SHE vs. BIL
SHE (SPDR SSGA Gender Diversity Index ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - SHE is a Large Cap Growth Equities fund tracking the SSGA Gender Diversity (TR), while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. Over the past 10 years, SHE returned 12.83%/yr vs 2.18%/yr for BIL. At a 0.00 correlation, their price movements are largely independent. SHE charges 0.20%/yr vs 0.14%/yr for BIL.
Performance
SHE vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, SHE achieves a 19.56% return, which is significantly higher than BIL's 1.49% return. Over the past 10 years, SHE has outperformed BIL with an annualized return of 12.83%, while BIL has yielded a comparatively lower 2.18% annualized return.
SHE
- 1D
- -0.58%
- 1M
- 10.08%
- YTD
- 19.56%
- 6M
- 21.08%
- 1Y
- 31.32%
- 3Y*
- 24.28%
- 5Y*
- 10.89%
- 10Y*
- 12.83%
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%
SHE vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHE SPDR SSGA Gender Diversity Index ETF | 19.56% | 15.50% | 23.35% | 22.37% | -21.73% | 15.17% | 17.93% | 23.63% | -3.48% | 19.56% |
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 SHE and BIL is -0.04, 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 | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2016 | 0.00 |
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Return for Risk
SHE vs. BIL — Risk / Return Rank
SHE
BIL
SHE vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA Gender Diversity Index ETF (SHE) 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.
| SHE | BIL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.43 | 19.71 | -17.28 |
Sortino ratioReturn per unit of downside risk | 3.43 | 174.16 | -170.74 |
Omega ratioGain probability vs. loss probability | 1.43 | 87.91 | -86.48 |
Calmar ratioReturn relative to maximum drawdown | 3.68 | 355.35 | -351.67 |
Martin ratioReturn relative to average drawdown | 14.98 | 2,817.77 | -2,802.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHE | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.43 | 19.71 | -17.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 13.16 | -12.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 8.52 | -7.81 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 2.78 | -2.04 |
Drawdowns
SHE vs. BIL - Drawdown Comparison
The maximum SHE drawdown since its inception was -35.80%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for SHE and BIL.
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Drawdown Indicators
| SHE | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.80% | -0.78% | -35.02% |
Max Drawdown (1Y)Largest decline over 1 year | -8.54% | -0.01% | -8.53% |
Max Drawdown (3Y)Largest decline over 3 years | -17.07% | -0.01% | -17.06% |
Max Drawdown (5Y)Largest decline over 5 years | -31.69% | -0.10% | -31.59% |
Max Drawdown (10Y)Largest decline over 10 years | -35.80% | -0.21% | -35.59% |
Current DrawdownCurrent decline from peak | -0.58% | 0.00% | -0.58% |
Average DrawdownAverage peak-to-trough decline | -6.30% | -0.26% | -6.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.10% | 0.00% | +2.10% |
Volatility
SHE vs. BIL - Volatility Comparison
SPDR SSGA Gender Diversity Index ETF (SHE) has a higher volatility of 5.06% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that SHE'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
| SHE | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.06% | 0.05% | +5.01% |
Volatility (6M)Calculated over the trailing 6-month period | 10.29% | 0.13% | +10.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.94% | 0.20% | +12.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.22% | 0.26% | +16.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.04% | 0.26% | +17.78% |
SHE vs. BIL - Expense Ratio Comparison
SHE has a 0.20% 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
SHE vs. BIL - Dividend Comparison
SHE's dividend yield for the trailing twelve months is around 1.06%, 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% |
SHE SPDR SSGA Gender Diversity Index ETF | 1.06% | 1.18% | 1.14% | 1.37% | 1.54% | 0.99% | 1.24% | 1.91% | 7.39% | 5.37% | 6.41% |
Frequently Asked Questions
SHE and BIL have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHE has higher volatility (5.06%) compared to BIL (0.05%). In terms of maximum drawdown, SHE dropped -35.80% vs BIL's -0.78%.
On 10-year performance, SHE leads with 12.83% 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, SHE has performed better with a 12.83% 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 0.20% for SHE.
BIL has the higher dividend yield at 3.86%, compared with 1.06% for SHE.
SHE is categorized as Large Cap Growth Equities, while BIL is Government Bonds. SHE tracks SSGA Gender Diversity (TR), while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. Their fees differ too: 0.20% for SHE and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.71 vs 2.43), 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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