IYR vs. VBIL
IYR (iShares U.S. Real Estate ETF) and VBIL (Vanguard 0-3 Month Treasury Bill ETF) are both exchange-traded funds - IYR is a REIT fund tracking the Dow Jones U.S. Real Estate Index, while VBIL is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bills 0-3 Months Index. Both are passively managed. Over the past year, IYR returned 11.55% vs 3.93% for VBIL. At a correlation of -0.01, they often move in opposite directions. IYR charges 0.42%/yr vs 0.07%/yr for VBIL.
Performance
IYR vs. VBIL - Performance Comparison
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Returns By Period
In the year-to-date period, IYR achieves a 10.64% return, which is significantly higher than VBIL's 1.62% return.
IYR
- 1D
- -0.75%
- 1M
- 3.79%
- YTD
- 10.64%
- 6M
- 10.25%
- 1Y
- 11.55%
- 3Y*
- 9.07%
- 5Y*
- 2.62%
- 10Y*
- 5.75%
VBIL
- 1D
- 0.03%
- 1M
- 0.28%
- YTD
- 1.62%
- 6M
- 1.80%
- 1Y
- 3.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IYR vs. VBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IYR iShares U.S. Real Estate ETF | 10.64% | 0.14% |
VBIL Vanguard 0-3 Month Treasury Bill ETF | 1.62% | 3.73% |
Correlation
The correlation between IYR and VBIL is -0.04, 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 | -0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2025 | -0.01 |
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Return for Risk
IYR vs. VBIL — Risk / Return Rank
IYR
VBIL
IYR vs. VBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Real Estate ETF (IYR) and Vanguard 0-3 Month Treasury Bill ETF (VBIL). 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.
| IYR | VBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -14.21 | ||
| Sortino ratioReturn per unit of downside risk | -37.79 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 21.06 | -19.91 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 42.54 | -41.18 |
| Martin ratioReturn relative to average drawdown | 4.24 | 531.57 | -527.33 |
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Drawdowns
IYR vs. VBIL - Drawdown Comparison
The maximum IYR drawdown since its inception was -74.13%, which is greater than VBIL's maximum drawdown of -0.09%. Use the drawdown chart below to compare losses from any high point for IYR and VBIL.
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Drawdown Indicators
| IYR | VBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.13% | -0.09% | -74.04% |
Max Drawdown (1Y)Largest decline over 1 year | -8.54% | -0.09% | -8.45% |
Max Drawdown (3Y)Largest decline over 3 years | -17.52% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -33.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.32% | — | — |
Current DrawdownCurrent decline from peak | -0.75% | 0.00% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -12.89% | -0.00% | -12.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 0.01% | +2.72% |
Volatility
IYR vs. VBIL - Volatility Comparison
iShares U.S. Real Estate ETF (IYR) has a higher volatility of 4.82% compared to Vanguard 0-3 Month Treasury Bill ETF (VBIL) at 0.05%. This indicates that IYR's price experiences larger fluctuations and is considered to be riskier than VBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYR | VBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.82% | 0.05% | +4.77% |
Volatility (6M)Calculated over the trailing 6-month period | 9.90% | 0.16% | +9.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.60% | 0.26% | +13.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.76% | 0.30% | +18.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.34% | 0.30% | +20.04% |
IYR vs. VBIL - Expense Ratio Comparison
IYR has a 0.42% expense ratio, which is higher than VBIL's 0.07% expense ratio.
Dividends
IYR vs. VBIL - Dividend Comparison
IYR's dividend yield for the trailing twelve months is around 2.67%, less than VBIL's 3.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYR iShares U.S. Real Estate ETF | 2.67% | 2.48% | 2.57% | 2.75% | 2.92% | 2.06% | 2.58% | 3.05% | 3.53% | 3.73% | 4.41% | 3.92% |
VBIL Vanguard 0-3 Month Treasury Bill ETF | 3.65% | 3.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IYR and VBIL have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYR has higher volatility (4.82%) compared to VBIL (0.05%). In terms of maximum drawdown, IYR dropped -74.13% vs VBIL's -0.09%.
On 1-year performance, IYR leads with 11.55% vs 3.93% for VBIL. On fees, VBIL is cheaper at 0.07% per year. On volatility, VBIL has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IYR has performed better with a 11.55% return vs 3.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VBIL is cheaper with a 0.07% expense ratio, compared with 0.42% for IYR.
VBIL has the higher dividend yield at 3.65%, compared with 2.67% for IYR.
IYR is categorized as REIT, while VBIL is Ultrashort Bond. IYR tracks Dow Jones U.S. Real Estate Index, while VBIL tracks Bloomberg US Treasury Bills 0-3 Months Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.42% for IYR and 0.07% for VBIL.
VBIL currently has the higher Sharpe Ratio (15.06 vs 0.86), 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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