0.09	+19.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	13.23	0.65	+12.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	8.57	0.68	+7.89
Sharpe Ratio (All Time) Calculated using the full available price history	2.78	0.48	+2.30

Drawdowns

BIL vs. BRK-B - Drawdown Comparison

The maximum BIL drawdown since its inception was -0.78%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for BIL and BRK-B.

Drawdown Indicators

	BIL	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-0.78%	-53.86%	+53.08%
Max Drawdown (1Y) Largest decline over 1 year	-0.01%	-9.42%	+9.41%
Max Drawdown (3Y) Largest decline over 3 years	-0.01%	-14.95%	+14.94%
Max Drawdown (5Y) Largest decline over 5 years	-0.09%	-26.58%	+26.49%
Max Drawdown (10Y) Largest decline over 10 years	-0.21%	-29.57%	+29.36%
Current Drawdown Current decline from peak	0.00%	-9.78%	+9.78%
Average Drawdown Average peak-to-trough decline	-0.26%	-11.07%	+10.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	4.49%	-4.49%

Volatility

BIL vs. BRK-B - Volatility Comparison

The current volatility for SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) is 0.06%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 3.98%. This indicates that BIL experiences smaller price fluctuations and is considered to be less risky than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIL	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	3.98%	-3.92%
Volatility (6M) Calculated over the trailing 6-month period	0.14%	10.87%	-10.73%
Volatility (1Y) Calculated over the trailing 1-year period	0.20%	14.38%	-14.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.26%	17.13%	-16.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.26%	19.44%	-19.18%

Dividends

BIL vs. BRK-B - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
BRK-B Berkshire Hathaway Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BIL and BRK-B in my portfolio?

BIL and BRK-B have a correlation of -0.03, 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 BRK-B?

BRK-B has higher volatility (3.98%) compared to BIL (0.06%). In terms of maximum drawdown, BIL dropped -0.78% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

BIL currently has the higher Sharpe Ratio (19.64 vs -0.09), 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.