TIPB vs. BIL

Last updated Jun 4, 2026

TIPB (Northern Trust 2035 Inflation-Linked Distributing Ladder ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - TIPB is a Inflation-Protected Bonds fund actively managed by Northern Trust, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. TIPB is actively managed, while BIL is passively managed. At a correlation of -0.10, they often move in opposite directions.

Performance

TIPB vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust 2035 Inflation-Linked Distributing Ladder ETF (TIPB) 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, TIPB achieves a 1.86% return, which is significantly higher than BIL's 1.49% return.

TIPB

• 1D: -0.12%
• 1M: -0.22%
• YTD: 1.86%
• 6M: 1.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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%

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

TIPB vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025
TIPB Northern Trust 2035 Inflation-Linked Distributing Ladder ETF	1.86%	0.79%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.49%	1.45%

Correlation

The correlation between TIPB and BIL is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 20, 2025	-0.10

Return for Risk

TIPB vs. BIL — Risk / Return Rank

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

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.

TIPB vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust 2035 Inflation-Linked Distributing Ladder ETF (TIPB) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TIPB	BIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	19.71	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	13.16	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	8.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	2.78	-1.43

Drawdowns

TIPB vs. BIL - Drawdown Comparison

The maximum TIPB drawdown since its inception was -1.32%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for TIPB and BIL.

Drawdown Indicators

	TIPB	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-1.32%	-0.78%	-0.54%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.01%	—
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	-0.31%	0.00%	-0.31%
Average Drawdown Average peak-to-trough decline	-0.37%	-0.26%	-0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	TIPB	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.54%	0.20%	+2.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.54%	0.26%	+2.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.54%	0.26%	+2.28%

Dividends

TIPB vs. BIL - Dividend Comparison

TIPB's dividend yield for the trailing twelve months is around 3.02%, less 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%
TIPB Northern Trust 2035 Inflation-Linked Distributing Ladder ETF	3.02%	1.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TIPB and BIL in my portfolio?

TIPB and BIL have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

BIL has the higher dividend yield at 3.86%, compared with 3.02% for TIPB.

What is the main difference between TIPB and BIL?

TIPB is categorized as Inflation-Protected Bonds, while BIL is Government Bonds. They also come from different issuers: Northern Trust and State Street.