TYA vs. BIL
TYA (Simplify Intermediate Term Treasury Futures Strategy ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both Government Bonds funds. TYA is actively managed, while BIL is passively managed. Over the past 3 years, TYA returned -1.87%/yr vs 4.60%/yr for BIL. At a 0.02 correlation, their price movements are largely independent. TYA charges 0.15%/yr vs 0.14%/yr for BIL.
Performance
TYA vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, TYA achieves a -5.34% return, which is significantly lower than BIL's 1.67% return.
TYA
- 1D
- 0.27%
- 1M
- 0.70%
- YTD
- -5.34%
- 6M
- -5.34%
- 1Y
- -0.95%
- 3Y*
- -1.87%
- 5Y*
- —
- 10Y*
- —
BIL
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.67%
- 6M
- 1.76%
- 1Y
- 3.84%
- 3Y*
- 4.60%
- 5Y*
- 3.45%
- 10Y*
- 2.20%
TYA vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TYA Simplify Intermediate Term Treasury Futures Strategy ETF | -5.34% | 14.38% | -9.63% | -2.23% | -37.62% | -0.80% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.67% | 4.15% | 5.19% | 4.94% | 1.40% | -0.02% |
Correlation
The correlation between TYA and BIL is -0.15, 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 (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021 | 0.02 |
The correlation between TYA and BIL shifts across timeframes, from -0.15 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TYA vs. BIL — Risk / Return Rank
TYA
BIL
TYA vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) 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.
| TYA | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -19.40 | ||
| Sortino ratioReturn per unit of downside risk | -172.68 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 87.16 | -86.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.08 | 352.24 | -352.32 |
| Martin ratioReturn relative to average drawdown | -0.20 | 2,793.11 | -2,793.31 |
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Drawdowns
TYA vs. BIL - Drawdown Comparison
The maximum TYA drawdown since its inception was -51.15%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for TYA and BIL.
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Drawdown Indicators
| TYA | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.15% | -0.78% | -50.37% |
Max Drawdown (1Y)Largest decline over 1 year | -11.80% | -0.01% | -11.79% |
Max Drawdown (3Y)Largest decline over 3 years | -21.36% | -0.01% | -21.35% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.09% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.21% | — |
Current DrawdownCurrent decline from peak | -41.65% | 0.00% | -41.65% |
Average DrawdownAverage peak-to-trough decline | -35.88% | -0.26% | -35.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.67% | 0.00% | +4.67% |
Volatility
TYA vs. BIL - Volatility Comparison
Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) has a higher volatility of 3.58% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.07%. This indicates that TYA'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.
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Volatility by Period
| TYA | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.58% | 0.07% | +3.51% |
Volatility (6M)Calculated over the trailing 6-month period | 9.14% | 0.14% | +9.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.62% | 0.20% | +12.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.50% | 0.26% | +20.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.50% | 0.26% | +20.24% |
TYA vs. BIL - Expense Ratio Comparison
TYA has a 0.15% expense ratio, which is higher than BIL's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TYA vs. BIL - Dividend Comparison
TYA's dividend yield for the trailing twelve months is around 3.88%, which matches 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% |
TYA Simplify Intermediate Term Treasury Futures Strategy ETF | 3.88% | 3.85% | 4.84% | 4.28% | 2.23% | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TYA and BIL have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TYA has higher volatility (3.58%) compared to BIL (0.07%). In terms of maximum drawdown, TYA dropped -51.15% vs BIL's -0.78%.
On 3-year performance, BIL leads with 4.60% vs -1.87% for TYA. On fees, BIL is cheaper at 0.14% per year. On volatility, BIL has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BIL has performed better with a 4.60% return vs -1.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BIL is cheaper with a 0.14% expense ratio, compared with 0.15% for TYA.
TYA has the higher dividend yield at 3.88%, compared with 3.85% for BIL.
They also come from different issuers: Simplify and State Street. Their fees differ too: 0.15% for TYA and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.32 vs -0.08), 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.
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