GBIL vs. FTSM
GBIL (Goldman Sachs Access Treasury 0-1 Year ETF) and FTSM (First Trust Enhanced Short Maturity ETF) are both exchange-traded funds - GBIL is a Government Bonds fund tracking the FTSE US Treasury 0-1 Year Composite Select Index, while FTSM is a Ultrashort Bond fund actively managed by First Trust. GBIL is passively managed, while FTSM is actively managed. Over the past 5 years, GBIL returned 3.33%/yr vs 3.46%/yr for FTSM. At a 0.25 correlation, their price movements are largely independent. GBIL charges 0.12%/yr vs 0.44%/yr for FTSM.
Performance
GBIL vs. FTSM - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with GBIL at 1.47% and FTSM at 1.47%.
GBIL
- 1D
- 0.02%
- 1M
- 0.27%
- YTD
- 1.47%
- 6M
- 1.74%
- 1Y
- 3.90%
- 3Y*
- 4.62%
- 5Y*
- 3.33%
- 10Y*
- —
FTSM
- 1D
- 0.01%
- 1M
- 0.25%
- YTD
- 1.47%
- 6M
- 1.81%
- 1Y
- 4.17%
- 3Y*
- 4.84%
- 5Y*
- 3.46%
- 10Y*
- 2.54%
GBIL vs. FTSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBIL Goldman Sachs Access Treasury 0-1 Year ETF | 1.47% | 4.12% | 5.24% | 4.91% | 1.05% | -0.08% | 0.79% | 2.31% | 1.78% | 0.69% |
FTSM First Trust Enhanced Short Maturity ETF | 1.47% | 4.66% | 5.22% | 5.12% | 1.02% | -0.01% | 1.12% | 2.82% | 1.94% | 1.57% |
Correlation
The correlation between GBIL and FTSM is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2016 | 0.25 |
The correlation between GBIL and FTSM shifts across timeframes, from 0.25 (all time) to 0.44 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GBIL vs. FTSM — Risk / Return Rank
GBIL
FTSM
GBIL vs. FTSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) and First Trust Enhanced Short Maturity ETF (FTSM). 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.
| GBIL | FTSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.24 | ||
| Sortino ratioReturn per unit of downside risk | +85.74 | ||
| Omega ratioGain probability vs. loss probability | 43.59 | 4.42 | +39.17 |
| Calmar ratioReturn relative to maximum drawdown | 195.91 | 35.88 | +160.03 |
| Martin ratioReturn relative to average drawdown | 1,660.91 | 178.84 | +1,482.07 |
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
| GBIL | FTSM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 17.06 | 8.82 | +8.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 5.79 | 7.03 | -1.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 2.90 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 4.88 | 1.96 | +2.92 |
Drawdowns
GBIL vs. FTSM - Drawdown Comparison
The maximum GBIL drawdown since its inception was -0.76%, smaller than the maximum FTSM drawdown of -4.12%. Use the drawdown chart below to compare losses from any high point for GBIL and FTSM.
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Drawdown Indicators
| GBIL | FTSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.76% | -4.12% | +3.36% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -0.12% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -0.76% | -0.15% | -0.61% |
Max Drawdown (5Y)Largest decline over 5 years | -0.76% | -0.65% | -0.11% |
Max Drawdown (10Y)Largest decline over 10 years | — | -4.12% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.02% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -0.04% | -0.22% | +0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.02% | -0.02% |
Volatility
GBIL vs. FTSM - Volatility Comparison
The current volatility for Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) is 0.04%, while First Trust Enhanced Short Maturity ETF (FTSM) has a volatility of 0.14%. This indicates that GBIL experiences smaller price fluctuations and is considered to be less risky than FTSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBIL | FTSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.04% | 0.14% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 0.14% | 0.35% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.23% | 0.48% | -0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 0.49% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.47% | 0.88% | -0.41% |
GBIL vs. FTSM - Expense Ratio Comparison
GBIL has a 0.12% expense ratio, which is lower than FTSM's 0.44% expense ratio.
Dividends
GBIL vs. FTSM - Dividend Comparison
GBIL's dividend yield for the trailing twelve months is around 3.74%, less than FTSM's 4.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTSM First Trust Enhanced Short Maturity ETF | 4.16% | 4.28% | 4.91% | 4.62% | 1.62% | 0.39% | 1.20% | 2.38% | 2.14% | 1.49% | 1.03% | 0.48% |
GBIL Goldman Sachs Access Treasury 0-1 Year ETF | 3.74% | 4.02% | 4.93% | 4.77% | 1.37% | 0.00% | 0.81% | 2.20% | 1.70% | 0.74% | 0.11% | 0.00% |
Frequently Asked Questions
GBIL and FTSM have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FTSM has higher volatility (0.14%) compared to GBIL (0.04%). In terms of maximum drawdown, GBIL dropped -0.76% vs FTSM's -4.12%.
On 5-year performance, FTSM leads with 3.46% vs 3.33% for GBIL. On fees, GBIL is cheaper at 0.12% per year. On volatility, GBIL has been the lower-risk option at 0.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FTSM has performed better with a 3.46% return vs 3.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GBIL is cheaper with a 0.12% expense ratio, compared with 0.44% for FTSM.
FTSM has the higher dividend yield at 4.16%, compared with 3.74% for GBIL.
GBIL is categorized as Government Bonds, while FTSM is Ultrashort Bond. They also come from different issuers: Goldman Sachs and First Trust. Their fees differ too: 0.12% for GBIL and 0.44% for FTSM.
GBIL currently has the higher Sharpe Ratio (17.06 vs 8.82), 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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