BIL vs. CET
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 CET (Central Securities Corp.) is a stock. Over the past 10 years, BIL returned 2.20%/yr vs 16.62%/yr for CET. At a correlation of -0.01, they often move in opposite directions.
Performance
BIL vs. CET - 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 CET's 4.87% return. Over the past 10 years, BIL has underperformed CET with an annualized return of 2.20%, while CET has yielded a comparatively higher 16.62% 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%
CET
- 1D
- 1.30%
- 1M
- -0.13%
- YTD
- 4.87%
- 6M
- 5.08%
- 1Y
- 19.87%
- 3Y*
- 19.61%
- 5Y*
- 11.50%
- 10Y*
- 16.62%
BIL vs. CET - 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% |
CET Central Securities Corp. | 4.87% | 17.20% | 26.82% | 19.17% | -19.68% | 49.00% | 4.99% | 38.61% | -4.49% | 30.61% |
Correlation
The correlation between BIL and CET is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since May 30, 2007 | -0.01 |
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Return for Risk
BIL vs. CET — Risk / Return Rank
BIL
CET
BIL vs. CET - 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 Central Securities Corp. (CET). 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 | CET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +18.08 | ||
| Sortino ratioReturn per unit of downside risk | +172.96 | ||
| Omega ratioGain probability vs. loss probability | 88.41 | 1.28 | +87.13 |
| Calmar ratioReturn relative to maximum drawdown | 357.44 | 2.22 | +355.22 |
| Martin ratioReturn relative to average drawdown | 2,834.34 | 8.98 | +2,825.35 |
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Drawdowns
BIL vs. CET - Drawdown Comparison
The maximum BIL drawdown since its inception was -0.78%, smaller than the maximum CET drawdown of -56.69%. Use the drawdown chart below to compare losses from any high point for BIL and CET.
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Drawdown Indicators
| BIL | CET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.78% | -56.69% | +55.91% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | -8.08% | +8.07% |
Max Drawdown (3Y)Largest decline over 3 years | -0.01% | -15.42% | +15.41% |
Max Drawdown (5Y)Largest decline over 5 years | -0.09% | -24.89% | +24.80% |
Max Drawdown (10Y)Largest decline over 10 years | -0.21% | -39.91% | +39.70% |
Current DrawdownCurrent decline from peak | 0.00% | -1.65% | +1.65% |
Average DrawdownAverage peak-to-trough decline | -0.26% | -10.16% | +9.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 2.00% | -2.00% |
Volatility
BIL vs. CET - Volatility Comparison
The current volatility for SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) is 0.06%, while Central Securities Corp. (CET) has a volatility of 3.75%. This indicates that BIL experiences smaller price fluctuations and is considered to be less risky than CET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIL | CET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 3.75% | -3.69% |
Volatility (6M)Calculated over the trailing 6-month period | 0.14% | 9.05% | -8.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 11.66% | -11.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.26% | 14.56% | -14.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.26% | 16.65% | -16.39% |
Dividends
BIL vs. CET - Dividend Comparison
BIL's dividend yield for the trailing twelve months is around 3.86%, less than CET's 5.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
CET Central Securities Corp. | 5.08% | 5.32% | 4.92% | 4.90% | 7.34% | 8.41% | 5.68% | 3.78% | 5.84% | 3.65% | 4.50% | 10.41% |
Frequently Asked Questions
BIL and CET have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CET has higher volatility (3.75%) compared to BIL (0.06%). In terms of maximum drawdown, BIL dropped -0.78% vs CET's -56.69%.
BIL currently has the higher Sharpe Ratio (19.63 vs 1.55), 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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