ARCM vs. VBIL

Last updated Jun 4, 2026

ARCM (Arrow Reserve Capital Management ETF) and VBIL (Vanguard 0-3 Month Treasury Bill ETF) are both Ultrashort Bond funds. ARCM is actively managed, while VBIL is passively managed. Over the past year, ARCM returned 3.72% vs 3.93% for VBIL. At a 0.31 correlation, their price movements are largely independent. ARCM charges 0.50%/yr vs 0.07%/yr for VBIL.

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.

Returns By Period

In the year-to-date period, ARCM achieves a 1.36% return, which is significantly lower than VBIL's 1.50% return.

ARCM

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.36%
• 6M: 1.63%
• 1Y: 3.72%
• 3Y*: 4.62%
• 5Y*: 3.16%
• 10Y*: —

VBIL

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.50%
• 6M: 1.80%
• 1Y: 3.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ARCM vs. VBIL - Yearly Performance Comparison

	2026 (YTD)	2025
ARCM Arrow Reserve Capital Management ETF	1.36%	3.62%
VBIL Vanguard 0-3 Month Treasury Bill ETF	1.50%	3.71%

Correlation

The correlation between ARCM and VBIL is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (All Time) Calculated using the full available price history since Feb 12, 2025	0.31

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: 99

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: 99
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	8.44	15.17	-6.72
Sortino ratio: Return per unit of downside risk	17.75	39.11	-21.36
Omega ratio: Gain probability vs. loss probability	4.50	21.10	-16.60
Calmar ratio: Return relative to maximum drawdown	29.94	42.61	-12.67
Martin ratio: Return relative to average drawdown	243.82	532.54	-288.71
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 8.44, which is lower than the VBIL Sharpe Ratio of 15.17. The chart below compares the historical Sharpe Ratios of ARCM and VBIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ARCM	VBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	8.44	15.17	-6.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	13.44	-12.69

Drawdowns

ARCM vs. VBIL - Drawdown Comparison

The maximum ARCM drawdown since its inception was -4.08%, 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	-4.08%	-0.09%	-3.99%
Max Drawdown (1Y) Largest decline over 1 year	-0.12%	-0.09%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-3.46%	—	—
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	-0.73%	-0.00%	-0.73%
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 0.10% compared to Vanguard 0-3 Month Treasury Bill ETF (VBIL) at 0.06%. 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	0.10%	0.06%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	0.32%	0.16%	+0.16%
Volatility (1Y) Calculated over the trailing 1-year period	0.44%	0.26%	+0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.02%	0.30%	+2.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.13%	0.30%	+2.83%

ARCM vs. VBIL - Expense Ratio Comparison

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

Dividends

ARCM vs. VBIL - Dividend Comparison

ARCM's dividend yield for the trailing twelve months is around 3.73%, more than VBIL's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARCM Arrow Reserve Capital Management ETF	3.73%	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	3.65%	3.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ARCM and VBIL in my portfolio?

ARCM and VBIL have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARCM or VBIL?

ARCM has higher volatility (0.10%) compared to VBIL (0.06%). In terms of maximum drawdown, ARCM dropped -4.08% vs VBIL's -0.09%.

Which ETF is better, ARCM or VBIL?

On 1-year performance, VBIL leads with 3.93% vs 3.72% for ARCM. On fees, VBIL is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARCM or VBIL?

Over the 1-year period, VBIL has performed better with a 3.93% return vs 3.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARCM or VBIL?

VBIL is cheaper with a 0.07% expense ratio, compared with 0.50% for ARCM.

Which ETF pays a higher dividend yield, ARCM or VBIL?

ARCM has the higher dividend yield at 3.73%, compared with 3.65% for VBIL.

What is the main difference between ARCM and VBIL?

They also come from different issuers: Arrow Funds and Vanguard. Their fees differ too: 0.50% for ARCM and 0.07% for VBIL.

Which has better risk-adjusted returns?

VBIL currently has the higher Sharpe Ratio (15.17 vs 8.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.