SURI vs. BIL
SURI (Simplify Propel Opportunities ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - SURI is a Health & Biotech Equities fund actively managed by Simplify, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. SURI is actively managed, while BIL is passively managed. Over the past 3 years, SURI returned 9.52%/yr vs 4.54%/yr for BIL. Their -0.10 correlation means they have often moved in opposite directions in the past. SURI charges 2.51%/yr vs 0.14%/yr for BIL.
Performance
SURI vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, SURI achieves a 17.59% return, which is significantly higher than BIL's 2.10% return.
SURI
- 1D
- 0.08%
- 1M
- 0.52%
- 6M
- 17.81%
- YTD
- 17.59%
- 1Y
- 42.96%
- 3Y*
- 9.52%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.10%
BIL
- 1D
- 0.01%
- 1M
- 0.28%
- 6M
- 1.78%
- YTD
- 2.10%
- 1Y
- 3.78%
- 3Y*
- 4.54%
- 5Y*
- 3.54%
- 10Y*
- 2.24%
- ALL TIME*
- 1.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $915.12M | $889.94M | $918.56M | |
| $33.33K | $49.11K | $70.76K |
SURI vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SURI Simplify Propel Opportunities ETF | 17.59% | 28.32% | -13.34% | -2.87% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 2.10% | 4.15% | 5.19% | 4.55% |
Correlation
The correlation between SURI and BIL is -0.12, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.12 |
Correlation (3Y) Balances recent behavior with more history. | -0.09 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2023 | -0.10 |
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Return for Risk
SURI vs. BIL — Risk / Return Rank
SURI
BIL
SURI vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Propel Opportunities ETF (SURI) 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.
| SURI | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.23 | ||
| Sortino ratioReturn per unit of downside risk | -149.35 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 68.82 | -67.50 |
| Calmar ratioReturn relative to maximum drawdown | 3.67 | 346.53 | -342.87 |
| Martin ratioReturn relative to average drawdown | 9.75 | 2,457.45 | -2,447.69 |
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Drawdowns
SURI vs. BIL - Drawdown Comparison
The maximum SURI drawdown since its inception was -47.76%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for SURI and BIL.
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Drawdown Indicators
| SURI | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.76% | -0.78% | -46.98% |
Max Drawdown (1Y)Largest decline over 1 year | -11.78% | -0.01% | -11.77% |
Max Drawdown (3Y)Largest decline over 3 years | -47.76% | -0.01% | -47.75% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.08% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.21% | — |
Current DrawdownCurrent decline from peak | -8.53% | 0.00% | -8.53% |
Average DrawdownAverage peak-to-trough decline | -17.07% | -0.26% | -16.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.42% | 0.00% | +4.42% |
Volatility
SURI vs. BIL - Volatility Comparison
Simplify Propel Opportunities ETF (SURI) has a higher volatility of 4.13% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.06%. This indicates that SURI'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
| SURI | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.13% | 0.06% | +4.07% |
Volatility (6M)Calculated over the trailing 6-month period | 14.41% | 0.14% | +14.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.20% | 0.20% | +22.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.88% | 0.26% | +27.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.88% | 0.26% | +27.62% |
SURI vs. BIL - Expense Ratio Comparison
SURI has a 2.51% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
SURI vs. BIL - Dividend Comparison
SURI's dividend yield for the trailing twelve months is around 15.07%, more than BIL's 3.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 3.77% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% |
SURI Simplify Propel Opportunities ETF | 15.07% | 16.31% | 21.41% | 14.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SURI and BIL have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SURI has higher volatility (4.13%) compared to BIL (0.06%). In terms of maximum drawdown, SURI dropped -47.76% vs BIL's -0.78%.
On 3-year performance, SURI leads with 9.52% vs 4.54% for BIL. On fees, BIL is cheaper at 0.14% 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 3-year period, SURI has performed better with a 9.52% return vs 4.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BIL is cheaper with a 0.14% expense ratio, compared with 2.51% for SURI.
SURI has the higher dividend yield at 15.07%, compared with 3.77% for BIL.
SURI is categorized as Health & Biotech Equities, while BIL is Government Bonds. They also come from different issuers: Simplify and State Street. Their fees differ too: 2.51% for SURI and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.17 vs 1.95), 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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