LIFT vs. BIL

Last updated Jul 15, 2026

LIFT (LifeX 2028 Income Bucket ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both Government Bonds funds. LIFT is actively managed, while BIL is passively managed. At a 0.01 correlation, their price movements are largely independent. LIFT charges 0.25%/yr vs 0.14%/yr for BIL.

Performance

LIFT vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LifeX 2028 Income Bucket ETF (LIFT) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LIFT achieves a 0.95% return, which is significantly lower than BIL's 1.89% return.

LIFT

• 1D: 0.10%
• 1M: 0.20%
• 6M: 1.02%
• YTD: 0.95%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BIL

• 1D: 0.01%
• 1M: 0.29%
• 6M: 1.77%
• YTD: 1.89%
• 1Y: 3.82%
• 3Y*: 4.57%
• 5Y*: 3.50%
• 10Y*: 2.22%

*Multi-year figures are annualized to reflect compound growth (CAGR)

LIFT vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025
LIFT LifeX 2028 Income Bucket ETF	0.95%	1.16%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.89%	1.04%

Correlation

The correlation between LIFT and BIL is 0.01, 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 (All Time) Calculated using the full available price history since Sep 24, 2025	0.01

Return for Risk

LIFT vs. BIL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LIFT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BIL

BIL Risk / Return Rank: 100
BIL Sharpe Ratio Rank: 100
BIL Sortino Ratio Rank: 100
BIL Omega Ratio Rank: 100
BIL Calmar Ratio Rank: 100
BIL Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LIFT vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LifeX 2028 Income Bucket ETF (LIFT) 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.

	LIFT	BIL	Difference
Sharpe ratio: Return per unit of total volatility	—	19.07	—
Sortino ratio: Return per unit of downside risk	—	153.58	—
Omega ratio: Gain probability vs. loss probability	—	69.55	—
Calmar ratio: Return relative to maximum drawdown	—	350.30	—
Martin ratio: Return relative to average drawdown	—	2,484.19	—

Drawdowns

LIFT vs. BIL - Drawdown Comparison

The maximum LIFT drawdown since its inception was -0.49%, smaller than the maximum BIL drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for LIFT and BIL.

Drawdown Indicators

	LIFT	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-0.49%	-0.78%	+0.29%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.01%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.08%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.21%	—
Current Drawdown Current decline from peak	-0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.09%	-0.26%	+0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	LIFT	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.25%	0.20%	+1.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.25%	0.26%	+0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.25%	0.26%	+0.99%

LIFT vs. BIL - Expense Ratio Comparison

LIFT has a 0.25% expense ratio, which is higher than BIL's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LIFT vs. BIL - Dividend Comparison

LIFT's dividend yield for the trailing twelve months is around 35.65%, more than BIL's 3.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	3.81%	4.13%	5.03%	4.92%	1.35%	0.00%	0.30%	2.05%	1.66%	0.68%	0.07%
LIFT LifeX 2028 Income Bucket ETF	35.65%	8.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LIFT and BIL in my portfolio?

LIFT and BIL have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LIFT or BIL?

On fees, BIL is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LIFT or BIL?

BIL is cheaper with a 0.14% expense ratio, compared with 0.25% for LIFT.

Which ETF pays a higher dividend yield, LIFT or BIL?

LIFT has the higher dividend yield at 35.65%, compared with 3.81% for BIL.

What is the main difference between LIFT and BIL?

They also come from different issuers: Stone Ridge and State Street. Their fees differ too: 0.25% for LIFT and 0.14% for BIL.