SJB vs. BIL
Compare and contrast key facts about ProShares Short High Yield (SJB) and SPDR Barclays 1-3 Month T-Bill ETF (BIL).
SJB and BIL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SJB is a passively managed fund by ProShares that tracks the performance of the iBoxx $ Liquid High Yield Index (-100%). It was launched on Mar 21, 2011. BIL is a passively managed fund by State Street that tracks the performance of the Barclays Capital U.S. 1-3 Month Treasury Bill Index. It was launched on May 25, 2007. Both SJB and BIL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SJB vs. BIL - Performance Comparison
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SJB vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SJB ProShares Short High Yield | 1.76% | -1.87% | -0.84% | -5.63% | 9.57% | -6.69% | -9.23% | -11.42% | 2.47% | -6.17% |
BIL SPDR Barclays 1-3 Month T-Bill ETF | 0.85% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Returns By Period
In the year-to-date period, SJB achieves a 1.76% return, which is significantly higher than BIL's 0.85% return. Over the past 10 years, SJB has underperformed BIL with an annualized return of -4.13%, while BIL has yielded a comparatively higher 2.12% annualized return.
SJB
- 1D
- -1.05%
- 1M
- 1.33%
- YTD
- 1.76%
- 6M
- 2.10%
- 1Y
- -0.56%
- 3Y*
- -1.29%
- 5Y*
- -0.64%
- 10Y*
- -4.13%
BIL
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 0.85%
- 6M
- 1.84%
- 1Y
- 3.99%
- 3Y*
- 4.70%
- 5Y*
- 3.27%
- 10Y*
- 2.12%
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SJB vs. BIL - Expense Ratio Comparison
SJB has a 0.95% expense ratio, which is higher than BIL's 0.14% expense ratio.
Return for Risk
SJB vs. BIL — Risk / Return Rank
SJB
BIL
SJB vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short High Yield (SJB) and SPDR Barclays 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.
| SJB | BIL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.10 | 19.52 | -19.61 |
Sortino ratioReturn per unit of downside risk | -0.10 | 254.04 | -254.14 |
Omega ratioGain probability vs. loss probability | 0.99 | 180.28 | -179.29 |
Calmar ratioReturn relative to maximum drawdown | -0.09 | 365.54 | -365.63 |
Martin ratioReturn relative to average drawdown | -0.11 | 4,104.04 | -4,104.15 |
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
| SJB | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.10 | 19.52 | -19.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.09 | 12.54 | -12.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.48 | 8.22 | -8.71 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.60 | 2.72 | -3.32 |
Correlation
The correlation between SJB and BIL is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SJB vs. BIL - Dividend Comparison
SJB's dividend yield for the trailing twelve months is around 3.40%, less than BIL's 4.01% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
SJB ProShares Short High Yield | 3.40% | 3.86% | 5.86% | 4.10% | 0.46% | 0.00% | 0.07% | 1.27% | 0.71% | 0.00% | 0.00% |
BIL SPDR Barclays 1-3 Month T-Bill ETF | 3.66% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% |
Drawdowns
SJB vs. BIL - Drawdown Comparison
The maximum SJB drawdown since its inception was -58.06%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for SJB and BIL.
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Drawdown Indicators
| SJB | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.06% | -0.78% | -57.28% |
Max Drawdown (1Y)Largest decline over 1 year | -6.35% | -0.01% | -6.34% |
Max Drawdown (5Y)Largest decline over 5 years | -13.30% | -0.12% | -13.18% |
Max Drawdown (10Y)Largest decline over 10 years | -36.52% | -0.21% | -36.31% |
Current DrawdownCurrent decline from peak | -56.97% | 0.00% | -56.97% |
Average DrawdownAverage peak-to-trough decline | -42.30% | -0.26% | -42.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.16% | 0.00% | +5.16% |
Volatility
SJB vs. BIL - Volatility Comparison
ProShares Short High Yield (SJB) has a higher volatility of 2.25% compared to SPDR Barclays 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that SJB'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
| SJB | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.25% | 0.05% | +2.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 0.14% | +2.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.69% | 0.21% | +5.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.50% | 0.26% | +7.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.55% | 0.26% | +8.29% |