HYMB vs. BIL
HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - HYMB is a Municipal Bonds fund tracking the Bloomberg Municipal Yield, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. Over the past 10 years, HYMB returned 2.46%/yr vs 2.18%/yr for BIL. At a 0.01 correlation, their price movements are largely independent. HYMB charges 0.35%/yr vs 0.14%/yr for BIL.
Performance
HYMB vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, HYMB achieves a 2.87% return, which is significantly higher than BIL's 1.49% return. Over the past 10 years, HYMB has outperformed BIL with an annualized return of 2.46%, while BIL has yielded a comparatively lower 2.18% annualized return.
HYMB
- 1D
- -0.04%
- 1M
- 1.19%
- YTD
- 2.87%
- 6M
- 3.18%
- 1Y
- 7.43%
- 3Y*
- 5.09%
- 5Y*
- 0.42%
- 10Y*
- 2.46%
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%
HYMB vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 2.87% | 2.04% | 5.52% | 7.73% | -15.54% | 5.16% | 3.74% | 9.51% | 4.91% | 3.22% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.49% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Correlation
The correlation between HYMB and BIL is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2011 | 0.01 |
The correlation between HYMB and BIL shifts across timeframes, from -0.11 (1 year) to 0.03 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYMB vs. BIL — Risk / Return Rank
HYMB
BIL
HYMB vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) 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.
| HYMB | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.87 | ||
| Sortino ratioReturn per unit of downside risk | -171.53 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 87.91 | -86.53 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 355.35 | -352.95 |
| Martin ratioReturn relative to average drawdown | 8.51 | 2,817.77 | -2,809.26 |
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
| HYMB | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.84 | 19.71 | -17.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | 13.16 | -13.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 8.52 | -8.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 2.78 | -2.33 |
Drawdowns
HYMB vs. BIL - Drawdown Comparison
The maximum HYMB drawdown since its inception was -29.57%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for HYMB and BIL.
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Drawdown Indicators
| HYMB | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.57% | -0.78% | -28.79% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -0.01% | -3.10% |
Max Drawdown (3Y)Largest decline over 3 years | -7.44% | -0.01% | -7.43% |
Max Drawdown (5Y)Largest decline over 5 years | -20.15% | -0.10% | -20.05% |
Max Drawdown (10Y)Largest decline over 10 years | -29.57% | -0.21% | -29.36% |
Current DrawdownCurrent decline from peak | -0.04% | 0.00% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -3.81% | -0.26% | -3.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.00% | +0.88% |
Volatility
HYMB vs. BIL - Volatility Comparison
SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) has a higher volatility of 1.35% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that HYMB'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
| HYMB | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 0.05% | +1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 0.13% | +3.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 0.20% | +3.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.66% | 0.26% | +6.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.36% | 0.26% | +11.10% |
HYMB vs. BIL - Expense Ratio Comparison
HYMB has a 0.35% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
HYMB vs. BIL - Dividend Comparison
HYMB's dividend yield for the trailing twelve months is around 4.54%, more than BIL's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 4.54% | 4.55% | 4.29% | 4.07% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% |
Frequently Asked Questions
HYMB and BIL have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYMB has higher volatility (1.35%) compared to BIL (0.05%). In terms of maximum drawdown, HYMB dropped -29.57% vs BIL's -0.78%.
On 10-year performance, HYMB leads with 2.46% vs 2.18% for BIL. On fees, BIL is cheaper at 0.14% per year. On volatility, BIL has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HYMB has performed better with a 2.46% return vs 2.18%. 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 0.35% for HYMB.
HYMB has the higher dividend yield at 4.54%, compared with 3.86% for BIL.
HYMB is categorized as Municipal Bonds, while BIL is Government Bonds. HYMB tracks Bloomberg Municipal Yield, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. Their fees differ too: 0.35% for HYMB and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.71 vs 1.84), 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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