UTG vs BILS

Comparison between Reaves Utility Income Fund (UTG, ETF) and SPDR BLOOMBERG 3-12 MONTH T-BILL ETF (BILS, ETF).

5-Year PerformanceUTG has outperformed BILS, delivering a return of +12.8% compared to +3.2%

UTG vs BILS - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	UTG(ETF)	BILS(ETF)
Net Assets	$4B	$4B
Expense Ratio	N/A	0.14%
Max Drawdown	71.97%	1.20%
Sharpe Ratio	1.82	1.05
5Y Beta	0.49	-0.00
5Y Dividends CAGR	3.54%	N/A

Net Assets

UTG

$4B

BILS

$4B

Expense Ratio

UTG

N/A

BILS

0.14%

Max Drawdown

UTG

71.97%

Winner

BILS

1.20%

Sharpe Ratio

Winner

UTG

1.82

BILS

1.05

5Y Beta

UTG

0.49

Winner

BILS

-0.00

5Y Dividends CAGR

UTG

3.54%

BILS

N/A

UTG vs BILS - Historical Returns

Returns include dividend reinvestment.

Period	UTG	BILS
1 month	+5.61%	+0.27%
3 months	+10.43%	+0.81%
6 months	+18.34%	+1.75%
1 year	+38.00%	+3.94%
5 years(CAGR)	+12.79%	+3.25%
10 years(CAGR)	+11.21%	N/A
Max(CAGR)	+11.41%	+2.88%

Winner

UTG

+5.61%

BILS

+0.27%

Winner

UTG

+10.43%

BILS

+0.81%

Winner

UTG

+18.34%

BILS

+1.75%

Winner

UTG

+38.00%

BILS

+3.94%

5Y(CAGR)

Winner

UTG

+12.79%

BILS

+3.25%

10Y(CAGR)

UTG

+11.21%

BILS

N/A

Max(CAGR)

Winner

UTG

+11.41%

BILS

+2.88%

UTG vs BILS - Annual Returns (2004 - 2026)

Returns include dividend reinvestment.

Year	UTG	BILS
2026	+18.74%	+1.16%
2025	+22.37%	+4.19%
2024	+26.78%	+5.15%
2023	+1.15%	+4.92%
2022	-13.56%	+0.91%
2021	+14.73%	-0.08%
2020	-5.97%	+0.00%
2019	+34.02%	N/A
2018	+2.33%	N/A
2017	+5.13%	N/A
2016	+29.83%	N/A
2015	-13.79%	N/A
2014	+39.83%	N/A
2013	+10.08%	N/A
2012	+1.56%	N/A
2011	+23.57%	N/A
2010	+24.97%	N/A
2009	+61.39%	N/A
2008	-48.71%	N/A
2007	+13.03%	N/A
2006	+31.94%	N/A
2005	+3.28%	N/A
2004	+5.01%	N/A

UTG vs BILS Drawdown Comparison

The maximum drawdown for UTG was -67.75%, occurring on Mar 9, 2009. Recovery took 642 trading sessions.

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

The current UTG drawdown is -0.60%.

Rank	UTG	BILS
#1	-67.75% Jan 11, 2008 - Jul 30, 2010	-0.41% Feb 5, 2021 - Sep 29, 2022
#2	-47.96% Feb 12, 2020 - Sep 2, 2021	-0.08% Oct 6, 2022 - Oct 27, 2022
#3	-26.50% Apr 20, 2022 - Aug 15, 2024	-0.07% Mar 17, 2023 - Mar 23, 2023
#4	-22.66% Feb 3, 2015 - May 12, 2016	-0.04% Feb 1, 2024 - Feb 7, 2024
#5	-22.28% Aug 24, 2017 - Mar 18, 2019	-0.04% Apr 5, 2023 - Apr 13, 2023
#6	-21.31% Jul 25, 2011 - Sep 20, 2011	-0.04% Mar 13, 2023 - Mar 15, 2023
#7	-20.10% Mar 17, 2004 - Dec 22, 2004	-0.03% Mar 2, 2023 - Mar 9, 2023
#8	-15.96% Jul 3, 2012 - Mar 13, 2013	-0.03% Apr 8, 2025 - Apr 11, 2025
#9	-15.30% May 21, 2007 - Oct 31, 2007	-0.03% Apr 13, 2023 - Apr 19, 2023
#10	-14.94% Nov 27, 2024 - May 15, 2025	-0.03% Nov 10, 2022 - Nov 17, 2022
#11	-14.92% Sep 7, 2005 - Jul 26, 2006	-0.03% Oct 28, 2025 - Oct 31, 2025
#12	-13.54% May 17, 2013 - Feb 11, 2014	-0.03% Mar 24, 2023 - Mar 30, 2023
#13	-11.66% Jul 11, 2016 - Dec 27, 2016	-0.02% Oct 9, 2020 - Feb 5, 2021
#14	-11.57% Oct 15, 2025 - Feb 17, 2026	-0.02% Dec 17, 2024 - Dec 19, 2024
#15	-11.30% Sep 3, 2021 - Apr 20, 2022	-0.02% Mar 15, 2023 - Mar 17, 2023

Correlation

Correlation between UTG and BILS is 0.88 which considered as a strong positive correlation - the stocks tend to move together.

0.88

-101

Dividend Comparison (2004 - 2026)

UTG vs BILS dividend yield comparison.

Year	UTG	BILS
2026	1.38%	1.16%
2025	6.42%	4.08%
2024	7.19%	5.01%
2023	8.53%	4.98%
2022	8.07%	1.61%
2021	6.35%	0.00%
2020	6.59%	0.00%
2019	5.69%	0.00%
2018	6.86%	0.00%
2017	6.21%	0.00%
2016	9.02%	0.00%
2015	6.86%	0.00%
2014	5.06%	0.00%
2013	6.31%	0.00%
2012	6.30%	0.00%
2011	6.49%	0.00%
2010	6.17%	0.00%
2009	7.78%	0.00%
2008	13.58%	0.00%
2007	8.08%	0.00%
2006	5.47%	0.00%
2005	7.65%	0.00%
2004	4.88%	0.00%