ARCM vs. VBIL

Last updated Apr 1, 2026

Compare and contrast key facts about Arrow Reserve Capital Management ETF (ARCM) and Vanguard 0-3 Month Treasury Bill ETF (VBIL).

ARCM and VBIL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ARCM is an actively managed fund by Arrow Funds. It was launched on Mar 31, 2017. VBIL is a passively managed fund by Vanguard that tracks the performance of the Bloomberg US Treasury Bills 0-3 Months Index. It was launched on Feb 7, 2025.

Performance

ARCM vs. VBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arrow Reserve Capital Management ETF (ARCM) and Vanguard 0-3 Month Treasury Bill ETF (VBIL). The values are adjusted to include any dividend payments, if applicable.

ARCM vs. VBIL - Yearly Performance Comparison

	2026 (YTD)	2025
ARCM Arrow Reserve Capital Management ETF	0.71%	3.62%
VBIL Vanguard 0-3 Month Treasury Bill ETF	0.86%	3.71%

Returns By Period

In the year-to-date period, ARCM achieves a 0.71% return, which is significantly lower than VBIL's 0.86% return.

ARCM

• 1D: 0.03%
• 1M: 0.12%
• YTD: 0.71%
• 6M: 1.67%
• 1Y: 3.77%
• 3Y*: 4.60%
• 5Y*: 3.03%
• 10Y*: —

VBIL

• 1D: 0.03%
• 1M: 0.30%
• YTD: 0.86%
• 6M: 1.88%
• 1Y: 4.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARCM vs. VBIL - Expense Ratio Comparison

ARCM has a 0.50% expense ratio, which is higher than VBIL's 0.07% expense ratio.

ARCM

Arrow Reserve Capital Management ETF

VBIL

Vanguard 0-3 Month Treasury Bill ETF

Return for Risk

ARCM vs. VBIL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARCM

ARCM Risk / Return Rank: 99
ARCM Sharpe Ratio Rank: 99
ARCM Sortino Ratio Rank: 99
ARCM Omega Ratio Rank: 99
ARCM Calmar Ratio Rank: 99
ARCM Martin Ratio Rank: 100

VBIL

VBIL Risk / Return Rank: 100
VBIL Sharpe Ratio Rank: 100
VBIL Sortino Ratio Rank: 100
VBIL Omega Ratio Rank: 100
VBIL Calmar Ratio Rank: 100
VBIL Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARCM vs. VBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arrow Reserve Capital Management ETF (ARCM) and Vanguard 0-3 Month Treasury Bill ETF (VBIL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ARCM	VBIL	Difference
Sharpe ratio Return per unit of total volatility	8.72	12.70	-3.99
Sortino ratio Return per unit of downside risk	18.04	29.61	-11.57
Omega ratio Gain probability vs. loss probability	4.62	12.58	-7.97
Calmar ratio Return relative to maximum drawdown	30.46	44.01	-13.55
Martin ratio Return relative to average drawdown	243.95	379.94	-135.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARCM vs. VBIL - Sharpe Ratio Comparison

The current ARCM Sharpe Ratio is 8.72, which is lower than the VBIL Sharpe Ratio of 12.70. The chart below compares the historical Sharpe Ratios of ARCM and VBIL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ARCM	VBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	8.72	12.70	-3.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.01	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	13.08	-13.08

Correlation

The correlation between ARCM and VBIL is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ARCM vs. VBIL - Dividend Comparison

ARCM's dividend yield for the trailing twelve months is around 3.88%, more than VBIL's 3.67% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARCM Arrow Reserve Capital Management ETF	3.88%	4.13%	4.87%	4.26%	0.90%	0.02%	0.84%	2.32%	1.91%	0.62%
VBIL Vanguard 0-3 Month Treasury Bill ETF	3.67%	3.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ARCM vs. VBIL - Drawdown Comparison

The maximum ARCM drawdown since its inception was -96.02%, which is greater than VBIL's maximum drawdown of -0.09%. Use the drawdown chart below to compare losses from any high point for ARCM and VBIL.

Drawdown Indicators

	ARCM	VBIL	Difference
Max Drawdown Largest peak-to-trough decline	-96.02%	-0.09%	-95.93%
Max Drawdown (1Y) Largest decline over 1 year	-0.12%	-0.09%	-0.03%
Max Drawdown (5Y) Largest decline over 5 years	-3.46%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.78%	0.00%	-0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	0.01%	+0.01%

Volatility

ARCM vs. VBIL - Volatility Comparison

Arrow Reserve Capital Management ETF (ARCM) has a higher volatility of 0.18% compared to Vanguard 0-3 Month Treasury Bill ETF (VBIL) at 0.07%. This indicates that ARCM's price experiences larger fluctuations and is considered to be riskier than VBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARCM	VBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.18%	0.07%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	0.31%	0.16%	+0.15%
Volatility (1Y) Calculated over the trailing 1-year period	0.43%	0.32%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.02%	0.31%	+2.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	835.19%	0.31%	+834.88%