OBIL vs. SHY
Compare and contrast key facts about US Treasury 12 Month Bill ETF (OBIL) and iShares 1-3 Year Treasury Bond ETF (SHY).
OBIL and SHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OBIL is a passively managed fund by US Benchmark Series that tracks the performance of the ICE BofA US 1-Year Treasury Bill Index - Benchmark TR Gross. It was launched on Nov 14, 2022. SHY is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. 1-3 Year Treasury Bond Index. It was launched on Jul 22, 2002. Both OBIL and SHY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: OBIL or SHY.
Key characteristics
| OBIL | SHY | |
|---|---|---|
| YTD Return | 4.08% | 3.27% |
| 1Y Return | 5.35% | 5.24% |
| Sharpe Ratio | 6.90 | 2.76 |
| Sortino Ratio | 14.06 | 4.46 |
| Omega Ratio | 3.30 | 1.58 |
| Calmar Ratio | 24.91 | 2.09 |
| Martin Ratio | 105.97 | 15.04 |
| Ulcer Index | 0.05% | 0.35% |
| Daily Std Dev | 0.78% | 1.92% |
| Max Drawdown | -0.33% | -5.71% |
| Current Drawdown | -0.03% | -0.87% |
Correlation
The correlation between OBIL and SHY is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
OBIL vs. SHY - Performance Comparison
In the year-to-date period, OBIL achieves a 4.08% return, which is significantly higher than SHY's 3.27% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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OBIL vs. SHY - Expense Ratio Comparison
Both OBIL and SHY have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Risk-Adjusted Performance
OBIL vs. SHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 12 Month Bill ETF (OBIL) and iShares 1-3 Year Treasury Bond ETF (SHY). 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.
Dividends
OBIL vs. SHY - Dividend Comparison
OBIL's dividend yield for the trailing twelve months is around 4.72%, more than SHY's 3.86% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OBIL US Treasury 12 Month Bill ETF | 4.72% | 4.92% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.86% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.72% | 0.54% | 0.36% | 0.26% |
Drawdowns
OBIL vs. SHY - Drawdown Comparison
The maximum OBIL drawdown since its inception was -0.33%, smaller than the maximum SHY drawdown of -5.71%. Use the drawdown chart below to compare losses from any high point for OBIL and SHY. For additional features, visit the drawdowns tool.
Volatility
OBIL vs. SHY - Volatility Comparison
The current volatility for US Treasury 12 Month Bill ETF (OBIL) is 0.14%, while iShares 1-3 Year Treasury Bond ETF (SHY) has a volatility of 0.36%. This indicates that OBIL experiences smaller price fluctuations and is considered to be less risky than SHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.