CBIL.TO vs. AVLV

Last updated Jun 13, 2026

CBIL.TO (Global X 0-3 Month T-Bill ETF) and AVLV (Avantis U.S. Large Cap Value ETF) are both exchange-traded funds - CBIL.TO is a Canadian Government Bonds fund actively managed by Global X, while AVLV is a Large Cap Value Equities fund actively managed by Avantis. Both are actively managed. Over the past 3 years, CBIL.TO returned 3.62%/yr vs 24.30%/yr for AVLV. At a correlation of -0.00, they often move in opposite directions. CBIL.TO charges 0.10%/yr vs 0.15%/yr for AVLV.

Performance

CBIL.TO vs. AVLV - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

In the year-to-date period, CBIL.TO achieves a 0.93% return, which is significantly lower than AVLV's 24.13% return.

CBIL.TO

• 1D: 0.02%
• 1M: 0.20%
• YTD: 0.93%
• 6M: 1.08%
• 1Y: 2.34%
• 3Y*: 3.62%
• 5Y*: —
• 10Y*: —

AVLV

• 1D: 1.01%
• 1M: 6.23%
• YTD: 24.13%
• 6M: 23.34%
• 1Y: 41.89%
• 3Y*: 24.30%
• 5Y*: —
• 10Y*: —

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

CBIL.TO vs. AVLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CBIL.TO Global X 0-3 Month T-Bill ETF	0.93%	2.68%	4.47%	3.36%
AVLV Avantis U.S. Large Cap Value ETF	24.00%	9.87%	27.43%	11.65%

Correlation

The correlation between CBIL.TO and AVLV is -0.04, 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	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (All Time) Calculated using the full available price history since Apr 14, 2023	-0.00

Return for Risk

CBIL.TO vs. AVLV — Risk / Return Rank

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

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

AVLV

AVLV Risk / Return Rank: 94
AVLV Sharpe Ratio Rank: 94
AVLV Sortino Ratio Rank: 94
AVLV Omega Ratio Rank: 92
AVLV Calmar Ratio Rank: 94
AVLV Martin Ratio Rank: 94

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.

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

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

	CBIL.TO	AVLV	Difference
Sharpe ratio: Return per unit of total volatility	9.29	3.21	+6.08
Sortino ratio: Return per unit of downside risk	21.67	4.47	+17.20
Omega ratio: Gain probability vs. loss probability	5.59	1.55	+4.04
Calmar ratio: Return relative to maximum drawdown	59.18	7.31	+51.87
Martin ratio: Return relative to average drawdown	326.28	28.18	+298.11

CBIL.TO vs. AVLV - Sharpe Ratio Comparison

The current CBIL.TO Sharpe Ratio is 9.29, which is higher than the AVLV Sharpe Ratio of 3.21. The chart below compares the historical Sharpe Ratios of CBIL.TO and AVLV, 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

CBIL.TO vs. AVLV - Drawdown Comparison

The maximum CBIL.TO drawdown since its inception was -0.06%, smaller than the maximum AVLV drawdown of -20.02%. Use the drawdown chart below to compare losses from any high point for CBIL.TO and AVLV.

Drawdown Indicators

	CBIL.TO	AVLV	Difference
Max Drawdown Largest peak-to-trough decline	-0.06%	-20.02%	+19.96%
Max Drawdown (1Y) Largest decline over 1 year	-0.04%	-5.76%	+5.72%
Max Drawdown (3Y) Largest decline over 3 years	-0.06%	-20.02%	+19.96%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-3.49%	+3.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	1.49%	-1.48%

Volatility

CBIL.TO vs. AVLV - Volatility Comparison

The current volatility for Global X 0-3 Month T-Bill ETF (CBIL.TO) is 0.06%, while Avantis U.S. Large Cap Value ETF (AVLV) has a volatility of 3.88%. This indicates that CBIL.TO experiences smaller price fluctuations and is considered to be less risky than AVLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBIL.TO	AVLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	3.88%	-3.82%
Volatility (6M) Calculated over the trailing 6-month period	0.19%	9.96%	-9.77%
Volatility (1Y) Calculated over the trailing 1-year period	0.25%	13.12%	-12.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.32%	18.21%	-17.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.32%	18.21%	-17.89%

CBIL.TO vs. AVLV - Expense Ratio Comparison

CBIL.TO has a 0.10% expense ratio, which is lower than AVLV's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CBIL.TO vs. AVLV - Dividend Comparison

CBIL.TO's dividend yield for the trailing twelve months is around 2.29%, more than AVLV's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021
AVLV Avantis U.S. Large Cap Value ETF	1.37%	1.33%	1.58%	1.85%	2.00%	0.29%
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 CBIL.TO and AVLV in my portfolio?

CBIL.TO and AVLV have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CBIL.TO or AVLV?

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, CBIL.TO or AVLV?

CBIL.TO is cheaper with a 0.10% expense ratio, compared with 0.15% for AVLV.

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

CBIL.TO is categorized as Canadian Government Bonds, while AVLV is Large Cap Value Equities. They also come from different issuers: Global X and Avantis. Their fees differ too: 0.10% for CBIL.TO and 0.15% for AVLV.