OBIL vs. UTHY

Last updated Aug 2, 2026

OBIL (US Treasury 12 Month Bill ETF) and UTHY (US Treasury 30 Year Bond ETF) are both Government Bonds funds from US Benchmark Series - OBIL tracks the ICE BofA US 1-Year Treasury Bill Index - Benchmark TR Gross while UTHY tracks the ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, OBIL returned 4.50%/yr vs -2.15%/yr for UTHY. Their 0.43 correlation means their historical movements had little consistent relationship. Both charge a 0.15% expense ratio.

Performance

OBIL vs. UTHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Treasury 12 Month Bill ETF (OBIL) and US Treasury 30 Year Bond ETF (UTHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OBIL achieves a 1.68% return, which is significantly higher than UTHY's -3.52% return.

OBIL

• 1D: 0.00%
• 1M: 0.25%
• 6M: 1.40%
• YTD: 1.68%
• 1Y: 3.43%
• 3Y*: 4.50%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.32%

UTHY

• 1D: -0.59%
• 1M: -3.91%
• 6M: -3.34%
• YTD: -3.52%
• 1Y: -2.36%
• 3Y*: -2.15%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -3.35%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
OBIL US Treasury 12 Month Bill ETF	$2.88M	$2.35M	$2.17M
UTHY US Treasury 30 Year Bond ETF	$6.52M	$5.25M	$5.75M

OBIL vs. UTHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OBIL US Treasury 12 Month Bill ETF	1.68%	4.19%	4.94%	3.41%
UTHY US Treasury 30 Year Bond ETF	-3.52%	3.47%	-8.07%	-2.77%

Correlation

The correlation between OBIL and UTHY is 0.35, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.35
Correlation (3Y) Balances recent behavior with more history.	0.42
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023	0.43

Return for Risk

OBIL vs. UTHY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OBIL

OBIL Risk / Return Rank: 99
OBIL Sharpe Ratio Rank: 99
OBIL Sortino Ratio Rank: 99
OBIL Omega Ratio Rank: 99
OBIL Calmar Ratio Rank: 99
OBIL Martin Ratio Rank: 99

UTHY

UTHY Risk / Return Rank: 9
UTHY Sharpe Ratio Rank: 9
UTHY Sortino Ratio Rank: 8
UTHY Omega Ratio Rank: 8
UTHY Calmar Ratio Rank: 9
UTHY Martin Ratio Rank: 9

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OBIL vs. UTHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Treasury 12 Month Bill ETF (OBIL) and US Treasury 30 Year Bond ETF (UTHY). 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.

	OBIL	UTHY	Difference
Sharpe ratio: Return per unit of total volatility	6.32	-0.12	+6.44
Sortino ratio: Return per unit of downside risk	12.74	-0.11	+12.85
Omega ratio: Gain probability vs. loss probability	3.21	0.99	+2.22
Calmar ratio: Return relative to maximum drawdown	24.87	-0.14	+25.01
Martin ratio: Return relative to average drawdown	121.02	-0.31	+121.33

OBIL vs. UTHY - Sharpe Ratio Comparison

The current OBIL Sharpe Ratio is 6.32, which is higher than the UTHY Sharpe Ratio of -0.12. The chart below compares the historical Sharpe Ratios of OBIL and UTHY, 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

OBIL vs. UTHY - Drawdown Comparison

The maximum OBIL drawdown since its inception was -0.33%, smaller than the maximum UTHY drawdown of -21.86%. Use the drawdown chart below to compare losses from any high point for OBIL and UTHY.

Drawdown Indicators

	OBIL	UTHY	Difference
Max Drawdown Largest peak-to-trough decline	-0.33%	-21.86%	+21.53%
Max Drawdown (1Y) Largest decline over 1 year	-0.15%	-7.41%	+7.26%
Max Drawdown (3Y) Largest decline over 3 years	-0.21%	-14.90%	+14.69%
Current Drawdown Current decline from peak	0.00%	-14.25%	+14.25%
Average Drawdown Average peak-to-trough decline	-0.03%	-10.75%	+10.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	3.40%	-3.37%

Volatility

OBIL vs. UTHY - Volatility Comparison

The current volatility for US Treasury 12 Month Bill ETF (OBIL) is 0.19%, while US Treasury 30 Year Bond ETF (UTHY) has a volatility of 2.33%. This indicates that OBIL experiences smaller price fluctuations and is considered to be less risky than UTHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OBIL	UTHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.19%	2.33%	-2.14%
Volatility (6M) Calculated over the trailing 6-month period	0.41%	6.60%	-6.19%
Volatility (1Y) Calculated over the trailing 1-year period	0.59%	8.98%	-8.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.81%	13.46%	-12.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.81%	13.46%	-12.65%

OBIL vs. UTHY - Expense Ratio Comparison

Both OBIL and UTHY 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%.

Dividends

OBIL vs. UTHY - Dividend Comparison

OBIL's dividend yield for the trailing twelve months is around 3.93%, less than UTHY's 5.26% yield.

Position	TTM	2025	2024	2023	2022
OBIL US Treasury 12 Month Bill ETF	3.60%	3.83%	4.56%	4.92%	0.52%
UTHY US Treasury 30 Year Bond ETF	4.86%	4.53%	4.58%	2.81%	0.00%

Frequently Asked Questions

Can I hold both OBIL and UTHY in my portfolio?

OBIL and UTHY have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OBIL or UTHY?

UTHY has higher volatility (2.33%) compared to OBIL (0.19%). In terms of maximum drawdown, OBIL dropped -0.33% vs UTHY's -21.86%.

Which ETF is better, OBIL or UTHY?

On 3-year performance, OBIL leads with 4.50% vs -2.15% for UTHY. Both ETFs have the same 0.15% expense ratio. On volatility, OBIL has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OBIL or UTHY?

Over the 3-year period, OBIL has performed better with a 4.50% return vs -2.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OBIL or UTHY?

OBIL and UTHY have the same expense ratio: 0.15% per year.

Which ETF pays a higher dividend yield, OBIL or UTHY?

UTHY has the higher dividend yield at 4.86%, compared with 3.60% for OBIL.

What is the main difference between OBIL and UTHY?

OBIL tracks ICE BofA US 1-Year Treasury Bill Index - Benchmark TR Gross, while UTHY tracks ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross.

Which has better risk-adjusted returns?

OBIL currently has the higher Sharpe Ratio (6.32 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.