THTA vs. BIL

Last updated Jun 3, 2026

THTA (SoFi Enhanced Yield ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - THTA is a Derivative Income fund actively managed by SoFi, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. THTA is actively managed, while BIL is passively managed. Over the past year, THTA returned 16.62% vs 3.87% for BIL. At a correlation of -0.05, they often move in opposite directions. THTA charges 0.49%/yr vs 0.14%/yr for BIL.

Performance

THTA vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SoFi Enhanced Yield ETF (THTA) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THTA achieves a 6.88% return, which is significantly higher than BIL's 1.46% return.

THTA

• 1D: 0.13%
• 1M: 0.64%
• YTD: 6.88%
• 6M: 8.17%
• 1Y: 16.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BIL

• 1D: -0.01%
• 1M: 0.28%
• YTD: 1.46%
• 6M: 1.76%
• 1Y: 3.87%
• 3Y*: 4.63%
• 5Y*: 3.41%
• 10Y*: 2.18%

*Multi-year figures are annualized to reflect compound growth (CAGR)

THTA vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
THTA SoFi Enhanced Yield ETF	6.88%	-10.24%	7.31%	1.04%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.46%	4.15%	5.19%	0.67%

Correlation

The correlation between THTA and BIL is -0.04, 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	-0.04
Correlation (All Time) Calculated using the full available price history since Nov 16, 2023	-0.05

Return for Risk

THTA vs. BIL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

THTA

THTA Risk / Return Rank: 92
THTA Sharpe Ratio Rank: 86
THTA Sortino Ratio Rank: 90
THTA Omega Ratio Rank: 95
THTA Calmar Ratio Rank: 92
THTA Martin Ratio Rank: 97

BIL

BIL Risk / Return Rank: 100
BIL Sharpe Ratio Rank: 100
BIL Sortino Ratio Rank: 100
BIL Omega Ratio Rank: 100
BIL Calmar Ratio Rank: 100
BIL Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

THTA vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SoFi Enhanced Yield ETF (THTA) 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.

	THTA	BIL	Difference
Sharpe ratio Return per unit of total volatility	2.88	19.71	-16.83
Sortino ratio Return per unit of downside risk	4.25	174.16	-169.91
Omega ratio Gain probability vs. loss probability	1.74	87.91	-86.17
Calmar ratio Return relative to maximum drawdown	6.28	355.62	-349.34
Martin ratio Return relative to average drawdown	51.29	2,825.49	-2,774.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THTA vs. BIL - Sharpe Ratio Comparison

The current THTA Sharpe Ratio is 2.88, which is lower than the BIL Sharpe Ratio of 19.71. The chart below compares the historical Sharpe Ratios of THTA and BIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	THTA	BIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.88	19.71	-16.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	13.15	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	8.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	2.77	-2.70

Drawdowns

THTA vs. BIL - Drawdown Comparison

The maximum THTA drawdown since its inception was -31.41%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for THTA and BIL.

Drawdown Indicators

	THTA	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-31.41%	-0.78%	-30.63%
Max Drawdown (1Y) Largest decline over 1 year	-2.64%	-0.01%	-2.63%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.10%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.21%	—
Current Drawdown Current decline from peak	-6.77%	-0.01%	-6.76%
Average Drawdown Average peak-to-trough decline	-7.52%	-0.26%	-7.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	0.00%	+0.32%

Volatility

THTA vs. BIL - Volatility Comparison

SoFi Enhanced Yield ETF (THTA) has a higher volatility of 0.75% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that THTA'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.

Volatility by Period

	THTA	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.75%	0.05%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	4.00%	0.13%	+3.87%
Volatility (1Y) Calculated over the trailing 1-year period	5.80%	0.20%	+5.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.27%	0.26%	+20.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.27%	0.26%	+20.01%

THTA vs. BIL - Expense Ratio Comparison

THTA has a 0.49% expense ratio, which is higher than BIL's 0.14% expense ratio.

Dividends

THTA vs. BIL - Dividend Comparison

THTA's dividend yield for the trailing twelve months is around 11.26%, 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%
THTA SoFi Enhanced Yield ETF	11.26%	12.66%	12.44%	0.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both THTA and BIL in my portfolio?

THTA and BIL have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THTA or BIL?

THTA has higher volatility (0.75%) compared to BIL (0.05%). In terms of maximum drawdown, THTA dropped -31.41% vs BIL's -0.78%.

Which ETF is better, THTA or BIL?

On 1-year performance, THTA leads with 16.62% vs 3.87% for BIL. On fees, BIL is cheaper at 0.14% 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.

Which ETF has performed better, THTA or BIL?

Over the 1-year period, THTA has performed better with a 16.62% return vs 3.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, THTA or BIL?

BIL is cheaper with a 0.14% expense ratio, compared with 0.49% for THTA.

Which ETF pays a higher dividend yield, THTA or BIL?

THTA has the higher dividend yield at 11.26%, compared with 3.86% for BIL.

What is the main difference between THTA and BIL?

THTA is categorized as Derivative Income, while BIL is Government Bonds. They also come from different issuers: SoFi and State Street. Their fees differ too: 0.49% for THTA and 0.14% for BIL.

Which has better risk-adjusted returns?

BIL currently has the higher Sharpe Ratio (19.71 vs 2.88), 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.