CPHY vs. TBIL

Last updated Jun 5, 2026

CPHY (F/m Compoundr High Yield Bond ETF) and TBIL (US Treasury 3 Month Bill ETF) are both exchange-traded funds - CPHY is a High Yield Bonds fund tracking the Nasdaq Compoundr U.S. High Yield Bond Index, while TBIL is a Ultrashort Bond fund tracking the ICE BofA US Treasury Bill 3 Month Index. Both are passively managed. At a 0.04 correlation, their price movements are largely independent. CPHY charges 0.35%/yr vs 0.15%/yr for TBIL.

Performance

CPHY vs. TBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in F/m Compoundr High Yield Bond ETF (CPHY) and US Treasury 3 Month Bill ETF (TBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPHY achieves a 0.42% return, which is significantly lower than TBIL's 1.51% return.

CPHY

• 1D: 0.17%
• 1M: 0.38%
• YTD: 0.42%
• 6M: 0.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TBIL

• 1D: 0.02%
• 1M: 0.28%
• YTD: 1.51%
• 6M: 1.78%
• 1Y: 3.93%
• 3Y*: 4.63%
• 5Y*: —
• 10Y*: —

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

CPHY vs. TBIL - Yearly Performance Comparison

	2026 (YTD)	2025
CPHY F/m Compoundr High Yield Bond ETF	0.42%	2.31%
TBIL US Treasury 3 Month Bill ETF	1.51%	1.57%

Correlation

The correlation between CPHY and TBIL 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 (All Time) Calculated using the full available price history since Aug 13, 2025	0.04

Return for Risk

CPHY vs. TBIL — Risk / Return Rank

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

TBIL

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

CPHY vs. TBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/m Compoundr High Yield Bond ETF (CPHY) 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.

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

Sharpe Ratios by Period

	CPHY	TBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	13.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	14.08	-13.13

Drawdowns

CPHY vs. TBIL - Drawdown Comparison

The maximum CPHY drawdown since its inception was -2.51%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for CPHY and TBIL.

Drawdown Indicators

	CPHY	TBIL	Difference
Max Drawdown Largest peak-to-trough decline	-2.51%	-0.10%	-2.41%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.02%	—
Current Drawdown Current decline from peak	-0.57%	0.00%	-0.57%
Average Drawdown Average peak-to-trough decline	-0.56%	-0.00%	-0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	CPHY	TBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.19%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.58%	0.29%	+3.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.58%	0.32%	+3.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.58%	0.32%	+3.26%

CPHY vs. TBIL - Expense Ratio Comparison

CPHY has a 0.35% expense ratio, which is higher than TBIL's 0.15% expense ratio.

Dividends

CPHY vs. TBIL - Dividend Comparison

CPHY has not paid dividends to shareholders, while TBIL's dividend yield for the trailing twelve months is around 3.82%.

Position	TTM	2025	2024	2023	2022
CPHY F/m Compoundr High Yield Bond ETF	0.00%	0.00%	0.00%	0.00%	0.00%
TBIL US Treasury 3 Month Bill ETF	3.82%	4.07%	5.02%	5.00%	1.10%

Frequently Asked Questions

Can I hold both CPHY and TBIL in my portfolio?

CPHY and TBIL 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, CPHY or TBIL?

On fees, TBIL is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CPHY or TBIL?

TBIL is cheaper with a 0.15% expense ratio, compared with 0.35% for CPHY.

Which ETF pays a higher dividend yield, CPHY or TBIL?

TBIL has the higher dividend yield at 3.82%, compared with 0.00% for CPHY.

What is the main difference between CPHY and TBIL?

CPHY is categorized as High Yield Bonds, while TBIL is Ultrashort Bond. CPHY tracks Nasdaq Compoundr U.S. High Yield Bond Index, while TBIL tracks ICE BofA US Treasury Bill 3 Month Index. They also come from different issuers: F/m Investments and US Benchmark Series. Their fees differ too: 0.35% for CPHY and 0.15% for TBIL.