CLIP vs. GBIL

Last updated Jun 4, 2026

CLIP (Global X 1-3 Month T-Bill ETF) and GBIL (Goldman Sachs Access Treasury 0-1 Year ETF) are both exchange-traded funds - CLIP is a Ultrashort Bond fund tracking the Solactive 1-3 month US T-Bill Index - USD, while GBIL is a Government Bonds fund tracking the FTSE US Treasury 0-1 Year Composite Select Index. Both are passively managed. Over the past year, CLIP returned 3.96% vs 3.91% for GBIL. At a 0.30 correlation, their price movements are largely independent. CLIP charges 0.07%/yr vs 0.12%/yr for GBIL.

Performance

CLIP vs. GBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X 1-3 Month T-Bill ETF (CLIP) and Goldman Sachs Access Treasury 0-1 Year ETF (GBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLIP achieves a 1.50% return, which is significantly higher than GBIL's 1.42% return.

CLIP

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.50%
• 6M: 1.82%
• 1Y: 3.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GBIL

• 1D: 0.02%
• 1M: 0.28%
• YTD: 1.42%
• 6M: 1.73%
• 1Y: 3.91%
• 3Y*: 4.64%
• 5Y*: 3.32%
• 10Y*: —

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

CLIP vs. GBIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CLIP Global X 1-3 Month T-Bill ETF	1.50%	4.23%	5.26%	2.82%
GBIL Goldman Sachs Access Treasury 0-1 Year ETF	1.42%	4.12%	5.24%	2.84%

Correlation

The correlation between CLIP and GBIL is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.30

The correlation between CLIP and GBIL shifts across timeframes, from 0.30 (all time) to 0.42 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CLIP vs. GBIL — Risk / Return Rank

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

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP Martin Ratio Rank: 100

GBIL

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

CLIP vs. GBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X 1-3 Month T-Bill ETF (CLIP) and Goldman Sachs Access Treasury 0-1 Year ETF (GBIL). 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.

	CLIP	GBIL	Difference
Sharpe ratio: Return per unit of total volatility	17.26	16.89	+0.37
Sortino ratio: Return per unit of downside risk	72.02	102.89	-30.87
Omega ratio: Gain probability vs. loss probability	20.66	39.42	-18.76
Calmar ratio: Return relative to maximum drawdown	142.22	196.43	-54.21
Martin ratio: Return relative to average drawdown	1,151.15	1,608.66	-457.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLIP vs. GBIL - Sharpe Ratio Comparison

The current CLIP Sharpe Ratio is 17.26, which is comparable to the GBIL Sharpe Ratio of 16.89. The chart below compares the historical Sharpe Ratios of CLIP and GBIL, 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

	CLIP	GBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	17.26	16.89	+0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	5.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	10.71	4.87	+5.84

Drawdowns

CLIP vs. GBIL - Drawdown Comparison

The maximum CLIP drawdown since its inception was -0.08%, smaller than the maximum GBIL drawdown of -0.76%. Use the drawdown chart below to compare losses from any high point for CLIP and GBIL.

Drawdown Indicators

	CLIP	GBIL	Difference
Max Drawdown Largest peak-to-trough decline	-0.08%	-0.76%	+0.68%
Max Drawdown (1Y) Largest decline over 1 year	-0.03%	-0.02%	-0.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.76%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.04%	+0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.00%	0.00%

Volatility

CLIP vs. GBIL - Volatility Comparison

Global X 1-3 Month T-Bill ETF (CLIP) has a higher volatility of 0.06% compared to Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) at 0.04%. This indicates that CLIP's price experiences larger fluctuations and is considered to be riskier than GBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLIP	GBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	0.04%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	0.14%	0.14%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	0.23%	0.23%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.44%	0.58%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.44%	0.47%	-0.03%

CLIP vs. GBIL - Expense Ratio Comparison

CLIP has a 0.07% expense ratio, which is lower than GBIL's 0.12% 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

CLIP vs. GBIL - Dividend Comparison

CLIP's dividend yield for the trailing twelve months is around 3.91%, more than GBIL's 3.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CLIP Global X 1-3 Month T-Bill ETF	3.91%	4.14%	5.11%	2.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GBIL Goldman Sachs Access Treasury 0-1 Year ETF	3.74%	4.02%	4.93%	4.77%	1.37%	0.00%	0.81%	2.20%	1.70%	0.74%	0.11%

Frequently Asked Questions

Can I hold both CLIP and GBIL in my portfolio?

CLIP and GBIL have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLIP or GBIL?

CLIP has higher volatility (0.06%) compared to GBIL (0.04%). In terms of maximum drawdown, CLIP dropped -0.08% vs GBIL's -0.76%.

Which ETF is better, CLIP or GBIL?

On 1-year performance, CLIP leads with 3.96% vs 3.91% for GBIL. On fees, CLIP 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, CLIP or GBIL?

Over the 1-year period, CLIP has performed better with a 3.96% return vs 3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLIP or GBIL?

CLIP is cheaper with a 0.07% expense ratio, compared with 0.12% for GBIL.

Which ETF pays a higher dividend yield, CLIP or GBIL?

CLIP has the higher dividend yield at 3.91%, compared with 3.74% for GBIL.

What is the main difference between CLIP and GBIL?

CLIP is categorized as Ultrashort Bond, while GBIL is Government Bonds. CLIP tracks Solactive 1-3 month US T-Bill Index - USD, while GBIL tracks FTSE US Treasury 0-1 Year Composite Select Index. They also come from different issuers: Global X and Goldman Sachs. Their fees differ too: 0.07% for CLIP and 0.12% for GBIL.

Which has better risk-adjusted returns?

CLIP currently has the higher Sharpe Ratio (17.26 vs 16.89), 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.