BTOT vs. BIL
BTOT (iShares Total USD Fixed Income Market ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - BTOT is a Total Bond Market fund tracking the Bloomberg US Total Fixed Income Market Index, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. At a correlation of -0.22, they often move in opposite directions. BTOT charges 0.09%/yr vs 0.14%/yr for BIL.
Performance
BTOT vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, BTOT achieves a 1.04% return, which is significantly lower than BIL's 1.69% return.
BTOT
- 1D
- 0.42%
- 1M
- 1.09%
- YTD
- 1.04%
- 6M
- 0.97%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BIL
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.69%
- 6M
- 1.74%
- 1Y
- 3.85%
- 3Y*
- 4.61%
- 5Y*
- 3.45%
- 10Y*
- 2.20%
BTOT vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BTOT iShares Total USD Fixed Income Market ETF | 1.04% | 0.12% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.69% | 0.21% |
Correlation
The correlation between BTOT and BIL is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025 | -0.22 |
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Return for Risk
BTOT vs. BIL — Risk / Return Rank
BTOT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BIL
BTOT vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Total USD Fixed Income Market ETF (BTOT) and SPDR Bloomberg 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.
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.
| BTOT | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 87.41 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 353.28 | — |
| Martin ratioReturn relative to average drawdown | — | 2,801.36 | — |
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Drawdowns
BTOT vs. BIL - Drawdown Comparison
The maximum BTOT drawdown since its inception was -2.36%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for BTOT and BIL.
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Drawdown Indicators
| BTOT | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.36% | -0.78% | -1.58% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.01% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.01% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.09% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.21% | — |
Current DrawdownCurrent decline from peak | -0.54% | 0.00% | -0.54% |
Average DrawdownAverage peak-to-trough decline | -0.79% | -0.26% | -0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.00% | — |
Volatility
BTOT vs. BIL - Volatility Comparison
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Volatility by Period
| BTOT | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.07% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.14% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 0.20% | +3.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.73% | 0.26% | +3.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.73% | 0.26% | +3.47% |
BTOT vs. BIL - Expense Ratio Comparison
BTOT has a 0.09% expense ratio, which is lower than BIL's 0.14% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BTOT vs. BIL - Dividend Comparison
BTOT's dividend yield for the trailing twelve months is around 2.11%, less than BIL's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 3.85% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% |
BTOT iShares Total USD Fixed Income Market ETF | 2.11% | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTOT and BIL have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BTOT is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTOT is cheaper with a 0.09% expense ratio, compared with 0.14% for BIL.
BIL has the higher dividend yield at 3.85%, compared with 2.11% for BTOT.
BTOT is categorized as Total Bond Market, while BIL is Government Bonds. BTOT tracks Bloomberg US Total Fixed Income Market Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.09% for BTOT and 0.14% for BIL.
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