PortfoliosLab logoPortfoliosLab logo
ICSH vs. BIL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

ICSH vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Ultra Short Duration Bond Active ETF (ICSH) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, ICSH achieves a 1.51% return, which is significantly lower than BIL's 1.66% return. Over the past 10 years, ICSH has outperformed BIL with an annualized return of 2.77%, while BIL has yielded a comparatively lower 2.20% annualized return.


ICSH

1D
-0.04%
1M
0.20%
YTD
1.51%
6M
1.67%
1Y
4.20%
3Y*
5.09%
5Y*
3.69%
10Y*
2.77%

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

ICSH vs. BIL - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
ICSH
iShares Ultra Short Duration Bond Active ETF
1.51%4.96%5.52%5.58%0.97%0.16%1.61%3.17%2.25%1.63%
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 ICSH and BIL is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.14

Correlation (3Y)
Calculated over the trailing 3-year period

0.15

Correlation (5Y)
Calculated over the trailing 5-year period

0.22

Correlation (10Y)
Calculated over the trailing 10-year period

0.13

Correlation (All Time)
Calculated using the full available price history since Dec 13, 2013

0.11

The correlation between ICSH and BIL shifts across timeframes, from 0.11 (all time) to 0.22 (5 years), reflecting how their relationship changes across market environments.

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

ICSH vs. BIL — Risk / Return Rank

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

ICSH
ICSH Risk / Return Rank: 9999
Overall Rank
ICSH Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
ICSH Sortino Ratio Rank: 9999
Sortino Ratio Rank
ICSH Omega Ratio Rank: 9999
Omega Ratio Rank
ICSH Calmar Ratio Rank: 9999
Calmar Ratio Rank
ICSH Martin Ratio Rank: 9999
Martin Ratio Rank

BIL
BIL Risk / Return Rank: 100100
Overall Rank
BIL Sharpe Ratio Rank: 100100
Sharpe Ratio Rank
BIL Sortino Ratio Rank: 100100
Sortino Ratio Rank
BIL Omega Ratio Rank: 100100
Omega Ratio Rank
BIL Calmar Ratio Rank: 100100
Calmar Ratio Rank
BIL Martin Ratio Rank: 100100
Martin Ratio Rank
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.

ICSH vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Ultra Short Duration Bond Active ETF (ICSH) 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.


ICSHBILDifference
Sharpe ratioReturn per unit of total volatility

-9.17

Sortino ratioReturn per unit of downside risk

-150.58

Omega ratioGain probability vs. loss probability

5.64

87.41

-81.77

Calmar ratioReturn relative to maximum drawdown

42.62

353.28

-310.66

Martin ratioReturn relative to average drawdown

244.74

2,801.35

-2,556.61

ICSH vs. BIL - Sharpe Ratio Comparison

The current ICSH Sharpe Ratio is 10.20, which is lower than the BIL Sharpe Ratio of 19.37. The chart below compares the historical Sharpe Ratios of ICSH 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.


Loading charts...

Drawdowns

ICSH vs. BIL - Drawdown Comparison

The maximum ICSH drawdown since its inception was -3.94%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for ICSH and BIL.


Loading charts...

Drawdown Indicators


ICSHBILDifference

Max Drawdown

Largest peak-to-trough decline

-3.94%

-0.78%

-3.16%

Max Drawdown (1Y)

Largest decline over 1 year

-0.10%

-0.01%

-0.09%

Max Drawdown (3Y)

Largest decline over 3 years

-0.10%

-0.01%

-0.09%

Max Drawdown (5Y)

Largest decline over 5 years

-0.73%

-0.09%

-0.64%

Max Drawdown (10Y)

Largest decline over 10 years

-3.94%

-0.21%

-3.73%

Current Drawdown

Current decline from peak

-0.09%

0.00%

-0.09%

Average Drawdown

Average peak-to-trough decline

-0.08%

-0.26%

+0.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.02%

0.00%

+0.02%

Volatility

ICSH vs. BIL - Volatility Comparison

iShares Ultra Short Duration Bond Active ETF (ICSH) has a higher volatility of 0.15% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.07%. This indicates that ICSH'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


ICSHBILDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.15%

0.07%

+0.08%

Volatility (6M)

Calculated over the trailing 6-month period

0.32%

0.14%

+0.18%

Volatility (1Y)

Calculated over the trailing 1-year period

0.41%

0.20%

+0.21%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.49%

0.26%

+0.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.06%

0.26%

+0.80%

ICSH vs. BIL - Expense Ratio Comparison

ICSH has a 0.08% expense ratio, which is lower than BIL's 0.14% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.


Dividends

ICSH vs. BIL - Dividend Comparison

ICSH's dividend yield for the trailing twelve months is around 4.34%, more than BIL's 3.85% yield.


PositionTTM20252024202320222021202020192018201720162015
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%
ICSH
iShares Ultra Short Duration Bond Active ETF
4.34%4.55%5.24%4.78%1.66%0.42%1.21%2.61%2.20%1.36%0.88%0.54%

Frequently Asked Questions


ICSH and BIL have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ICSH has higher volatility (0.15%) compared to BIL (0.07%). In terms of maximum drawdown, ICSH dropped -3.94% vs BIL's -0.78%.

On 10-year performance, ICSH leads with 2.77% vs 2.20% for BIL. On fees, ICSH is cheaper at 0.08% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ICSH has performed better with a 2.77% return vs 2.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ICSH is cheaper with a 0.08% expense ratio, compared with 0.14% for BIL.

ICSH has the higher dividend yield at 4.34%, compared with 3.85% for BIL.

ICSH is categorized as Ultrashort Bond, while BIL is Government Bonds. They also come from different issuers: iShares and State Street. Their fees differ too: 0.08% for ICSH and 0.14% for BIL.

BIL currently has the higher Sharpe Ratio (19.37 vs 10.20), 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.

Portfolio Optimizer

Find the right allocation for ICSH 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