BILS vs. CLIP
Compare and contrast key facts about SPDR Bloomberg 3-12 Month T-Bill ETF (BILS) and Global X 1-3 Month T-Bill ETF (CLIP).
BILS and CLIP 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 SPDR that tracks the performance of the Bloomberg 3-12 Month U.S. Treasury Bill Index. It was launched on Sep 24, 2020. CLIP is a passively managed fund by Global X that tracks the performance of the Solactive 1-3 month US T-Bill Index - USD. It was launched on Jun 20, 2023. Both BILS and CLIP 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: BILS or CLIP.
Key characteristics
| BILS | CLIP | |
|---|---|---|
| YTD Return | 4.48% | 4.59% |
| 1Y Return | 5.30% | 5.36% |
| Sharpe Ratio | 18.26 | 8.49 |
| Sortino Ratio | 96.11 | 20.67 |
| Omega Ratio | 31.83 | 4.61 |
| Calmar Ratio | 131.32 | 67.17 |
| Martin Ratio | 1,345.95 | 310.06 |
| Ulcer Index | 0.00% | 0.02% |
| Daily Std Dev | 0.29% | 0.57% |
| Max Drawdown | -0.41% | -0.08% |
| Current Drawdown | -0.01% | 0.00% |
Correlation
The correlation between BILS and CLIP is 0.25, 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.
Performance
BILS vs. CLIP - Performance Comparison
The year-to-date returns for both investments are quite close, with BILS having a 4.48% return and CLIP slightly higher at 4.59%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BILS vs. CLIP - Expense Ratio Comparison
BILS has a 0.14% expense ratio, which is higher than CLIP'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%.
Risk-Adjusted Performance
BILS vs. CLIP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 3-12 Month T-Bill ETF (BILS) and Global X 1-3 Month T-Bill ETF (CLIP). 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
BILS vs. CLIP - Dividend Comparison
BILS's dividend yield for the trailing twelve months is around 5.14%, less than CLIP's 5.24% yield.
| TTM | 2023 | 2022 | |
|---|---|---|---|
BILS SPDR Bloomberg 3-12 Month T-Bill ETF | 5.14% | 4.98% | 1.61% |
CLIP Global X 1-3 Month T-Bill ETF | 5.24% | 2.75% | 0.00% |
Drawdowns
BILS vs. CLIP - Drawdown Comparison
The maximum BILS drawdown since its inception was -0.41%, which is greater than CLIP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for BILS and CLIP. For additional features, visit the drawdowns tool.
Volatility
BILS vs. CLIP - Volatility Comparison
The current volatility for SPDR Bloomberg 3-12 Month T-Bill ETF (BILS) is 0.08%, while Global X 1-3 Month T-Bill ETF (CLIP) has a volatility of 0.12%. This indicates that BILS experiences smaller price fluctuations and is considered to be less risky than CLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.