UESD.L vs. BIL
UESD.L (iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - UESD.L is a Ultrashort Bond fund managed by iShares, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Over the past 5 years, UESD.L returned 3.56%/yr vs 4.52%/yr for BIL. At a correlation of -0.02, they often move in opposite directions. UESD.L charges 0.09%/yr vs 0.14%/yr for BIL.
Performance
UESD.L vs. BIL - Performance Comparison
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Different Trading Currencies
UESD.L is traded in GBP, while BIL is traded in USD. To make them comparable, the BIL values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, UESD.L achieves a 1.41% return, which is significantly lower than BIL's 1.86% return.
UESD.L
- 1D
- 0.04%
- 1M
- 0.43%
- YTD
- 1.41%
- 6M
- 1.91%
- 1Y
- 4.39%
- 3Y*
- 5.04%
- 5Y*
- 3.56%
- 10Y*
- —
BIL
- 1D
- 0.29%
- 1M
- 1.10%
- YTD
- 1.86%
- 6M
- 1.23%
- 1Y
- 4.60%
- 3Y*
- 2.05%
- 5Y*
- 4.52%
- 10Y*
- 2.98%
UESD.L vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UESD.L iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc | 1.41% | 5.04% | 5.40% | 4.47% | 1.55% | 0.19% | 1.09% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.86% | -3.27% | 7.03% | -0.30% | 13.46% | 0.85% | -15.26% |
Correlation
The correlation between UESD.L and BIL is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2020 | -0.02 |
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Return for Risk
UESD.L vs. BIL — Risk / Return Rank
UESD.L
BIL
UESD.L vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc (UESD.L) 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.
| UESD.L | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.32 | ||
| Sortino ratioReturn per unit of downside risk | +5.44 | ||
| Omega ratioGain probability vs. loss probability | 1.90 | 1.12 | +0.78 |
| Calmar ratioReturn relative to maximum drawdown | 16.99 | 0.89 | +16.10 |
| Martin ratioReturn relative to average drawdown | 73.38 | 2.42 | +70.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UESD.L | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.02 | 0.70 | +3.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 3.20 | 0.53 | +2.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.32 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.89 | 0.36 | +2.52 |
Drawdowns
UESD.L vs. BIL - Drawdown Comparison
The maximum UESD.L drawdown since its inception was -0.48%, smaller than the maximum BIL drawdown of -20.05%. Use the drawdown chart below to compare losses from any high point for UESD.L and BIL.
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Drawdown Indicators
| UESD.L | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.48% | -20.05% | +19.57% |
Max Drawdown (1Y)Largest decline over 1 year | -0.26% | -5.19% | +4.93% |
Max Drawdown (3Y)Largest decline over 3 years | -0.26% | -9.84% | +9.58% |
Max Drawdown (5Y)Largest decline over 5 years | -0.41% | -15.90% | +15.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.34% | — |
Current DrawdownCurrent decline from peak | -0.10% | -6.29% | +6.19% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -9.41% | +9.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 1.91% | -1.85% |
Volatility
UESD.L vs. BIL - Volatility Comparison
The current volatility for iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc (UESD.L) is 0.50%, while SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) has a volatility of 1.79%. This indicates that UESD.L experiences smaller price fluctuations and is considered to be less risky 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
| UESD.L | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 1.79% | -1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 0.87% | 5.00% | -4.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.09% | 6.61% | -5.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.11% | 8.56% | -7.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.06% | 9.49% | -8.43% |
UESD.L vs. BIL - Expense Ratio Comparison
UESD.L has a 0.09% expense ratio, which is lower than BIL's 0.14% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
UESD.L vs. BIL - Dividend Comparison
UESD.L's dividend yield for the trailing twelve months is around 5.64%, 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% |
UESD.L iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc | 5.64% | 4.63% | 5.37% | 4.49% | 1.21% | 0.24% | 0.47% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UESD.L and BIL have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UESD.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UESD.L is cheaper with a 0.09% expense ratio, compared with 0.14% for BIL.
UESD.L is categorized as Ultrashort Bond, while BIL is Government Bonds. They also come from different issuers: iShares and State Street. Their fees differ too: 0.09% for UESD.L and 0.14% for BIL.
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