BILS vs. SPY
Compare and contrast key facts about SPDR Bloomberg 3-12 Month T-Bill ETF (BILS) and SPDR S&P 500 ETF (SPY).
BILS and SPY 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both BILS and SPY 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 SPY.
Key characteristics
| BILS | SPY | |
|---|---|---|
| YTD Return | 4.48% | 26.77% |
| 1Y Return | 5.30% | 37.43% |
| 3Y Return (Ann) | 3.42% | 10.15% |
| Sharpe Ratio | 18.26 | 3.06 |
| Sortino Ratio | 96.11 | 4.08 |
| Omega Ratio | 31.83 | 1.58 |
| Calmar Ratio | 131.32 | 4.44 |
| Martin Ratio | 1,345.95 | 20.11 |
| Ulcer Index | 0.00% | 1.85% |
| Daily Std Dev | 0.29% | 12.18% |
| Max Drawdown | -0.41% | -55.19% |
| Current Drawdown | -0.01% | -0.31% |
Correlation
The correlation between BILS and SPY is -0.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
BILS vs. SPY - Performance Comparison
In the year-to-date period, BILS achieves a 4.48% return, which is significantly lower than SPY's 26.77% return. 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. SPY - Expense Ratio Comparison
BILS has a 0.14% expense ratio, which is higher than SPY's 0.09% 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. SPY - 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 SPDR S&P 500 ETF (SPY). 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. SPY - Dividend Comparison
BILS's dividend yield for the trailing twelve months is around 5.14%, more than SPY's 1.17% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BILS SPDR Bloomberg 3-12 Month T-Bill ETF | 5.14% | 4.98% | 1.61% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.17% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
BILS vs. SPY - Drawdown Comparison
The maximum BILS drawdown since its inception was -0.41%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BILS and SPY. For additional features, visit the drawdowns tool.
Volatility
BILS vs. SPY - Volatility Comparison
The current volatility for SPDR Bloomberg 3-12 Month T-Bill ETF (BILS) is 0.08%, while SPDR S&P 500 ETF (SPY) has a volatility of 3.88%. This indicates that BILS experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.