XTWY vs. BIL
XTWY (BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both Government Bonds funds - XTWY tracks the Bloomberg US Treasury 20 Year Target Duration Index while BIL tracks the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. Over the past 3 years, XTWY returned -3.43%/yr vs 4.56%/yr for BIL. Their -0.04 correlation means they have often moved in opposite directions in the past. XTWY charges 0.12%/yr vs 0.14%/yr for BIL.
Performance
XTWY vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, XTWY achieves a -4.63% return, which is significantly lower than BIL's 2.08% return.
XTWY
- 1D
- -0.90%
- 1M
- -5.01%
- 6M
- -4.62%
- YTD
- -4.63%
- 1Y
- -4.02%
- 3Y*
- -3.43%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -4.67%
BIL
- 1D
- 0.03%
- 1M
- 0.26%
- 6M
- 1.78%
- YTD
- 2.08%
- 1Y
- 3.76%
- 3Y*
- 4.56%
- 5Y*
- 3.54%
- 10Y*
- 2.24%
- ALL TIME*
- 1.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $778.54M | $838.53M | $900.58M | |
| $1.02M | $1.21M | $1.83M |
XTWY vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XTWY BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF | -4.63% | 2.52% | -10.25% | 2.73% | -7.81% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 2.08% | 4.15% | 5.19% | 4.94% | 0.97% |
Correlation
The correlation between XTWY and BIL is -0.18, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.18 |
Correlation (3Y) Balances recent behavior with more history. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022 | -0.04 |
The correlation between XTWY and BIL shifts across timeframes, from -0.18 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XTWY vs. BIL — Risk / Return Rank
XTWY
BIL
XTWY vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF (XTWY) 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.
| XTWY | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -19.36 | ||
| Sortino ratioReturn per unit of downside risk | -153.39 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 69.35 | -68.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 349.28 | -349.54 |
| Martin ratioReturn relative to average drawdown | -0.57 | 2,476.90 | -2,477.47 |
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Drawdowns
XTWY vs. BIL - Drawdown Comparison
The maximum XTWY drawdown since its inception was -25.92%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for XTWY and BIL.
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Drawdown Indicators
| XTWY | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.92% | -0.78% | -25.14% |
Max Drawdown (1Y)Largest decline over 1 year | -9.89% | -0.01% | -9.88% |
Max Drawdown (3Y)Largest decline over 3 years | -18.22% | -0.01% | -18.21% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.08% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.21% | — |
Current DrawdownCurrent decline from peak | -18.88% | 0.00% | -18.88% |
Average DrawdownAverage peak-to-trough decline | -12.35% | -0.26% | -12.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.59% | 0.00% | +4.59% |
Volatility
XTWY vs. BIL - Volatility Comparison
BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF (XTWY) has a higher volatility of 3.06% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.07%. This indicates that XTWY'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
| XTWY | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.06% | 0.07% | +2.99% |
Volatility (6M)Calculated over the trailing 6-month period | 8.15% | 0.14% | +8.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.19% | 0.20% | +10.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.41% | 0.26% | +17.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.41% | 0.26% | +17.15% |
XTWY vs. BIL - Expense Ratio Comparison
XTWY has a 0.13% expense ratio, which is lower than BIL's 0.14% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XTWY vs. BIL - Dividend Comparison
XTWY's dividend yield for the trailing twelve months is around 4.93%, more than BIL's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 3.46% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% |
XTWY BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF | 4.49% | 4.56% | 4.65% | 3.86% | 1.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XTWY and BIL have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XTWY has higher volatility (3.06%) compared to BIL (0.07%). In terms of maximum drawdown, XTWY dropped -25.92% vs BIL's -0.78%.
On 3-year performance, BIL leads with 4.56% vs -3.43% for XTWY. On fees, XTWY is cheaper at 0.12% per year. On volatility, BIL has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BIL has performed better with a 4.56% return vs -3.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XTWY is cheaper with a 0.12% expense ratio, compared with 0.14% for BIL.
XTWY has the higher dividend yield at 4.49%, compared with 3.46% for BIL.
XTWY tracks Bloomberg US Treasury 20 Year Target Duration Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: BondBloxx and State Street. Their fees differ too: 0.12% for XTWY and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.13 vs -0.23), 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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