HSBC vs. TBIL
HSBC (HSBC Holdings 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, HSBC returned 45.60%/yr vs 4.60%/yr for TBIL. At a correlation of -0.01, they often move in opposite directions.
Performance
HSBC vs. TBIL - Performance Comparison
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Returns By Period
In the year-to-date period, HSBC achieves a 25.62% return, which is significantly higher than TBIL's 1.69% return.
HSBC
- 1D
- -0.95%
- 1M
- 3.88%
- YTD
- 25.62%
- 6M
- 24.65%
- 1Y
- 70.17%
- 3Y*
- 45.60%
- 5Y*
- 34.49%
- 10Y*
- 18.55%
TBIL
- 1D
- 0.02%
- 1M
- 0.28%
- YTD
- 1.69%
- 6M
- 1.76%
- 1Y
- 3.91%
- 3Y*
- 4.60%
- 5Y*
- —
- 10Y*
- —
HSBC vs. TBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HSBC HSBC Holdings plc | 25.62% | 67.91% | 34.48% | 39.45% | -4.10% |
TBIL F/m US Treasury 3 Month Bill ETF | 1.69% | 4.19% | 5.15% | 5.12% | 1.29% |
Correlation
The correlation between HSBC 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 (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | -0.01 |
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Return for Risk
HSBC vs. TBIL — Risk / Return Rank
HSBC
TBIL
HSBC vs. TBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Holdings plc (HSBC) 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.
| HSBC | TBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -11.14 | ||
| Sortino ratioReturn per unit of downside risk | -54.77 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 17.08 | -15.63 |
| Calmar ratioReturn relative to maximum drawdown | 4.33 | 195.79 | -191.46 |
| Martin ratioReturn relative to average drawdown | 15.29 | 929.44 | -914.16 |
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Drawdowns
HSBC vs. TBIL - Drawdown Comparison
The maximum HSBC drawdown since its inception was -74.47%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for HSBC and TBIL.
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Drawdown Indicators
| HSBC | TBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.47% | -0.10% | -74.37% |
Max Drawdown (1Y)Largest decline over 1 year | -16.28% | -0.02% | -16.26% |
Max Drawdown (3Y)Largest decline over 3 years | -21.83% | -0.02% | -21.81% |
Max Drawdown (5Y)Largest decline over 5 years | -31.80% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -62.26% | — | — |
Current DrawdownCurrent decline from peak | -0.95% | 0.00% | -0.95% |
Average DrawdownAverage peak-to-trough decline | -24.07% | -0.00% | -24.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.60% | 0.00% | +4.60% |
Volatility
HSBC vs. TBIL - Volatility Comparison
HSBC Holdings plc (HSBC) has a higher volatility of 9.08% compared to F/m US Treasury 3 Month Bill ETF (TBIL) at 0.06%. This indicates that HSBC'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
| HSBC | TBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.08% | 0.06% | +9.02% |
Volatility (6M)Calculated over the trailing 6-month period | 22.24% | 0.19% | +22.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.99% | 0.29% | +26.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.94% | 0.32% | +25.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.43% | 0.32% | +25.11% |
Dividends
HSBC vs. TBIL - Dividend Comparison
HSBC's dividend yield for the trailing twelve months is around 3.92%, more than TBIL's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSBC HSBC Holdings plc | 3.92% | 4.19% | 8.29% | 6.54% | 4.33% | 3.65% | 4.05% | 6.52% | 6.20% | 4.94% | 6.35% | 6.33% |
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
HSBC 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.
HSBC has higher volatility (9.08%) compared to TBIL (0.06%). In terms of maximum drawdown, HSBC dropped -74.47% vs TBIL's -0.10%.
TBIL currently has the higher Sharpe Ratio (13.76 vs 2.61), 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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