BIL vs. IBTE

Last updated Jun 4, 2026

BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) and IBTE (iShares iBonds Dec 2024 Term Treasury ETF) are both Government Bonds funds - BIL tracks the Bloomberg 1-3 Month U.S. Treasury Bill Index while IBTE tracks the ICE 2024 Maturity US Treasury Index. Both are passively managed. BIL charges 0.14%/yr vs 0.07%/yr for IBTE.

Performance

BIL vs. IBTE - 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 iShares iBonds Dec 2024 Term Treasury ETF (IBTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BIL

• 1D: 0.02%
• 1M: 0.28%
• YTD: 1.49%
• 6M: 1.77%
• 1Y: 3.87%
• 3Y*: 4.64%
• 5Y*: 3.41%
• 10Y*: 2.18%

IBTE

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BIL vs. IBTE - Yearly Performance Comparison

	2026 (YTD)
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.12%
IBTE iShares iBonds Dec 2024 Term Treasury ETF	0.00%

Return for Risk

BIL vs. IBTE — 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

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. IBTE - 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 iShares iBonds Dec 2024 Term Treasury ETF (IBTE). 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	IBTE	Difference
Sharpe ratio: Return per unit of total volatility	19.71	—	—
Sortino ratio: Return per unit of downside risk	174.16	—	—
Omega ratio: Gain probability vs. loss probability	87.91	—	—
Calmar ratio: Return relative to maximum drawdown	355.35	—	—
Martin ratio: Return relative to average drawdown	2,817.77	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BIL	IBTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	19.71	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	13.16	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	8.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.78	—	—

Drawdowns

BIL vs. IBTE - Drawdown Comparison

The maximum BIL drawdown since its inception was -0.78%, which is greater than IBTE's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for BIL and IBTE.

Drawdown Indicators

	BIL	IBTE	Difference
Max Drawdown Largest peak-to-trough decline	-0.78%	0.00%	-0.78%
Max Drawdown (1Y) Largest decline over 1 year	-0.01%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-0.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-0.10%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-0.21%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.26%	0.00%	-0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	—	—

Volatility

Volatility by Period

	BIL	IBTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.13%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.20%	0.00%	+0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.26%	0.00%	+0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.26%	0.00%	+0.26%

BIL vs. IBTE - Expense Ratio Comparison

BIL has a 0.14% expense ratio, which is higher than IBTE's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BIL vs. IBTE - Dividend Comparison

BIL's dividend yield for the trailing twelve months is around 3.86%, while IBTE 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%
IBTE iShares iBonds Dec 2024 Term Treasury ETF	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

Which ETF is better, BIL or IBTE?

On fees, IBTE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BIL or IBTE?

IBTE is cheaper with a 0.07% expense ratio, compared with 0.14% for BIL.

Which ETF pays a higher dividend yield, BIL or IBTE?

BIL has the higher dividend yield at 3.86%, compared with 0.00% for IBTE.

What is the main difference between BIL and IBTE?

BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index, while IBTE tracks ICE 2024 Maturity US Treasury Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.14% for BIL and 0.07% for IBTE.