AVIV vs. CBIL.TO

Last updated Jun 13, 2026

AVIV (Avantis International Large Cap Value ETF) and CBIL.TO (Global X 0-3 Month T-Bill ETF) are both exchange-traded funds - AVIV is a Foreign Large Cap Equities fund tracking the MSCI World ex-U.S. Value Index, while CBIL.TO is a Canadian Government Bonds fund actively managed by Global X. AVIV is passively managed, while CBIL.TO is actively managed. Over the past 3 years, AVIV returned 21.41%/yr vs 2.05%/yr for CBIL.TO. At a 0.07 correlation, their price movements are largely independent. AVIV charges 0.25%/yr vs 0.10%/yr for CBIL.TO.

Performance

AVIV vs. CBIL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Large Cap Value ETF (AVIV) and Global X 0-3 Month T-Bill ETF (CBIL.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

AVIV is traded in USD, while CBIL.TO is traded in CAD. To make them comparable, the CBIL.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, AVIV achieves a 12.06% return, which is significantly higher than CBIL.TO's -1.18% return.

AVIV

• 1D: 0.59%
• 1M: 0.54%
• YTD: 12.06%
• 6M: 13.52%
• 1Y: 32.22%
• 3Y*: 21.41%
• 5Y*: —
• 10Y*: —

CBIL.TO

• 1D: -0.27%
• 1M: -1.87%
• YTD: -1.18%
• 6M: -0.45%
• 1Y: 0.01%
• 3Y*: 2.05%
• 5Y*: —
• 10Y*: —

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

AVIV vs. CBIL.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AVIV Avantis International Large Cap Value ETF	12.06%	41.80%	4.30%	7.58%
CBIL.TO Global X 0-3 Month T-Bill ETF	-1.07%	7.59%	-3.68%	4.22%

Correlation

The correlation between AVIV and CBIL.TO is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (All Time) Calculated using the full available price history since Apr 14, 2023	0.07

Return for Risk

AVIV vs. CBIL.TO — Risk / Return Rank

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

AVIV

AVIV Risk / Return Rank: 74
AVIV Sharpe Ratio Rank: 77
AVIV Sortino Ratio Rank: 77
AVIV Omega Ratio Rank: 77
AVIV Calmar Ratio Rank: 66
AVIV Martin Ratio Rank: 71

CBIL.TO

CBIL.TO Risk / Return Rank: 99
CBIL.TO Sharpe Ratio Rank: 99
CBIL.TO Sortino Ratio Rank: 99
CBIL.TO Omega Ratio Rank: 99
CBIL.TO Calmar Ratio Rank: 99
CBIL.TO Martin Ratio Rank: 99

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.

AVIV vs. CBIL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Large Cap Value ETF (AVIV) and Global X 0-3 Month T-Bill ETF (CBIL.TO). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AVIV	CBIL.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.15	0.00	+2.15
Sortino ratio: Return per unit of downside risk	2.96	0.04	+2.92
Omega ratio: Gain probability vs. loss probability	1.39	1.00	+0.39
Calmar ratio: Return relative to maximum drawdown	2.91	0.00	+2.91
Martin ratio: Return relative to average drawdown	11.35	0.00	+11.35

AVIV vs. CBIL.TO - Sharpe Ratio Comparison

The current AVIV Sharpe Ratio is 2.15, which is higher than the CBIL.TO Sharpe Ratio of 0.00. The chart below compares the historical Sharpe Ratios of AVIV and CBIL.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVIV vs. CBIL.TO - Drawdown Comparison

The maximum AVIV drawdown since its inception was -27.69%, which is greater than CBIL.TO's maximum drawdown of -7.62%. Use the drawdown chart below to compare losses from any high point for AVIV and CBIL.TO.

Drawdown Indicators

	AVIV	CBIL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-27.69%	-7.62%	-20.07%
Max Drawdown (1Y) Largest decline over 1 year	-10.78%	-2.98%	-7.80%
Max Drawdown (3Y) Largest decline over 3 years	-14.13%	-7.62%	-6.51%
Current Drawdown Current decline from peak	-0.89%	-2.78%	+1.89%
Average Drawdown Average peak-to-trough decline	-5.10%	-1.87%	-3.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	1.55%	+1.21%

Volatility

AVIV vs. CBIL.TO - Volatility Comparison

Avantis International Large Cap Value ETF (AVIV) has a higher volatility of 5.13% compared to Global X 0-3 Month T-Bill ETF (CBIL.TO) at 0.77%. This indicates that AVIV's price experiences larger fluctuations and is considered to be riskier than CBIL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVIV	CBIL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.13%	0.77%	+4.36%
Volatility (6M) Calculated over the trailing 6-month period	12.33%	3.24%	+9.09%
Volatility (1Y) Calculated over the trailing 1-year period	14.61%	4.42%	+10.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.93%	5.42%	+11.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.93%	5.42%	+11.51%

AVIV vs. CBIL.TO - Expense Ratio Comparison

AVIV has a 0.25% expense ratio, which is higher than CBIL.TO's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AVIV vs. CBIL.TO - Dividend Comparison

AVIV's dividend yield for the trailing twelve months is around 3.95%, more than CBIL.TO's 2.29% yield.

Position	TTM	2025	2024	2023	2022	2021
AVIV Avantis International Large Cap Value ETF	3.95%	3.01%	3.46%	3.64%	2.84%	0.57%
CBIL.TO Global X 0-3 Month T-Bill ETF	2.29%	2.58%	4.38%	3.39%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVIV and CBIL.TO in my portfolio?

AVIV and CBIL.TO have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AVIV or CBIL.TO?

On fees, CBIL.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AVIV or CBIL.TO?

CBIL.TO is cheaper with a 0.10% expense ratio, compared with 0.25% for AVIV.

What is the main difference between AVIV and CBIL.TO?

AVIV is categorized as Foreign Large Cap Equities, while CBIL.TO is Canadian Government Bonds. They also come from different issuers: Avantis and Global X. Their fees differ too: 0.25% for AVIV and 0.10% for CBIL.TO.