OWL vs. BIL
OWL (Blue Owl Capital Inc.) is a stock, while BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) is Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Over the past 5 years, OWL returned -2.85%/yr vs 3.45%/yr for BIL. At a correlation of -0.03, they often move in opposite directions.
Performance
OWL vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, OWL achieves a -37.75% return, which is significantly lower than BIL's 1.67% return.
OWL
- 1D
- -3.47%
- 1M
- -11.43%
- YTD
- -37.75%
- 6M
- -40.69%
- 1Y
- -48.60%
- 3Y*
- -2.17%
- 5Y*
- -2.85%
- 10Y*
- —
BIL
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.67%
- 6M
- 1.76%
- 1Y
- 3.84%
- 3Y*
- 4.60%
- 5Y*
- 3.45%
- 10Y*
- 2.20%
OWL vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
OWL Blue Owl Capital Inc. | -37.75% | -32.83% | 61.76% | 47.40% | -26.29% | 32.18% | 5.86% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.67% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.00% |
Correlation
The correlation between OWL and BIL is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2020 | -0.03 |
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Return for Risk
OWL vs. BIL — Risk / Return Rank
OWL
BIL
OWL vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blue Owl Capital Inc. (OWL) 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.
| OWL | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -20.42 | ||
| Sortino ratioReturn per unit of downside risk | -174.41 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 87.16 | -86.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 352.24 | -353.07 |
| Martin ratioReturn relative to average drawdown | -1.42 | 2,793.11 | -2,794.53 |
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Drawdowns
OWL vs. BIL - Drawdown Comparison
The maximum OWL drawdown since its inception was -67.10%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for OWL and BIL.
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Drawdown Indicators
| OWL | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.10% | -0.78% | -66.32% |
Max Drawdown (1Y)Largest decline over 1 year | -58.59% | -0.01% | -58.58% |
Max Drawdown (3Y)Largest decline over 3 years | -67.10% | -0.01% | -67.09% |
Max Drawdown (5Y)Largest decline over 5 years | -67.10% | -0.09% | -67.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.21% | — |
Current DrawdownCurrent decline from peak | -63.54% | 0.00% | -63.54% |
Average DrawdownAverage peak-to-trough decline | -24.30% | -0.26% | -24.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.32% | 0.00% | +34.32% |
Volatility
OWL vs. BIL - Volatility Comparison
Blue Owl Capital Inc. (OWL) has a higher volatility of 12.67% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.07%. This indicates that OWL'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
| OWL | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.67% | 0.07% | +12.60% |
Volatility (6M)Calculated over the trailing 6-month period | 34.83% | 0.14% | +34.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.26% | 0.20% | +44.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.11% | 0.26% | +41.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.77% | 0.26% | +42.51% |
Dividends
OWL vs. BIL - Dividend Comparison
OWL's dividend yield for the trailing twelve months is around 10.16%, more 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% |
OWL Blue Owl Capital Inc. | 10.16% | 5.72% | 2.92% | 3.69% | 4.06% | 0.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OWL and BIL have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OWL has higher volatility (12.67%) compared to BIL (0.07%). In terms of maximum drawdown, OWL dropped -67.10% vs BIL's -0.78%.
BIL currently has the higher Sharpe Ratio (19.32 vs -1.10), 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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