FNMA vs. BIL
FNMA (Federal National Mortgage Association) 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, FNMA returned 11.45%/yr vs 2.24%/yr for BIL. Their -0.00 correlation means they have often moved in opposite directions in the past.
Performance
FNMA vs. BIL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FNMA achieves a -46.04% return, which is significantly lower than BIL's 2.08% return. Over the past 10 years, FNMA has outperformed BIL with an annualized return of 11.45%, while BIL has yielded a comparatively lower 2.24% annualized return.
FNMA
- 1D
- -3.50%
- 1M
- -5.39%
- 6M
- -29.30%
- YTD
- -46.04%
- 1Y
- -34.48%
- 3Y*
- 130.95%
- 5Y*
- 35.66%
- 10Y*
- 11.45%
- ALL TIME*
- 4.65%
BIL
- 1D
- 0.03%
- 1M
- 0.26%
- 6M
- 1.78%
- YTD
- 2.08%
- 1Y
- 3.76%
- 3Y*
- 4.56%
- 5Y*
- 3.54%
- 10Y*
- 2.24%
- ALL TIME*
- 1.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $778.54M | $838.53M | $900.58M | |
| $23.10M | $22.70M | $28.43M |
FNMA vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNMA Federal National Mortgage Association | -46.04% | 227.13% | 206.54% | 202.77% | -56.90% | -65.69% | -23.40% | 194.34% | -60.00% | -32.05% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 2.08% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Correlation
The correlation between FNMA and BIL is 0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.01 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.01 |
Correlation (All Time) Calculated using the full available price history since May 30, 2007 | -0.00 |
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
FNMA vs. BIL — Risk / Return Rank
FNMA
BIL
FNMA vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federal National Mortgage Association (FNMA) 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.
| FNMA | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -19.43 | ||
| Sortino ratioReturn per unit of downside risk | -153.01 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 69.35 | -68.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 349.28 | -349.68 |
| Martin ratioReturn relative to average drawdown | -0.65 | 2,476.90 | -2,477.55 |
Loading charts...
Drawdowns
FNMA vs. BIL - Drawdown Comparison
The maximum FNMA drawdown since its inception was -99.74%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for FNMA and BIL.
Loading charts...
Drawdown Indicators
| FNMA | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.74% | -0.78% | -98.96% |
Max Drawdown (1Y)Largest decline over 1 year | -69.76% | -0.01% | -69.75% |
Max Drawdown (3Y)Largest decline over 3 years | -69.76% | -0.01% | -69.75% |
Max Drawdown (5Y)Largest decline over 5 years | -71.73% | -0.08% | -71.65% |
Max Drawdown (10Y)Largest decline over 10 years | -92.13% | -0.21% | -91.92% |
Current DrawdownCurrent decline from peak | -92.09% | 0.00% | -92.09% |
Average DrawdownAverage peak-to-trough decline | -46.30% | -0.26% | -46.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.96% | 0.00% | +42.96% |
Volatility
FNMA vs. BIL - Volatility Comparison
Federal National Mortgage Association (FNMA) has a higher volatility of 13.74% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.07%. This indicates that FNMA'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
| FNMA | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.74% | 0.07% | +13.67% |
Volatility (6M)Calculated over the trailing 6-month period | 65.68% | 0.14% | +65.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 93.13% | 0.20% | +92.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.78% | 0.26% | +90.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.10% | 0.26% | +81.84% |
Dividends
FNMA vs. BIL - Dividend Comparison
FNMA has not paid dividends to shareholders, while BIL's dividend yield for the trailing twelve months is around 3.81%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 3.46% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% |
FNMA Federal National Mortgage Association | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FNMA and BIL have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNMA has higher volatility (13.74%) compared to BIL (0.07%). In terms of maximum drawdown, FNMA dropped -99.74% vs BIL's -0.78%.
BIL currently has the higher Sharpe Ratio (19.13 vs -0.30), 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 FNMA 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