TLTX vs. BIL

Last updated Jun 4, 2026

TLTX (Global X Treasury Bond Enhanced Income ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both Government Bonds funds. TLTX is actively managed, while BIL is passively managed. At a correlation of -0.10, they often move in opposite directions. TLTX charges 0.29%/yr vs 0.14%/yr for BIL.

Performance

TLTX vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Treasury Bond Enhanced Income ETF (TLTX) 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, TLTX achieves a -0.36% return, which is significantly lower than BIL's 1.49% return.

TLTX

• 1D: -0.37%
• 1M: -0.19%
• YTD: -0.36%
• 6M: -1.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BIL

• 1D: 0.00%
• 1M: 0.27%
• YTD: 1.49%
• 6M: 1.76%
• 1Y: 3.87%
• 3Y*: 4.64%
• 5Y*: 3.41%
• 10Y*: 2.18%

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

TLTX vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025
TLTX Global X Treasury Bond Enhanced Income ETF	-0.36%	5.40%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.49%	1.85%

Correlation

The correlation between TLTX 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 Jul 17, 2025	-0.10

Return for Risk

TLTX 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.

TLTX vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Treasury Bond Enhanced Income ETF (TLTX) 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

	TLTX	BIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	19.71	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	13.15	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	8.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	2.78	-2.15

Drawdowns

TLTX vs. BIL - Drawdown Comparison

The maximum TLTX drawdown since its inception was -6.35%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for TLTX and BIL.

Drawdown Indicators

	TLTX	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-6.35%	-0.78%	-5.57%
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	-4.05%	0.00%	-4.05%
Average Drawdown Average peak-to-trough decline	-2.27%	-0.26%	-2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	TLTX	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.14%	0.20%	+8.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.14%	0.26%	+8.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.14%	0.26%	+8.88%

TLTX vs. BIL - Expense Ratio Comparison

TLTX has a 0.29% expense ratio, which is higher than BIL's 0.14% expense ratio.

Dividends

TLTX vs. BIL - Dividend Comparison

TLTX's dividend yield for the trailing twelve months is around 15.79%, 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%
TLTX Global X Treasury Bond Enhanced Income ETF	15.79%	7.54%	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 TLTX and BIL in my portfolio?

TLTX 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 is better, TLTX or BIL?

On fees, BIL is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TLTX or BIL?

BIL is cheaper with a 0.14% expense ratio, compared with 0.29% for TLTX.

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

TLTX has the higher dividend yield at 15.79%, compared with 3.86% for BIL.

What is the main difference between TLTX and BIL?

They also come from different issuers: Global X and State Street. Their fees differ too: 0.29% for TLTX and 0.14% for BIL.