STIP vs. BIL
STIP (iShares 0-5 Year TIPS Bond ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - STIP is a Inflation-Protected Bonds fund tracking the Bloomberg US Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L), 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, STIP returned 3.14%/yr vs 2.20%/yr for BIL. At a 0.02 correlation, their price movements are largely independent. STIP charges 0.06%/yr vs 0.14%/yr for BIL.
Performance
STIP vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, STIP achieves a 1.87% return, which is significantly higher than BIL's 1.60% return. Over the past 10 years, STIP has outperformed BIL with an annualized return of 3.14%, while BIL has yielded a comparatively lower 2.20% annualized return.
STIP
- 1D
- -0.02%
- 1M
- -0.09%
- YTD
- 1.87%
- 6M
- 1.97%
- 1Y
- 4.54%
- 3Y*
- 5.26%
- 5Y*
- 3.38%
- 10Y*
- 3.14%
BIL
- 1D
- 0.03%
- 1M
- 0.29%
- YTD
- 1.60%
- 6M
- 1.76%
- 1Y
- 3.85%
- 3Y*
- 4.63%
- 5Y*
- 3.43%
- 10Y*
- 2.20%
STIP vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
STIP iShares 0-5 Year TIPS Bond ETF | 1.87% | 6.03% | 4.77% | 4.63% | -3.02% | 5.68% | 5.18% | 4.89% | 0.54% | 0.74% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.60% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Correlation
The correlation between STIP and BIL is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2010 | 0.02 |
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Return for Risk
STIP vs. BIL — Risk / Return Rank
STIP
BIL
STIP vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year TIPS Bond ETF (STIP) 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.
| STIP | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -16.46 | ||
| Sortino ratioReturn per unit of downside risk | -169.69 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 88.41 | -86.73 |
| Calmar ratioReturn relative to maximum drawdown | 6.63 | 357.44 | -350.81 |
| Martin ratioReturn relative to average drawdown | 25.91 | 2,834.34 | -2,808.43 |
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Drawdowns
STIP vs. BIL - Drawdown Comparison
The maximum STIP drawdown since its inception was -5.50%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for STIP and BIL.
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Drawdown Indicators
| STIP | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.50% | -0.78% | -4.72% |
Max Drawdown (1Y)Largest decline over 1 year | -0.69% | -0.01% | -0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -0.95% | -0.01% | -0.94% |
Max Drawdown (5Y)Largest decline over 5 years | -5.50% | -0.09% | -5.41% |
Max Drawdown (10Y)Largest decline over 10 years | -5.50% | -0.21% | -5.29% |
Current DrawdownCurrent decline from peak | -0.20% | 0.00% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -0.99% | -0.26% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 0.00% | +0.18% |
Volatility
STIP vs. BIL - Volatility Comparison
iShares 0-5 Year TIPS Bond ETF (STIP) has a higher volatility of 0.41% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.06%. This indicates that STIP'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
| STIP | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 0.06% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 1.01% | 0.14% | +0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.45% | 0.20% | +1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.74% | 0.26% | +2.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.45% | 0.26% | +2.19% |
STIP vs. BIL - Expense Ratio Comparison
STIP has a 0.06% 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
STIP vs. BIL - Dividend Comparison
STIP's dividend yield for the trailing twelve months is around 4.31%, more than BIL's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
STIP iShares 0-5 Year TIPS Bond ETF | 4.31% | 4.11% | 2.62% | 2.84% | 6.04% | 4.15% | 1.40% | 2.06% | 2.44% | 1.59% | 0.89% |
Frequently Asked Questions
STIP and BIL have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
STIP has higher volatility (0.41%) compared to BIL (0.06%). In terms of maximum drawdown, STIP dropped -5.50% vs BIL's -0.78%.
On 10-year performance, STIP leads with 3.14% vs 2.20% for BIL. On fees, STIP is cheaper at 0.06% per year. On volatility, BIL has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, STIP has performed better with a 3.14% return vs 2.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
STIP is cheaper with a 0.06% expense ratio, compared with 0.14% for BIL.
STIP has the higher dividend yield at 4.31%, compared with 3.86% for BIL.
STIP is categorized as Inflation-Protected Bonds, while BIL is Government Bonds. STIP tracks Bloomberg US Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L), while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.06% for STIP and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.63 vs 3.17), 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.
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