NYM vs. BIL

Last updated Jun 4, 2026

NYM (AB New York Intermediate Municipal ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - NYM is a Municipal Bonds fund actively managed by AllianceBernstein, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. NYM is actively managed, while BIL is passively managed. At a correlation of -0.21, they often move in opposite directions. NYM charges 0.27%/yr vs 0.14%/yr for BIL.

Performance

NYM vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB New York Intermediate Municipal ETF (NYM) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with NYM having a 1.43% return and BIL slightly higher at 1.49%.

NYM

• 1D: 0.04%
• 1M: 0.48%
• YTD: 1.43%
• 6M: 1.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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%

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

NYM vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025
NYM AB New York Intermediate Municipal ETF	1.43%	0.41%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.49%	0.52%

Correlation

The correlation between NYM and BIL is -0.21, 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 (All Time) Calculated using the full available price history since Nov 11, 2025	-0.21

Return for Risk

NYM vs. BIL — Risk / Return Rank

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

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.

NYM vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB New York Intermediate Municipal ETF (NYM) 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.

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

Sharpe Ratios by Period

	NYM	BIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	19.71	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	13.16	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	8.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.63	2.78	-1.15

Drawdowns

NYM vs. BIL - Drawdown Comparison

The maximum NYM drawdown since its inception was -1.76%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for NYM and BIL.

Drawdown Indicators

	NYM	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-1.76%	-0.78%	-0.98%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.01%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.10%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.21%	—
Current Drawdown Current decline from peak	-0.23%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-0.42%	-0.26%	-0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	NYM	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.06%	0.20%	+1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.06%	0.26%	+1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.06%	0.26%	+1.80%

NYM vs. BIL - Expense Ratio Comparison

NYM has a 0.27% 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

NYM vs. BIL - Dividend Comparison

NYM's dividend yield for the trailing twelve months is around 1.73%, less than BIL's 3.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
NYM AB New York Intermediate Municipal ETF	1.73%	0.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NYM and BIL in my portfolio?

NYM and BIL have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NYM or BIL?

On fees, BIL 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, NYM or BIL?

BIL is cheaper with a 0.14% expense ratio, compared with 0.27% for NYM.

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

BIL has the higher dividend yield at 3.86%, compared with 1.73% for NYM.

What is the main difference between NYM and BIL?

NYM is categorized as Municipal Bonds, while BIL is Government Bonds. They also come from different issuers: AllianceBernstein and State Street. Their fees differ too: 0.27% for NYM and 0.14% for BIL.