SPTU vs. TBIL
SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) and TBIL (F/m US Treasury 3 Month Bill ETF) are both Ultrashort Bond funds - SPTU tracks the ICE BofA US Treasury Bill Index while TBIL tracks the Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index. Both are passively managed. Their 0.42 correlation means their historical movements had little consistent relationship. SPTU charges 0.05%/yr vs 0.15%/yr for TBIL.
Performance
SPTU vs. TBIL - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with SPTU at 2.11% and TBIL at 2.11%.
SPTU
- 1D
- 0.04%
- 1M
- 0.32%
- 6M
- 1.82%
- YTD
- 2.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
TBIL
- 1D
- 0.04%
- 1M
- 0.28%
- 6M
- 1.80%
- YTD
- 2.11%
- 1Y
- 3.85%
- 3Y*
- 4.57%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $29.52K | $31.42K | $66.34K | |
| $84.47M | $81.39M | $91.49M |
SPTU vs. TBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF | 2.11% | 0.87% |
TBIL F/m US Treasury 3 Month Bill ETF | 2.11% | 0.93% |
Correlation
The correlation between SPTU and TBIL is 0.42, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 8, 2025 | 0.42 |
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Return for Risk
SPTU vs. TBIL — Risk / Return Rank
SPTU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TBIL
SPTU vs. TBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU) and F/m US Treasury 3 Month Bill ETF (TBIL). 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.
| SPTU | TBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 22.93 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 195.78 | — |
| Martin ratioReturn relative to average drawdown | — | 1,113.66 | — |
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Drawdowns
SPTU vs. TBIL - Drawdown Comparison
The maximum SPTU drawdown since its inception was -0.04%, smaller than the maximum TBIL drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for SPTU and TBIL.
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Drawdown Indicators
| SPTU | TBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.04% | -0.10% | +0.06% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.02% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.02% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | 0.00% | 0.00% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.00% | — |
Volatility
SPTU vs. TBIL - Volatility Comparison
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Volatility by Period
| SPTU | TBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.09% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.20% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.32% | 0.28% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.32% | 0.32% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.32% | 0.32% | 0.00% |
SPTU vs. TBIL - Expense Ratio Comparison
SPTU has a 0.05% expense ratio, which is lower than TBIL's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPTU vs. TBIL - Dividend Comparison
SPTU's dividend yield for the trailing twelve months is around 2.65%, less than TBIL's 4.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF | 2.65% | 0.89% | 0.00% | 0.00% | 0.00% |
TBIL F/m US Treasury 3 Month Bill ETF | 3.69% | 4.07% | 5.02% | 5.00% | 1.10% |
Frequently Asked Questions
SPTU and TBIL have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPTU is cheaper with a 0.05% expense ratio, compared with 0.15% for TBIL.
TBIL has the higher dividend yield at 3.69%, compared with 2.65% for SPTU.
SPTU tracks ICE BofA US Treasury Bill Index, while TBIL tracks Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index. They also come from different issuers: State Street and F/m. Their fees differ too: 0.05% for SPTU and 0.15% for TBIL.
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