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 -3.26%/yr vs 4.60%/yr for BIL. At a correlation of -0.04, they often move in opposite directions. 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 0.98% return, which is significantly lower than BIL's 1.67% return.
XTWY
- 1D
- 0.11%
- 1M
- 2.79%
- YTD
- 0.98%
- 6M
- 0.48%
- 1Y
- 3.85%
- 3Y*
- -3.26%
- 5Y*
- —
- 10Y*
- —
BIL
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.67%
- 6M
- 1.76%
- 1Y
- 3.84%
- 3Y*
- 4.60%
- 5Y*
- 3.45%
- 10Y*
- 2.20%
XTWY vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XTWY BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF | 0.98% | 2.52% | -10.25% | 2.73% | -7.81% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.67% | 4.15% | 5.19% | 4.94% | 0.97% |
Correlation
The correlation between XTWY and BIL is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
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 -0.20 (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 | -18.98 | ||
| Sortino ratioReturn per unit of downside risk | -172.09 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 87.16 | -86.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 352.24 | -351.84 |
| Martin ratioReturn relative to average drawdown | 0.94 | 2,793.11 | -2,792.17 |
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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 | -9.48% | -0.01% | -9.47% |
Max Drawdown (3Y)Largest decline over 3 years | -22.16% | -0.01% | -22.15% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.09% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.21% | — |
Current DrawdownCurrent decline from peak | -14.11% | 0.00% | -14.11% |
Average DrawdownAverage peak-to-trough decline | -12.25% | -0.26% | -11.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.09% | 0.00% | +4.09% |
Volatility
XTWY vs. BIL - Volatility Comparison
BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF (XTWY) has a higher volatility of 2.69% 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 | 2.69% | 0.07% | +2.62% |
Volatility (6M)Calculated over the trailing 6-month period | 7.87% | 0.14% | +7.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.38% | 0.20% | +11.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.54% | 0.26% | +17.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.54% | 0.26% | +17.28% |
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 4.63%, more than BIL's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 3.85% | 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 | 4.63% | 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 -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XTWY has higher volatility (2.69%) 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 4.60% vs -3.26% 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 4.60% return vs -3.26%. 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 4.63%, compared with 3.85% 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 (19.32 vs 0.34), 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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