LIMI vs. VBIL

Last updated Jun 23, 2026

LIMI (Themes Lithium & Battery Metal Miners ETF) and VBIL (Vanguard 0-3 Month Treasury Bill ETF) are both exchange-traded funds - LIMI is a Lithium & Battery Metals fund tracking the BITA Global Lithium and Battery Metals Select 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, LIMI returned 144.15% vs 3.91% for VBIL. At a correlation of -0.10, they often move in opposite directions. LIMI charges 0.35%/yr vs 0.07%/yr for VBIL.

Performance

LIMI vs. VBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Lithium & Battery Metal Miners ETF (LIMI) and Vanguard 0-3 Month Treasury Bill ETF (VBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LIMI achieves a 14.44% return, which is significantly higher than VBIL's 1.70% return.

LIMI

• 1D: -0.76%
• 1M: -5.92%
• YTD: 14.44%
• 6M: 18.30%
• 1Y: 144.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VBIL

• 1D: 0.03%
• 1M: 0.29%
• YTD: 1.70%
• 6M: 1.81%
• 1Y: 3.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

LIMI vs. VBIL - Yearly Performance Comparison

	2026 (YTD)	2025
LIMI Themes Lithium & Battery Metal Miners ETF	14.44%	89.56%
VBIL Vanguard 0-3 Month Treasury Bill ETF	1.70%	3.73%

Correlation

The correlation between LIMI and VBIL is -0.08, 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	-0.08
Correlation (All Time) Calculated using the full available price history since Feb 11, 2025	-0.10

Return for Risk

LIMI vs. VBIL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LIMI

LIMI Risk / Return Rank: 86
LIMI Sharpe Ratio Rank: 93
LIMI Sortino Ratio Rank: 82
LIMI Omega Ratio Rank: 77
LIMI Calmar Ratio Rank: 93
LIMI Martin Ratio Rank: 86

VBIL

VBIL Risk / Return Rank: 100
VBIL Sharpe Ratio Rank: 100
VBIL Sortino Ratio Rank: 100
VBIL Omega Ratio Rank: 100
VBIL Calmar Ratio Rank: 100
VBIL Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LIMI vs. VBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Lithium & Battery Metal Miners ETF (LIMI) 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.

	LIMI	VBIL	Difference
Sharpe ratio: Return per unit of total volatility	3.25	18.07	-14.82
Sortino ratio: Return per unit of downside risk	3.48	111.81	-108.33
Omega ratio: Gain probability vs. loss probability	1.44	39.66	-38.22
Calmar ratio: Return relative to maximum drawdown	6.31	296.41	-290.11
Martin ratio: Return relative to average drawdown	17.46	1,809.33	-1,791.87

LIMI vs. VBIL - Sharpe Ratio Comparison

The current LIMI Sharpe Ratio is 3.25, which is lower than the VBIL Sharpe Ratio of 18.07. The chart below compares the historical Sharpe Ratios of LIMI and VBIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LIMI vs. VBIL - Drawdown Comparison

The maximum LIMI drawdown since its inception was -43.77%, which is greater than VBIL's maximum drawdown of -0.09%. Use the drawdown chart below to compare losses from any high point for LIMI and VBIL.

Drawdown Indicators

	LIMI	VBIL	Difference
Max Drawdown Largest peak-to-trough decline	-43.77%	-0.09%	-43.68%
Max Drawdown (1Y) Largest decline over 1 year	-23.00%	-0.01%	-22.99%
Current Drawdown Current decline from peak	-15.24%	0.00%	-15.24%
Average Drawdown Average peak-to-trough decline	-13.09%	-0.00%	-13.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.29%	0.00%	+8.29%

Volatility

LIMI vs. VBIL - Volatility Comparison

Themes Lithium & Battery Metal Miners ETF (LIMI) has a higher volatility of 11.79% compared to Vanguard 0-3 Month Treasury Bill ETF (VBIL) at 0.05%. This indicates that LIMI'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.

Volatility by Period

	LIMI	VBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.79%	0.05%	+11.74%
Volatility (6M) Calculated over the trailing 6-month period	30.32%	0.16%	+30.16%
Volatility (1Y) Calculated over the trailing 1-year period	44.67%	0.22%	+44.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.63%	0.30%	+41.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.63%	0.30%	+41.33%

LIMI vs. VBIL - Expense Ratio Comparison

LIMI has a 0.35% expense ratio, which is higher than VBIL's 0.07% expense ratio.

Dividends

LIMI vs. VBIL - Dividend Comparison

LIMI's dividend yield for the trailing twelve months is around 0.47%, less than VBIL's 3.65% yield.

Position	TTM	2025	2024
LIMI Themes Lithium & Battery Metal Miners ETF	0.47%	0.54%	8.14%
VBIL Vanguard 0-3 Month Treasury Bill ETF	3.65%	3.12%	0.00%

Frequently Asked Questions

Can I hold both LIMI and VBIL in my portfolio?

LIMI and VBIL have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LIMI or VBIL?

LIMI has higher volatility (11.79%) compared to VBIL (0.05%). In terms of maximum drawdown, LIMI dropped -43.77% vs VBIL's -0.09%.

Which ETF is better, LIMI or VBIL?

On 1-year performance, LIMI leads with 144.15% vs 3.91% 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.

Which ETF has performed better, LIMI or VBIL?

Over the 1-year period, LIMI has performed better with a 144.15% return vs 3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LIMI or VBIL?

VBIL is cheaper with a 0.07% expense ratio, compared with 0.35% for LIMI.

Which ETF pays a higher dividend yield, LIMI or VBIL?

VBIL has the higher dividend yield at 3.65%, compared with 0.47% for LIMI.

What is the main difference between LIMI and VBIL?

LIMI is categorized as Lithium & Battery Metals, while VBIL is Ultrashort Bond. LIMI tracks BITA Global Lithium and Battery Metals Select Index, while VBIL tracks Bloomberg US Treasury Bills 0-3 Months Index. They also come from different issuers: Themes and Vanguard. Their fees differ too: 0.35% for LIMI and 0.07% for VBIL.

Which has better risk-adjusted returns?

VBIL currently has the higher Sharpe Ratio (18.07 vs 3.25), 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.