SPAXX vs. BIL
Compare and contrast key facts about Fidelity Government Money Market Fund (SPAXX) and SPDR Barclays 1-3 Month T-Bill ETF (BIL).
SPAXX is managed by Fidelity. It was launched on Feb 5, 1990. 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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPAXX or BIL.
Key characteristics
| SPAXX | BIL | |
|---|---|---|
| YTD Return | 0.86% | 3.80% |
| 1Y Return | 2.11% | 5.37% |
| 3Y Return (Ann) | 2.26% | 3.38% |
| 5Y Return (Ann) | 1.49% | 2.17% |
| 10Y Return (Ann) | 0.78% | 1.47% |
| Sharpe Ratio | 2.71 | 20.74 |
| Daily Std Dev | 1.00% | 0.26% |
| Max Drawdown | 0.00% | -0.77% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between SPAXX and BIL is 0.03, 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.
Performance
SPAXX vs. BIL - Performance Comparison
In the year-to-date period, SPAXX achieves a 0.86% return, which is significantly lower than BIL's 3.80% return. Over the past 10 years, SPAXX has underperformed BIL with an annualized return of 0.78%, while BIL has yielded a comparatively higher 1.47% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SPAXX vs. BIL - Expense Ratio Comparison
Risk-Adjusted Performance
SPAXX vs. BIL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Government Money Market Fund (SPAXX) 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.
Dividends
SPAXX vs. BIL - Dividend Comparison
SPAXX's dividend yield for the trailing twelve months is around 4.99%, less than BIL's 5.23% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|
SPAXX Fidelity Government Money Market Fund | 4.99% | 4.68% | 1.30% | 0.01% | 0.26% | 0.98% | 0.00% | 0.00% | 0.00% |
BIL SPDR Barclays 1-3 Month T-Bill ETF | 5.23% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% |
Drawdowns
SPAXX vs. BIL - Drawdown Comparison
The maximum SPAXX drawdown since its inception was 0.00%, smaller than the maximum BIL drawdown of -0.77%. Use the drawdown chart below to compare losses from any high point for SPAXX and BIL. For additional features, visit the drawdowns tool.
Volatility
SPAXX vs. BIL - Volatility Comparison
The current volatility for Fidelity Government Money Market Fund (SPAXX) is 0.00%, while SPDR Barclays 1-3 Month T-Bill ETF (BIL) has a volatility of 0.09%. This indicates that SPAXX experiences smaller price fluctuations and is considered to be less risky than BIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.