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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in US Treasury 3 Month Bill ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
US Treasury 3 Month Bill ETF (TBIL) has returned 0.87% so far this year and 4.05% over the past 12 months.
US Treasury 3 Month Bill ETF
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 0.87%
- 6M
- 1.89%
- 1Y
- 4.05%
- 3Y*
- 4.71%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Aug 9, 2022, TBIL's average daily return is +0.02%, while the average monthly return is +0.37%. At this rate, your investment would double in approximately 15.6 years.
Historically, 100% of months were positive and 0% were negative. The best month was Aug 2023 with a return of +0.5%, while the worst month was Aug 2022 at 0.1%. The longest winning streak lasted 44 consecutive months, and the longest losing streak was 0 months.
On a daily basis, TBIL closed higher 66% of trading days. The best single day was Oct 3, 2022 with a return of +0.1%, while the worst single day was Oct 4, 2022 at -0.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.31% | 0.24% | 0.32% | 0.87% | |||||||||
| 2025 | 0.36% | 0.29% | 0.35% | 0.35% | 0.35% | 0.32% | 0.35% | 0.43% | 0.31% | 0.37% | 0.29% | 0.35% | 4.19% |
| 2024 | 0.38% | 0.44% | 0.40% | 0.42% | 0.50% | 0.38% | 0.44% | 0.46% | 0.45% | 0.37% | 0.36% | 0.43% | 5.15% |
| 2023 | 0.33% | 0.37% | 0.48% | 0.34% | 0.42% | 0.46% | 0.35% | 0.51% | 0.38% | 0.46% | 0.42% | 0.46% | 5.12% |
| 2022 | 0.09% | 0.32% | 0.17% | 0.38% | 0.33% | 1.30% |
Benchmark Metrics
US Treasury 3 Month Bill ETF has an annualized alpha of 4.58%, beta of 0.00, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since August 10, 2022.
- This ETF captured 8.78% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -12.90%) — a profile typical of hedging or uncorrelated assets.
- Beta of 0.00 may look defensive, but with R² of 0.00 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R² of 0.00 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 4.58%
- Beta
- 0.00
- R²
- 0.00
- Upside Capture
- 8.78%
- Downside Capture
- -12.90%
Expense Ratio
TBIL has an expense ratio of 0.15%, which is considered low.
Return for Risk
Risk / Return Rank
TBIL ranks 100 for risk / return — in the top 100% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for US Treasury 3 Month Bill ETF (TBIL) and compare them to a chosen benchmark (S&P 500 Index).
| TBIL | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 14.34 | 0.90 | +13.44 |
Sortino ratioReturn per unit of downside risk | 63.08 | 1.39 | +61.70 |
Omega ratioGain probability vs. loss probability | 19.16 | 1.21 | +17.95 |
Calmar ratioReturn relative to maximum drawdown | 204.06 | 1.40 | +202.66 |
Martin ratioReturn relative to average drawdown | 1,017.13 | 6.61 | +1,010.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore TBIL risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
US Treasury 3 Month Bill ETF provided a 4.28% dividend yield over the last twelve months, with an annual payout of $2.13 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $2.13 | $2.03 | $2.51 | $2.49 | $0.55 |
Dividend yield | 4.28% | 4.07% | 5.02% | 5.00% | 1.10% |
Monthly Dividends
The table displays the monthly dividend distributions for US Treasury 3 Month Bill ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.16 | $0.15 | $0.15 | $0.45 | |||||||||
| 2025 | $0.00 | $0.17 | $0.17 | $0.17 | $0.17 | $0.18 | $0.19 | $0.17 | $0.17 | $0.16 | $0.16 | $0.30 | $2.03 |
| 2024 | $0.00 | $0.22 | $0.22 | $0.22 | $0.22 | $0.22 | $0.22 | $0.22 | $0.22 | $0.21 | $0.19 | $0.37 | $2.51 |
| 2023 | $0.00 | $0.18 | $0.19 | $0.18 | $0.20 | $0.21 | $0.22 | $0.22 | $0.22 | $0.22 | $0.22 | $0.44 | $2.49 |
| 2022 | $0.15 | $0.15 | $0.25 | $0.55 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the US Treasury 3 Month Bill ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the US Treasury 3 Month Bill ETF was 0.10%, occurring on Oct 5, 2022. Recovery took 6 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -0.1% | Oct 4, 2022 | 2 | Oct 5, 2022 | 6 | Oct 13, 2022 | 8 |
| -0.05% | Dec 27, 2022 | 1 | Dec 27, 2022 | 2 | Dec 29, 2022 | 3 |
| -0.04% | Aug 11, 2022 | 3 | Aug 15, 2022 | 1 | Aug 16, 2022 | 4 |
| -0.04% | Nov 15, 2022 | 1 | Nov 15, 2022 | 2 | Nov 17, 2022 | 3 |
| -0.04% | Apr 10, 2023 | 1 | Apr 10, 2023 | 1 | Apr 11, 2023 | 2 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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