ETN vs. TBIL
ETN (Eaton Corporation plc) is a stock, while TBIL (F/m US Treasury 3 Month Bill ETF) is Ultrashort Bond fund tracking the Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index. Over the past 3 years, ETN returned 31.86%/yr vs 4.62%/yr for TBIL. At a 0.03 correlation, their price movements are largely independent.
Performance
ETN vs. TBIL - Performance Comparison
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Returns By Period
In the year-to-date period, ETN achieves a 33.20% return, which is significantly higher than TBIL's 1.67% return.
ETN
- 1D
- 2.96%
- 1M
- 10.55%
- YTD
- 33.20%
- 6M
- 33.50%
- 1Y
- 28.81%
- 3Y*
- 31.86%
- 5Y*
- 26.81%
- 10Y*
- 23.93%
TBIL
- 1D
- 0.04%
- 1M
- 0.30%
- YTD
- 1.67%
- 6M
- 1.76%
- 1Y
- 3.91%
- 3Y*
- 4.62%
- 5Y*
- —
- 10Y*
- —
ETN vs. TBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ETN Eaton Corporation plc | 33.20% | -2.79% | 39.51% | 56.22% | 7.23% |
TBIL F/m US Treasury 3 Month Bill ETF | 1.67% | 4.19% | 5.15% | 5.12% | 1.29% |
Correlation
The correlation between ETN and TBIL is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 0.03 |
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Return for Risk
ETN vs. TBIL — Risk / Return Rank
ETN
TBIL
ETN vs. TBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Corporation plc (ETN) and F/m 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ETN | TBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -13.04 | ||
| Sortino ratioReturn per unit of downside risk | -57.43 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 17.24 | -16.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 197.88 | -196.44 |
| Martin ratioReturn relative to average drawdown | 3.10 | 939.33 | -936.24 |
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Drawdowns
ETN vs. TBIL - Drawdown Comparison
The maximum ETN drawdown since its inception was -68.95%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for ETN and TBIL.
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Drawdown Indicators
| ETN | TBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.95% | -0.10% | -68.85% |
Max Drawdown (1Y)Largest decline over 1 year | -19.14% | -0.02% | -19.12% |
Max Drawdown (3Y)Largest decline over 3 years | -34.46% | -0.02% | -34.44% |
Max Drawdown (5Y)Largest decline over 5 years | -34.46% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -44.55% | — | — |
Current DrawdownCurrent decline from peak | -2.33% | 0.00% | -2.33% |
Average DrawdownAverage peak-to-trough decline | -14.89% | -0.00% | -14.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.88% | 0.00% | +8.88% |
Volatility
ETN vs. TBIL - Volatility Comparison
Eaton Corporation plc (ETN) has a higher volatility of 12.99% compared to F/m US Treasury 3 Month Bill ETF (TBIL) at 0.07%. This indicates that ETN'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.
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Volatility by Period
| ETN | TBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.99% | 0.07% | +12.92% |
Volatility (6M)Calculated over the trailing 6-month period | 26.58% | 0.19% | +26.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.37% | 0.29% | +33.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.28% | 0.32% | +29.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.14% | 0.32% | +29.82% |
Dividends
ETN vs. TBIL - Dividend Comparison
ETN's dividend yield for the trailing twelve months is around 1.01%, less than TBIL's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETN Eaton Corporation plc | 1.01% | 1.31% | 1.13% | 1.43% | 2.06% | 1.76% | 1.88% | 3.00% | 3.85% | 3.04% | 3.40% | 4.23% |
TBIL F/m US Treasury 3 Month Bill ETF | 3.81% | 4.07% | 5.02% | 5.00% | 1.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ETN and TBIL have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETN has higher volatility (12.99%) compared to TBIL (0.07%). In terms of maximum drawdown, ETN dropped -68.95% vs TBIL's -0.10%.
TBIL currently has the higher Sharpe Ratio (13.87 vs 0.83), 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.
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