NOVZvsBILETF Comparison
ETF 1
NOVZ
TrueShares Structured Outcome November ETF - USD
This fund is part of
Options Strategies
-0.47%
VS
TrueShares Structured Outcome November ETF - USD (NOVZ) belongs to the Options Strategies segment. State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) is part of the Money Market Bonds segment. NOVZ's top 2 sector exposures are Sovereign and Non-Corporate. In contrast, BIL's top sector exposures are Sovereign. NOVZ is more expensive with a Total Expense Ratio (TER) of 0.79%, versus 0.1353% for BIL. NOVZ is up 8.28% year-to-date (YTD) with +$17M in YTD flows. BIL performs worse with 2.37% YTD performance, and +$3.49B in YTD flows. Run a side-by-side ETF comparison of NOVZ and BIL below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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NOVZ vs BIL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | NOVZ BIL | +0.21%+0.28% | -0.09%+0.90% | +8.28%+2.37% | +14.18%+3.70% | +51.97%+14.11% | +60.51%+19.29% |
| Flows | NOVZ BIL | +$2M-$953M | +$6M+$198M | +$17M+$3.49B | +$15M+$4.34B | +$21M+$16.88B | +$27M+$34.18B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | NOVZ BIL | +10.13%+0.14% | +9.63%+0.15% | +11.58%+0.19% | +12.98%+0.20% |
| Max drawdown | NOVZ BIL | -3.33%n/a | -6.65%n/a | -14.50%n/a | -17.00%-0.05% |
| Max drawdown duration | NOVZ BIL | 62dn/a | 92dn/a | 126dn/a | 548d274d |
Trading data
NOVZ | BIL | |
Last sale 9/2/2026 at 1:46 PM | $47.49 | $91.40 |
| Previous close 09/01/2026 | $47.49 | $91.39 |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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NOVZ
is actively managed and doesn’t replicate an indexNOVZ | BIL | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/2/2026 at 1:46 PM
Live
Closed
NOVZ | BIL | |
|---|---|---|
| Last price | $47.49 | $91.40 |
| 1D performance | +0.00% | +0.01% |
| AuM | $37.08 M | $46.18 B |
| E/R | 0.79% | 0.1353% |
Characteristics
NOVZ | BIL | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | TrueShares | State Street Investment Management |
| Benchmark | - | Bloomberg U.S. Treasury Bills 1-3 Months Index |
| N° of holdings | 2 | 18 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 1, 2020 | May 25, 2007 |
| ESG | No | No |
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Exposure
Countries
NOVZ
USA
93.52%
Other
6.48%
BIL
USA
98.9%
Other
1.1%
Sectors
NOVZ
Sovereign
93.43%
Other
6.57%
BIL
Sovereign
98.9%
Other
1.1%
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Diversification
NOVZ
Total weight of top 2 holdings out of 2
93.52%
BIL
Total weight of top 15 holdings out of 15
91.95%
Top 15 holdings
Data as of July 31, 2026
NOVZ
USA, Bills 0% 29oct2026, USD (364D)
93.43%
State Street Institutional US Government Money Market Fund
0.09%
BIL
USA, Bills 0% 3sep2026, USD (364D)
10.37%
USA, Bills 0% 10sep2026, USD (182D)
10.10%
USA, Bills 0% 29oct2026, USD (364D)
8.05%
USA, Bills 0% 1oct2026, USD (364D)
7.34%
USA, Bills 0% 17sep2026, USD (182D)
7.01%
USA, Bills 0% 24sep2026, USD (182D)
6.94%
USA, Bills 0% 22sep2026, USD (119D)
5.93%
USA, Bills 0% 22oct2026, USD (182D)
5.86%
USA, Bills 0% 8oct2026, USD (182D)
5.76%
USA, Bills 0% 15oct2026, USD (182D)
5.23%
USA, Bills 0% 1sep2026, USD (119D)
5.05%
USA, Bills 0% 15sep2026, USD (119D)
4.72%
USA, Bills 0% 8sep2026, USD (119D)
4.36%
USA, Bills 0% 29sep2026, USD (119D)
2.62%
USA, Bills 0% 27oct2026, USD (119D)
2.61%
Frequently asked questions about NOVZ and BIL
How have the NOVZ and BIL ETFs performed in 2026?
As of September 1, 2026, NOVZ is up 8.28% year-to-date (YTD), while BIL has returned 2.37%. That puts NOVZ better performer ahead so far this year.
Which ETF is attracting more investor money: NOVZ or BIL?
Year-to-date, the NOVZ ETF saw +$17M in flows, compared to +$3.49B for BIL.
Which ETF is more volatile: NOVZ or BIL?
Over the past year, NOVZ had a volatility of 9.63%, while BIL experienced 0.15%.
Which ETF is bigger: NOVZ or BIL?
As of September 1, 2026, NOVZ holds $37.08 M in assets under management (AUM), while BIL manages $46.18 B.
What sectors do the NOVZ and BIL ETFs invest in?
NOVZ leans toward sectors like Sovereign. Meanwhile, BIL focuses on Sovereign.
What are the top holdings of the NOVZ ETF and BIL ETF?
NOVZ top holdings include USA, Bills 0% 29oct2026, USD (364D) and State Street Institutional US Government Money Market Fund. BIL holds in its top three: USA, Bills 0% 3sep2026, USD (364D), USA, Bills 0% 10sep2026, USD (182D) and USA, Bills 0% 29oct2026, USD (364D).
Which ETF is more diversified: NOVZ or BIL?
NOVZ has 2 securities. BIL has 18 securities and a top 15 weight of 91.95%.
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