WAGN vs. BIL

Last updated Jul 2, 2026

WAGN (Pabrai Wagons ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - WAGN is a Global Equities fund actively managed by Pabrai, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. WAGN is actively managed, while BIL is passively managed. With a 1.00 correlation, they move nearly in lockstep. WAGN charges 0.90%/yr vs 0.14%/yr for BIL.

Performance

WAGN vs. BIL - Performance Comparison

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

Returns By Period

WAGN

• 1D: -0.29%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BIL

• 1D: 0.03%
• 1M: 0.29%
• YTD: 1.77%
• 6M: 1.77%
• 1Y: 3.84%
• 3Y*: 4.60%
• 5Y*: 3.47%
• 10Y*: 2.21%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WAGN vs. BIL - Yearly Performance Comparison

	2026 (YTD)
WAGN Pabrai Wagons ETF	-1.29%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	0.03%

Correlation

The correlation between WAGN and BIL is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 30, 2026	1.00

Return for Risk

WAGN vs. BIL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WAGN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BIL

BIL Risk / Return Rank: 100
BIL Sharpe Ratio Rank: 100
BIL Sortino Ratio Rank: 100
BIL Omega Ratio Rank: 100
BIL Calmar Ratio Rank: 100
BIL Martin Ratio Rank: 100

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.

WAGN vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pabrai Wagons ETF (WAGN) 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.

	WAGN	BIL	Difference
Sharpe ratio: Return per unit of total volatility	—	19.40	—
Sortino ratio: Return per unit of downside risk	—	172.73	—
Omega ratio: Gain probability vs. loss probability	—	87.19	—
Calmar ratio: Return relative to maximum drawdown	—	352.38	—
Martin ratio: Return relative to average drawdown	—	2,794.19	—

Drawdowns

WAGN vs. BIL - Drawdown Comparison

The maximum WAGN drawdown since its inception was -1.29%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for WAGN and BIL.

Drawdown Indicators

	WAGN	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-1.29%	-0.78%	-0.51%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.01%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.08%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.21%	—
Current Drawdown Current decline from peak	-1.29%	0.00%	-1.29%
Average Drawdown Average peak-to-trough decline	-1.15%	-0.26%	-0.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	WAGN	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	8.04%	0.20%	+7.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.04%	0.26%	+7.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.04%	0.26%	+7.78%

WAGN vs. BIL - Expense Ratio Comparison

WAGN has a 0.90% expense ratio, which is higher than BIL's 0.14% expense ratio.

Dividends

WAGN vs. BIL - Dividend Comparison

WAGN has not paid dividends to shareholders, while BIL's dividend yield for the trailing twelve months is around 3.82%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	3.82%	4.13%	5.03%	4.92%	1.35%	0.00%	0.30%	2.05%	1.66%	0.68%	0.07%
WAGN Pabrai Wagons ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WAGN and BIL in my portfolio?

With a correlation of 1.00, WAGN and BIL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, WAGN or BIL?

On fees, BIL is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WAGN or BIL?

BIL is cheaper with a 0.14% expense ratio, compared with 0.90% for WAGN.

Which ETF pays a higher dividend yield, WAGN or BIL?

BIL has the higher dividend yield at 3.82%, compared with 0.00% for WAGN.

What is the main difference between WAGN and BIL?

WAGN is categorized as Global Equities, while BIL is Government Bonds. They also come from different issuers: Pabrai and State Street. Their fees differ too: 0.90% for WAGN and 0.14% for BIL.