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Spiko US T-Bills Money Market Fund vs BlackRock USD Institutional Digital Liquidity Fund

BlackRock USD Institutional Digital Liquidity Fund (BUIDL) is 11.4× the size of Spiko US T-Bills Money Market Fund (USTBL) by market capitalisation. Over the past 30 days, USTBL is ahead by 0.4 percentage points (USTBL +0.4% against BUIDL +0.0%). Both have run at a similar volatility, around 0% annualised.

Size ratio
1 : 11.4
Ahead over 30 days
USTBL
Spiko US T-Bills Money Market FundUSTBL

$1.1000

24h
+0.01%
Market cap
$173.82M
Volume 24h
—
Volatility (ann.)
1%
BlackRock USD Institutional Digital Liquidity FundBUIDL

$1.0000

24h
+0.00%
Market cap
$1.99B
Volume 24h
—
Volatility (ann.)
0%
USTBL 8.0%Share of the two combined market caps92.0% BUIDL

Performance

USTBLBUIDL

  1. 7 days+0.00%+0.00%USTBL
  2. 30 days+0.36%+0.00%USTBL

Risk & extremes

MetricUSTBLBUIDL
Max drawdown (400d)0.0%0.0%
Risk-adjusted return (90d)0.96—

Relative strength over 90 days: USTBL outperformed BUIDL by 0.6% — measured on the USTBL/BUIDL ratio, so it holds regardless of market direction.

Spiko US T-Bills Money Market Fund →BlackRock USD Institutional Digital Liquidity Fund →