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USD=X vs. BIL
Performance
Return for Risk
Drawdowns
Volatility

USD=X vs. BIL

Last updated Jun 9, 2026

USD=X (USD Cash) is a currency, while BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) is Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Over the past 10 years, USD=X returned 0.00%/yr vs 2.19%/yr for BIL.

Performance

USD=X vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USD Cash (USD=X) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

USD=X

1D
0.00%
1M
0.00%
YTD
0.00%
6M
0.00%
1Y
0.00%
3Y*
0.00%
5Y*
0.00%
10Y*
0.00%

BIL

1D
0.01%
1M
0.29%
YTD
1.54%
6M
1.78%
1Y
3.88%
3Y*
4.62%
5Y*
3.42%
10Y*
2.19%
*Multi-year figures are annualized to reflect compound growth (CAGR)

USD=X vs. BIL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USD=X
USD Cash		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
BIL
SPDR Bloomberg 1-3 Month T-Bill ETF		1.54%4.15%5.19%4.94%1.40%-0.10%0.40%2.03%1.74%0.69%

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USD Cash

SPDR Bloomberg 1-3 Month T-Bill ETF

Often compared with USD=X:
USD=X vs. UUPUSD=X vs. EUR=XUSD=X vs. XRP-USDUSD=X vs. BTC-USDUSD=X vs. QQQUSD=X vs. TSLAUSD=X vs. USDX
Often compared with BIL:
BIL vs. SGOVBIL vs. SHVBIL vs. SPAXXBIL vs. VBILBIL vs. TFLOBIL vs. TBILBIL vs. SHY

Return for Risk

USD=X vs. BIL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USD=X
BIL
BIL Risk / Return Rank: 100100
Overall Rank
BIL Sharpe Ratio Rank: 100100
Sharpe Ratio Rank
BIL Sortino Ratio Rank: 100100
Sortino Ratio Rank
BIL Omega Ratio Rank: 100100
Omega Ratio Rank
BIL Calmar Ratio Rank: 100100
Calmar Ratio Rank
BIL Martin Ratio Rank: 100100
Martin Ratio Rank
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.

USD=X vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD Cash (USD=X) 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.

USD=X vs. BIL - Sharpe Ratio Comparison

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Sharpe Ratios by Period

USD=XBILDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

19.64

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

13.23

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

8.57

—

Sharpe Ratio (All Time)

Calculated using the full available price history

—

2.78

—

Drawdowns

USD=X vs. BIL - Drawdown Comparison

The maximum USD=X drawdown since its inception was 0.00%, smaller than the maximum BIL drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for USD=X and BIL.

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Drawdown Indicators

USD=XBILDifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-0.78%

+0.78%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-0.01%

+0.01%

Max Drawdown (3Y)

Largest decline over 3 years

0.00%

-0.01%

+0.01%

Max Drawdown (5Y)

Largest decline over 5 years

0.00%

-0.09%

+0.09%

Max Drawdown (10Y)

Largest decline over 10 years

0.00%

-0.21%

+0.21%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

0.00%

-0.26%

+0.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

0.00%

0.00%

Volatility

USD=X vs. BIL - Volatility Comparison

The current volatility for USD Cash (USD=X) is 0.00%, while SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) has a volatility of 0.06%. This indicates that USD=X 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

USD=XBILDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.00%

0.06%

-0.06%

Volatility (6M)

Calculated over the trailing 6-month period

0.00%

0.14%

-0.14%

Volatility (1Y)

Calculated over the trailing 1-year period

0.00%

0.20%

-0.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.00%

0.26%

-0.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.00%

0.26%

-0.26%

Frequently Asked Questions

BIL has higher volatility (0.06%) compared to USD=X (0.00%). In terms of maximum drawdown, USD=X dropped 0.00% vs BIL's -0.78%.

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