USFR vs. BIL
USFR (WisdomTree Floating Rate Treasury Fund) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both Government Bonds funds - USFR tracks the Bloomberg U.S. Treasury Floating Rate Bond Index while BIL tracks the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. Over the past 10 years, USFR returned 2.47%/yr vs 2.18%/yr for BIL. At a 0.20 correlation, their price movements are largely independent. USFR charges 0.15%/yr vs 0.14%/yr for BIL.
Performance
USFR vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, USFR achieves a 1.60% return, which is significantly higher than BIL's 1.49% return. Over the past 10 years, USFR has outperformed BIL with an annualized return of 2.47%, while BIL has yielded a comparatively lower 2.18% annualized return.
USFR
- 1D
- 0.02%
- 1M
- 0.29%
- YTD
- 1.60%
- 6M
- 1.98%
- 1Y
- 4.03%
- 3Y*
- 4.76%
- 5Y*
- 3.66%
- 10Y*
- 2.47%
BIL
- 1D
- 0.02%
- 1M
- 0.28%
- YTD
- 1.49%
- 6M
- 1.77%
- 1Y
- 3.87%
- 3Y*
- 4.64%
- 5Y*
- 3.41%
- 10Y*
- 2.18%
USFR vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USFR WisdomTree Floating Rate Treasury Fund | 1.60% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 1.03% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.49% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Correlation
The correlation between USFR and BIL is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2014 | 0.20 |
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Return for Risk
USFR vs. BIL — Risk / Return Rank
USFR
BIL
USFR vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Floating Rate Treasury Fund (USFR) 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.
| USFR | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.60 | ||
| Sortino ratioReturn per unit of downside risk | -123.52 | ||
| Omega ratioGain probability vs. loss probability | 13.43 | 87.91 | -74.48 |
| Calmar ratioReturn relative to maximum drawdown | 203.42 | 355.35 | -151.93 |
| Martin ratioReturn relative to average drawdown | 787.84 | 2,817.77 | -2,029.94 |
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
| USFR | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 15.11 | 19.71 | -4.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 9.26 | 13.16 | -3.90 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 3.07 | 8.52 | -5.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.60 | 2.78 | -1.17 |
Drawdowns
USFR vs. BIL - Drawdown Comparison
The maximum USFR drawdown since its inception was -1.36%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for USFR and BIL.
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Drawdown Indicators
| USFR | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.36% | -0.78% | -0.58% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -0.01% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -0.06% | -0.01% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -0.18% | -0.10% | -0.08% |
Max Drawdown (10Y)Largest decline over 10 years | -0.80% | -0.21% | -0.59% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -0.26% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.00% | +0.01% |
Volatility
USFR vs. BIL - Volatility Comparison
WisdomTree Floating Rate Treasury Fund (USFR) has a higher volatility of 0.06% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that USFR'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
| USFR | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 0.05% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.18% | 0.13% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.27% | 0.20% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.40% | 0.26% | +0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.81% | 0.26% | +0.55% |
USFR vs. BIL - Expense Ratio Comparison
USFR 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
USFR vs. BIL - Dividend Comparison
USFR's dividend yield for the trailing twelve months is around 3.91%, 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% |
USFR WisdomTree Floating Rate Treasury Fund | 3.91% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
Frequently Asked Questions
USFR and BIL have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USFR has higher volatility (0.06%) compared to BIL (0.05%). In terms of maximum drawdown, USFR dropped -1.36% vs BIL's -0.78%.
On 10-year performance, USFR leads with 2.47% vs 2.18% for BIL. On fees, BIL is cheaper at 0.14% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USFR has performed better with a 2.47% return vs 2.18%. 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 USFR.
USFR has the higher dividend yield at 3.91%, compared with 3.86% for BIL.
USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.15% for USFR and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.71 vs 15.11), 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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