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 -1.00%/yr vs 4.54%/yr for BIL. Their 0.03 correlation means their historical movements had little consistent relationship. TYA charges 0.15%/yr vs 0.14%/yr for BIL.
Performance
TYA vs. BIL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TYA achieves a -7.44% return, which is significantly lower than BIL's 2.10% return.
TYA
- 1D
- 0.46%
- 1M
- -3.02%
- 6M
- -6.00%
- YTD
- -7.44%
- 1Y
- -6.08%
- 3Y*
- -1.00%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -10.67%
BIL
- 1D
- 0.01%
- 1M
- 0.28%
- 6M
- 1.78%
- YTD
- 2.10%
- 1Y
- 3.78%
- 3Y*
- 4.54%
- 5Y*
- 3.54%
- 10Y*
- 2.24%
- ALL TIME*
- 1.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $915.12M | $889.94M | $918.56M | |
| $293.95K | $302.74K | $683.37K |
TYA vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TYA Simplify Intermediate Term Treasury Futures Strategy ETF | -7.44% | 14.38% | -9.63% | -2.23% | -37.62% | -0.80% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 2.10% | 4.15% | 5.19% | 4.94% | 1.40% | -0.02% |
Correlation
The correlation between TYA and BIL is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.13 |
Correlation (3Y) Balances recent behavior with more history. | -0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021 | 0.03 |
The correlation between TYA and BIL shifts across timeframes, from -0.13 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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 | -19.68 | ||
| Sortino ratioReturn per unit of downside risk | -152.60 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 68.82 | -67.90 |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | 346.53 | -347.03 |
| Martin ratioReturn relative to average drawdown | -1.07 | 2,457.45 | -2,458.52 |
Loading charts...
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.
Loading charts...
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 | -12.24% | -0.01% | -12.23% |
Max Drawdown (3Y)Largest decline over 3 years | -19.13% | -0.01% | -19.12% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.08% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.21% | — |
Current DrawdownCurrent decline from peak | -42.95% | 0.00% | -42.95% |
Average DrawdownAverage peak-to-trough decline | -36.02% | -0.26% | -35.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.68% | 0.00% | +5.68% |
Volatility
TYA vs. BIL - Volatility Comparison
Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) has a higher volatility of 3.30% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.06%. 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.
Loading charts...
Volatility by Period
| TYA | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.30% | 0.06% | +3.24% |
Volatility (6M)Calculated over the trailing 6-month period | 9.64% | 0.14% | +9.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.99% | 0.20% | +11.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.35% | 0.26% | +20.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.35% | 0.26% | +20.09% |
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 3.74%, which matches BIL's 3.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 3.77% | 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 | 3.74% | 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 -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TYA has higher volatility (3.30%) compared to BIL (0.06%). In terms of maximum drawdown, TYA dropped -51.15% vs BIL's -0.78%.
On 3-year performance, BIL leads with 4.54% vs -1.00% for TYA. On fees, BIL is cheaper at 0.14% per year. On volatility, BIL has been the lower-risk option at 0.06%. 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 4.54% return vs -1.00%. 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.
BIL has the higher dividend yield at 3.77%, compared with 3.74% for TYA.
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 (19.17 vs -0.51), 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.
Find the right allocation for TYA and BIL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer