EFAX vs. BIL
EFAX (SPDR MSCI EAFE Fossil Fuel Free ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - EFAX is a Foreign Large Cap Equities fund tracking the MSCI EAFE ex Fossil Fuels Index, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. Over the past 5 years, EFAX returned 7.48%/yr vs 3.41%/yr for BIL. At a correlation of -0.02, they often move in opposite directions. EFAX charges 0.20%/yr vs 0.14%/yr for BIL.
Performance
EFAX vs. BIL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EFAX achieves a 6.64% return, which is significantly higher than BIL's 1.49% return.
EFAX
- 1D
- -0.83%
- 1M
- 3.93%
- YTD
- 6.64%
- 6M
- 9.20%
- 1Y
- 18.68%
- 3Y*
- 16.03%
- 5Y*
- 7.48%
- 10Y*
- —
BIL
- 1D
- 0.02%
- 1M
- 0.28%
- YTD
- 1.49%
- 6M
- 1.77%
- 1Y
- 3.87%
- 3Y*
- 4.64%
- 5Y*
- 3.41%
- 10Y*
- 2.18%
EFAX vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF | 6.64% | 31.30% | 4.78% | 18.02% | -16.72% | 10.50% | 9.57% | 23.52% | -14.78% | 23.93% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.49% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Correlation
The correlation between EFAX and BIL 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 (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2016 | -0.02 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EFAX vs. BIL — Risk / Return Rank
EFAX
BIL
EFAX vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI EAFE Fossil Fuel Free ETF (EFAX) 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.
| EFAX | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.51 | ||
| Sortino ratioReturn per unit of downside risk | -172.39 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 87.91 | -86.69 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 355.35 | -353.84 |
| Martin ratioReturn relative to average drawdown | 5.61 | 2,817.77 | -2,812.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| EFAX | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 19.71 | -18.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 13.16 | -12.71 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 8.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 2.78 | -2.25 |
Drawdowns
EFAX vs. BIL - Drawdown Comparison
The maximum EFAX drawdown since its inception was -32.53%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for EFAX and BIL.
Loading charts...
Drawdown Indicators
| EFAX | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.53% | -0.78% | -31.75% |
Max Drawdown (1Y)Largest decline over 1 year | -12.38% | -0.01% | -12.37% |
Max Drawdown (3Y)Largest decline over 3 years | -13.52% | -0.01% | -13.51% |
Max Drawdown (5Y)Largest decline over 5 years | -31.67% | -0.10% | -31.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.21% | — |
Current DrawdownCurrent decline from peak | -1.83% | 0.00% | -1.83% |
Average DrawdownAverage peak-to-trough decline | -6.97% | -0.26% | -6.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.34% | 0.00% | +3.34% |
Volatility
EFAX vs. BIL - Volatility Comparison
SPDR MSCI EAFE Fossil Fuel Free ETF (EFAX) has a higher volatility of 5.24% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that EFAX'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.
Loading charts...
Volatility by Period
| EFAX | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.24% | 0.05% | +5.19% |
Volatility (6M)Calculated over the trailing 6-month period | 13.11% | 0.13% | +12.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.67% | 0.20% | +15.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.66% | 0.26% | +16.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.10% | 0.26% | +16.84% |
EFAX vs. BIL - Expense Ratio Comparison
EFAX has a 0.20% expense ratio, which is higher than BIL'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
EFAX vs. BIL - Dividend Comparison
EFAX's dividend yield for the trailing twelve months is around 3.22%, less 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% |
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF | 3.22% | 3.31% | 2.74% | 2.71% | 2.81% | 2.58% | 1.69% | 2.71% | 3.05% | 2.89% | 0.26% |
Frequently Asked Questions
EFAX and BIL 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.
EFAX has higher volatility (5.24%) compared to BIL (0.05%). In terms of maximum drawdown, EFAX dropped -32.53% vs BIL's -0.78%.
On 5-year performance, EFAX leads with 7.48% vs 3.41% for BIL. On fees, BIL is cheaper at 0.14% per year. On volatility, BIL has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EFAX has performed better with a 7.48% return vs 3.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BIL is cheaper with a 0.14% expense ratio, compared with 0.20% for EFAX.
BIL has the higher dividend yield at 3.86%, compared with 3.22% for EFAX.
EFAX is categorized as Foreign Large Cap Equities, while BIL is Government Bonds. EFAX tracks MSCI EAFE ex Fossil Fuels Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. Their fees differ too: 0.20% for EFAX and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.71 vs 1.20), 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.
Find the right allocation for EFAX and BIL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer