MDYV vs. BIL
MDYV (SPDR S&P 400 Mid Cap Value ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - MDYV is a Mid Cap Value Equities fund tracking the S&P MidCap 400 Value 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, MDYV returned 10.40%/yr vs 2.18%/yr for BIL. At a correlation of -0.04, they often move in opposite directions. MDYV charges 0.15%/yr vs 0.14%/yr for BIL.
Performance
MDYV vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, MDYV achieves a 9.04% return, which is significantly higher than BIL's 1.49% return. Over the past 10 years, MDYV has outperformed BIL with an annualized return of 10.40%, while BIL has yielded a comparatively lower 2.18% annualized return.
MDYV
- 1D
- -0.38%
- 1M
- 1.78%
- YTD
- 9.04%
- 6M
- 9.24%
- 1Y
- 20.68%
- 3Y*
- 13.90%
- 5Y*
- 7.48%
- 10Y*
- 10.40%
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%
MDYV vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MDYV SPDR S&P 400 Mid Cap Value ETF | 9.04% | 7.45% | 11.48% | 15.35% | -7.19% | 30.51% | 3.68% | 25.89% | -11.95% | 12.31% |
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 MDYV and BIL is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 31, 2007 | -0.04 |
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Return for Risk
MDYV vs. BIL — Risk / Return Rank
MDYV
BIL
MDYV vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 400 Mid Cap Value ETF (MDYV) 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.
| MDYV | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.34 | ||
| Sortino ratioReturn per unit of downside risk | -172.09 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 87.91 | -86.67 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 355.35 | -353.38 |
| Martin ratioReturn relative to average drawdown | 6.78 | 2,817.77 | -2,810.99 |
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
| MDYV | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.37 | 19.71 | -18.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 13.16 | -12.77 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 8.52 | -8.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 2.78 | -2.36 |
Drawdowns
MDYV vs. BIL - Drawdown Comparison
The maximum MDYV drawdown since its inception was -60.71%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for MDYV and BIL.
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Drawdown Indicators
| MDYV | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.71% | -0.78% | -59.93% |
Max Drawdown (1Y)Largest decline over 1 year | -10.53% | -0.01% | -10.52% |
Max Drawdown (3Y)Largest decline over 3 years | -22.58% | -0.01% | -22.57% |
Max Drawdown (5Y)Largest decline over 5 years | -22.58% | -0.10% | -22.48% |
Max Drawdown (10Y)Largest decline over 10 years | -45.90% | -0.21% | -45.69% |
Current DrawdownCurrent decline from peak | -0.38% | 0.00% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -8.62% | -0.26% | -8.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 0.00% | +3.06% |
Volatility
MDYV vs. BIL - Volatility Comparison
SPDR S&P 400 Mid Cap Value ETF (MDYV) has a higher volatility of 3.93% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that MDYV'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
| MDYV | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | 0.05% | +3.88% |
Volatility (6M)Calculated over the trailing 6-month period | 10.56% | 0.13% | +10.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.25% | 0.20% | +15.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.50% | 0.26% | +19.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.90% | 0.26% | +21.64% |
MDYV vs. BIL - Expense Ratio Comparison
MDYV has a 0.15% 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
MDYV vs. BIL - Dividend Comparison
MDYV's dividend yield for the trailing twelve months is around 1.73%, 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% |
MDYV SPDR S&P 400 Mid Cap Value ETF | 1.73% | 1.72% | 1.89% | 1.59% | 1.90% | 1.74% | 1.69% | 1.83% | 2.28% | 2.48% | 1.83% | 4.31% |
Frequently Asked Questions
MDYV and BIL have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MDYV has higher volatility (3.93%) compared to BIL (0.05%). In terms of maximum drawdown, MDYV dropped -60.71% vs BIL's -0.78%.
On 10-year performance, MDYV leads with 10.40% 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, MDYV has performed better with a 10.40% 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 0.15% for MDYV.
BIL has the higher dividend yield at 3.86%, compared with 1.73% for MDYV.
MDYV is categorized as Mid Cap Value Equities, while BIL is Government Bonds. MDYV tracks S&P MidCap 400 Value Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. Their fees differ too: 0.15% for MDYV and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.71 vs 1.37), 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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