SHRY vs. BIL
SHRY (First Trust Bloomberg Shareholder Yield ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - SHRY is a Large Cap Blend Equities fund tracking the Bloomberg Shareholder Yield Index - Benchmark TR Gross, 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 5 years, SHRY returned 7.45%/yr vs 3.45%/yr for BIL. At a 0.00 correlation, their price movements are largely independent. SHRY charges 0.60%/yr vs 0.14%/yr for BIL.
Performance
SHRY vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, SHRY achieves a 1.35% return, which is significantly lower than BIL's 1.67% return.
SHRY
- 1D
- 0.17%
- 1M
- -4.07%
- YTD
- 1.35%
- 6M
- 0.93%
- 1Y
- 3.11%
- 3Y*
- 12.30%
- 5Y*
- 7.45%
- 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%
SHRY vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHRY First Trust Bloomberg Shareholder Yield ETF | 1.35% | 7.29% | 17.27% | 17.47% | -14.21% | 30.50% | 11.86% | 30.69% | -9.35% | 10.45% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.67% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.44% |
Correlation
The correlation between SHRY 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 | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2017 | 0.00 |
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Return for Risk
SHRY vs. BIL — Risk / Return Rank
SHRY
BIL
SHRY vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Bloomberg Shareholder Yield ETF (SHRY) 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.
| SHRY | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -19.03 | ||
| Sortino ratioReturn per unit of downside risk | -172.19 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 87.16 | -86.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | 352.24 | -351.81 |
| Martin ratioReturn relative to average drawdown | 1.11 | 2,793.11 | -2,792.00 |
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Drawdowns
SHRY vs. BIL - Drawdown Comparison
The maximum SHRY drawdown since its inception was -36.67%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for SHRY and BIL.
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Drawdown Indicators
| SHRY | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.67% | -0.78% | -35.89% |
Max Drawdown (1Y)Largest decline over 1 year | -7.20% | -0.01% | -7.19% |
Max Drawdown (3Y)Largest decline over 3 years | -15.34% | -0.01% | -15.33% |
Max Drawdown (5Y)Largest decline over 5 years | -23.94% | -0.09% | -23.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.21% | — |
Current DrawdownCurrent decline from peak | -6.40% | 0.00% | -6.40% |
Average DrawdownAverage peak-to-trough decline | -5.03% | -0.26% | -4.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.81% | 0.00% | +2.81% |
Volatility
SHRY vs. BIL - Volatility Comparison
First Trust Bloomberg Shareholder Yield ETF (SHRY) has a higher volatility of 3.30% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.07%. This indicates that SHRY'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
| SHRY | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.30% | 0.07% | +3.23% |
Volatility (6M)Calculated over the trailing 6-month period | 7.74% | 0.14% | +7.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.90% | 0.20% | +10.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.68% | 0.26% | +15.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.16% | 0.26% | +17.90% |
SHRY vs. BIL - Expense Ratio Comparison
SHRY has a 0.60% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
SHRY vs. BIL - Dividend Comparison
SHRY's dividend yield for the trailing twelve months is around 1.74%, less 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% |
SHRY First Trust Bloomberg Shareholder Yield ETF | 1.74% | 1.73% | 1.76% | 1.49% | 1.52% | 0.98% | 1.65% | 1.54% | 1.89% | 0.55% | 0.00% |
Frequently Asked Questions
SHRY 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.
SHRY has higher volatility (3.30%) compared to BIL (0.07%). In terms of maximum drawdown, SHRY dropped -36.67% vs BIL's -0.78%.
On 5-year performance, SHRY leads with 7.45% vs 3.45% for BIL. On fees, BIL is cheaper at 0.14% per year. On volatility, BIL has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SHRY has performed better with a 7.45% return vs 3.45%. 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 0.60% for SHRY.
BIL has the higher dividend yield at 3.85%, compared with 1.74% for SHRY.
SHRY is categorized as Large Cap Blend Equities, while BIL is Government Bonds. SHRY tracks Bloomberg Shareholder Yield Index - Benchmark TR Gross, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: First Trust and State Street. Their fees differ too: 0.60% for SHRY and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.32 vs 0.29), 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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