IQLT vs. BIL
IQLT (iShares MSCI Intl Quality Factor ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - IQLT is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Sector Neutral Quality Index (Net), 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, IQLT returned 10.17%/yr vs 2.20%/yr for BIL. At a 0.00 correlation, their price movements are largely independent. IQLT charges 0.30%/yr vs 0.14%/yr for BIL.
Performance
IQLT vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, IQLT achieves a 9.81% return, which is significantly higher than BIL's 1.60% return. Over the past 10 years, IQLT has outperformed BIL with an annualized return of 10.17%, while BIL has yielded a comparatively lower 2.20% annualized return.
IQLT
- 1D
- 0.04%
- 1M
- 1.57%
- YTD
- 9.81%
- 6M
- 11.22%
- 1Y
- 18.29%
- 3Y*
- 14.25%
- 5Y*
- 7.32%
- 10Y*
- 10.17%
BIL
- 1D
- 0.03%
- 1M
- 0.29%
- YTD
- 1.60%
- 6M
- 1.76%
- 1Y
- 3.85%
- 3Y*
- 4.63%
- 5Y*
- 3.43%
- 10Y*
- 2.20%
IQLT vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IQLT iShares MSCI Intl Quality Factor ETF | 9.81% | 25.42% | 1.54% | 18.73% | -15.22% | 12.94% | 12.48% | 28.18% | -10.76% | 24.04% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.60% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Correlation
The correlation between IQLT and BIL is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2015 | 0.00 |
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Return for Risk
IQLT vs. BIL — Risk / Return Rank
IQLT
BIL
IQLT vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Intl Quality Factor ETF (IQLT) 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.
| IQLT | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.50 | ||
| Sortino ratioReturn per unit of downside risk | -173.49 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 88.41 | -87.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 357.44 | -355.81 |
| Martin ratioReturn relative to average drawdown | 6.18 | 2,834.34 | -2,828.15 |
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Drawdowns
IQLT vs. BIL - Drawdown Comparison
The maximum IQLT drawdown since its inception was -32.21%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for IQLT and BIL.
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Drawdown Indicators
| IQLT | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.21% | -0.78% | -31.43% |
Max Drawdown (1Y)Largest decline over 1 year | -10.38% | -0.01% | -10.37% |
Max Drawdown (3Y)Largest decline over 3 years | -13.18% | -0.01% | -13.17% |
Max Drawdown (5Y)Largest decline over 5 years | -30.24% | -0.09% | -30.15% |
Max Drawdown (10Y)Largest decline over 10 years | -32.21% | -0.21% | -32.00% |
Current DrawdownCurrent decline from peak | -0.04% | 0.00% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -6.21% | -0.26% | -5.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.74% | 0.00% | +2.74% |
Volatility
IQLT vs. BIL - Volatility Comparison
iShares MSCI Intl Quality Factor ETF (IQLT) has a higher volatility of 5.41% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.06%. This indicates that IQLT'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
| IQLT | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.41% | 0.06% | +5.35% |
Volatility (6M)Calculated over the trailing 6-month period | 12.72% | 0.14% | +12.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.00% | 0.20% | +14.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.55% | 0.26% | +16.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.00% | 0.26% | +16.74% |
IQLT vs. BIL - Expense Ratio Comparison
IQLT has a 0.30% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
IQLT vs. BIL - Dividend Comparison
IQLT's dividend yield for the trailing twelve months is around 2.12%, 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% |
IQLT iShares MSCI Intl Quality Factor ETF | 2.12% | 2.33% | 2.87% | 2.27% | 3.14% | 2.24% | 1.61% | 2.28% | 2.72% | 2.36% | 2.91% | 2.78% |
Frequently Asked Questions
IQLT and BIL have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IQLT has higher volatility (5.41%) compared to BIL (0.06%). In terms of maximum drawdown, IQLT dropped -32.21% vs BIL's -0.78%.
On 10-year performance, IQLT leads with 10.17% 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 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IQLT has performed better with a 10.17% 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 0.30% for IQLT.
BIL has the higher dividend yield at 3.86%, compared with 2.12% for IQLT.
IQLT is categorized as Foreign Large Cap Equities, while BIL is Government Bonds. IQLT tracks MSCI World ex USA Sector Neutral Quality Index (Net), 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: 0.30% for IQLT and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.63 vs 1.13), 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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