XSMO vs. BIL
XSMO (Invesco S&P SmallCap Momentum ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - XSMO is a Momentum fund tracking the S&P SmallCap 600 Momentum 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, XSMO returned 14.34%/yr vs 2.19%/yr for BIL. At a correlation of -0.03, they often move in opposite directions. XSMO charges 0.36%/yr vs 0.14%/yr for BIL.
Performance
XSMO vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, XSMO achieves a 20.54% return, which is significantly higher than BIL's 1.54% return. Over the past 10 years, XSMO has outperformed BIL with an annualized return of 14.34%, while BIL has yielded a comparatively lower 2.19% annualized return.
XSMO
- 1D
- 0.66%
- 1M
- -0.62%
- YTD
- 20.54%
- 6M
- 18.72%
- 1Y
- 30.63%
- 3Y*
- 23.23%
- 5Y*
- 10.21%
- 10Y*
- 14.34%
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%
XSMO vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSMO Invesco S&P SmallCap Momentum ETF | 20.54% | 9.80% | 17.45% | 21.55% | -15.44% | 19.24% | 21.96% | 28.65% | -3.44% | 23.95% |
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% |
Correlation
The correlation between XSMO 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 | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since May 31, 2007 | -0.03 |
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Return for Risk
XSMO vs. BIL — Risk / Return Rank
XSMO
BIL
XSMO vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Momentum ETF (XSMO) 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.
| XSMO | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.02 | ||
| Sortino ratioReturn per unit of downside risk | -172.32 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 88.16 | -86.88 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 356.40 | -352.94 |
| Martin ratioReturn relative to average drawdown | 11.75 | 2,826.06 | -2,814.31 |
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
| XSMO | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 19.64 | -18.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 13.23 | -12.78 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 8.57 | -7.97 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 2.78 | -2.39 |
Drawdowns
XSMO vs. BIL - Drawdown Comparison
The maximum XSMO drawdown since its inception was -58.06%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for XSMO and BIL.
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Drawdown Indicators
| XSMO | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.06% | -0.78% | -57.28% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -0.01% | -8.88% |
Max Drawdown (3Y)Largest decline over 3 years | -24.76% | -0.01% | -24.75% |
Max Drawdown (5Y)Largest decline over 5 years | -29.62% | -0.09% | -29.53% |
Max Drawdown (10Y)Largest decline over 10 years | -39.39% | -0.21% | -39.18% |
Current DrawdownCurrent decline from peak | -2.86% | 0.00% | -2.86% |
Average DrawdownAverage peak-to-trough decline | -11.13% | -0.26% | -10.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 0.00% | +2.61% |
Volatility
XSMO vs. BIL - Volatility Comparison
Invesco S&P SmallCap Momentum ETF (XSMO) has a higher volatility of 6.73% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.06%. This indicates that XSMO'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
| XSMO | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.73% | 0.06% | +6.67% |
Volatility (6M)Calculated over the trailing 6-month period | 14.49% | 0.14% | +14.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.01% | 0.20% | +18.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.68% | 0.26% | +22.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.14% | 0.26% | +23.88% |
XSMO vs. BIL - Expense Ratio Comparison
XSMO has a 0.36% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
XSMO vs. BIL - Dividend Comparison
XSMO's dividend yield for the trailing twelve months is around 0.54%, 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% |
XSMO Invesco S&P SmallCap Momentum ETF | 0.54% | 0.75% | 0.63% | 0.96% | 1.19% | 0.30% | 0.82% | 0.69% | 0.66% | 0.27% | 0.30% | 0.35% |
Frequently Asked Questions
XSMO 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.
XSMO has higher volatility (6.73%) compared to BIL (0.06%). In terms of maximum drawdown, XSMO dropped -58.06% vs BIL's -0.78%.
On 10-year performance, XSMO leads with 14.34% vs 2.19% 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, XSMO has performed better with a 14.34% return vs 2.19%. 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 0.36% for XSMO.
BIL has the higher dividend yield at 3.86%, compared with 0.54% for XSMO.
XSMO is categorized as Momentum, while BIL is Government Bonds. XSMO tracks S&P SmallCap 600 Momentum Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.36% for XSMO and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.64 vs 1.62), 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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