MINT vs. BIL

Last updated Jun 4, 2026

MINT (PIMCO Enhanced Short Maturity Active ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - MINT is a Ultrashort Bond fund actively managed by PIMCO, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. MINT is actively managed, while BIL is passively managed. Over the past 10 years, MINT returned 2.70%/yr vs 2.18%/yr for BIL. At a 0.15 correlation, their price movements are largely independent. MINT charges 0.36%/yr vs 0.14%/yr for BIL.

Performance

MINT vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Enhanced Short Maturity Active ETF (MINT) 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, MINT achieves a 1.81% return, which is significantly higher than BIL's 1.49% return. Over the past 10 years, MINT has outperformed BIL with an annualized return of 2.70%, while BIL has yielded a comparatively lower 2.18% annualized return.

MINT

• 1D: 0.00%
• 1M: 0.36%
• YTD: 1.81%
• 6M: 2.20%
• 1Y: 4.67%
• 3Y*: 5.41%
• 5Y*: 3.47%
• 10Y*: 2.70%

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%

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

MINT vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MINT PIMCO Enhanced Short Maturity Active ETF	1.81%	4.74%	5.94%	6.26%	-1.01%	-0.03%	1.62%	3.34%	1.72%	1.86%
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 MINT and BIL is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Nov 18, 2009	0.15

The correlation between MINT and BIL shifts across timeframes, from 0.15 (all time) to 0.36 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MINT vs. BIL — Risk / Return Rank

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

MINT

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

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.

MINT vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Enhanced Short Maturity Active ETF (MINT) 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.

	MINT	BIL	Difference
Sharpe ratio Return per unit of total volatility	17.09	19.71	-2.62
Sortino ratio Return per unit of downside risk	65.54	174.16	-108.62
Omega ratio Gain probability vs. loss probability	20.53	87.91	-67.38
Calmar ratio Return relative to maximum drawdown	94.30	355.35	-261.05
Martin ratio Return relative to average drawdown	939.26	2,817.77	-1,878.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MINT vs. BIL - Sharpe Ratio Comparison

The current MINT Sharpe Ratio is 17.09, which is comparable to the BIL Sharpe Ratio of 19.71. The chart below compares the historical Sharpe Ratios of MINT and BIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MINT	BIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	17.09	19.71	-2.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	5.99	13.16	-7.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	2.87	8.52	-5.65
Sharpe Ratio (All Time) Calculated using the full available price history	2.47	2.78	-0.31

Drawdowns

MINT vs. BIL - Drawdown Comparison

The maximum MINT drawdown since its inception was -4.62%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for MINT and BIL.

Drawdown Indicators

	MINT	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-4.62%	-0.78%	-3.84%
Max Drawdown (1Y) Largest decline over 1 year	-0.05%	-0.01%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-0.16%	-0.01%	-0.15%
Max Drawdown (5Y) Largest decline over 5 years	-2.42%	-0.10%	-2.32%
Max Drawdown (10Y) Largest decline over 10 years	-4.62%	-0.21%	-4.41%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.17%	-0.26%	+0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.00%	0.00%

Volatility

MINT vs. BIL - Volatility Comparison

PIMCO Enhanced Short Maturity Active ETF (MINT) has a higher volatility of 0.09% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that MINT'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.

Volatility by Period

	MINT	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.09%	0.05%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	0.20%	0.13%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	0.27%	0.20%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.58%	0.26%	+0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.95%	0.26%	+0.69%

MINT vs. BIL - Expense Ratio Comparison

MINT has a 0.36% expense ratio, which is higher than BIL's 0.14% expense ratio.

Dividends

MINT vs. BIL - Dividend Comparison

MINT's dividend yield for the trailing twelve months is around 4.28%, more 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%
MINT PIMCO Enhanced Short Maturity Active ETF	4.28%	4.63%	5.22%	4.91%	1.90%	0.44%	1.15%	2.65%	2.32%	1.61%	1.35%	0.88%

Frequently Asked Questions

Can I hold both MINT and BIL in my portfolio?

MINT and BIL have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MINT or BIL?

MINT has higher volatility (0.09%) compared to BIL (0.05%). In terms of maximum drawdown, MINT dropped -4.62% vs BIL's -0.78%.

Which ETF is better, MINT or BIL?

On 10-year performance, MINT leads with 2.70% vs 2.18% for BIL. On fees, BIL is cheaper at 0.14% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MINT or BIL?

Over the 10-year period, MINT has performed better with a 2.70% return vs 2.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MINT or BIL?

BIL is cheaper with a 0.14% expense ratio, compared with 0.36% for MINT.

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

MINT has the higher dividend yield at 4.28%, compared with 3.86% for BIL.

What is the main difference between MINT and BIL?

MINT is categorized as Ultrashort Bond, while BIL is Government Bonds. They also come from different issuers: PIMCO and State Street. Their fees differ too: 0.36% for MINT and 0.14% for BIL.

Which has better risk-adjusted returns?

BIL currently has the higher Sharpe Ratio (19.71 vs 17.09), 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.