BIL vs. BTC-USD
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 BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, BIL returned 2.23%/yr vs 58.69%/yr for BTC-USD. At a 0.00 correlation, their price movements are largely independent.
Performance
BIL vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, BIL achieves a 1.95% return, which is significantly higher than BTC-USD's -23.90% return. Over the past 10 years, BIL has underperformed BTC-USD with an annualized return of 2.23%, while BTC-USD has yielded a comparatively higher 58.69% annualized return.
BIL
- 1D
- 0.00%
- 1M
- 0.28%
- 6M
- 1.77%
- YTD
- 1.95%
- 1Y
- 3.77%
- 3Y*
- 4.56%
- 5Y*
- 3.51%
- 10Y*
- 2.23%
- ALL TIME*
- 1.37%
BTC-USD
- 1D
- 2.10%
- 1M
- 5.29%
- 6M
- -24.60%
- YTD
- -23.90%
- 1Y
- -43.30%
- 3Y*
- 30.74%
- 5Y*
- 15.58%
- 10Y*
- 58.69%
- ALL TIME*
- 89.03%
BIL vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.95% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
BTC-USD Bitcoin | -23.90% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between BIL and BTC-USD is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2012 | 0.00 |
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Return for Risk
BIL vs. BTC-USD — Risk / Return Rank
BIL
BTC-USD
BIL vs. BTC-USD - 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 Bitcoin (BTC-USD). 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 | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +20.05 | ||
| Sortino ratioReturn per unit of downside risk | +153.26 | ||
| Omega ratioGain probability vs. loss probability | 68.75 | 0.85 | +67.90 |
| Calmar ratioReturn relative to maximum drawdown | 346.15 | -0.82 | +346.96 |
| Martin ratioReturn relative to average drawdown | 2,454.72 | -1.30 | +2,456.02 |
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Drawdowns
BIL vs. BTC-USD - Drawdown Comparison
The maximum BIL drawdown since its inception was -0.78%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for BIL and BTC-USD.
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Drawdown Indicators
| BIL | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.78% | -85.30% | +84.52% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | -53.08% | +53.07% |
Max Drawdown (3Y)Largest decline over 3 years | -0.01% | -53.08% | +53.07% |
Max Drawdown (5Y)Largest decline over 5 years | -0.08% | -76.67% | +76.59% |
Max Drawdown (10Y)Largest decline over 10 years | -0.21% | -83.80% | +83.59% |
Current DrawdownCurrent decline from peak | 0.00% | -46.61% | +46.61% |
Average DrawdownAverage peak-to-trough decline | -0.26% | -42.62% | +42.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 27.11% | -27.11% |
Volatility
BIL vs. BTC-USD - Volatility Comparison
The current volatility for SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) is 0.07%, while Bitcoin (BTC-USD) has a volatility of 9.38%. This indicates that BIL experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIL | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 9.38% | -9.31% |
Volatility (6M)Calculated over the trailing 6-month period | 0.14% | 34.69% | -34.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 35.80% | -35.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.26% | 43.84% | -43.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.26% | 56.33% | -56.07% |
Frequently Asked Questions
BIL and BTC-USD have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (9.38%) compared to BIL (0.07%). In terms of maximum drawdown, BIL dropped -0.78% vs BTC-USD's -85.30%.
BIL currently has the higher Sharpe Ratio (19.04 vs -1.01), 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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