NVIT vs. BILS

Last updated Jun 24, 2026

NVIT (YieldMax NVDA Performance & Distribution Target 25 ETF) and BILS (SPDR Bloomberg 3-12 Month T-Bill ETF) are both exchange-traded funds - NVIT is a Derivative Income fund actively managed by YieldMax, while BILS is a Ultrashort Bond fund tracking the Bloomberg 3-12 Month U.S. Treasury Bill Index. NVIT is actively managed, while BILS is passively managed. At a correlation of -0.05, they often move in opposite directions. NVIT charges 1.08%/yr vs 0.14%/yr for BILS.

Performance

NVIT vs. BILS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax NVDA Performance & Distribution Target 25 ETF (NVIT) and SPDR Bloomberg 3-12 Month T-Bill ETF (BILS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVIT achieves a 9.26% return, which is significantly higher than BILS's 1.57% return.

NVIT

• 1D: -2.90%
• 1M: -5.21%
• YTD: 9.26%
• 6M: 8.74%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BILS

• 1D: 0.00%
• 1M: 0.24%
• YTD: 1.57%
• 6M: 1.66%
• 1Y: 3.84%
• 3Y*: 4.61%
• 5Y*: 3.33%
• 10Y*: —

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

NVIT vs. BILS - Yearly Performance Comparison

	2026 (YTD)	2025
NVIT YieldMax NVDA Performance & Distribution Target 25 ETF	9.26%	3.04%
BILS SPDR Bloomberg 3-12 Month T-Bill ETF	1.57%	0.52%

Correlation

The correlation between NVIT and BILS is -0.05, 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 (All Time) Calculated using the full available price history since Nov 18, 2025	-0.05

Return for Risk

NVIT vs. BILS — Risk / Return Rank

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

NVIT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BILS

BILS Risk / Return Rank: 100
BILS Sharpe Ratio Rank: 100
BILS Sortino Ratio Rank: 100
BILS Omega Ratio Rank: 100
BILS Calmar Ratio Rank: 100
BILS 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.

NVIT vs. BILS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax NVDA Performance & Distribution Target 25 ETF (NVIT) and SPDR Bloomberg 3-12 Month T-Bill ETF (BILS). 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.

	NVIT	BILS	Difference
Sharpe ratio: Return per unit of total volatility	—	16.64	—
Sortino ratio: Return per unit of downside risk	—	87.69	—
Omega ratio: Gain probability vs. loss probability	—	34.24	—
Calmar ratio: Return relative to maximum drawdown	—	127.82	—
Martin ratio: Return relative to average drawdown	—	1,285.26	—

Drawdowns

NVIT vs. BILS - Drawdown Comparison

The maximum NVIT drawdown since its inception was -12.15%, which is greater than BILS's maximum drawdown of -0.41%. Use the drawdown chart below to compare losses from any high point for NVIT and BILS.

Drawdown Indicators

	NVIT	BILS	Difference
Max Drawdown Largest peak-to-trough decline	-12.15%	-0.41%	-11.74%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.03%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.37%	—
Current Drawdown Current decline from peak	-11.76%	0.00%	-11.76%
Average Drawdown Average peak-to-trough decline	-3.43%	-0.04%	-3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	NVIT	BILS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	29.83%	0.23%	+29.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.83%	0.31%	+29.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.83%	0.30%	+29.53%

NVIT vs. BILS - Expense Ratio Comparison

NVIT has a 1.08% expense ratio, which is higher than BILS's 0.14% expense ratio.

Dividends

NVIT vs. BILS - Dividend Comparison

NVIT's dividend yield for the trailing twelve months is around 14.77%, more than BILS's 3.81% yield.

Position	TTM	2025	2024	2023	2022
BILS SPDR Bloomberg 3-12 Month T-Bill ETF	3.81%	4.08%	5.01%	4.98%	1.61%
NVIT YieldMax NVDA Performance & Distribution Target 25 ETF	14.77%	2.37%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVIT and BILS in my portfolio?

NVIT and BILS have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NVIT or BILS?

On fees, BILS is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NVIT or BILS?

BILS is cheaper with a 0.14% expense ratio, compared with 1.08% for NVIT.

Which ETF pays a higher dividend yield, NVIT or BILS?

NVIT has the higher dividend yield at 14.77%, compared with 3.81% for BILS.

What is the main difference between NVIT and BILS?

NVIT is categorized as Derivative Income, while BILS is Ultrashort Bond. They also come from different issuers: YieldMax and State Street. Their fees differ too: 1.08% for NVIT and 0.14% for BILS.