FLTB vs. BIL
FLTB (Fidelity Limited Term Bond ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - FLTB is a Short-Term Bond fund actively managed by Fidelity, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. FLTB is actively managed, while BIL is passively managed. Over the past 10 years, FLTB returned 2.44%/yr vs 2.20%/yr for BIL. At a 0.03 correlation, their price movements are largely independent. FLTB charges 0.25%/yr vs 0.14%/yr for BIL.
Performance
FLTB vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, FLTB achieves a 0.82% return, which is significantly lower than BIL's 1.66% return. Over the past 10 years, FLTB has outperformed BIL with an annualized return of 2.44%, while BIL has yielded a comparatively lower 2.20% annualized return.
FLTB
- 1D
- -0.06%
- 1M
- 0.32%
- YTD
- 0.82%
- 6M
- 0.86%
- 1Y
- 4.26%
- 3Y*
- 5.58%
- 5Y*
- 2.30%
- 10Y*
- 2.44%
BIL
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 1.66%
- 6M
- 1.75%
- 1Y
- 3.85%
- 3Y*
- 4.60%
- 5Y*
- 3.45%
- 10Y*
- 2.20%
FLTB vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLTB Fidelity Limited Term Bond ETF | 0.82% | 6.60% | 5.14% | 5.94% | -5.88% | -1.20% | 5.57% | 5.87% | 1.06% | 2.10% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.66% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Correlation
The correlation between FLTB and BIL is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2014 | 0.03 |
The correlation between FLTB and BIL shifts across timeframes, from -0.18 (1 year) to 0.05 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FLTB vs. BIL — Risk / Return Rank
FLTB
BIL
FLTB vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Limited Term Bond ETF (FLTB) 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.
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.
| FLTB | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.33 | ||
| Sortino ratioReturn per unit of downside risk | -170.03 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 87.41 | -86.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 353.28 | -350.48 |
| Martin ratioReturn relative to average drawdown | 11.71 | 2,801.35 | -2,789.63 |
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Drawdowns
FLTB vs. BIL - Drawdown Comparison
The maximum FLTB drawdown since its inception was -9.37%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for FLTB and BIL.
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Drawdown Indicators
| FLTB | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.37% | -0.78% | -8.59% |
Max Drawdown (1Y)Largest decline over 1 year | -1.52% | -0.01% | -1.51% |
Max Drawdown (3Y)Largest decline over 3 years | -1.52% | -0.01% | -1.51% |
Max Drawdown (5Y)Largest decline over 5 years | -9.26% | -0.09% | -9.17% |
Max Drawdown (10Y)Largest decline over 10 years | -9.37% | -0.21% | -9.16% |
Current DrawdownCurrent decline from peak | -0.28% | 0.00% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -1.39% | -0.26% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 0.00% | +0.36% |
Volatility
FLTB vs. BIL - Volatility Comparison
Fidelity Limited Term Bond ETF (FLTB) has a higher volatility of 0.57% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.07%. This indicates that FLTB'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
| FLTB | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 0.07% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 1.66% | 0.14% | +1.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.10% | 0.20% | +1.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.81% | 0.26% | +2.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.94% | 0.26% | +2.68% |
FLTB vs. BIL - Expense Ratio Comparison
FLTB has a 0.25% 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
FLTB vs. BIL - Dividend Comparison
FLTB's dividend yield for the trailing twelve months is around 4.36%, more than BIL's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 3.85% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% | 0.00% |
FLTB Fidelity Limited Term Bond ETF | 4.36% | 4.31% | 4.11% | 3.20% | 1.63% | 0.89% | 1.56% | 2.67% | 2.50% | 1.78% | 1.59% | 1.63% |
Frequently Asked Questions
FLTB and BIL have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLTB has higher volatility (0.57%) compared to BIL (0.07%). In terms of maximum drawdown, FLTB dropped -9.37% vs BIL's -0.78%.
On 10-year performance, FLTB leads with 2.44% vs 2.20% for BIL. On fees, BIL is cheaper at 0.14% per year. On volatility, BIL has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FLTB has performed better with a 2.44% return vs 2.20%. 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 0.25% for FLTB.
FLTB has the higher dividend yield at 4.36%, compared with 3.85% for BIL.
FLTB is categorized as Short-Term Bond, while BIL is Government Bonds. They also come from different issuers: Fidelity and State Street. Their fees differ too: 0.25% for FLTB and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.37 vs 2.04), 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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