NANR vs. BIL
NANR (SPDR S&P North American Natural Resources ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - NANR is a Commodity Producers Equities fund tracking the S&P BMI North American Natural Resources 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, NANR returned 12.52%/yr vs 2.18%/yr for BIL. At a 0.01 correlation, their price movements are largely independent. NANR charges 0.35%/yr vs 0.14%/yr for BIL.
Performance
NANR vs. BIL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NANR achieves a 24.07% return, which is significantly higher than BIL's 1.49% return. Over the past 10 years, NANR has outperformed BIL with an annualized return of 12.52%, while BIL has yielded a comparatively lower 2.18% annualized return.
NANR
- 1D
- -0.54%
- 1M
- 2.37%
- YTD
- 24.07%
- 6M
- 26.38%
- 1Y
- 53.70%
- 3Y*
- 20.80%
- 5Y*
- 16.21%
- 10Y*
- 12.52%
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%
NANR vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NANR SPDR S&P North American Natural Resources ETF | 24.07% | 35.35% | 2.31% | -3.23% | 26.49% | 36.43% | 1.03% | 18.99% | -16.77% | 8.03% |
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 NANR and BIL is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2015 | 0.02 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NANR vs. BIL — Risk / Return Rank
NANR
BIL
NANR vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P North American Natural Resources ETF (NANR) 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.
| NANR | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -16.73 | ||
| Sortino ratioReturn per unit of downside risk | -170.45 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 87.91 | -86.41 |
| Calmar ratioReturn relative to maximum drawdown | 6.04 | 355.35 | -349.31 |
| Martin ratioReturn relative to average drawdown | 21.31 | 2,817.77 | -2,796.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| NANR | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.98 | 19.71 | -16.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 13.16 | -12.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 8.52 | -7.99 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 2.78 | -2.15 |
Drawdowns
NANR vs. BIL - Drawdown Comparison
The maximum NANR drawdown since its inception was -49.15%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for NANR and BIL.
Loading charts...
Drawdown Indicators
| NANR | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.15% | -0.78% | -48.37% |
Max Drawdown (1Y)Largest decline over 1 year | -8.93% | -0.01% | -8.92% |
Max Drawdown (3Y)Largest decline over 3 years | -18.42% | -0.01% | -18.41% |
Max Drawdown (5Y)Largest decline over 5 years | -26.42% | -0.10% | -26.32% |
Max Drawdown (10Y)Largest decline over 10 years | -49.15% | -0.21% | -48.94% |
Current DrawdownCurrent decline from peak | -2.35% | 0.00% | -2.35% |
Average DrawdownAverage peak-to-trough decline | -8.40% | -0.26% | -8.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 0.00% | +2.53% |
Volatility
NANR vs. BIL - Volatility Comparison
SPDR S&P North American Natural Resources ETF (NANR) has a higher volatility of 4.92% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that NANR'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.
Loading charts...
Volatility by Period
| NANR | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.92% | 0.05% | +4.87% |
Volatility (6M)Calculated over the trailing 6-month period | 14.38% | 0.13% | +14.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.13% | 0.20% | +17.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.89% | 0.26% | +22.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.54% | 0.26% | +23.28% |
NANR vs. BIL - Expense Ratio Comparison
NANR has a 0.35% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
NANR vs. BIL - Dividend Comparison
NANR's dividend yield for the trailing twelve months is around 1.69%, 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% |
NANR SPDR S&P North American Natural Resources ETF | 1.69% | 1.77% | 2.20% | 2.78% | 2.70% | 2.61% | 2.73% | 2.02% | 1.95% | 1.83% | 5.01% | 0.01% |
Frequently Asked Questions
NANR and BIL have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NANR has higher volatility (4.92%) compared to BIL (0.05%). In terms of maximum drawdown, NANR dropped -49.15% vs BIL's -0.78%.
On 10-year performance, NANR leads with 12.52% 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, NANR has performed better with a 12.52% 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 NANR.
BIL has the higher dividend yield at 3.86%, compared with 1.69% for NANR.
NANR is categorized as Commodity Producers Equities, while BIL is Government Bonds. NANR tracks S&P BMI North American Natural Resources Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. Their fees differ too: 0.35% for NANR and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.71 vs 2.98), 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.
Find the right allocation for NANR and BIL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer