EMNT vs. BIL
EMNT (PIMCO Enhanced Short Maturity Active ESG ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - EMNT is a Ultrashort Bond fund actively managed by PIMCO, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. EMNT is actively managed, while BIL is passively managed. Over the past 5 years, EMNT returned 3.43%/yr vs 3.41%/yr for BIL. At a 0.22 correlation, their price movements are largely independent. EMNT charges 0.24%/yr vs 0.14%/yr for BIL.
Performance
EMNT vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, EMNT achieves a 1.64% return, which is significantly higher than BIL's 1.49% return.
EMNT
- 1D
- -0.02%
- 1M
- 0.39%
- YTD
- 1.64%
- 6M
- 1.97%
- 1Y
- 4.38%
- 3Y*
- 5.24%
- 5Y*
- 3.43%
- 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%
EMNT vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMNT PIMCO Enhanced Short Maturity Active ESG ETF | 1.64% | 4.74% | 5.79% | 5.84% | -0.57% | 0.11% | 2.08% | 0.09% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.49% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 0.05% |
Correlation
The correlation between EMNT and BIL is 0.10, 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 | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2019 | 0.22 |
The correlation between EMNT and BIL shifts across timeframes, from 0.10 (1 year) to 0.25 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EMNT vs. BIL — Risk / Return Rank
EMNT
BIL
EMNT vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Enhanced Short Maturity Active ESG ETF (EMNT) 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.
| EMNT | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.08 | ||
| Sortino ratioReturn per unit of downside risk | -152.99 | ||
| Omega ratioGain probability vs. loss probability | 5.63 | 87.91 | -82.28 |
| Calmar ratioReturn relative to maximum drawdown | 33.45 | 355.35 | -321.90 |
| Martin ratioReturn relative to average drawdown | 235.99 | 2,817.77 | -2,581.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMNT | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 10.63 | 19.71 | -9.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 4.18 | 13.16 | -8.98 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 8.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.51 | 2.78 | +0.73 |
Drawdowns
EMNT vs. BIL - Drawdown Comparison
The maximum EMNT drawdown since its inception was -2.28%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for EMNT and BIL.
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Drawdown Indicators
| EMNT | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.28% | -0.78% | -1.50% |
Max Drawdown (1Y)Largest decline over 1 year | -0.13% | -0.01% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -0.73% | -0.01% | -0.72% |
Max Drawdown (5Y)Largest decline over 5 years | -1.70% | -0.10% | -1.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.21% | — |
Current DrawdownCurrent decline from peak | -0.02% | 0.00% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.23% | -0.26% | +0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.00% | +0.02% |
Volatility
EMNT vs. BIL - Volatility Comparison
PIMCO Enhanced Short Maturity Active ESG ETF (EMNT) has a higher volatility of 0.14% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that EMNT'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.
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Volatility by Period
| EMNT | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.14% | 0.05% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 0.34% | 0.13% | +0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.41% | 0.20% | +0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.83% | 0.26% | +0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.86% | 0.26% | +0.60% |
EMNT vs. BIL - Expense Ratio Comparison
EMNT has a 0.24% 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
EMNT vs. BIL - Dividend Comparison
EMNT's dividend yield for the trailing twelve months is around 4.00%, 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% |
EMNT PIMCO Enhanced Short Maturity Active ESG ETF | 4.00% | 4.46% | 5.14% | 4.62% | 2.79% | 0.66% | 1.44% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMNT and BIL have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMNT has higher volatility (0.14%) compared to BIL (0.05%). In terms of maximum drawdown, EMNT dropped -2.28% vs BIL's -0.78%.
On 5-year performance, EMNT leads with 3.43% vs 3.41% for BIL. On fees, BIL is cheaper at 0.14% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EMNT has performed better with a 3.43% 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 0.24% for EMNT.
EMNT has the higher dividend yield at 4.00%, compared with 3.86% for BIL.
EMNT is categorized as Ultrashort Bond, while BIL is Government Bonds. They also come from different issuers: PIMCO and State Street. Their fees differ too: 0.24% for EMNT and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.71 vs 10.63), 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.
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