BILS vs. BIL
Compare and contrast key facts about SPDR Bloomberg 3-12 Month T-Bill ETF (BILS) and SPDR Barclays 1-3 Month T-Bill ETF (BIL).
BILS and BIL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BILS is a passively managed fund by State Street that tracks the performance of the Bloomberg 3-12 Month U.S. Treasury Bill Index. It was launched on Sep 24, 2020. 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. Both BILS and BIL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
BILS vs. BIL - Performance Comparison
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BILS vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BILS SPDR Bloomberg 3-12 Month T-Bill ETF | 0.80% | 4.23% | 5.17% | 4.92% | 0.90% | -0.08% | 0.00% |
BIL SPDR Barclays 1-3 Month T-Bill ETF | 0.85% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | -0.01% |
Returns By Period
In the year-to-date period, BILS achieves a 0.80% return, which is significantly lower than BIL's 0.85% return.
BILS
- 1D
- 0.02%
- 1M
- 0.26%
- YTD
- 0.80%
- 6M
- 1.82%
- 1Y
- 3.99%
- 3Y*
- 4.67%
- 5Y*
- 3.17%
- 10Y*
- —
BIL
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 0.85%
- 6M
- 1.84%
- 1Y
- 3.99%
- 3Y*
- 4.70%
- 5Y*
- 3.27%
- 10Y*
- 2.12%
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BILS vs. BIL - Expense Ratio Comparison
Both BILS and BIL have an expense ratio of 0.14%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Return for Risk
BILS vs. BIL — Risk / Return Rank
BILS
BIL
BILS vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 3-12 Month T-Bill ETF (BILS) and SPDR Barclays 1-3 Month T-Bill ETF (BIL). 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.
| BILS | BIL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 16.39 | 19.52 | -3.13 |
Sortino ratioReturn per unit of downside risk | 75.13 | 254.04 | -178.91 |
Omega ratioGain probability vs. loss probability | 26.69 | 180.28 | -153.58 |
Calmar ratioReturn relative to maximum drawdown | 132.67 | 365.54 | -232.87 |
Martin ratioReturn relative to average drawdown | 1,118.82 | 4,104.04 | -2,985.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BILS | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 16.39 | 19.52 | -3.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 10.37 | 12.54 | -2.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 8.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 9.65 | 2.72 | +6.93 |
Correlation
The correlation between BILS and BIL is 0.55, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
BILS vs. BIL - Dividend Comparison
BILS's dividend yield for the trailing twelve months is around 3.96%, less than BIL's 4.01% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
BILS SPDR Bloomberg 3-12 Month T-Bill ETF | 3.96% | 4.08% | 5.01% | 4.98% | 1.61% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BIL SPDR Barclays 1-3 Month T-Bill ETF | 4.01% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% |
Drawdowns
BILS vs. BIL - Drawdown Comparison
The maximum BILS drawdown since its inception was -0.41%, smaller than the maximum BIL drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for BILS and BIL.
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Drawdown Indicators
| BILS | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.41% | -0.78% | +0.37% |
Max Drawdown (1Y)Largest decline over 1 year | -0.03% | -0.01% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -0.40% | -0.12% | -0.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.21% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.04% | -0.26% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.00% | 0.00% |
Volatility
BILS vs. BIL - Volatility Comparison
SPDR Bloomberg 3-12 Month T-Bill ETF (BILS) and SPDR Barclays 1-3 Month T-Bill ETF (BIL) have volatilities of 0.05% and 0.05%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BILS | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 0.05% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 0.15% | 0.14% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.24% | 0.21% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.31% | 0.26% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.30% | 0.26% | +0.04% |