OBIL vs. VGSH
Compare and contrast key facts about US Treasury 12 Month Bill ETF (OBIL) and Vanguard Short-Term Treasury ETF (VGSH).
OBIL and VGSH 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. VGSH is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Treasury 1-3 Year Index. It was launched on Nov 19, 2009. Both OBIL and VGSH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
OBIL vs. VGSH - Performance Comparison
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OBIL vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OBIL US Treasury 12 Month Bill ETF | 0.63% | 4.19% | 4.94% | 4.69% | 0.53% |
VGSH Vanguard Short-Term Treasury ETF | 0.28% | 5.07% | 4.00% | 4.31% | 0.33% |
Returns By Period
In the year-to-date period, OBIL achieves a 0.63% return, which is significantly higher than VGSH's 0.28% return.
OBIL
- 1D
- 0.03%
- 1M
- 0.11%
- YTD
- 0.63%
- 6M
- 1.60%
- 1Y
- 3.85%
- 3Y*
- 4.41%
- 5Y*
- —
- 10Y*
- —
VGSH
- 1D
- 0.09%
- 1M
- -0.49%
- YTD
- 0.28%
- 6M
- 1.37%
- 1Y
- 3.75%
- 3Y*
- 3.98%
- 5Y*
- 1.79%
- 10Y*
- 1.74%
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OBIL vs. VGSH - Expense Ratio Comparison
OBIL has a 0.15% expense ratio, which is higher than VGSH's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
OBIL vs. VGSH — Risk / Return Rank
OBIL
VGSH
OBIL vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 12 Month Bill ETF (OBIL) and Vanguard Short-Term Treasury ETF (VGSH). 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.
| OBIL | VGSH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 6.69 | 2.62 | +4.07 |
Sortino ratioReturn per unit of downside risk | 14.31 | 4.21 | +10.09 |
Omega ratioGain probability vs. loss probability | 3.34 | 1.57 | +1.78 |
Calmar ratioReturn relative to maximum drawdown | 27.71 | 4.26 | +23.45 |
Martin ratioReturn relative to average drawdown | 108.97 | 16.28 | +92.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OBIL | VGSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.69 | 2.62 | +4.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.92 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 5.36 | 1.02 | +4.34 |
Correlation
The correlation between OBIL and VGSH is 0.76, 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.
Dividends
OBIL vs. VGSH - Dividend Comparison
OBIL's dividend yield for the trailing twelve months is around 4.04%, more than VGSH's 3.95% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OBIL US Treasury 12 Month Bill ETF | 4.04% | 3.83% | 4.56% | 4.92% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGSH Vanguard Short-Term Treasury ETF | 3.95% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
Drawdowns
OBIL vs. VGSH - Drawdown Comparison
The maximum OBIL drawdown since its inception was -0.33%, smaller than the maximum VGSH drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for OBIL and VGSH.
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Drawdown Indicators
| OBIL | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.33% | -5.70% | +5.37% |
Max Drawdown (1Y)Largest decline over 1 year | -0.14% | -0.88% | +0.74% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.70% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.49% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -0.60% | +0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 0.23% | -0.19% |
Volatility
OBIL vs. VGSH - Volatility Comparison
The current volatility for US Treasury 12 Month Bill ETF (OBIL) is 0.21%, while Vanguard Short-Term Treasury ETF (VGSH) has a volatility of 0.52%. This indicates that OBIL experiences smaller price fluctuations and is considered to be less risky than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OBIL | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.21% | 0.52% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 0.35% | 0.84% | -0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.58% | 1.44% | -0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.84% | 1.96% | -1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.84% | 1.57% | -0.73% |