KIE vs. BIL
KIE (SPDR S&P Insurance ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - KIE is a Financials Equities fund tracking the S&P Insurance Select Industry 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, KIE returned 12.08%/yr vs 2.20%/yr for BIL. At a correlation of -0.03, they often move in opposite directions. KIE charges 0.35%/yr vs 0.14%/yr for BIL.
Performance
KIE vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, KIE achieves a 0.16% return, which is significantly lower than BIL's 1.69% return. Over the past 10 years, KIE has outperformed BIL with an annualized return of 12.08%, while BIL has yielded a comparatively lower 2.20% annualized return.
KIE
- 1D
- 0.17%
- 1M
- 4.05%
- YTD
- 0.16%
- 6M
- -1.28%
- 1Y
- 2.10%
- 3Y*
- 16.62%
- 5Y*
- 10.76%
- 10Y*
- 12.08%
BIL
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.69%
- 6M
- 1.74%
- 1Y
- 3.85%
- 3Y*
- 4.61%
- 5Y*
- 3.45%
- 10Y*
- 2.20%
KIE vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KIE SPDR S&P Insurance ETF | 0.16% | 8.12% | 26.95% | 12.18% | 3.48% | 22.75% | -3.04% | 27.19% | -5.99% | 12.83% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.69% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Correlation
The correlation between KIE and BIL is -0.04, 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 | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since May 30, 2007 | -0.03 |
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Return for Risk
KIE vs. BIL — Risk / Return Rank
KIE
BIL
KIE vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Insurance ETF (KIE) 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.
| KIE | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -19.30 | ||
| Sortino ratioReturn per unit of downside risk | -172.87 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 87.41 | -86.38 |
| Calmar ratioReturn relative to maximum drawdown | 0.18 | 353.28 | -353.11 |
| Martin ratioReturn relative to average drawdown | 0.43 | 2,801.36 | -2,800.93 |
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Drawdowns
KIE vs. BIL - Drawdown Comparison
The maximum KIE drawdown since its inception was -75.30%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for KIE and BIL.
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Drawdown Indicators
| KIE | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.30% | -0.78% | -74.52% |
Max Drawdown (1Y)Largest decline over 1 year | -11.81% | -0.01% | -11.80% |
Max Drawdown (3Y)Largest decline over 3 years | -12.65% | -0.01% | -12.64% |
Max Drawdown (5Y)Largest decline over 5 years | -15.68% | -0.09% | -15.59% |
Max Drawdown (10Y)Largest decline over 10 years | -44.31% | -0.21% | -44.10% |
Current DrawdownCurrent decline from peak | -1.28% | 0.00% | -1.28% |
Average DrawdownAverage peak-to-trough decline | -12.02% | -0.26% | -11.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.92% | 0.00% | +4.92% |
Volatility
KIE vs. BIL - Volatility Comparison
SPDR S&P Insurance ETF (KIE) has a higher volatility of 5.81% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.07%. This indicates that KIE'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
| KIE | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.81% | 0.07% | +5.74% |
Volatility (6M)Calculated over the trailing 6-month period | 11.85% | 0.14% | +11.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.39% | 0.20% | +16.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.37% | 0.26% | +18.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.16% | 0.26% | +20.90% |
KIE vs. BIL - Expense Ratio Comparison
KIE has a 0.35% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
KIE vs. BIL - Dividend Comparison
KIE's dividend yield for the trailing twelve months is around 1.64%, 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% |
KIE SPDR S&P Insurance ETF | 1.64% | 1.57% | 1.48% | 1.45% | 1.90% | 1.95% | 1.85% | 1.76% | 1.83% | 1.56% | 1.55% | 1.65% |
Frequently Asked Questions
KIE and BIL have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KIE has higher volatility (5.81%) compared to BIL (0.07%). In terms of maximum drawdown, KIE dropped -75.30% vs BIL's -0.78%.
On 10-year performance, KIE leads with 12.08% 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, KIE has performed better with a 12.08% 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 0.35% for KIE.
BIL has the higher dividend yield at 3.85%, compared with 1.64% for KIE.
KIE is categorized as Financials Equities, while BIL is Government Bonds. KIE tracks S&P Insurance Select Industry Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. Their fees differ too: 0.35% for KIE and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.43 vs 0.13), 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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