BILS vs CMF

Comparison between SPDR BLOOMBERG 3-12 MONTH T-BILL ETF (BILS, ETF) and ISHARES CALIFORNIA MUNI BOND ETF (CMF, ETF).

5-Year PerformanceBILS has outperformed CMF, delivering a return of +3.2% compared to +0.6%

BILS vs CMF - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	BILS(ETF)	CMF(ETF)
Net Assets	$4.10B	$4.10B
Expense Ratio	0.14%	0.08%
Max Drawdown	1.20%	22.81%
Sharpe Ratio	1.17	0.72
5Y Beta	-0.00	0.03
5Y Dividends CAGR	N/A	11.08%

Net Assets

BILS

$4.10B

CMF

$4.10B

Expense Ratio

BILS

0.14%

Winner

CMF

0.08%

Max Drawdown

Winner

BILS

1.20%

CMF

22.81%

Sharpe Ratio

Winner

BILS

1.17

CMF

0.72

5Y Beta

Winner

BILS

-0.00

CMF

0.03

5Y Dividends CAGR

BILS

N/A

CMF

11.08%

BILS vs CMF - Historical Returns

Returns include dividend reinvestment.

Period	BILS	CMF
1 month	+0.30%	+0.35%
3 months	+0.84%	-0.46%
6 months	+1.79%	+1.19%
1 year	+3.98%	+6.02%
5 years(CAGR)	+3.25%	+0.64%
10 years(CAGR)	N/A	+1.73%
Max(CAGR)	+2.89%	+3.29%

BILS

+0.30%

Winner

CMF

+0.35%

Winner

BILS

+0.84%

CMF

-0.46%

Winner

BILS

+1.79%

CMF

+1.19%

BILS

+3.98%

Winner

CMF

+6.02%

5Y(CAGR)

Winner

BILS

+3.25%

CMF

+0.64%

10Y(CAGR)

BILS

N/A

CMF

+1.73%

Max(CAGR)

BILS

+2.89%

Winner

CMF

+3.29%

BILS vs CMF - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	BILS	CMF
2026	+1.16%	+0.58%
2025	+4.19%	+3.22%
2024	+5.15%	+1.78%
2023	+4.92%	+5.24%
2022	+0.91%	-8.18%
2021	-0.08%	+0.77%
2020	+0.00%	+4.50%
2019	N/A	+7.01%
2018	N/A	+0.92%
2017	N/A	+4.69%
2016	N/A	-0.37%
2015	N/A	+3.00%
2014	N/A	+10.66%
2013	N/A	-3.23%
2012	N/A	+7.34%
2011	N/A	+15.75%
2010	N/A	-2.55%
2009	N/A	+8.14%
2008	N/A	+0.64%
2007	N/A	+1.37%

BILS vs CMF Drawdown Comparison

The maximum drawdown for BILS was -0.41%, occurring on Jun 14, 2022. Recovery took 415 trading sessions.

The maximum drawdown for CMF was -16.45%, occurring on Jun 10, 2015. Recovery took 1295 trading sessions.

The current CMF drawdown is -1.23%.

Rank	BILS	CMF
#1	-0.41% Feb 5, 2021 - Sep 29, 2022	-16.45% Dec 26, 2014 - Feb 20, 2020
#2	-0.08% Oct 6, 2022 - Oct 27, 2022	-14.57% Mar 9, 2020 - Jul 16, 2020
#3	-0.07% Mar 17, 2023 - Mar 23, 2023	-13.25% May 21, 2008 - Jan 7, 2009
#4	-0.04% Feb 1, 2024 - Feb 7, 2024	-12.46% Aug 3, 2021 - Sep 18, 2025
#5	-0.04% Apr 5, 2023 - Apr 13, 2023	-11.65% Sep 1, 2010 - Aug 2, 2011
#6	-0.04% Mar 13, 2023 - Mar 15, 2023	-10.57% Nov 30, 2012 - Apr 10, 2014
#7	-0.03% Mar 2, 2023 - Mar 9, 2023	-5.15% Jan 22, 2008 - May 21, 2008
#8	-0.03% Apr 8, 2025 - Apr 11, 2025	-4.75% Apr 27, 2009 - Aug 17, 2009
#9	-0.03% Apr 13, 2023 - Apr 19, 2023	-4.19% Sep 24, 2009 - Apr 27, 2010
#10	-0.03% Nov 10, 2022 - Nov 17, 2022	-3.80% Apr 18, 2012 - Sep 28, 2012
#11	-0.03% Oct 28, 2025 - Oct 31, 2025	-3.05% Jan 14, 2009 - Feb 9, 2009
#12	-0.03% Mar 24, 2023 - Mar 30, 2023	-2.91% Feb 27, 2026 - Mar 24, 2026
#13	-0.02% Oct 9, 2020 - Feb 5, 2021	-2.89% Sep 22, 2011 - Dec 8, 2011
#14	-0.02% Dec 17, 2024 - Dec 19, 2024	-2.72% Feb 11, 2009 - Mar 24, 2009
#15	-0.02% Mar 15, 2023 - Mar 17, 2023	-2.18% Feb 12, 2021 - Jun 11, 2021

Correlation

Correlation between BILS and CMF is 0.51 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.51

-101

Dividend Comparison (2007 - 2026)

BILS vs CMF dividend yield comparison.

Year	BILS	CMF
2026	1.16%	0.98%
2025	4.08%	2.94%
2024	5.01%	2.78%
2023	4.98%	2.29%
2022	1.61%	1.91%
2021	0.00%	1.58%
2020	0.00%	1.80%
2019	0.00%	2.03%
2018	0.00%	2.17%
2017	0.00%	2.09%
2016	0.00%	2.21%
2015	0.00%	2.55%
2014	0.00%	2.80%
2013	0.00%	3.12%
2012	0.00%	3.08%
2011	0.00%	3.66%
2010	0.00%	4.19%
2009	0.00%	3.77%
2008	0.00%	3.52%
2007	0.00%	0.82%