CBIL.TO vs. SGOV

Last updated Apr 2, 2026

Compare and contrast key facts about Global X 0-3 Month T-Bill ETF (CBIL.TO) and iShares 0-3 Month Treasury Bond ETF (SGOV).

CBIL.TO and SGOV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CBIL.TO is an actively managed fund by Global X. It was launched on Apr 12, 2023. SGOV is a passively managed fund by iShares that tracks the performance of the ICE 0-3 Month US Treasury Securities Index. It was launched on May 26, 2020.

Performance

CBIL.TO vs. SGOV - 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 iShares 0-3 Month Treasury Bond ETF (SGOV). The values are adjusted to include any dividend payments, if applicable.

CBIL.TO vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CBIL.TO Global X 0-3 Month T-Bill ETF	0.47%	2.68%	4.47%	3.36%
SGOV iShares 0-3 Month Treasury Bond ETF	2.16%	-0.54%	14.32%	2.89%

Different Trading Currencies

CBIL.TO is traded in CAD, while SGOV is traded in USD. To make them comparable, the SGOV 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 0.47% return, which is significantly lower than SGOV's 2.22% return.

CBIL.TO

• 1D: 0.02%
• 1M: 0.17%
• YTD: 0.47%
• 6M: 1.11%
• 1Y: 2.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SGOV

• 1D: 0.00%
• 1M: 2.00%
• YTD: 2.22%
• 6M: 1.66%
• 1Y: 1.17%
• 3Y*: 5.79%
• 5Y*: 5.56%
• 10Y*: —

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

CBIL.TO vs. SGOV - Expense Ratio Comparison

CBIL.TO has a 0.10% expense ratio, which is higher than SGOV's 0.09% 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%.

CBIL.TO

Global X 0-3 Month T-Bill ETF

SGOV

iShares 0-3 Month Treasury Bond ETF

Return for Risk

CBIL.TO vs. SGOV — 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: 100
CBIL.TO Sharpe Ratio Rank: 100
CBIL.TO Sortino Ratio Rank: 100
CBIL.TO Omega Ratio Rank: 100
CBIL.TO Calmar Ratio Rank: 100
CBIL.TO Martin Ratio Rank: 100

SGOV

SGOV Risk / Return Rank: 100
SGOV Sharpe Ratio Rank: 100
SGOV Sortino Ratio Rank: 100
SGOV Omega Ratio Rank: 100
SGOV Calmar Ratio Rank: 100
SGOV 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.

CBIL.TO vs. SGOV - 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 iShares 0-3 Month Treasury Bond ETF (SGOV). 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.

	CBIL.TO	SGOV	Difference
Sharpe ratio Return per unit of total volatility	10.62	0.22	+10.40
Sortino ratio Return per unit of downside risk	29.97	0.33	+29.65
Omega ratio Gain probability vs. loss probability	7.31	1.04	+6.27
Calmar ratio Return relative to maximum drawdown	60.86	0.14	+60.72
Martin ratio Return relative to average drawdown	434.28	0.27	+434.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBIL.TO vs. SGOV - Sharpe Ratio Comparison

The current CBIL.TO Sharpe Ratio is 10.62, which is higher than the SGOV Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of CBIL.TO and SGOV, 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

	CBIL.TO	SGOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	10.62	0.22	+10.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	11.94	0.48	+11.46

Correlation

The correlation between CBIL.TO and SGOV is 0.01, 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

CBIL.TO vs. SGOV - Dividend Comparison

CBIL.TO's dividend yield for the trailing twelve months is around 2.42%, less than SGOV's 3.95% yield.

	TTM	2025	2024	2023	2022	2021	2020
CBIL.TO Global X 0-3 Month T-Bill ETF	2.42%	2.59%	4.38%	3.39%	0.00%	0.00%	0.00%
SGOV iShares 0-3 Month Treasury Bond ETF	3.95%	4.10%	5.10%	4.87%	1.45%	0.03%	0.05%

Drawdowns

CBIL.TO vs. SGOV - Drawdown Comparison

The maximum CBIL.TO drawdown since its inception was -0.06%, smaller than the maximum SGOV drawdown of -12.53%. Use the drawdown chart below to compare losses from any high point for CBIL.TO and SGOV.

Drawdown Indicators

	CBIL.TO	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	-0.06%	-0.03%	-0.03%
Max Drawdown (1Y) Largest decline over 1 year	-0.04%	-0.01%	-0.03%
Max Drawdown (5Y) Largest decline over 5 years	—	-0.03%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	0.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	0.00%	+0.01%

Volatility

CBIL.TO vs. SGOV - Volatility Comparison

The current volatility for Global X 0-3 Month T-Bill ETF (CBIL.TO) is 0.05%, while iShares 0-3 Month Treasury Bond ETF (SGOV) has a volatility of 1.39%. This indicates that CBIL.TO experiences smaller price fluctuations and is considered to be less risky than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBIL.TO	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.05%	1.39%	-1.34%
Volatility (6M) Calculated over the trailing 6-month period	0.17%	3.44%	-3.27%
Volatility (1Y) Calculated over the trailing 1-year period	0.23%	5.36%	-5.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.31%	6.42%	-6.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.31%	6.46%	-6.15%