BIL vs. IUVF.L
BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) and IUVF.L (iShares Edge MSCI USA Value Factor UCITS) are both exchange-traded funds - BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index, while IUVF.L is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD. Both are passively managed. Over the past 5 years, BIL returned 3.43%/yr vs 15.04%/yr for IUVF.L. At a correlation of -0.01, they often move in opposite directions. BIL charges 0.14%/yr vs 0.20%/yr for IUVF.L.
Performance
BIL vs. IUVF.L - Performance Comparison
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Different Trading Currencies
BIL is traded in USD, while IUVF.L is traded in GBp. To make them comparable, the IUVF.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BIL achieves a 1.56% return, which is significantly lower than IUVF.L's 40.87% return.
BIL
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.56%
- 6M
- 1.77%
- 1Y
- 3.87%
- 3Y*
- 4.63%
- 5Y*
- 3.43%
- 10Y*
- 2.19%
IUVF.L
- 1D
- 0.54%
- 1M
- 7.62%
- YTD
- 40.87%
- 6M
- 41.96%
- 1Y
- 77.88%
- 3Y*
- 30.51%
- 5Y*
- 15.04%
- 10Y*
- —
BIL vs. IUVF.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.56% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
IUVF.L iShares Edge MSCI USA Value Factor UCITS | 40.87% | 33.27% | 6.43% | 13.99% | -14.83% | 30.10% | -1.83% | 27.01% | -12.42% | 21.44% |
Correlation
The correlation between BIL and IUVF.L 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 | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2016 | -0.01 |
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Return for Risk
BIL vs. IUVF.L — Risk / Return Rank
BIL
IUVF.L
BIL vs. IUVF.L - 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 Edge MSCI USA Value Factor UCITS (IUVF.L). 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 | IUVF.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +14.89 | ||
| Sortino ratioReturn per unit of downside risk | +167.76 | ||
| Omega ratioGain probability vs. loss probability | 87.91 | 1.79 | +86.11 |
| Calmar ratioReturn relative to maximum drawdown | 355.36 | 10.03 | +345.33 |
| Martin ratioReturn relative to average drawdown | 2,817.81 | 39.11 | +2,778.70 |
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Drawdowns
BIL vs. IUVF.L - Drawdown Comparison
The maximum BIL drawdown since its inception was -0.78%, smaller than the maximum IUVF.L drawdown of -39.29%. Use the drawdown chart below to compare losses from any high point for BIL and IUVF.L.
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Drawdown Indicators
| BIL | IUVF.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.78% | -39.29% | +38.51% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | -7.73% | +7.72% |
Max Drawdown (3Y)Largest decline over 3 years | -0.01% | -18.56% | +18.55% |
Max Drawdown (5Y)Largest decline over 5 years | -0.09% | -27.00% | +26.91% |
Max Drawdown (10Y)Largest decline over 10 years | -0.21% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -4.70% | +4.70% |
Average DrawdownAverage peak-to-trough decline | -0.26% | -7.38% | +7.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 1.98% | -1.98% |
Volatility
BIL vs. IUVF.L - Volatility Comparison
The current volatility for SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) is 0.06%, while iShares Edge MSCI USA Value Factor UCITS (IUVF.L) has a volatility of 7.37%. This indicates that BIL experiences smaller price fluctuations and is considered to be less risky than IUVF.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIL | IUVF.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 7.37% | -7.31% |
Volatility (6M)Calculated over the trailing 6-month period | 0.14% | 13.29% | -13.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 16.48% | -16.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.26% | 17.52% | -17.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.26% | 18.97% | -18.71% |
BIL vs. IUVF.L - Expense Ratio Comparison
BIL has a 0.14% expense ratio, which is lower than IUVF.L's 0.20% expense ratio. Despite the difference, 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. IUVF.L - Dividend Comparison
BIL's dividend yield for the trailing twelve months is around 3.86%, while IUVF.L 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% |
IUVF.L iShares Edge MSCI USA Value Factor UCITS | 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
BIL and IUVF.L 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.
On fees, BIL is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BIL is cheaper with a 0.14% expense ratio, compared with 0.20% for IUVF.L.
BIL is categorized as Government Bonds, while IUVF.L is Large Cap Value Equities. BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index, while IUVF.L tracks Russell 1000 Value TR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.14% for BIL and 0.20% for IUVF.L.
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