BILS vs. FLTR
BILS (SPDR Bloomberg 3-12 Month T-Bill ETF) and FLTR (VanEck IG Floating Rate ETF) are both exchange-traded funds - BILS is a Ultrashort Bond fund tracking the Bloomberg 3-12 Month U.S. Treasury Bill Index, while FLTR is a Corporate Bonds fund tracking the MVIS US Investment Grade Floating Rate Index. Both are passively managed. Over the past 5 years, BILS returned 3.33%/yr vs 4.55%/yr for FLTR. At a 0.12 correlation, their price movements are largely independent. Both charge a 0.14% expense ratio.
Performance
BILS vs. FLTR - Performance Comparison
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Returns By Period
In the year-to-date period, BILS achieves a 1.57% return, which is significantly lower than FLTR's 2.19% return.
BILS
- 1D
- 0.00%
- 1M
- 0.24%
- YTD
- 1.57%
- 6M
- 1.66%
- 1Y
- 3.84%
- 3Y*
- 4.61%
- 5Y*
- 3.33%
- 10Y*
- —
FLTR
- 1D
- 0.08%
- 1M
- 0.38%
- YTD
- 2.19%
- 6M
- 2.36%
- 1Y
- 5.25%
- 3Y*
- 6.16%
- 5Y*
- 4.55%
- 10Y*
- 3.49%
BILS vs. FLTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BILS SPDR Bloomberg 3-12 Month T-Bill ETF | 1.57% | 4.23% | 5.17% | 4.92% | 0.90% | -0.08% | -0.01% |
FLTR VanEck IG Floating Rate ETF | 2.19% | 5.22% | 7.38% | 7.41% | 0.74% | 0.55% | 0.41% |
Correlation
The correlation between BILS and FLTR is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | 0.12 |
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Return for Risk
BILS vs. FLTR — Risk / Return Rank
BILS
FLTR
BILS vs. FLTR - 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 VanEck IG Floating Rate ETF (FLTR). 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.
| BILS | FLTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +10.09 | ||
| Sortino ratioReturn per unit of downside risk | +75.51 | ||
| Omega ratioGain probability vs. loss probability | 34.24 | 3.03 | +31.21 |
| Calmar ratioReturn relative to maximum drawdown | 127.82 | 16.82 | +110.99 |
| Martin ratioReturn relative to average drawdown | 1,285.26 | 98.58 | +1,186.67 |
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Drawdowns
BILS vs. FLTR - Drawdown Comparison
The maximum BILS drawdown since its inception was -0.41%, smaller than the maximum FLTR drawdown of -17.84%. Use the drawdown chart below to compare losses from any high point for BILS and FLTR.
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Drawdown Indicators
| BILS | FLTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.41% | -17.84% | +17.43% |
Max Drawdown (1Y)Largest decline over 1 year | -0.03% | -0.31% | +0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -0.04% | -1.93% | +1.89% |
Max Drawdown (5Y)Largest decline over 5 years | -0.37% | -3.06% | +2.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.84% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.04% | -0.67% | +0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.05% | -0.05% |
Volatility
BILS vs. FLTR - Volatility Comparison
The current volatility for SPDR Bloomberg 3-12 Month T-Bill ETF (BILS) is 0.06%, while VanEck IG Floating Rate ETF (FLTR) has a volatility of 0.29%. This indicates that BILS experiences smaller price fluctuations and is considered to be less risky than FLTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BILS | FLTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 0.29% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 0.14% | 0.66% | -0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.23% | 0.80% | -0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.31% | 2.13% | -1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.30% | 5.00% | -4.70% |
BILS vs. FLTR - Expense Ratio Comparison
Both BILS and FLTR 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%.
Dividends
BILS vs. FLTR - Dividend Comparison
BILS's dividend yield for the trailing twelve months is around 3.81%, less than FLTR's 4.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BILS SPDR Bloomberg 3-12 Month T-Bill ETF | 3.81% | 4.08% | 5.01% | 4.98% | 1.61% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FLTR VanEck IG Floating Rate ETF | 4.72% | 4.97% | 5.93% | 6.07% | 2.29% | 0.63% | 1.49% | 3.05% | 2.67% | 1.69% | 1.16% | 0.71% |
Frequently Asked Questions
BILS and FLTR have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLTR has higher volatility (0.29%) compared to BILS (0.06%). In terms of maximum drawdown, BILS dropped -0.41% vs FLTR's -17.84%.
On 5-year performance, FLTR leads with 4.55% vs 3.33% for BILS. Both ETFs have the same 0.14% expense ratio. On volatility, BILS has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLTR has performed better with a 4.55% return vs 3.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BILS and FLTR have the same expense ratio: 0.14% per year.
FLTR has the higher dividend yield at 4.72%, compared with 3.81% for BILS.
BILS is categorized as Ultrashort Bond, while FLTR is Corporate Bonds. BILS tracks Bloomberg 3-12 Month U.S. Treasury Bill Index, while FLTR tracks MVIS US Investment Grade Floating Rate Index. They also come from different issuers: State Street and VanEck.
BILS currently has the higher Sharpe Ratio (16.64 vs 6.56), 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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