XBI vs. BIL
XBI (SPDR S&P Biotech ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - XBI is a Health & Biotech Equities fund tracking the S&P Biotechnology Select Industry Index, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. Over the past 10 years, XBI returned 8.53%/yr vs 2.18%/yr for BIL. At a correlation of -0.04, they often move in opposite directions. XBI charges 0.35%/yr vs 0.14%/yr for BIL.
Performance
XBI vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, XBI achieves a 9.42% return, which is significantly higher than BIL's 1.49% return. Over the past 10 years, XBI has outperformed BIL with an annualized return of 8.53%, while BIL has yielded a comparatively lower 2.18% annualized return.
XBI
- 1D
- 2.77%
- 1M
- -0.28%
- YTD
- 9.42%
- 6M
- 8.61%
- 1Y
- 62.35%
- 3Y*
- 15.65%
- 5Y*
- 1.14%
- 10Y*
- 8.53%
BIL
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 1.49%
- 6M
- 1.76%
- 1Y
- 3.87%
- 3Y*
- 4.64%
- 5Y*
- 3.41%
- 10Y*
- 2.18%
XBI vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XBI SPDR S&P Biotech ETF | 9.42% | 35.89% | 1.01% | 7.60% | -25.87% | -20.45% | 48.33% | 32.56% | -15.28% | 43.77% |
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 XBI and BIL is -0.08, 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 | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since May 31, 2007 | -0.04 |
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Return for Risk
XBI vs. BIL — Risk / Return Rank
XBI
BIL
XBI vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Biotech ETF (XBI) 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.
| XBI | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.26 | ||
| Sortino ratioReturn per unit of downside risk | -170.84 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 87.91 | -86.51 |
| Calmar ratioReturn relative to maximum drawdown | 6.45 | 355.35 | -348.91 |
| Martin ratioReturn relative to average drawdown | 19.53 | 2,817.77 | -2,798.24 |
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
| XBI | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.45 | 19.71 | -17.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 13.15 | -13.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 8.51 | -8.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 2.78 | -2.41 |
Drawdowns
XBI vs. BIL - Drawdown Comparison
The maximum XBI drawdown since its inception was -63.89%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for XBI and BIL.
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Drawdown Indicators
| XBI | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.89% | -0.78% | -63.11% |
Max Drawdown (1Y)Largest decline over 1 year | -9.72% | -0.01% | -9.71% |
Max Drawdown (3Y)Largest decline over 3 years | -32.99% | -0.01% | -32.98% |
Max Drawdown (5Y)Largest decline over 5 years | -54.71% | -0.10% | -54.61% |
Max Drawdown (10Y)Largest decline over 10 years | -63.89% | -0.21% | -63.68% |
Current DrawdownCurrent decline from peak | -22.89% | 0.00% | -22.89% |
Average DrawdownAverage peak-to-trough decline | -20.93% | -0.26% | -20.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 0.00% | +3.20% |
Volatility
XBI vs. BIL - Volatility Comparison
SPDR S&P Biotech ETF (XBI) has a higher volatility of 9.69% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.06%. This indicates that XBI'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
| XBI | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.69% | 0.06% | +9.63% |
Volatility (6M)Calculated over the trailing 6-month period | 20.31% | 0.13% | +20.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.60% | 0.20% | +25.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.20% | 0.26% | +31.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.00% | 0.26% | +31.74% |
XBI vs. BIL - Expense Ratio Comparison
XBI has a 0.35% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
XBI vs. BIL - Dividend Comparison
XBI's dividend yield for the trailing twelve months is around 0.33%, less than BIL's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
XBI SPDR S&P Biotech ETF | 0.33% | 0.37% | 0.15% | 0.02% | 0.00% | 0.04% | 0.20% | 0.00% | 0.28% | 0.24% | 0.26% | 0.61% |
Frequently Asked Questions
XBI and BIL have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XBI has higher volatility (9.69%) compared to BIL (0.06%). In terms of maximum drawdown, XBI dropped -63.89% vs BIL's -0.78%.
On 10-year performance, XBI leads with 8.53% vs 2.18% for BIL. 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 10-year period, XBI has performed better with a 8.53% 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 0.35% for XBI.
BIL has the higher dividend yield at 3.86%, compared with 0.33% for XBI.
XBI is categorized as Health & Biotech Equities, while BIL is Government Bonds. XBI tracks S&P Biotechnology Select Industry Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. Their fees differ too: 0.35% for XBI and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.71 vs 2.45), 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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