ILF vs. BIL
ILF (iShares Latin American 40 ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - ILF is a Latin America Equities fund tracking the S&P Latin America 40 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, ILF returned 8.49%/yr vs 2.20%/yr for BIL. At a correlation of -0.02, they often move in opposite directions. ILF charges 0.48%/yr vs 0.14%/yr for BIL.
Performance
ILF vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, ILF achieves a 13.05% return, which is significantly higher than BIL's 1.66% return. Over the past 10 years, ILF has outperformed BIL with an annualized return of 8.49%, while BIL has yielded a comparatively lower 2.20% annualized return.
ILF
- 1D
- 0.27%
- 1M
- -1.45%
- YTD
- 13.05%
- 6M
- 14.29%
- 1Y
- 40.46%
- 3Y*
- 13.51%
- 5Y*
- 9.00%
- 10Y*
- 8.49%
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%
ILF vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ILF iShares Latin American 40 ETF | 13.05% | 52.65% | -23.11% | 33.14% | 9.81% | -13.59% | -11.71% | 13.77% | -6.85% | 26.33% |
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 ILF and BIL is -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
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 | -0.02 |
The correlation between ILF and BIL shifts across timeframes, from -0.16 (1 year) to -0.01 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ILF vs. BIL — Risk / Return Rank
ILF
BIL
ILF vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Latin American 40 ETF (ILF) 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.
| ILF | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.54 | ||
| Sortino ratioReturn per unit of downside risk | -170.72 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 87.41 | -86.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 353.28 | -350.37 |
| Martin ratioReturn relative to average drawdown | 8.56 | 2,801.35 | -2,792.79 |
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Drawdowns
ILF vs. BIL - Drawdown Comparison
The maximum ILF drawdown since its inception was -67.48%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for ILF and BIL.
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Drawdown Indicators
| ILF | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.48% | -0.78% | -66.70% |
Max Drawdown (1Y)Largest decline over 1 year | -13.94% | -0.01% | -13.93% |
Max Drawdown (3Y)Largest decline over 3 years | -23.97% | -0.01% | -23.96% |
Max Drawdown (5Y)Largest decline over 5 years | -29.71% | -0.09% | -29.62% |
Max Drawdown (10Y)Largest decline over 10 years | -57.79% | -0.21% | -57.58% |
Current DrawdownCurrent decline from peak | -9.65% | 0.00% | -9.65% |
Average DrawdownAverage peak-to-trough decline | -23.91% | -0.26% | -23.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.74% | 0.00% | +4.74% |
Volatility
ILF vs. BIL - Volatility Comparison
iShares Latin American 40 ETF (ILF) has a higher volatility of 6.44% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.07%. This indicates that ILF'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
| ILF | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.44% | 0.07% | +6.37% |
Volatility (6M)Calculated over the trailing 6-month period | 18.33% | 0.14% | +18.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.25% | 0.20% | +22.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.28% | 0.26% | +23.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.40% | 0.26% | +28.14% |
ILF vs. BIL - Expense Ratio Comparison
ILF has a 0.48% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
ILF vs. BIL - Dividend Comparison
ILF's dividend yield for the trailing twelve months is around 3.47%, less than BIL's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ILF iShares Latin American 40 ETF | 3.47% | 4.39% | 7.44% | 4.61% | 12.72% | 8.47% | 1.88% | 3.09% | 3.12% | 1.80% | 1.59% | 3.25% |
Frequently Asked Questions
ILF and BIL have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ILF has higher volatility (6.44%) compared to BIL (0.07%). In terms of maximum drawdown, ILF dropped -67.48% vs BIL's -0.78%.
On 10-year performance, ILF leads with 8.49% vs 2.20% for BIL. On fees, BIL is cheaper at 0.14% per year. On volatility, BIL has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ILF has performed better with a 8.49% return vs 2.20%. 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 0.48% for ILF.
BIL has the higher dividend yield at 3.85%, compared with 3.47% for ILF.
ILF is categorized as Latin America Equities, while BIL is Government Bonds. ILF tracks S&P Latin America 40 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: 0.48% for ILF and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.37 vs 1.83), 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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