GRNY vs. BIL

Last updated Jun 9, 2026

GRNY (Fundstrat Granny Shots U.S. Large Cap ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - GRNY is a Large Cap Blend Equities fund actively managed by Tidal ETFs, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. GRNY is actively managed, while BIL is passively managed. Over the past year, GRNY returned 26.59% vs 3.88% for BIL. At a correlation of -0.05, they often move in opposite directions. GRNY charges 0.75%/yr vs 0.14%/yr for BIL.

Performance

GRNY vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fundstrat Granny Shots U.S. Large Cap ETF (GRNY) 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, GRNY achieves a 9.21% return, which is significantly higher than BIL's 1.54% return.

GRNY

• 1D: 0.52%
• 1M: 0.19%
• YTD: 9.21%
• 6M: 7.56%
• 1Y: 26.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BIL

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.54%
• 6M: 1.78%
• 1Y: 3.88%
• 3Y*: 4.62%
• 5Y*: 3.42%
• 10Y*: 2.19%

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

GRNY vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GRNY Fundstrat Granny Shots U.S. Large Cap ETF	9.21%	24.05%	-1.09%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.54%	4.15%	0.68%

Correlation

The correlation between GRNY and BIL is -0.06, 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	-0.06
Correlation (All Time) Calculated using the full available price history since Nov 8, 2024	-0.05

Return for Risk

GRNY vs. BIL — Risk / Return Rank

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

GRNY

GRNY Risk / Return Rank: 47
GRNY Sharpe Ratio Rank: 47
GRNY Sortino Ratio Rank: 45
GRNY Omega Ratio Rank: 44
GRNY Calmar Ratio Rank: 51
GRNY Martin Ratio Rank: 46

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.

GRNY vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fundstrat Granny Shots U.S. Large Cap ETF (GRNY) 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.

	GRNY	BIL	Difference
Sharpe ratio: Return per unit of total volatility	1.50	19.64	-18.14
Sortino ratio: Return per unit of downside risk	2.03	174.66	-172.63
Omega ratio: Gain probability vs. loss probability	1.26	88.16	-86.90
Calmar ratio: Return relative to maximum drawdown	2.30	356.40	-354.10
Martin ratio: Return relative to average drawdown	7.00	2,826.06	-2,819.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GRNY vs. BIL - Sharpe Ratio Comparison

The current GRNY Sharpe Ratio is 1.50, which is lower than the BIL Sharpe Ratio of 19.64. The chart below compares the historical Sharpe Ratios of GRNY 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

	GRNY	BIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	19.64	-18.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	13.23	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	8.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	2.78	-1.89

Drawdowns

GRNY vs. BIL - Drawdown Comparison

The maximum GRNY drawdown since its inception was -24.18%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for GRNY and BIL.

Drawdown Indicators

	GRNY	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-24.18%	-0.78%	-23.40%
Max Drawdown (1Y) Largest decline over 1 year	-11.63%	-0.01%	-11.62%
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	-2.59%	0.00%	-2.59%
Average Drawdown Average peak-to-trough decline	-4.01%	-0.26%	-3.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.81%	0.00%	+3.81%

Volatility

GRNY vs. BIL - Volatility Comparison

Fundstrat Granny Shots U.S. Large Cap ETF (GRNY) has a higher volatility of 5.02% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.06%. This indicates that GRNY'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

	GRNY	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.02%	0.06%	+4.96%
Volatility (6M) Calculated over the trailing 6-month period	13.09%	0.14%	+12.95%
Volatility (1Y) Calculated over the trailing 1-year period	17.86%	0.20%	+17.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.25%	0.26%	+22.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.25%	0.26%	+22.99%

GRNY vs. BIL - Expense Ratio Comparison

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

Dividends

GRNY vs. BIL - Dividend Comparison

GRNY has not paid dividends to shareholders, while BIL's dividend yield for the trailing twelve months is around 3.86%.

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%
GRNY Fundstrat Granny Shots U.S. Large 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 GRNY and BIL in my portfolio?

GRNY and BIL have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GRNY or BIL?

GRNY has higher volatility (5.02%) compared to BIL (0.06%). In terms of maximum drawdown, GRNY dropped -24.18% vs BIL's -0.78%.

Which ETF is better, GRNY or BIL?

On 1-year performance, GRNY leads with 26.59% vs 3.88% for BIL. On fees, BIL is cheaper at 0.14% per year. On volatility, BIL has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GRNY or BIL?

Over the 1-year period, GRNY has performed better with a 26.59% return vs 3.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GRNY or BIL?

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

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

BIL has the higher dividend yield at 3.86%, compared with 0.00% for GRNY.

What is the main difference between GRNY and BIL?

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

Which has better risk-adjusted returns?

BIL currently has the higher Sharpe Ratio (19.64 vs 1.50), 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.