BNY vs. TBIL

Last updated Jun 4, 2026

BNY (The Bank of New York Mellon Corporation) is a stock, while TBIL (US Treasury 3 Month Bill ETF) is Ultrashort Bond fund tracking the ICE BofA US Treasury Bill 3 Month Index. Over the past 3 years, BNY returned 52.65%/yr vs 4.63%/yr for TBIL. At a 0.03 correlation, their price movements are largely independent.

Performance

BNY vs. TBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Bank of New York Mellon Corporation (BNY) and US Treasury 3 Month Bill ETF (TBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNY achieves a 22.11% return, which is significantly higher than TBIL's 1.51% return.

BNY

• 1D: -0.50%
• 1M: 6.59%
• YTD: 22.11%
• 6M: 25.35%
• 1Y: 60.34%
• 3Y*: 52.65%
• 5Y*: 25.33%
• 10Y*: 15.90%

TBIL

• 1D: 0.02%
• 1M: 0.28%
• YTD: 1.51%
• 6M: 1.78%
• 1Y: 3.93%
• 3Y*: 4.63%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BNY vs. TBIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BNY The Bank of New York Mellon Corporation	22.11%	54.45%	51.90%	18.52%	6.34%
TBIL US Treasury 3 Month Bill ETF	1.51%	4.19%	5.15%	5.12%	1.30%

Correlation

The correlation between BNY and TBIL is -0.04, 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	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022	0.03

Return for Risk

BNY vs. TBIL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BNY

BNY Risk / Return Rank: 94
BNY Sharpe Ratio Rank: 95
BNY Sortino Ratio Rank: 93
BNY Omega Ratio Rank: 93
BNY Calmar Ratio Rank: 93
BNY Martin Ratio Rank: 94

TBIL

TBIL Risk / Return Rank: 100
TBIL Sharpe Ratio Rank: 100
TBIL Sortino Ratio Rank: 100
TBIL Omega Ratio Rank: 100
TBIL Calmar Ratio Rank: 100
TBIL Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BNY vs. TBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Bank of New York Mellon Corporation (BNY) and US Treasury 3 Month Bill ETF (TBIL). 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.

	BNY	TBIL	Difference
Sharpe ratio: Return per unit of total volatility	3.06	13.78	-10.71
Sortino ratio: Return per unit of downside risk	3.78	58.40	-54.62
Omega ratio: Gain probability vs. loss probability	1.50	17.16	-15.66
Calmar ratio: Return relative to maximum drawdown	5.98	196.84	-190.86
Martin ratio: Return relative to average drawdown	16.93	934.40	-917.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BNY vs. TBIL - Sharpe Ratio Comparison

The current BNY Sharpe Ratio is 3.06, which is lower than the TBIL Sharpe Ratio of 13.78. The chart below compares the historical Sharpe Ratios of BNY and TBIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BNY	TBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.06	13.78	-10.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.04	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	14.08	-13.72

Drawdowns

BNY vs. TBIL - Drawdown Comparison

The maximum BNY drawdown since its inception was -72.28%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for BNY and TBIL.

Drawdown Indicators

	BNY	TBIL	Difference
Max Drawdown Largest peak-to-trough decline	-72.28%	-0.10%	-72.18%
Max Drawdown (1Y) Largest decline over 1 year	-10.15%	-0.02%	-10.13%
Max Drawdown (3Y) Largest decline over 3 years	-17.58%	-0.02%	-17.56%
Max Drawdown (5Y) Largest decline over 5 years	-40.45%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-50.49%	—	—
Current Drawdown Current decline from peak	-1.42%	0.00%	-1.42%
Average Drawdown Average peak-to-trough decline	-18.72%	-0.00%	-18.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	0.00%	+3.58%

Volatility

BNY vs. TBIL - Volatility Comparison

The Bank of New York Mellon Corporation (BNY) has a higher volatility of 4.87% compared to US Treasury 3 Month Bill ETF (TBIL) at 0.08%. This indicates that BNY's price experiences larger fluctuations and is considered to be riskier than TBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNY	TBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	0.08%	+4.79%
Volatility (6M) Calculated over the trailing 6-month period	15.73%	0.19%	+15.54%
Volatility (1Y) Calculated over the trailing 1-year period	19.79%	0.29%	+19.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.58%	0.32%	+24.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.04%	0.32%	+26.72%

Dividends

BNY vs. TBIL - Dividend Comparison

BNY's dividend yield for the trailing twelve months is around 1.51%, less than TBIL's 3.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BNY The Bank of New York Mellon Corporation	1.51%	1.72%	2.32%	3.04%	3.12%	2.24%	2.92%	2.34%	2.21%	1.60%	1.52%	1.65%
TBIL US Treasury 3 Month Bill ETF	3.82%	4.07%	5.02%	5.00%	1.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BNY and TBIL in my portfolio?

BNY and TBIL have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BNY or TBIL?

BNY has higher volatility (4.87%) compared to TBIL (0.08%). In terms of maximum drawdown, BNY dropped -72.28% vs TBIL's -0.10%.

Which has better risk-adjusted returns?

TBIL currently has the higher Sharpe Ratio (13.78 vs 3.06), 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.