XLSR vs. BIL
XLSR (SPDR SSGA US Sector Rotation ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - XLSR is a Large Cap Growth Equities fund actively managed by State Street, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. XLSR is actively managed, while BIL is passively managed. Over the past 5 years, XLSR returned 10.06%/yr vs 3.41%/yr for BIL. At a correlation of -0.01, they often move in opposite directions. XLSR charges 0.70%/yr vs 0.14%/yr for BIL.
Performance
XLSR vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, XLSR achieves a 6.52% return, which is significantly higher than BIL's 1.49% return.
XLSR
- 1D
- -0.45%
- 1M
- 5.12%
- YTD
- 6.52%
- 6M
- 6.27%
- 1Y
- 25.83%
- 3Y*
- 17.65%
- 5Y*
- 10.06%
- 10Y*
- —
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%
XLSR vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XLSR SPDR SSGA US Sector Rotation ETF | 6.52% | 17.34% | 17.60% | 18.95% | -15.70% | 20.47% | 20.23% | 14.13% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.49% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 1.47% |
Correlation
The correlation between XLSR and BIL is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2019 | -0.01 |
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Return for Risk
XLSR vs. BIL — Risk / Return Rank
XLSR
BIL
XLSR vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA US Sector Rotation ETF (XLSR) 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.
| XLSR | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.59 | ||
| Sortino ratioReturn per unit of downside risk | -171.18 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 87.91 | -86.52 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 355.35 | -353.01 |
| Martin ratioReturn relative to average drawdown | 10.44 | 2,817.77 | -2,807.34 |
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
| XLSR | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 19.71 | -17.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 13.16 | -12.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 8.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 2.78 | -2.11 |
Drawdowns
XLSR vs. BIL - Drawdown Comparison
The maximum XLSR drawdown since its inception was -32.94%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for XLSR and BIL.
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Drawdown Indicators
| XLSR | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.94% | -0.78% | -32.16% |
Max Drawdown (1Y)Largest decline over 1 year | -11.06% | -0.01% | -11.05% |
Max Drawdown (3Y)Largest decline over 3 years | -20.57% | -0.01% | -20.56% |
Max Drawdown (5Y)Largest decline over 5 years | -23.32% | -0.10% | -23.22% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.21% | — |
Current DrawdownCurrent decline from peak | -0.45% | 0.00% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -5.33% | -0.26% | -5.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.48% | 0.00% | +2.48% |
Volatility
XLSR vs. BIL - Volatility Comparison
SPDR SSGA US Sector Rotation ETF (XLSR) has a higher volatility of 2.97% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that XLSR'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
| XLSR | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.97% | 0.05% | +2.92% |
Volatility (6M)Calculated over the trailing 6-month period | 9.23% | 0.13% | +9.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.26% | 0.20% | +12.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.08% | 0.26% | +16.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.04% | 0.26% | +19.78% |
XLSR vs. BIL - Expense Ratio Comparison
XLSR has a 0.70% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
XLSR vs. BIL - Dividend Comparison
XLSR's dividend yield for the trailing twelve months is around 0.52%, less 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% |
XLSR SPDR SSGA US Sector Rotation ETF | 0.52% | 0.58% | 0.66% | 1.04% | 1.80% | 3.44% | 1.25% | 0.94% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XLSR and BIL have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLSR has higher volatility (2.97%) compared to BIL (0.05%). In terms of maximum drawdown, XLSR dropped -32.94% vs BIL's -0.78%.
On 5-year performance, XLSR leads with 10.06% vs 3.41% for BIL. On fees, BIL is cheaper at 0.14% per year. On volatility, BIL has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XLSR has performed better with a 10.06% return vs 3.41%. 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 0.70% for XLSR.
BIL has the higher dividend yield at 3.86%, compared with 0.52% for XLSR.
XLSR is categorized as Large Cap Growth Equities, while BIL is Government Bonds. Their fees differ too: 0.70% for XLSR and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.71 vs 2.12), 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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