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 10.60%/yr vs 2.18%/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 -7.88% return, which is significantly lower than BIL's 1.46% return. Over the past 10 years, KIE has outperformed BIL with an annualized return of 10.60%, while BIL has yielded a comparatively lower 2.18% annualized return.
KIE
- 1D
- -0.38%
- 1M
- -2.92%
- YTD
- -7.88%
- 6M
- -5.75%
- 1Y
- -6.09%
- 3Y*
- 13.55%
- 5Y*
- 8.63%
- 10Y*
- 10.60%
BIL
- 1D
- -0.01%
- 1M
- 0.28%
- YTD
- 1.46%
- 6M
- 1.76%
- 1Y
- 3.87%
- 3Y*
- 4.63%
- 5Y*
- 3.41%
- 10Y*
- 2.18%
KIE vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KIE SPDR S&P Insurance ETF | -7.88% | 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 | 1.46% | 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 -0.03, 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 | -0.03 |
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 31, 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.
| KIE | BIL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.38 | 19.71 | -20.09 |
Sortino ratioReturn per unit of downside risk | -0.42 | 174.16 | -174.58 |
Omega ratioGain probability vs. loss probability | 0.95 | 87.91 | -86.96 |
Calmar ratioReturn relative to maximum drawdown | -0.45 | 355.62 | -356.07 |
Martin ratioReturn relative to average drawdown | -1.11 | 2,825.49 | -2,826.60 |
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
| KIE | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.38 | 19.71 | -20.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 13.15 | -12.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 8.52 | -8.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 2.77 | -2.49 |
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% | -0.10% | -15.58% |
Max Drawdown (10Y)Largest decline over 10 years | -44.31% | -0.21% | -44.10% |
Current DrawdownCurrent decline from peak | -9.20% | -0.01% | -9.19% |
Average DrawdownAverage peak-to-trough decline | -12.05% | -0.26% | -11.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.76% | 0.00% | +4.76% |
Volatility
KIE vs. BIL - Volatility Comparison
SPDR S&P Insurance ETF (KIE) has a higher volatility of 4.41% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. 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 | 4.41% | 0.05% | +4.36% |
Volatility (6M)Calculated over the trailing 6-month period | 11.06% | 0.13% | +10.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.04% | 0.20% | +15.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.35% | 0.26% | +18.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.17% | 0.26% | +20.91% |
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 1.68%, 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% |
KIE SPDR S&P Insurance ETF | 1.68% | 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 -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KIE has higher volatility (4.41%) compared to BIL (0.05%). In terms of maximum drawdown, KIE dropped -75.30% vs BIL's -0.78%.
On 10-year performance, KIE leads with 10.60% 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, KIE has performed better with a 10.60% 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 0.35% for KIE.
BIL has the higher dividend yield at 3.86%, compared with 1.68% 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 (19.71 vs -0.38), 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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