BIL vs. TFLO
Compare and contrast key facts about SPDR Barclays 1-3 Month T-Bill ETF (BIL) and iShares Treasury Floating Rate Bond ETF (TFLO).
BIL and TFLO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BIL is a passively managed fund by State Street that tracks the performance of the Barclays Capital U.S. 1-3 Month Treasury Bill Index. It was launched on May 25, 2007. TFLO is a passively managed fund by iShares that tracks the performance of the Barclays U.S. Treasury Floating Rate Index. It was launched on Feb 3, 2014. Both BIL and TFLO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BIL or TFLO.
Performance
BIL vs. TFLO - Performance Comparison
Returns By Period
The year-to-date returns for both investments are quite close, with BIL having a 4.65% return and TFLO slightly higher at 4.75%. Over the past 10 years, BIL has underperformed TFLO with an annualized return of 1.56%, while TFLO has yielded a comparatively higher 1.87% annualized return.
BIL
4.65%
0.39%
2.56%
5.28%
2.28%
1.56%
TFLO
4.75%
0.47%
2.48%
5.33%
2.48%
1.87%
Key characteristics
| BIL | TFLO | |
|---|---|---|
| Sharpe Ratio | 20.31 | 16.49 |
| Sortino Ratio | 272.43 | 67.24 |
| Omega Ratio | 158.29 | 17.89 |
| Calmar Ratio | 481.80 | 208.14 |
| Martin Ratio | 4,437.10 | 1,024.05 |
| Ulcer Index | 0.00% | 0.01% |
| Daily Std Dev | 0.26% | 0.32% |
| Max Drawdown | -0.77% | -5.01% |
| Current Drawdown | 0.00% | 0.00% |
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BIL vs. TFLO - Expense Ratio Comparison
BIL has a 0.14% expense ratio, which is lower than TFLO's 0.15% 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%.
Correlation
The correlation between BIL and TFLO is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Risk-Adjusted Performance
BIL vs. TFLO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Barclays 1-3 Month T-Bill ETF (BIL) and iShares Treasury Floating Rate Bond ETF (TFLO). 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.
Dividends
BIL vs. TFLO - Dividend Comparison
BIL's dividend yield for the trailing twelve months is around 5.15%, less than TFLO's 5.34% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Barclays 1-3 Month T-Bill ETF | 5.15% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% | 0.00% | 0.00% |
TFLO iShares Treasury Floating Rate Bond ETF | 5.34% | 4.89% | 1.67% | 0.00% | 0.36% | 2.08% | 1.65% | 0.86% | 0.30% | 0.15% | 0.08% |
Drawdowns
BIL vs. TFLO - Drawdown Comparison
The maximum BIL drawdown since its inception was -0.77%, smaller than the maximum TFLO drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for BIL and TFLO. For additional features, visit the drawdowns tool.
Volatility
BIL vs. TFLO - Volatility Comparison
SPDR Barclays 1-3 Month T-Bill ETF (BIL) has a higher volatility of 0.08% compared to iShares Treasury Floating Rate Bond ETF (TFLO) at 0.07%. This indicates that BIL's price experiences larger fluctuations and is considered to be riskier than TFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.