PortfoliosLab logoPortfoliosLab logo
RWO vs. BIL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

RWO vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Dow Jones Global Real Estate ETF (RWO) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, RWO achieves a 7.94% return, which is significantly higher than BIL's 1.49% return. Over the past 10 years, RWO has outperformed BIL with an annualized return of 3.42%, while BIL has yielded a comparatively lower 2.18% annualized return.


RWO

1D
-0.14%
1M
-1.07%
YTD
7.94%
6M
7.05%
1Y
12.86%
3Y*
9.49%
5Y*
1.93%
10Y*
3.42%

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)

RWO vs. BIL - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
RWO
SPDR Dow Jones Global Real Estate ETF
7.94%8.87%1.76%10.91%-25.11%31.03%-10.44%21.17%-6.04%7.80%
BIL
SPDR Bloomberg 1-3 Month T-Bill ETF
1.49%4.15%5.19%4.94%1.40%-0.10%0.40%2.03%1.74%0.69%

Correlation

The correlation between RWO and BIL is 0.01, 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

0.01

Correlation (3Y)
Calculated over the trailing 3-year period

-0.01

Correlation (5Y)
Calculated over the trailing 5-year period

-0.00

Correlation (10Y)
Calculated over the trailing 10-year period

-0.00

Correlation (All Time)
Calculated using the full available price history since May 23, 2008

-0.02

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Return for Risk

RWO vs. BIL — Risk / Return Rank

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

RWO
RWO Risk / Return Rank: 2929
Overall Rank
RWO Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
RWO Sortino Ratio Rank: 2626
Sortino Ratio Rank
RWO Omega Ratio Rank: 2626
Omega Ratio Rank
RWO Calmar Ratio Rank: 2828
Calmar Ratio Rank
RWO Martin Ratio Rank: 3434
Martin Ratio Rank

BIL
BIL Risk / Return Rank: 100100
Overall Rank
BIL Sharpe Ratio Rank: 100100
Sharpe Ratio Rank
BIL Sortino Ratio Rank: 100100
Sortino Ratio Rank
BIL Omega Ratio Rank: 100100
Omega Ratio Rank
BIL Calmar Ratio Rank: 100100
Calmar Ratio Rank
BIL Martin Ratio Rank: 100100
Martin Ratio Rank
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.

RWO vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones Global Real Estate ETF (RWO) 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.


RWOBILDifference
Sharpe ratioReturn per unit of total volatility

-18.69

Sortino ratioReturn per unit of downside risk

-172.71

Omega ratioGain probability vs. loss probability

1.18

87.91

-86.73

Calmar ratioReturn relative to maximum drawdown

1.36

355.35

-354.00

Martin ratioReturn relative to average drawdown

5.27

2,817.77

-2,812.50

RWO vs. BIL - Sharpe Ratio Comparison

The current RWO Sharpe Ratio is 1.02, which is lower than the BIL Sharpe Ratio of 19.71. The chart below compares the historical Sharpe Ratios of RWO 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.


Loading charts...

Sharpe Ratios by Period


RWOBILDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.02

19.71

-18.69

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.11

13.16

-13.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.19

8.52

-8.33

Sharpe Ratio (All Time)

Calculated using the full available price history

0.16

2.78

-2.61

Drawdowns

RWO vs. BIL - Drawdown Comparison

The maximum RWO drawdown since its inception was -67.69%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for RWO and BIL.


Loading charts...

Drawdown Indicators


RWOBILDifference

Max Drawdown

Largest peak-to-trough decline

-67.69%

-0.78%

-66.91%

Max Drawdown (1Y)

Largest decline over 1 year

-9.51%

-0.01%

-9.50%

Max Drawdown (3Y)

Largest decline over 3 years

-17.66%

-0.01%

-17.65%

Max Drawdown (5Y)

Largest decline over 5 years

-32.85%

-0.10%

-32.75%

Max Drawdown (10Y)

Largest decline over 10 years

-43.27%

-0.21%

-43.06%

Current Drawdown

Current decline from peak

-3.23%

0.00%

-3.23%

Average Drawdown

Average peak-to-trough decline

-12.68%

-0.26%

-12.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.45%

0.00%

+2.45%

Volatility

RWO vs. BIL - Volatility Comparison

SPDR Dow Jones Global Real Estate ETF (RWO) has a higher volatility of 3.93% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that RWO'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.


Loading charts...

Volatility by Period


RWOBILDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.93%

0.05%

+3.88%

Volatility (6M)

Calculated over the trailing 6-month period

9.33%

0.13%

+9.20%

Volatility (1Y)

Calculated over the trailing 1-year period

12.69%

0.20%

+12.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.03%

0.26%

+16.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.21%

0.26%

+17.95%

RWO vs. BIL - Expense Ratio Comparison

RWO has a 0.50% expense ratio, which is higher than BIL's 0.14% expense ratio.


Dividends

RWO vs. BIL - Dividend Comparison

RWO's dividend yield for the trailing twelve months is around 3.35%, less than BIL's 3.86% yield.


PositionTTM20252024202320222021202020192018201720162015
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%0.00%
RWO
SPDR Dow Jones Global Real Estate ETF
3.35%3.62%3.68%3.53%3.69%2.79%3.25%3.97%3.90%3.26%3.77%2.97%

Frequently Asked Questions


RWO and BIL have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

RWO has higher volatility (3.93%) compared to BIL (0.05%). In terms of maximum drawdown, RWO dropped -67.69% vs BIL's -0.78%.

On 10-year performance, RWO leads with 3.42% vs 2.18% for BIL. On fees, BIL is cheaper at 0.14% per year. On volatility, BIL has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, RWO has performed better with a 3.42% return vs 2.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BIL is cheaper with a 0.14% expense ratio, compared with 0.50% for RWO.

BIL has the higher dividend yield at 3.86%, compared with 3.35% for RWO.

RWO is categorized as REIT, while BIL is Government Bonds. RWO tracks Dow Jones Global Select Real Estate Securities Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. Their fees differ too: 0.50% for RWO and 0.14% for BIL.

BIL currently has the higher Sharpe Ratio (19.71 vs 1.02), 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.

Portfolio Optimizer

Find the right allocation for RWO and BIL

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer