RPIBX vs. BIL
RPIBX (T. Rowe Price International Bond Fund) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both funds - RPIBX is a Global Bonds fund managed by T. Rowe Price, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Over the past 10 years, RPIBX returned 0.10%/yr vs 2.22%/yr for BIL. At a 0.01 correlation, their price movements are largely independent. RPIBX charges 0.67%/yr vs 0.14%/yr for BIL.
Performance
RPIBX vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, RPIBX achieves a -1.15% return, which is significantly lower than BIL's 1.88% return. Over the past 10 years, RPIBX has underperformed BIL with an annualized return of 0.10%, while BIL has yielded a comparatively higher 2.22% annualized return.
RPIBX
- 1D
- 0.00%
- 1M
- -1.07%
- 6M
- -0.87%
- YTD
- -1.15%
- 1Y
- -0.55%
- 3Y*
- 4.28%
- 5Y*
- -2.25%
- 10Y*
- 0.10%
BIL
- 1D
- 0.00%
- 1M
- 0.28%
- 6M
- 1.77%
- YTD
- 1.88%
- 1Y
- 3.82%
- 3Y*
- 4.57%
- 5Y*
- 3.50%
- 10Y*
- 2.22%
RPIBX vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RPIBX T. Rowe Price International Bond Fund | -1.15% | 10.96% | -2.90% | 9.35% | -20.72% | -7.18% | 11.51% | 6.67% | -2.93% | 11.16% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.88% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Correlation
The correlation between RPIBX and BIL is -0.09, 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 | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 30, 2007 | 0.01 |
The correlation between RPIBX and BIL shifts across timeframes, from -0.09 (1 year) to 0.02 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
RPIBX vs. BIL — Risk / Return Rank
RPIBX
BIL
RPIBX vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price International Bond Fund (RPIBX) 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.
| RPIBX | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -19.18 | ||
| Sortino ratioReturn per unit of downside risk | -153.71 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 69.55 | -68.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.14 | 350.30 | -350.44 |
| Martin ratioReturn relative to average drawdown | -0.34 | 2,484.18 | -2,484.52 |
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Drawdowns
RPIBX vs. BIL - Drawdown Comparison
The maximum RPIBX drawdown since its inception was -33.80%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for RPIBX and BIL.
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Drawdown Indicators
| RPIBX | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.80% | -0.78% | -33.02% |
Max Drawdown (1Y)Largest decline over 1 year | -4.98% | -0.01% | -4.97% |
Max Drawdown (3Y)Largest decline over 3 years | -8.18% | -0.01% | -8.17% |
Max Drawdown (5Y)Largest decline over 5 years | -31.45% | -0.08% | -31.37% |
Max Drawdown (10Y)Largest decline over 10 years | -33.80% | -0.21% | -33.59% |
Current DrawdownCurrent decline from peak | -14.81% | 0.00% | -14.81% |
Average DrawdownAverage peak-to-trough decline | -6.83% | -0.26% | -6.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 0.00% | +2.00% |
Volatility
RPIBX vs. BIL - Volatility Comparison
T. Rowe Price International Bond Fund (RPIBX) has a higher volatility of 1.30% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.07%. This indicates that RPIBX'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
| RPIBX | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 0.07% | +1.23% |
Volatility (6M)Calculated over the trailing 6-month period | 4.88% | 0.14% | +4.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.04% | 0.20% | +5.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.84% | 0.26% | +7.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.22% | 0.26% | +6.96% |
RPIBX vs. BIL - Expense Ratio Comparison
RPIBX has a 0.67% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
RPIBX vs. BIL - Dividend Comparison
RPIBX's dividend yield for the trailing twelve months is around 3.74%, less than BIL's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 3.81% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% | 0.00% |
RPIBX T. Rowe Price International Bond Fund | 3.74% | 4.06% | 5.59% | 4.46% | 1.37% | 1.90% | 1.27% | 1.99% | 2.05% | 1.89% | 1.81% | 1.98% |
Frequently Asked Questions
RPIBX and BIL have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RPIBX has higher volatility (1.30%) compared to BIL (0.07%). In terms of maximum drawdown, RPIBX dropped -33.80% vs BIL's -0.78%.
BIL currently has the higher Sharpe Ratio (19.07 vs -0.11), 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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