IJT vs. BIL
IJT (iShares S&P SmallCap 600 Growth ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - IJT is a Small Cap Growth Equities fund tracking the S&P SmallCap 600 Growth Index, 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, IJT returned 11.15%/yr vs 2.19%/yr for BIL. At a correlation of -0.03, they often move in opposite directions. IJT charges 0.18%/yr vs 0.14%/yr for BIL.
Performance
IJT vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, IJT achieves a 18.94% return, which is significantly higher than BIL's 1.56% return. Over the past 10 years, IJT has outperformed BIL with an annualized return of 11.15%, while BIL has yielded a comparatively lower 2.19% annualized return.
IJT
- 1D
- 3.09%
- 1M
- 4.14%
- YTD
- 18.94%
- 6M
- 14.08%
- 1Y
- 28.20%
- 3Y*
- 14.83%
- 5Y*
- 5.86%
- 10Y*
- 11.15%
BIL
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.56%
- 6M
- 1.77%
- 1Y
- 3.87%
- 3Y*
- 4.63%
- 5Y*
- 3.43%
- 10Y*
- 2.19%
IJT vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IJT iShares S&P SmallCap 600 Growth ETF | 18.94% | 5.26% | 9.33% | 17.11% | -21.32% | 22.37% | 19.22% | 20.98% | -4.40% | 14.47% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.56% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Correlation
The correlation between IJT and BIL is -0.12, 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 | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since May 30, 2007 | -0.03 |
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Return for Risk
IJT vs. BIL — Risk / Return Rank
IJT
BIL
IJT vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P SmallCap 600 Growth ETF (IJT) 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.
| IJT | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.01 | ||
| Sortino ratioReturn per unit of downside risk | -171.82 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 87.91 | -86.63 |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | 355.36 | -352.24 |
| Martin ratioReturn relative to average drawdown | 10.87 | 2,817.81 | -2,806.94 |
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Drawdowns
IJT vs. BIL - Drawdown Comparison
The maximum IJT drawdown since its inception was -57.61%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for IJT and BIL.
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Drawdown Indicators
| IJT | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.61% | -0.78% | -56.83% |
Max Drawdown (1Y)Largest decline over 1 year | -9.08% | -0.01% | -9.07% |
Max Drawdown (3Y)Largest decline over 3 years | -27.41% | -0.01% | -27.40% |
Max Drawdown (5Y)Largest decline over 5 years | -29.24% | -0.09% | -29.15% |
Max Drawdown (10Y)Largest decline over 10 years | -42.03% | -0.21% | -41.82% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -10.30% | -0.26% | -10.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 0.00% | +2.61% |
Volatility
IJT vs. BIL - Volatility Comparison
iShares S&P SmallCap 600 Growth ETF (IJT) has a higher volatility of 5.59% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.06%. This indicates that IJT'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
| IJT | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.59% | 0.06% | +5.53% |
Volatility (6M)Calculated over the trailing 6-month period | 13.01% | 0.14% | +12.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.93% | 0.20% | +17.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.55% | 0.26% | +21.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.05% | 0.26% | +22.79% |
IJT vs. BIL - Expense Ratio Comparison
IJT has a 0.18% expense ratio, which is higher than BIL's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IJT vs. BIL - Dividend Comparison
IJT's dividend yield for the trailing twelve months is around 0.75%, less 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% |
IJT iShares S&P SmallCap 600 Growth ETF | 0.75% | 0.91% | 1.06% | 1.02% | 1.08% | 0.63% | 0.68% | 0.92% | 0.92% | 0.86% | 1.03% | 1.14% |
Frequently Asked Questions
IJT and BIL have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IJT has higher volatility (5.59%) compared to BIL (0.06%). In terms of maximum drawdown, IJT dropped -57.61% vs BIL's -0.78%.
On 10-year performance, IJT leads with 11.15% vs 2.19% 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.
Over the 10-year period, IJT has performed better with a 11.15% return vs 2.19%. 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 0.18% for IJT.
BIL has the higher dividend yield at 3.86%, compared with 0.75% for IJT.
IJT is categorized as Small Cap Growth Equities, while BIL is Government Bonds. IJT tracks S&P SmallCap 600 Growth Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.18% for IJT and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.59 vs 1.58), 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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