CAS vs. VBIL

Last updated Jun 4, 2026

CAS (Simplify China A Shares PLUS Income ETF) and VBIL (Vanguard 0-3 Month Treasury Bill ETF) are both exchange-traded funds - CAS is a China Equities fund actively managed by Simplify, while VBIL is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bills 0-3 Months Index. CAS is actively managed, while VBIL is passively managed. At a correlation of -0.20, they often move in opposite directions. CAS charges 0.88%/yr vs 0.07%/yr for VBIL.

Performance

CAS vs. VBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify China A Shares PLUS Income ETF (CAS) and Vanguard 0-3 Month Treasury Bill ETF (VBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CAS

• 1D: -0.49%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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)

CAS vs. VBIL - Yearly Performance Comparison

	2026 (YTD)
CAS Simplify China A Shares PLUS Income ETF	-1.66%
VBIL Vanguard 0-3 Month Treasury Bill ETF	0.06%

Correlation

The correlation between CAS and VBIL is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	-0.20

Return for Risk

CAS vs. VBIL — Risk / Return Rank

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

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.

CAS vs. VBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify China A Shares PLUS Income ETF (CAS) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CAS	VBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	15.17	—
Sharpe Ratio (All Time) Calculated using the full available price history	-3.61	13.44	-17.05

Drawdowns

CAS vs. VBIL - Drawdown Comparison

The maximum CAS drawdown since its inception was -2.59%, which is greater than VBIL's maximum drawdown of -0.09%. Use the drawdown chart below to compare losses from any high point for CAS and VBIL.

Drawdown Indicators

	CAS	VBIL	Difference
Max Drawdown Largest peak-to-trough decline	-2.59%	-0.09%	-2.50%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.09%	—
Current Drawdown Current decline from peak	-1.66%	0.00%	-1.66%
Average Drawdown Average peak-to-trough decline	-1.72%	-0.00%	-1.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.01%	—

Volatility

Volatility by Period

	CAS	VBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.16%	—
Volatility (1Y) Calculated over the trailing 1-year period	20.83%	0.26%	+20.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.83%	0.30%	+20.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.83%	0.30%	+20.53%

CAS vs. VBIL - Expense Ratio Comparison

CAS has a 0.88% expense ratio, which is higher than VBIL's 0.07% expense ratio.

Dividends

CAS vs. VBIL - Dividend Comparison

CAS has not paid dividends to shareholders, while VBIL's dividend yield for the trailing twelve months is around 3.65%.

Position	TTM	2025
CAS Simplify China A Shares PLUS Income ETF	0.00%	0.00%
VBIL Vanguard 0-3 Month Treasury Bill ETF	3.65%	3.12%

Frequently Asked Questions

Can I hold both CAS and VBIL in my portfolio?

CAS and VBIL have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CAS or VBIL?

On fees, VBIL is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAS or VBIL?

VBIL is cheaper with a 0.07% expense ratio, compared with 0.88% for CAS.

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

VBIL has the higher dividend yield at 3.65%, compared with 0.00% for CAS.

What is the main difference between CAS and VBIL?

CAS is categorized as China Equities, while VBIL is Ultrashort Bond. They also come from different issuers: Simplify and Vanguard. Their fees differ too: 0.88% for CAS and 0.07% for VBIL.