DUSB vs. TBIL

Last updated Jun 4, 2026

DUSB (Dimensional Ultrashort Fixed Income ETF) and TBIL (US Treasury 3 Month Bill ETF) are both Ultrashort Bond funds. DUSB is actively managed, while TBIL is passively managed. Over the past year, DUSB returned 4.31% vs 3.93% for TBIL. At a 0.05 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.

Performance

DUSB vs. TBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Ultrashort Fixed Income ETF (DUSB) 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, DUSB achieves a 1.68% return, which is significantly higher than TBIL's 1.49% return.

DUSB

• 1D: 0.02%
• 1M: 0.34%
• YTD: 1.68%
• 6M: 1.97%
• 1Y: 4.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TBIL

• 1D: 0.00%
• 1M: 0.30%
• YTD: 1.49%
• 6M: 1.78%
• 1Y: 3.93%
• 3Y*: 4.64%
• 5Y*: —
• 10Y*: —

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

DUSB vs. TBIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DUSB Dimensional Ultrashort Fixed Income ETF	1.68%	4.53%	5.60%	1.79%
TBIL US Treasury 3 Month Bill ETF	1.49%	4.19%	5.15%	1.38%

Correlation

The correlation between DUSB and TBIL is 0.06, 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	0.06
Correlation (All Time) Calculated using the full available price history since Sep 28, 2023	0.05

Return for Risk

DUSB vs. TBIL — Risk / Return Rank

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

DUSB

DUSB Risk / Return Rank: 99
DUSB Sharpe Ratio Rank: 99
DUSB Sortino Ratio Rank: 100
DUSB Omega Ratio Rank: 99
DUSB Calmar Ratio Rank: 99
DUSB Martin Ratio Rank: 100

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.

DUSB vs. TBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Ultrashort Fixed Income ETF (DUSB) 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.

	DUSB	TBIL	Difference
Sharpe ratio: Return per unit of total volatility	10.10	13.78	-3.68
Sortino ratio: Return per unit of downside risk	24.10	58.40	-34.30
Omega ratio: Gain probability vs. loss probability	4.87	17.16	-12.29
Calmar ratio: Return relative to maximum drawdown	55.00	196.84	-141.84
Martin ratio: Return relative to average drawdown	332.80	934.41	-601.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DUSB vs. TBIL - Sharpe Ratio Comparison

The current DUSB Sharpe Ratio is 10.10, which is comparable to the TBIL Sharpe Ratio of 13.78. The chart below compares the historical Sharpe Ratios of DUSB and TBIL, 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

	DUSB	TBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	10.10	13.78	-3.68
Sharpe Ratio (All Time) Calculated using the full available price history	9.88	14.07	-4.19

Drawdowns

DUSB vs. TBIL - Drawdown Comparison

The maximum DUSB drawdown since its inception was -0.29%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for DUSB and TBIL.

Drawdown Indicators

	DUSB	TBIL	Difference
Max Drawdown Largest peak-to-trough decline	-0.29%	-0.10%	-0.19%
Max Drawdown (1Y) Largest decline over 1 year	-0.08%	-0.02%	-0.06%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.02%	—
Current Drawdown Current decline from peak	-0.02%	0.00%	-0.02%
Average Drawdown Average peak-to-trough decline	-0.01%	-0.00%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	0.00%	+0.01%

Volatility

DUSB vs. TBIL - Volatility Comparison

Dimensional Ultrashort Fixed Income ETF (DUSB) has a higher volatility of 0.13% compared to US Treasury 3 Month Bill ETF (TBIL) at 0.08%. This indicates that DUSB'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.

Volatility by Period

	DUSB	TBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.13%	0.08%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	0.30%	0.19%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	0.43%	0.29%	+0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.52%	0.32%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.52%	0.32%	+0.20%

DUSB vs. TBIL - Expense Ratio Comparison

Both DUSB and TBIL have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

DUSB vs. TBIL - Dividend Comparison

DUSB's dividend yield for the trailing twelve months is around 4.06%, more than TBIL's 3.82% yield.

Position	TTM	2025	2024	2023	2022
DUSB Dimensional Ultrashort Fixed Income ETF	4.06%	4.32%	4.92%	1.23%	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 DUSB and TBIL in my portfolio?

DUSB and TBIL have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DUSB or TBIL?

DUSB has higher volatility (0.13%) compared to TBIL (0.08%). In terms of maximum drawdown, DUSB dropped -0.29% vs TBIL's -0.10%.

Which ETF is better, DUSB or TBIL?

On 1-year performance, DUSB leads with 4.31% vs 3.93% for TBIL. Both ETFs have the same 0.15% expense ratio. 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, DUSB or TBIL?

Over the 1-year period, DUSB has performed better with a 4.31% return vs 3.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DUSB or TBIL?

DUSB and TBIL have the same expense ratio: 0.15% per year.

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

DUSB has the higher dividend yield at 4.06%, compared with 3.82% for TBIL.

What is the main difference between DUSB and TBIL?

They also come from different issuers: Dimensional and US Benchmark Series.

Which has better risk-adjusted returns?

TBIL currently has the higher Sharpe Ratio (13.78 vs 10.10), 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.