NUDV vs. BIL

Last updated Jun 23, 2026

NUDV (Nuveen ESG Dividend ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - NUDV is a Large Cap Value Equities fund tracking the Nuveen ESG USA High Dividend Yield 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 3 years, NUDV returned 15.59%/yr vs 4.60%/yr for BIL. At a correlation of -0.04, they often move in opposite directions. NUDV charges 0.26%/yr vs 0.14%/yr for BIL.

Performance

NUDV vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Dividend ETF (NUDV) 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, NUDV achieves a 10.01% return, which is significantly higher than BIL's 1.66% return.

NUDV

• 1D: 0.59%
• 1M: 0.16%
• YTD: 10.01%
• 6M: 9.44%
• 1Y: 19.98%
• 3Y*: 15.59%
• 5Y*: —
• 10Y*: —

BIL

• 1D: 0.00%
• 1M: 0.27%
• YTD: 1.66%
• 6M: 1.75%
• 1Y: 3.85%
• 3Y*: 4.60%
• 5Y*: 3.45%
• 10Y*: 2.20%

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

NUDV vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NUDV Nuveen ESG Dividend ETF	10.01%	10.77%	14.02%	10.13%	-7.83%	8.35%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.66%	4.15%	5.19%	4.94%	1.40%	-0.02%

Correlation

The correlation between NUDV and BIL is -0.10, 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	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021	-0.04

Return for Risk

NUDV vs. BIL — Risk / Return Rank

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

NUDV

NUDV Risk / Return Rank: 60
NUDV Sharpe Ratio Rank: 59
NUDV Sortino Ratio Rank: 62
NUDV Omega Ratio Rank: 55
NUDV Calmar Ratio Rank: 63
NUDV Martin Ratio Rank: 62

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.

NUDV vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Dividend ETF (NUDV) 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.

	NUDV	BIL	Difference
Sharpe ratio: Return per unit of total volatility	1.92	19.37	-17.45
Sortino ratio: Return per unit of downside risk	2.81	173.17	-170.36
Omega ratio: Gain probability vs. loss probability	1.33	87.41	-86.08
Calmar ratio: Return relative to maximum drawdown	3.04	353.28	-350.24
Martin ratio: Return relative to average drawdown	10.81	2,801.35	-2,790.54

NUDV vs. BIL - Sharpe Ratio Comparison

The current NUDV Sharpe Ratio is 1.92, which is lower than the BIL Sharpe Ratio of 19.37. The chart below compares the historical Sharpe Ratios of NUDV 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.

Drawdowns

NUDV vs. BIL - Drawdown Comparison

The maximum NUDV drawdown since its inception was -20.10%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for NUDV and BIL.

Drawdown Indicators

	NUDV	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-20.10%	-0.78%	-19.32%
Max Drawdown (1Y) Largest decline over 1 year	-6.60%	-0.01%	-6.59%
Max Drawdown (3Y) Largest decline over 3 years	-16.48%	-0.01%	-16.47%
Max Drawdown (5Y) Largest decline over 5 years	—	-0.09%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.21%	—
Current Drawdown Current decline from peak	-1.32%	0.00%	-1.32%
Average Drawdown Average peak-to-trough decline	-4.87%	-0.26%	-4.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	0.00%	+1.85%

Volatility

NUDV vs. BIL - Volatility Comparison

Nuveen ESG Dividend ETF (NUDV) has a higher volatility of 3.10% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.07%. This indicates that NUDV'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

	NUDV	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.10%	0.07%	+3.03%
Volatility (6M) Calculated over the trailing 6-month period	7.65%	0.14%	+7.51%
Volatility (1Y) Calculated over the trailing 1-year period	10.45%	0.20%	+10.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.94%	0.26%	+14.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.94%	0.26%	+14.68%

NUDV vs. BIL - Expense Ratio Comparison

NUDV has a 0.26% 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

NUDV vs. BIL - Dividend Comparison

NUDV's dividend yield for the trailing twelve months is around 2.27%, 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%
NUDV Nuveen ESG Dividend ETF	2.27%	2.36%	6.18%	2.48%	2.96%	0.60%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NUDV and BIL in my portfolio?

NUDV and BIL have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUDV or BIL?

NUDV has higher volatility (3.10%) compared to BIL (0.07%). In terms of maximum drawdown, NUDV dropped -20.10% vs BIL's -0.78%.

Which ETF is better, NUDV or BIL?

On 3-year performance, NUDV leads with 15.59% vs 4.60% for BIL. 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.

Which ETF has performed better, NUDV or BIL?

Over the 3-year period, NUDV has performed better with a 15.59% return vs 4.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUDV or BIL?

BIL is cheaper with a 0.14% expense ratio, compared with 0.26% for NUDV.

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

BIL has the higher dividend yield at 3.85%, compared with 2.27% for NUDV.

What is the main difference between NUDV and BIL?

NUDV is categorized as Large Cap Value Equities, while BIL is Government Bonds. NUDV tracks Nuveen ESG USA High Dividend Yield Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: Nuveen and State Street. Their fees differ too: 0.26% for NUDV and 0.14% for BIL.

Which has better risk-adjusted returns?

BIL currently has the higher Sharpe Ratio (19.37 vs 1.92), 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.