MARA vs. TBIL

Last updated Jun 4, 2026

MARA (MARA Holdings, Inc.) is a stock, while TBIL (US Treasury 3 Month Bill ETF) is Ultrashort Bond fund tracking the ICE BofA US Treasury Bill 3 Month Index. Over the past 3 years, MARA returned 11.65%/yr vs 4.64%/yr for TBIL. At a 0.00 correlation, their price movements are largely independent.

Performance

MARA vs. TBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MARA Holdings, Inc. (MARA) and US Treasury 3 Month Bill ETF (TBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MARA achieves a 55.46% return, which is significantly higher than TBIL's 1.49% return.

MARA

• 1D: -2.24%
• 1M: 18.01%
• YTD: 55.46%
• 6M: 11.95%
• 1Y: -8.94%
• 3Y*: 11.65%
• 5Y*: -10.53%
• 10Y*: -10.91%

TBIL

• 1D: 0.00%
• 1M: 0.30%
• YTD: 1.49%
• 6M: 1.78%
• 1Y: 3.93%
• 3Y*: 4.64%
• 5Y*: —
• 10Y*: —

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

MARA vs. TBIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MARA MARA Holdings, Inc.	55.46%	-46.45%	-28.61%	586.84%	-75.76%
TBIL US Treasury 3 Month Bill ETF	1.49%	4.19%	5.15%	5.12%	1.30%

Correlation

The correlation between MARA and TBIL 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 (3Y) Calculated over the trailing 3-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022	0.00

Return for Risk

MARA vs. TBIL — Risk / Return Rank

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

MARA

MARA Risk / Return Rank: 37
MARA Sharpe Ratio Rank: 36
MARA Sortino Ratio Rank: 39
MARA Omega Ratio Rank: 38
MARA Calmar Ratio Rank: 36
MARA Martin Ratio Rank: 36

TBIL

TBIL Risk / Return Rank: 100
TBIL Sharpe Ratio Rank: 100
TBIL Sortino Ratio Rank: 100
TBIL Omega Ratio Rank: 100
TBIL Calmar Ratio Rank: 100
TBIL 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.

MARA vs. TBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MARA Holdings, Inc. (MARA) 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.

	MARA	TBIL	Difference
Sharpe ratio: Return per unit of total volatility	-0.12	13.78	-13.90
Sortino ratio: Return per unit of downside risk	0.39	58.40	-58.00
Omega ratio: Gain probability vs. loss probability	1.05	17.16	-16.11
Calmar ratio: Return relative to maximum drawdown	-0.13	196.84	-196.97
Martin ratio: Return relative to average drawdown	-0.21	934.41	-934.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MARA vs. TBIL - Sharpe Ratio Comparison

The current MARA Sharpe Ratio is -0.12, which is lower than the TBIL Sharpe Ratio of 13.78. The chart below compares the historical Sharpe Ratios of MARA and TBIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MARA	TBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.12	13.78	-13.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	14.07	-14.16

Drawdowns

MARA vs. TBIL - Drawdown Comparison

The maximum MARA drawdown since its inception was -99.74%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for MARA and TBIL.

Drawdown Indicators

	MARA	TBIL	Difference
Max Drawdown Largest peak-to-trough decline	-99.74%	-0.10%	-99.64%
Max Drawdown (1Y) Largest decline over 1 year	-70.53%	-0.02%	-70.51%
Max Drawdown (3Y) Largest decline over 3 years	-78.34%	-0.02%	-78.32%
Max Drawdown (5Y) Largest decline over 5 years	-95.87%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.20%	—	—
Current Drawdown Current decline from peak	-90.98%	0.00%	-90.98%
Average Drawdown Average peak-to-trough decline	-78.00%	-0.00%	-78.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.03%	0.00%	+42.03%

Volatility

MARA vs. TBIL - Volatility Comparison

MARA Holdings, Inc. (MARA) has a higher volatility of 16.33% compared to US Treasury 3 Month Bill ETF (TBIL) at 0.08%. This indicates that MARA'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.

Volatility by Period

	MARA	TBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.33%	0.08%	+16.25%
Volatility (6M) Calculated over the trailing 6-month period	58.00%	0.19%	+57.81%
Volatility (1Y) Calculated over the trailing 1-year period	77.65%	0.29%	+77.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	105.79%	0.32%	+105.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.06%	0.32%	+143.74%

Dividends

MARA vs. TBIL - Dividend Comparison

MARA has not paid dividends to shareholders, while TBIL's dividend yield for the trailing twelve months is around 3.82%.

Position	TTM	2025	2024	2023	2022
MARA MARA Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%
TBIL US Treasury 3 Month Bill ETF	3.82%	4.07%	5.02%	5.00%	1.10%

Frequently Asked Questions

Can I hold both MARA and TBIL in my portfolio?

MARA and TBIL 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.

Which is riskier, MARA or TBIL?

MARA has higher volatility (16.33%) compared to TBIL (0.08%). In terms of maximum drawdown, MARA dropped -99.74% vs TBIL's -0.10%.

Which has better risk-adjusted returns?

TBIL currently has the higher Sharpe Ratio (13.78 vs -0.12), 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.