INKM vs. BIL
INKM (SPDR SSgA Income Allocation ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - INKM is a Global Equities fund actively managed by State Street, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. INKM is actively managed, while BIL is passively managed. Over the past 10 years, INKM returned 5.59%/yr vs 2.18%/yr for BIL. At a 0.02 correlation, their price movements are largely independent. INKM charges 0.50%/yr vs 0.14%/yr for BIL.
Performance
INKM vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, INKM achieves a 5.61% return, which is significantly higher than BIL's 1.49% return. Over the past 10 years, INKM has outperformed BIL with an annualized return of 5.59%, while BIL has yielded a comparatively lower 2.18% annualized return.
INKM
- 1D
- -0.29%
- 1M
- 0.93%
- YTD
- 5.61%
- 6M
- 5.74%
- 1Y
- 13.00%
- 3Y*
- 10.04%
- 5Y*
- 3.96%
- 10Y*
- 5.59%
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%
INKM vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INKM SPDR SSgA Income Allocation ETF | 5.61% | 11.86% | 5.70% | 10.26% | -12.58% | 8.52% | 3.11% | 17.12% | -5.32% | 13.95% |
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 INKM 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 | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2012 | 0.02 |
The correlation between INKM and BIL shifts across timeframes, from -0.12 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
INKM vs. BIL — Risk / Return Rank
INKM
BIL
INKM vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR SSgA Income Allocation ETF (INKM) 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.
| INKM | BIL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.20 | 19.71 | -17.51 |
Sortino ratioReturn per unit of downside risk | 3.12 | 174.16 | -171.04 |
Omega ratioGain probability vs. loss probability | 1.42 | 87.91 | -86.49 |
Calmar ratioReturn relative to maximum drawdown | 2.87 | 355.35 | -352.49 |
Martin ratioReturn relative to average drawdown | 11.30 | 2,817.77 | -2,806.47 |
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
| INKM | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.20 | 19.71 | -17.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 13.16 | -12.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 8.52 | -7.95 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 2.78 | -2.20 |
Drawdowns
INKM vs. BIL - Drawdown Comparison
The maximum INKM drawdown since its inception was -28.58%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for INKM and BIL.
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Drawdown Indicators
| INKM | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.58% | -0.78% | -27.80% |
Max Drawdown (1Y)Largest decline over 1 year | -4.55% | -0.01% | -4.54% |
Max Drawdown (3Y)Largest decline over 3 years | -9.25% | -0.01% | -9.24% |
Max Drawdown (5Y)Largest decline over 5 years | -19.18% | -0.10% | -19.08% |
Max Drawdown (10Y)Largest decline over 10 years | -28.58% | -0.21% | -28.37% |
Current DrawdownCurrent decline from peak | -0.33% | 0.00% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -3.69% | -0.26% | -3.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 0.00% | +1.15% |
Volatility
INKM vs. BIL - Volatility Comparison
SPDR SSgA Income Allocation ETF (INKM) has a higher volatility of 1.67% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that INKM'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
| INKM | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 0.05% | +1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 4.59% | 0.13% | +4.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.95% | 0.20% | +5.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.30% | 0.26% | +8.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.78% | 0.26% | +9.52% |
INKM vs. BIL - Expense Ratio Comparison
INKM has a 0.50% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
INKM vs. BIL - Dividend Comparison
INKM's dividend yield for the trailing twelve months is around 4.86%, 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% |
INKM SPDR SSgA Income Allocation ETF | 4.86% | 5.82% | 4.83% | 4.56% | 5.03% | 3.74% | 3.88% | 4.38% | 4.08% | 3.10% | 3.39% | 3.45% |
Frequently Asked Questions
INKM 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.
INKM has higher volatility (1.67%) compared to BIL (0.05%). In terms of maximum drawdown, INKM dropped -28.58% vs BIL's -0.78%.
On 10-year performance, INKM leads with 5.59% 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, INKM has performed better with a 5.59% 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 0.50% for INKM.
INKM has the higher dividend yield at 4.86%, compared with 3.86% for BIL.
INKM is categorized as Global Equities, while BIL is Government Bonds. Their fees differ too: 0.50% for INKM and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.71 vs 2.20), 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.
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