SPYV vs. BIL
SPYV (SPDR Portfolio S&P 500 Value ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - SPYV is a S&P 500 fund tracking the S&P 500 Value, 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, SPYV returned 11.90%/yr vs 2.18%/yr for BIL. At a correlation of -0.03, they often move in opposite directions. SPYV charges 0.04%/yr vs 0.14%/yr for BIL.
Performance
SPYV vs. BIL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPYV achieves a 7.46% return, which is significantly higher than BIL's 1.49% return. Over the past 10 years, SPYV has outperformed BIL with an annualized return of 11.90%, while BIL has yielded a comparatively lower 2.18% annualized return.
SPYV
- 1D
- -0.36%
- 1M
- 2.22%
- YTD
- 7.46%
- 6M
- 7.77%
- 1Y
- 21.26%
- 3Y*
- 15.72%
- 5Y*
- 10.68%
- 10Y*
- 11.90%
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%
SPYV vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYV SPDR Portfolio S&P 500 Value ETF | 7.46% | 13.18% | 12.24% | 22.20% | -5.28% | 24.91% | 1.38% | 31.70% | -9.01% | 15.40% |
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 SPYV and BIL is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since May 31, 2007 | -0.03 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPYV vs. BIL — Risk / Return Rank
SPYV
BIL
SPYV vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 500 Value ETF (SPYV) 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.
| SPYV | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.54 | ||
| Sortino ratioReturn per unit of downside risk | -171.11 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 87.91 | -86.52 |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | 355.35 | -351.92 |
| Martin ratioReturn relative to average drawdown | 13.16 | 2,817.77 | -2,804.62 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SPYV | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | 19.71 | -17.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.75 | 13.16 | -12.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 8.52 | -7.82 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 2.78 | -2.35 |
Drawdowns
SPYV vs. BIL - Drawdown Comparison
The maximum SPYV drawdown since its inception was -58.45%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for SPYV and BIL.
Loading charts...
Drawdown Indicators
| SPYV | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.45% | -0.78% | -57.67% |
Max Drawdown (1Y)Largest decline over 1 year | -6.22% | -0.01% | -6.21% |
Max Drawdown (3Y)Largest decline over 3 years | -17.54% | -0.01% | -17.53% |
Max Drawdown (5Y)Largest decline over 5 years | -17.89% | -0.10% | -17.79% |
Max Drawdown (10Y)Largest decline over 10 years | -36.89% | -0.21% | -36.68% |
Current DrawdownCurrent decline from peak | -0.57% | 0.00% | -0.57% |
Average DrawdownAverage peak-to-trough decline | -8.72% | -0.26% | -8.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.62% | 0.00% | +1.62% |
Volatility
SPYV vs. BIL - Volatility Comparison
SPDR Portfolio S&P 500 Value ETF (SPYV) has a higher volatility of 1.98% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that SPYV'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.
Loading charts...
Volatility by Period
| SPYV | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 0.05% | +1.93% |
Volatility (6M)Calculated over the trailing 6-month period | 7.04% | 0.13% | +6.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.84% | 0.20% | +9.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.40% | 0.26% | +14.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.94% | 0.26% | +16.68% |
SPYV vs. BIL - Expense Ratio Comparison
SPYV has a 0.04% expense ratio, which is lower than BIL's 0.14% 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
SPYV vs. BIL - Dividend Comparison
SPYV's dividend yield for the trailing twelve months is around 1.70%, less than BIL's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
SPYV SPDR Portfolio S&P 500 Value ETF | 1.70% | 1.77% | 2.29% | 1.75% | 2.22% | 2.10% | 2.38% | 2.25% | 2.97% | 2.77% | 2.39% | 2.53% |
Frequently Asked Questions
SPYV and BIL have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPYV has higher volatility (1.98%) compared to BIL (0.05%). In terms of maximum drawdown, SPYV dropped -58.45% vs BIL's -0.78%.
On 10-year performance, SPYV leads with 11.90% vs 2.18% for BIL. On fees, SPYV is cheaper at 0.04% 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, SPYV has performed better with a 11.90% return vs 2.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYV is cheaper with a 0.04% expense ratio, compared with 0.14% for BIL.
BIL has the higher dividend yield at 3.86%, compared with 1.70% for SPYV.
SPYV is categorized as S&P 500, while BIL is Government Bonds. SPYV tracks S&P 500 Value, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. Their fees differ too: 0.04% for SPYV and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.71 vs 2.17), 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.
Find the right allocation for SPYV and BIL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer