GRNJ vs. BIL

Last updated Jun 24, 2026

GRNJ (Fundstrat Granny Shots US Small- & Mid-Cap ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - GRNJ is a Mid Cap Blend Equities fund actively managed by Fundstrat, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. GRNJ is actively managed, while BIL is passively managed. At a correlation of -0.13, they often move in opposite directions. GRNJ charges 0.75%/yr vs 0.14%/yr for BIL.

Performance

GRNJ vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fundstrat Granny Shots US Small- & Mid-Cap ETF (GRNJ) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GRNJ achieves a 22.19% return, which is significantly higher than BIL's 1.67% return.

GRNJ

• 1D: -2.56%
• 1M: 1.56%
• YTD: 22.19%
• 6M: 17.63%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BIL

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.67%
• 6M: 1.76%
• 1Y: 3.84%
• 3Y*: 4.60%
• 5Y*: 3.45%
• 10Y*: 2.20%

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

GRNJ vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025
GRNJ Fundstrat Granny Shots US Small- & Mid-Cap ETF	22.19%	6.02%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.67%	0.47%

Correlation

The correlation between GRNJ and BIL is -0.13, 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 (All Time) Calculated using the full available price history since Nov 18, 2025	-0.13

Return for Risk

GRNJ vs. BIL — Risk / Return Rank

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

GRNJ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

GRNJ vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fundstrat Granny Shots US Small- & Mid-Cap ETF (GRNJ) 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.

	GRNJ	BIL	Difference
Sharpe ratio: Return per unit of total volatility	—	19.32	—
Sortino ratio: Return per unit of downside risk	—	172.67	—
Omega ratio: Gain probability vs. loss probability	—	87.16	—
Calmar ratio: Return relative to maximum drawdown	—	352.24	—
Martin ratio: Return relative to average drawdown	—	2,793.11	—

Drawdowns

GRNJ vs. BIL - Drawdown Comparison

The maximum GRNJ drawdown since its inception was -17.32%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for GRNJ and BIL.

Drawdown Indicators

	GRNJ	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-17.32%	-0.78%	-16.54%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.01%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.09%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.21%	—
Current Drawdown Current decline from peak	-4.23%	0.00%	-4.23%
Average Drawdown Average peak-to-trough decline	-4.09%	-0.26%	-3.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	GRNJ	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	30.86%	0.20%	+30.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.86%	0.26%	+30.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.86%	0.26%	+30.60%

GRNJ vs. BIL - Expense Ratio Comparison

GRNJ has a 0.75% expense ratio, which is higher than BIL's 0.14% expense ratio.

Dividends

GRNJ vs. BIL - Dividend Comparison

GRNJ has not paid dividends to shareholders, while BIL's dividend yield for the trailing twelve months is around 3.85%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
GRNJ Fundstrat Granny Shots US Small- & Mid-Cap ETF	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

Can I hold both GRNJ and BIL in my portfolio?

GRNJ and BIL have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GRNJ or BIL?

On fees, BIL is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GRNJ or BIL?

BIL is cheaper with a 0.14% expense ratio, compared with 0.75% for GRNJ.

Which ETF pays a higher dividend yield, GRNJ or BIL?

BIL has the higher dividend yield at 3.85%, compared with 0.00% for GRNJ.

What is the main difference between GRNJ and BIL?

GRNJ is categorized as Mid Cap Blend Equities, while BIL is Government Bonds. They also come from different issuers: Fundstrat and State Street. Their fees differ too: 0.75% for GRNJ and 0.14% for BIL.