BILL vs. TLT
BILL (Bill.com Holdings, Inc.) is a stock, while TLT (iShares 20+ Year Treasury Bond ETF) is Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Over the past 5 years, BILL returned -25.51%/yr vs -8.33%/yr for TLT. Their 0.09 correlation means their historical movements had little consistent relationship.
Performance
BILL vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, BILL achieves a -13.42% return, which is significantly lower than TLT's -3.18% return.
BILL
- 1D
- 4.63%
- 1M
- 16.65%
- 6M
- 13.43%
- YTD
- -13.42%
- 1Y
- 13.16%
- 3Y*
- -25.74%
- 5Y*
- -25.51%
- 10Y*
- —
- ALL TIME*
- 3.64%
TLT
- 1D
- 0.33%
- 1M
- -3.49%
- 6M
- -2.86%
- YTD
- -3.18%
- 1Y
- -2.12%
- 3Y*
- -1.15%
- 5Y*
- -8.33%
- 10Y*
- -2.33%
- ALL TIME*
- 3.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $104.99M | $102.12M | $107.52M | |
| $2.39B | $2.06B | $2.20B |
BILL vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BILL Bill.com Holdings, Inc. | -13.42% | -35.62% | 3.82% | -25.12% | -56.27% | 82.53% | 258.74% | 2.15% |
TLT iShares 20+ Year Treasury Bond ETF | -3.18% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | -2.90% |
Correlation
The correlation between BILL and TLT is 0.17, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.17 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2019 | 0.09 |
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Return for Risk
BILL vs. TLT — Risk / Return Rank
BILL
TLT
BILL vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bill.com Holdings, Inc. (BILL) and iShares 20+ Year Treasury Bond ETF (TLT). 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.
| BILL | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.97 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.31 | -0.28 | +0.58 |
| Martin ratioReturn relative to average drawdown | 0.60 | -0.59 | +1.19 |
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Drawdowns
BILL vs. TLT - Drawdown Comparison
The maximum BILL drawdown since its inception was -90.66%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for BILL and TLT.
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Drawdown Indicators
| BILL | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.66% | -48.35% | -42.31% |
Max Drawdown (1Y)Largest decline over 1 year | -43.24% | -7.74% | -35.50% |
Max Drawdown (3Y)Largest decline over 3 years | -72.96% | -14.79% | -58.17% |
Max Drawdown (5Y)Largest decline over 5 years | -90.66% | -43.70% | -46.96% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -86.20% | -42.17% | -44.03% |
Average DrawdownAverage peak-to-trough decline | -55.38% | -14.00% | -41.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.15% | 3.60% | +18.55% |
Volatility
BILL vs. TLT - Volatility Comparison
Bill.com Holdings, Inc. (BILL) has a higher volatility of 15.53% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.51%. This indicates that BILL's price experiences larger fluctuations and is considered to be riskier than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BILL | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.53% | 2.51% | +13.02% |
Volatility (6M)Calculated over the trailing 6-month period | 50.82% | 6.84% | +43.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.08% | 9.24% | +55.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.84% | 15.74% | +55.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.64% | 14.83% | +57.81% |
Dividends
BILL vs. TLT - Dividend Comparison
BILL has not paid dividends to shareholders, while TLT's dividend yield for the trailing twelve months is around 4.75%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BILL Bill.com Holdings, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.75% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
BILL and TLT have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BILL has higher volatility (15.53%) compared to TLT (2.51%). In terms of maximum drawdown, BILL dropped -90.66% vs TLT's -48.35%.
BILL currently has the higher Sharpe Ratio (0.20 vs -0.23), 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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