CRE.L vs. BIL

Last updated Jun 4, 2026

CRE.L (Conduit Holdings Ltd) is a stock, while BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) is Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Over the past 5 years, CRE.L returned 2.66%/yr vs 4.52%/yr for BIL. At a correlation of -0.07, they often move in opposite directions.

Performance

CRE.L vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Conduit Holdings Ltd (CRE.L) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CRE.L is traded in GBp, while BIL is traded in USD. To make them comparable, the BIL values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, CRE.L achieves a 10.97% return, which is significantly higher than BIL's 1.86% return.

CRE.L

• 1D: -1.40%
• 1M: -3.98%
• YTD: 10.97%
• 6M: 26.80%
• 1Y: 17.44%
• 3Y*: 1.28%
• 5Y*: 2.66%
• 10Y*: —

BIL

• 1D: 0.29%
• 1M: 1.10%
• YTD: 1.86%
• 6M: 1.23%
• 1Y: 4.60%
• 3Y*: 2.05%
• 5Y*: 4.52%
• 10Y*: 2.98%

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

CRE.L vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CRE.L Conduit Holdings Ltd	10.97%	-9.04%	5.36%	16.46%	6.86%	-12.64%	-0.39%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.86%	-3.27%	7.03%	-0.30%	13.46%	0.85%	-2.15%

Correlation

The correlation between CRE.L and BIL is -0.06, 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	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	-0.10
Correlation (5Y) Calculated over the trailing 5-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020	-0.07

Return for Risk

CRE.L vs. BIL — Risk / Return Rank

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

CRE.L

CRE.L Risk / Return Rank: 55
CRE.L Sharpe Ratio Rank: 59
CRE.L Sortino Ratio Rank: 50
CRE.L Omega Ratio Rank: 56
CRE.L Calmar Ratio Rank: 55
CRE.L Martin Ratio Rank: 58

BIL

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

CRE.L vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Conduit Holdings Ltd (CRE.L) 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.

	CRE.L	BIL	Difference
Sharpe ratio: Return per unit of total volatility	0.51	0.70	-0.19
Sortino ratio: Return per unit of downside risk	0.81	1.03	-0.23
Omega ratio: Gain probability vs. loss probability	1.14	1.12	+0.02
Calmar ratio: Return relative to maximum drawdown	0.63	0.89	-0.26
Martin ratio: Return relative to average drawdown	1.65	2.42	-0.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CRE.L vs. BIL - Sharpe Ratio Comparison

The current CRE.L Sharpe Ratio is 0.51, which is comparable to the BIL Sharpe Ratio of 0.70. The chart below compares the historical Sharpe Ratios of CRE.L and BIL, 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

	CRE.L	BIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.51	0.70	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.53	-0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.36	-0.26

Drawdowns

CRE.L vs. BIL - Drawdown Comparison

The maximum CRE.L drawdown since its inception was -45.61%, which is greater than BIL's maximum drawdown of -20.05%. Use the drawdown chart below to compare losses from any high point for CRE.L and BIL.

Drawdown Indicators

	CRE.L	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-45.61%	-20.05%	-25.56%
Max Drawdown (1Y) Largest decline over 1 year	-27.66%	-5.19%	-22.47%
Max Drawdown (3Y) Largest decline over 3 years	-45.61%	-9.84%	-35.77%
Max Drawdown (5Y) Largest decline over 5 years	-45.61%	-15.90%	-29.71%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.34%	—
Current Drawdown Current decline from peak	-13.39%	-6.29%	-7.10%
Average Drawdown Average peak-to-trough decline	-15.34%	-9.41%	-5.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.54%	1.91%	+8.63%

Volatility

CRE.L vs. BIL - Volatility Comparison

Conduit Holdings Ltd (CRE.L) has a higher volatility of 6.81% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 1.79%. This indicates that CRE.L's price experiences larger fluctuations and is considered to be riskier than BIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRE.L	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.81%	1.79%	+5.02%
Volatility (6M) Calculated over the trailing 6-month period	18.68%	5.00%	+13.68%
Volatility (1Y) Calculated over the trailing 1-year period	34.24%	6.61%	+27.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.76%	8.56%	+18.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.95%	9.49%	+16.46%

Dividends

CRE.L vs. BIL - Dividend Comparison

CRE.L's dividend yield for the trailing twelve months is around 6.15%, more than BIL's 3.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	3.86%	4.13%	5.03%	4.92%	1.35%	0.00%	0.30%	2.05%	1.66%	0.68%	0.07%
CRE.L Conduit Holdings Ltd	6.15%	6.88%	5.85%	6.00%	6.26%	3.10%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CRE.L and BIL in my portfolio?

CRE.L and BIL have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.