ELF.TO vs. BIL

Last updated Jun 4, 2026

ELF.TO (E-L Financial Corporation Limited) 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 10 years, ELF.TO returned 14.40%/yr vs 2.92%/yr for BIL. At a correlation of -0.05, they often move in opposite directions.

Performance

ELF.TO vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in E-L Financial Corporation Limited (ELF.TO) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ELF.TO is traded in CAD, while BIL is traded in USD. To make them comparable, the BIL values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ELF.TO achieves a 10.77% return, which is significantly higher than BIL's 2.78% return. Over the past 10 years, ELF.TO has outperformed BIL with an annualized return of 14.40%, while BIL has yielded a comparatively lower 2.92% annualized return.

ELF.TO

• 1D: -0.94%
• 1M: -0.29%
• YTD: 10.77%
• 6M: 9.29%
• 1Y: 8.07%
• 3Y*: 34.50%
• 5Y*: 21.32%
• 10Y*: 14.40%

BIL

• 1D: 0.43%
• 1M: 2.29%
• YTD: 2.78%
• 6M: 1.38%
• 1Y: 5.21%
• 3Y*: 5.85%
• 5Y*: 6.36%
• 10Y*: 2.92%

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

ELF.TO vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ELF.TO E-L Financial Corporation Limited	10.77%	37.18%	35.10%	19.15%	2.24%	30.90%	-3.31%	12.74%	-8.60%	12.14%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	2.78%	-0.63%	14.23%	2.63%	8.63%	-1.00%	-1.30%	-2.98%	10.37%	-5.73%

Correlation

The correlation between ELF.TO and BIL is -0.00, 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	-0.00
Correlation (3Y) Calculated over the trailing 3-year period	-0.00
Correlation (5Y) Calculated over the trailing 5-year period	-0.05
Correlation (10Y) Calculated over the trailing 10-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Jun 23, 2009	-0.05

Return for Risk

ELF.TO vs. BIL — Risk / Return Rank

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

ELF.TO

ELF.TO Risk / Return Rank: 52
ELF.TO Sharpe Ratio Rank: 55
ELF.TO Sortino Ratio Rank: 48
ELF.TO Omega Ratio Rank: 46
ELF.TO Calmar Ratio Rank: 56
ELF.TO Martin Ratio Rank: 56

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.

ELF.TO vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for E-L Financial Corporation Limited (ELF.TO) 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.

	ELF.TO	BIL	Difference
Sharpe ratio: Return per unit of total volatility	0.40	1.13	-0.72
Sortino ratio: Return per unit of downside risk	0.76	1.56	-0.80
Omega ratio: Gain probability vs. loss probability	1.09	1.20	-0.11
Calmar ratio: Return relative to maximum drawdown	0.68	1.40	-0.72
Martin ratio: Return relative to average drawdown	1.51	3.87	-2.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ELF.TO vs. BIL - Sharpe Ratio Comparison

The current ELF.TO Sharpe Ratio is 0.40, which is lower than the BIL Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of ELF.TO 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

	ELF.TO	BIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.40	1.13	-0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.18	1.01	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.43	+0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.31	+0.27

Drawdowns

ELF.TO vs. BIL - Drawdown Comparison

The maximum ELF.TO drawdown since its inception was -62.46%, which is greater than BIL's maximum drawdown of -19.20%. Use the drawdown chart below to compare losses from any high point for ELF.TO and BIL.

Drawdown Indicators

	ELF.TO	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-62.46%	-19.20%	-43.26%
Max Drawdown (1Y) Largest decline over 1 year	-11.89%	-3.73%	-8.16%
Max Drawdown (3Y) Largest decline over 3 years	-19.88%	-5.19%	-14.69%
Max Drawdown (5Y) Largest decline over 5 years	-19.88%	-5.19%	-14.69%
Max Drawdown (10Y) Largest decline over 10 years	-42.84%	-17.20%	-25.64%
Current Drawdown Current decline from peak	-4.47%	0.00%	-4.47%
Average Drawdown Average peak-to-trough decline	-16.40%	-8.13%	-8.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.21%	1.35%	+4.86%

Volatility

ELF.TO vs. BIL - Volatility Comparison

E-L Financial Corporation Limited (ELF.TO) has a higher volatility of 5.83% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.79%. This indicates that ELF.TO'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

	ELF.TO	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	0.79%	+5.04%
Volatility (6M) Calculated over the trailing 6-month period	12.49%	3.49%	+9.00%
Volatility (1Y) Calculated over the trailing 1-year period	21.19%	4.65%	+16.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.45%	6.36%	+20.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.60%	6.77%	+17.83%

Dividends

ELF.TO vs. BIL - Dividend Comparison

ELF.TO's dividend yield for the trailing twelve months is around 7.16%, more than BIL's 3.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
ELF.TO E-L Financial Corporation Limited	7.16%	10.19%	5.66%	1.43%	3.91%	9.76%	3.92%	0.60%	0.68%	0.61%	0.68%	0.07%

Frequently Asked Questions

Can I hold both ELF.TO and BIL in my portfolio?

ELF.TO and BIL have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.