TROT vs. BIL

Last updated Jul 1, 2026

TROT (Invesco MSCI Treasury Duration Rotation ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both Government Bonds funds - TROT tracks the MSCI Treasury Duration Rotation Index while BIL tracks the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. At a correlation of -0.16, they often move in opposite directions.

Performance

TROT vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI Treasury Duration Rotation ETF (TROT) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TROT

• 1D: -0.12%
• 1M: 0.09%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BIL

• 1D: 0.00%
• 1M: 0.27%
• YTD: 1.74%
• 6M: 1.75%
• 1Y: 3.83%
• 3Y*: 4.59%
• 5Y*: 3.46%
• 10Y*: 2.21%

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

TROT vs. BIL - Yearly Performance Comparison

	2026 (YTD)
TROT Invesco MSCI Treasury Duration Rotation ETF	-0.34%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.22%

Correlation

The correlation between TROT and BIL is -0.16, 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 Feb 25, 2026	-0.16

Return for Risk

TROT vs. BIL — Risk / Return Rank

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

TROT

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

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.

TROT vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Treasury Duration Rotation ETF (TROT) 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.

	TROT	BIL	Difference
Sharpe ratio: Return per unit of total volatility	—	19.39	—
Sortino ratio: Return per unit of downside risk	—	172.17	—
Omega ratio: Gain probability vs. loss probability	—	86.91	—
Calmar ratio: Return relative to maximum drawdown	—	351.21	—
Martin ratio: Return relative to average drawdown	—	2,784.91	—

Drawdowns

TROT vs. BIL - Drawdown Comparison

The maximum TROT drawdown since its inception was -1.29%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for TROT and BIL.

Drawdown Indicators

	TROT	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-1.29%	-0.78%	-0.51%
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	—	-0.08%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.21%	—
Current Drawdown Current decline from peak	-0.62%	0.00%	-0.62%
Average Drawdown Average peak-to-trough decline	-0.71%	-0.26%	-0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	TROT	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.11%	0.20%	+1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.11%	0.26%	+1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.11%	0.26%	+1.85%

Dividends

TROT vs. BIL - Dividend Comparison

TROT's dividend yield for the trailing twelve months is around 1.16%, less than BIL's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	3.85%	4.13%	5.03%	4.92%	1.35%	0.00%	0.30%	2.05%	1.66%	0.68%	0.07%
TROT Invesco MSCI Treasury Duration Rotation ETF	1.16%	0.00%	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 TROT and BIL in my portfolio?

TROT and BIL have a correlation of -0.16, 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, TROT or BIL?

BIL has the higher dividend yield at 3.85%, compared with 1.16% for TROT.

What is the main difference between TROT and BIL?

TROT tracks MSCI Treasury Duration Rotation Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: Invesco and State Street.