NRSH vs. BIL
NRSH (Aztlan North America Nearshoring Stock Selection ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - NRSH is a Large Cap Blend Equities fund tracking the Aztlan North America Nearshoring Price Return Index - Benchmark Price Return, 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 year, NRSH returned 50.82% vs 3.78% for BIL. Their -0.07 correlation means they have often moved in opposite directions in the past. NRSH charges 0.75%/yr vs 0.14%/yr for BIL.
Performance
NRSH vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, NRSH achieves a 39.35% return, which is significantly higher than BIL's 2.11% return.
NRSH
- 1D
- -1.27%
- 1M
- -2.53%
- 6M
- 32.10%
- YTD
- 39.35%
- 1Y
- 50.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 19.50%
BIL
- 1D
- 0.01%
- 1M
- 0.30%
- 6M
- 1.77%
- YTD
- 2.11%
- 1Y
- 3.78%
- 3Y*
- 4.54%
- 5Y*
- 3.54%
- 10Y*
- 2.24%
- ALL TIME*
- 1.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.00B | $883.07M | $928.53M | |
| $196.59K | $143.07K | $75.56K |
NRSH vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NRSH Aztlan North America Nearshoring Stock Selection ETF | 39.35% | 12.95% | -6.17% | 9.15% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 2.11% | 4.15% | 5.19% | 0.47% |
Correlation
The correlation between NRSH and BIL is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.13 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023 | -0.07 |
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Return for Risk
NRSH vs. BIL — Risk / Return Rank
NRSH
BIL
NRSH vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aztlan North America Nearshoring Stock Selection ETF (NRSH) 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.
| NRSH | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.33 | ||
| Sortino ratioReturn per unit of downside risk | -149.49 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 68.82 | -67.52 |
| Calmar ratioReturn relative to maximum drawdown | 3.69 | 346.53 | -342.84 |
| Martin ratioReturn relative to average drawdown | 12.49 | 2,457.45 | -2,444.97 |
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Drawdowns
NRSH vs. BIL - Drawdown Comparison
The maximum NRSH drawdown since its inception was -24.01%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for NRSH and BIL.
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Drawdown Indicators
| NRSH | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.01% | -0.78% | -23.23% |
Max Drawdown (1Y)Largest decline over 1 year | -13.84% | -0.01% | -13.83% |
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 DrawdownCurrent decline from peak | -6.39% | 0.00% | -6.39% |
Average DrawdownAverage peak-to-trough decline | -5.58% | -0.26% | -5.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.08% | 0.00% | +4.08% |
Volatility
NRSH vs. BIL - Volatility Comparison
Aztlan North America Nearshoring Stock Selection ETF (NRSH) has a higher volatility of 9.24% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that NRSH'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
| NRSH | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.24% | 0.05% | +9.19% |
Volatility (6M)Calculated over the trailing 6-month period | 23.35% | 0.14% | +23.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.70% | 0.20% | +27.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.60% | 0.26% | +22.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.60% | 0.26% | +22.34% |
NRSH vs. BIL - Expense Ratio Comparison
NRSH has a 0.75% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
NRSH vs. BIL - Dividend Comparison
NRSH's dividend yield for the trailing twelve months is around 0.30%, less than BIL's 3.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 3.77% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% |
NRSH Aztlan North America Nearshoring Stock Selection ETF | 0.30% | 0.42% | 0.90% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NRSH and BIL have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NRSH has higher volatility (9.24%) compared to BIL (0.05%). In terms of maximum drawdown, NRSH dropped -24.01% vs BIL's -0.78%.
On 1-year performance, NRSH leads with 50.82% vs 3.78% 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 1-year period, NRSH has performed better with a 50.82% return vs 3.78%. 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 NRSH.
BIL has the higher dividend yield at 3.77%, compared with 0.30% for NRSH.
NRSH is categorized as Large Cap Blend Equities, while BIL is Government Bonds. NRSH tracks Aztlan North America Nearshoring Price Return Index - Benchmark Price Return, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: Aztlan and State Street. Their fees differ too: 0.75% for NRSH and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.17 vs 1.84), 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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