BIL (SPDR 1-3 Month T-Bill ETF) — over the past 10 years it returned about 2.0% annualized on a total-return basis, yields roughly 3.81%, and had a worst drawdown near -0.2%. Here is the full picture — and you can backtest it yourself for free.
$10,000, 10 years on
A $10,000 investment 10 years ago, dividends reinvested, would be worth about $12,476 today.
Sortino
16.39
Volatility
0.3%
$10k → today
$12,476
Dividend history
| Year | Dividend / share | YoY growth |
|---|---|---|
| 2020 | $0.27 | — |
| 2021 | $0.00 | -100.0% |
| 2022 | $1.24 | — |
| 2023 | $4.50 | 264.2% |
| 2024 | $4.60 | 2.1% |
| 2025 | $3.77 | -18.0% |
Risk & return vs the S&P 500
| Metric | BIL | SPY |
|---|---|---|
| CAGR | 2.0% | 14.2% |
| Volatility | 0.3% | 17.9% |
| Sharpe | 7.74 | 0.83 |
| Sortino | 16.39 | 1.01 |
| Max drawdown | -0.2% | -33.7% |
| Dividend yield | 3.81% | 1.02% |