CLIP vs. TBIL
Compare and contrast key facts about Global X 1-3 Month T-Bill ETF (CLIP) and US Treasury 3 Month Bill ETF (TBIL).
CLIP and TBIL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CLIP is a passively managed fund by Global X that tracks the performance of the Solactive 1-3 month US T-Bill Index - USD. It was launched on Jun 20, 2023. TBIL is a passively managed fund by US Benchmark Series that tracks the performance of the ICE BofA US Treasury Bill 3 Month Index. It was launched on Aug 8, 2022. Both CLIP and TBIL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CLIP or TBIL.
Key characteristics
| CLIP | TBIL | |
|---|---|---|
| YTD Return | 4.59% | 4.73% |
| 1Y Return | 5.36% | 5.47% |
| Sharpe Ratio | 8.49 | 14.58 |
| Sortino Ratio | 20.67 | 79.35 |
| Omega Ratio | 4.61 | 24.15 |
| Calmar Ratio | 67.17 | 271.14 |
| Martin Ratio | 310.06 | 1,240.29 |
| Ulcer Index | 0.02% | 0.00% |
| Daily Std Dev | 0.57% | 0.38% |
| Max Drawdown | -0.08% | -0.10% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between CLIP and TBIL is 0.09, 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.
Performance
CLIP vs. TBIL - Performance Comparison
The year-to-date returns for both investments are quite close, with CLIP having a 4.59% return and TBIL slightly higher at 4.73%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CLIP vs. TBIL - Expense Ratio Comparison
CLIP has a 0.07% expense ratio, which is lower than TBIL'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%.
Risk-Adjusted Performance
CLIP vs. TBIL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X 1-3 Month T-Bill ETF (CLIP) and US Treasury 3 Month Bill ETF (TBIL). 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.
Dividends
CLIP vs. TBIL - Dividend Comparison
CLIP's dividend yield for the trailing twelve months is around 5.24%, less than TBIL's 5.38% yield.
| TTM | 2023 | 2022 | |
|---|---|---|---|
CLIP Global X 1-3 Month T-Bill ETF | 5.24% | 2.75% | 0.00% |
TBIL US Treasury 3 Month Bill ETF | 5.38% | 5.00% | 1.10% |
Drawdowns
CLIP vs. TBIL - Drawdown Comparison
The maximum CLIP drawdown since its inception was -0.08%, smaller than the maximum TBIL drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for CLIP and TBIL. For additional features, visit the drawdowns tool.
Volatility
CLIP vs. TBIL - Volatility Comparison
Global X 1-3 Month T-Bill ETF (CLIP) has a higher volatility of 0.12% compared to US Treasury 3 Month Bill ETF (TBIL) at 0.09%. This indicates that CLIP's price experiences larger fluctuations and is considered to be riskier than TBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.