CGUI vs. BILS

Last updated Jun 24, 2026

CGUI (Capital Group Ultra Short Income ETF) and BILS (SPDR Bloomberg 3-12 Month T-Bill ETF) are both Ultrashort Bond funds. CGUI is actively managed, while BILS is passively managed. Over the past year, CGUI returned 4.21% vs 3.84% for BILS. At a 0.18 correlation, their price movements are largely independent. CGUI charges 0.18%/yr vs 0.14%/yr for BILS.

Performance

CGUI vs. BILS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group Ultra Short Income ETF (CGUI) and SPDR Bloomberg 3-12 Month T-Bill ETF (BILS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CGUI having a 1.64% return and BILS slightly lower at 1.57%.

CGUI

• 1D: 0.06%
• 1M: 0.31%
• YTD: 1.64%
• 6M: 1.76%
• 1Y: 4.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BILS

• 1D: 0.00%
• 1M: 0.24%
• YTD: 1.57%
• 6M: 1.66%
• 1Y: 3.84%
• 3Y*: 4.61%
• 5Y*: 3.33%
• 10Y*: —

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

CGUI vs. BILS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CGUI Capital Group Ultra Short Income ETF	1.64%	4.99%	3.05%
BILS SPDR Bloomberg 3-12 Month T-Bill ETF	1.57%	4.23%	2.70%

Correlation

The correlation between CGUI and BILS 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 (All Time) Calculated using the full available price history since Jun 27, 2024	0.18

Return for Risk

CGUI vs. BILS — Risk / Return Rank

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

CGUI

CGUI Risk / Return Rank: 99
CGUI Sharpe Ratio Rank: 98
CGUI Sortino Ratio Rank: 99
CGUI Omega Ratio Rank: 98
CGUI Calmar Ratio Rank: 99
CGUI Martin Ratio Rank: 99

BILS

BILS Risk / Return Rank: 100
BILS Sharpe Ratio Rank: 100
BILS Sortino Ratio Rank: 100
BILS Omega Ratio Rank: 100
BILS Calmar Ratio Rank: 100
BILS 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.

CGUI vs. BILS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group Ultra Short Income ETF (CGUI) and SPDR Bloomberg 3-12 Month T-Bill ETF (BILS). 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.

	CGUI	BILS	Difference
Sharpe ratio: Return per unit of total volatility	5.78	16.64	-10.86
Sortino ratio: Return per unit of downside risk	10.40	87.69	-77.29
Omega ratio: Gain probability vs. loss probability	2.56	34.24	-31.68
Calmar ratio: Return relative to maximum drawdown	23.82	127.82	-104.00
Martin ratio: Return relative to average drawdown	99.46	1,285.26	-1,185.80

CGUI vs. BILS - Sharpe Ratio Comparison

The current CGUI Sharpe Ratio is 5.78, which is lower than the BILS Sharpe Ratio of 16.64. The chart below compares the historical Sharpe Ratios of CGUI and BILS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CGUI vs. BILS - Drawdown Comparison

The maximum CGUI drawdown since its inception was -0.18%, smaller than the maximum BILS drawdown of -0.41%. Use the drawdown chart below to compare losses from any high point for CGUI and BILS.

Drawdown Indicators

	CGUI	BILS	Difference
Max Drawdown Largest peak-to-trough decline	-0.18%	-0.41%	+0.23%
Max Drawdown (1Y) Largest decline over 1 year	-0.18%	-0.03%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.37%	—
Current Drawdown Current decline from peak	-0.04%	0.00%	-0.04%
Average Drawdown Average peak-to-trough decline	-0.02%	-0.04%	+0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.04%	0.00%	+0.04%

Volatility

CGUI vs. BILS - Volatility Comparison

Capital Group Ultra Short Income ETF (CGUI) has a higher volatility of 0.23% compared to SPDR Bloomberg 3-12 Month T-Bill ETF (BILS) at 0.06%. This indicates that CGUI's price experiences larger fluctuations and is considered to be riskier than BILS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGUI	BILS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.23%	0.06%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	0.56%	0.14%	+0.42%
Volatility (1Y) Calculated over the trailing 1-year period	0.73%	0.23%	+0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.80%	0.31%	+0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.80%	0.30%	+0.50%

CGUI vs. BILS - Expense Ratio Comparison

CGUI has a 0.18% expense ratio, which is higher than BILS's 0.14% 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%.

Dividends

CGUI vs. BILS - Dividend Comparison

CGUI's dividend yield for the trailing twelve months is around 3.88%, more than BILS's 3.81% yield.

Position	TTM	2025	2024	2023	2022
BILS SPDR Bloomberg 3-12 Month T-Bill ETF	3.81%	4.08%	5.01%	4.98%	1.61%
CGUI Capital Group Ultra Short Income ETF	3.88%	4.17%	2.62%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CGUI and BILS in my portfolio?

CGUI and BILS 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.

Which is riskier, CGUI or BILS?

CGUI has higher volatility (0.23%) compared to BILS (0.06%). In terms of maximum drawdown, CGUI dropped -0.18% vs BILS's -0.41%.

Which ETF is better, CGUI or BILS?

On 1-year performance, CGUI leads with 4.21% vs 3.84% for BILS. On fees, BILS is cheaper at 0.14% per year. 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.

Which ETF has performed better, CGUI or BILS?

Over the 1-year period, CGUI has performed better with a 4.21% return vs 3.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGUI or BILS?

BILS is cheaper with a 0.14% expense ratio, compared with 0.18% for CGUI.

Which ETF pays a higher dividend yield, CGUI or BILS?

CGUI has the higher dividend yield at 3.88%, compared with 3.81% for BILS.

What is the main difference between CGUI and BILS?

They also come from different issuers: Capital Group and State Street. Their fees differ too: 0.18% for CGUI and 0.14% for BILS.

Which has better risk-adjusted returns?

BILS currently has the higher Sharpe Ratio (16.64 vs 5.78), 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.