MJ vs. BIL
MJ (ETFMG Alternative Harvest ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - MJ is a Small Cap Blend Equities fund tracking the Prime Alternative Harvest 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 5 years, MJ returned -34.81%/yr vs 3.45%/yr for BIL. At a correlation of -0.03, they often move in opposite directions. MJ charges 0.75%/yr vs 0.14%/yr for BIL.
Performance
MJ vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, MJ achieves a -15.44% return, which is significantly lower than BIL's 1.66% return.
MJ
- 1D
- 0.48%
- 1M
- -1.98%
- YTD
- -15.44%
- 6M
- -23.65%
- 1Y
- 51.53%
- 3Y*
- -8.55%
- 5Y*
- -34.81%
- 10Y*
- —
BIL
- 1D
- 0.04%
- 1M
- 0.29%
- YTD
- 1.66%
- 6M
- 1.75%
- 1Y
- 3.85%
- 3Y*
- 4.63%
- 5Y*
- 3.45%
- 10Y*
- 2.20%
MJ vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MJ ETFMG Alternative Harvest ETF | -15.44% | 13.07% | -23.97% | -24.18% | -61.55% | -22.79% | -16.18% | -31.36% | -25.99% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.66% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.60% |
Correlation
The correlation between MJ and BIL is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2018 | -0.03 |
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Return for Risk
MJ vs. BIL — Risk / Return Rank
MJ
BIL
MJ vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETFMG Alternative Harvest ETF (MJ) 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.
| MJ | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -19.00 | ||
| Sortino ratioReturn per unit of downside risk | -172.58 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 87.91 | -86.73 |
| Calmar ratioReturn relative to maximum drawdown | 0.95 | 355.36 | -354.41 |
| Martin ratioReturn relative to average drawdown | 1.65 | 2,817.85 | -2,816.20 |
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Drawdowns
MJ vs. BIL - Drawdown Comparison
The maximum MJ drawdown since its inception was -96.55%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for MJ and BIL.
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Drawdown Indicators
| MJ | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.55% | -0.78% | -95.77% |
Max Drawdown (1Y)Largest decline over 1 year | -48.66% | -0.01% | -48.65% |
Max Drawdown (3Y)Largest decline over 3 years | -69.73% | -0.01% | -69.72% |
Max Drawdown (5Y)Largest decline over 5 years | -92.93% | -0.09% | -92.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.21% | — |
Current DrawdownCurrent decline from peak | -94.54% | 0.00% | -94.54% |
Average DrawdownAverage peak-to-trough decline | -69.32% | -0.26% | -69.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.06% | 0.00% | +28.06% |
Volatility
MJ vs. BIL - Volatility Comparison
ETFMG Alternative Harvest ETF (MJ) has a higher volatility of 12.09% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.07%. This indicates that MJ'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
| MJ | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.09% | 0.07% | +12.02% |
Volatility (6M)Calculated over the trailing 6-month period | 43.73% | 0.14% | +43.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 86.96% | 0.20% | +86.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.92% | 0.26% | +59.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.66% | 0.26% | +55.40% |
MJ vs. BIL - Expense Ratio Comparison
MJ has a 0.75% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
MJ vs. BIL - Dividend Comparison
MJ's dividend yield for the trailing twelve months is around 2.35%, less than BIL's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MJ ETFMG Alternative Harvest ETF | 2.35% | 1.98% | 13.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MJ and BIL have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MJ has higher volatility (12.09%) compared to BIL (0.07%). In terms of maximum drawdown, MJ dropped -96.55% vs BIL's -0.78%.
On 5-year performance, BIL leads with 3.45% vs -34.81% for MJ. 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 5-year period, BIL has performed better with a 3.45% return vs -34.81%. 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 0.75% for MJ.
BIL has the higher dividend yield at 3.85%, compared with 2.35% for MJ.
MJ is categorized as Small Cap Blend Equities, while BIL is Government Bonds. MJ tracks Prime Alternative Harvest Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: ETFMG and State Street. Their fees differ too: 0.75% for MJ and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.53 vs 0.53), 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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