FTSM vs. TBIL
Compare and contrast key facts about First Trust Enhanced Short Maturity ETF (FTSM) and US Treasury 3 Month Bill ETF (TBIL).
FTSM and TBIL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FTSM is an actively managed fund by First Trust. It was launched on Aug 5, 2014. 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.
Performance
FTSM vs. TBIL - Performance Comparison
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FTSM vs. TBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FTSM First Trust Enhanced Short Maturity ETF | 0.76% | 4.66% | 5.22% | 5.12% | 1.22% |
TBIL US Treasury 3 Month Bill ETF | 0.87% | 4.19% | 5.15% | 5.12% | 1.30% |
Returns By Period
In the year-to-date period, FTSM achieves a 0.76% return, which is significantly lower than TBIL's 0.87% return.
FTSM
- 1D
- 0.07%
- 1M
- 0.08%
- YTD
- 0.76%
- 6M
- 1.82%
- 1Y
- 4.19%
- 3Y*
- 4.86%
- 5Y*
- 3.33%
- 10Y*
- 2.50%
TBIL
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 0.87%
- 6M
- 1.89%
- 1Y
- 4.05%
- 3Y*
- 4.71%
- 5Y*
- —
- 10Y*
- —
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FTSM vs. TBIL - Expense Ratio Comparison
FTSM has a 0.44% expense ratio, which is higher than TBIL's 0.15% expense ratio.
Return for Risk
FTSM vs. TBIL — Risk / Return Rank
FTSM
TBIL
FTSM vs. TBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Enhanced Short Maturity ETF (FTSM) 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.
| FTSM | TBIL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 8.29 | 14.34 | -6.05 |
Sortino ratioReturn per unit of downside risk | 17.39 | 63.08 | -45.70 |
Omega ratioGain probability vs. loss probability | 3.96 | 19.16 | -15.20 |
Calmar ratioReturn relative to maximum drawdown | 28.25 | 204.06 | -175.81 |
Martin ratioReturn relative to average drawdown | 139.10 | 1,017.13 | -878.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FTSM | TBIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 8.29 | 14.34 | -6.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 6.86 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 2.84 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.92 | 14.17 | -12.24 |
Correlation
The correlation between FTSM and TBIL is 0.22, 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.
Dividends
FTSM vs. TBIL - Dividend Comparison
FTSM's dividend yield for the trailing twelve months is around 4.22%, less than TBIL's 4.28% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTSM First Trust Enhanced Short Maturity ETF | 4.22% | 4.28% | 4.91% | 4.62% | 1.62% | 0.39% | 1.20% | 2.38% | 2.14% | 1.49% | 1.03% | 0.48% |
TBIL US Treasury 3 Month Bill ETF | 4.28% | 4.07% | 5.02% | 5.00% | 1.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FTSM vs. TBIL - Drawdown Comparison
The maximum FTSM drawdown since its inception was -4.12%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for FTSM and TBIL.
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Drawdown Indicators
| FTSM | TBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.12% | -0.10% | -4.02% |
Max Drawdown (1Y)Largest decline over 1 year | -0.15% | -0.02% | -0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -0.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -4.12% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.22% | 0.00% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.00% | +0.03% |
Volatility
FTSM vs. TBIL - Volatility Comparison
First Trust Enhanced Short Maturity ETF (FTSM) has a higher volatility of 0.19% compared to US Treasury 3 Month Bill ETF (TBIL) at 0.09%. This indicates that FTSM'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
| FTSM | TBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 0.09% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 0.32% | 0.19% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.51% | 0.28% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.49% | 0.32% | +0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.88% | 0.32% | +0.56% |