TBLL vs. BIL
Compare and contrast key facts about Invesco Short Term Treasury ETF (TBLL) and SPDR Barclays 1-3 Month T-Bill ETF (BIL).
TBLL and BIL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TBLL is a passively managed fund by Invesco that tracks the performance of the ICE U.S. Treasury Short Bond Index. It was launched on Jan 10, 2017. 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. Both TBLL and BIL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TBLL or BIL.
Key characteristics
| TBLL | BIL | |
|---|---|---|
| YTD Return | 3.75% | 3.80% |
| 1Y Return | 5.46% | 5.37% |
| 3Y Return (Ann) | 3.29% | 3.38% |
| 5Y Return (Ann) | 2.26% | 2.17% |
| Sharpe Ratio | 6.74 | 20.74 |
| Daily Std Dev | 0.81% | 0.26% |
| Max Drawdown | -0.61% | -0.77% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between TBLL and BIL is 0.28, 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
TBLL vs. BIL - Performance Comparison
The year-to-date returns for both investments are quite close, with TBLL having a 3.75% return and BIL slightly higher at 3.80%. 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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TBLL vs. BIL - Expense Ratio Comparison
TBLL has a 0.08% 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%.
Risk-Adjusted Performance
TBLL vs. BIL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Short Term Treasury ETF (TBLL) 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
TBLL vs. BIL - Dividend Comparison
TBLL's dividend yield for the trailing twelve months is around 4.74%, less than BIL's 5.23% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|
TBLL Invesco Short Term Treasury ETF | 4.74% | 4.63% | 1.37% | 0.05% | 0.80% | 2.24% | 1.69% | 0.71% | 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
TBLL vs. BIL - Drawdown Comparison
The maximum TBLL drawdown since its inception was -0.61%, smaller than the maximum BIL drawdown of -0.77%. Use the drawdown chart below to compare losses from any high point for TBLL and BIL. For additional features, visit the drawdowns tool.
Volatility
TBLL vs. BIL - Volatility Comparison
The current volatility for Invesco Short Term Treasury ETF (TBLL) is 0.08%, while SPDR Barclays 1-3 Month T-Bill ETF (BIL) has a volatility of 0.09%. This indicates that TBLL 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.