SJB vs. VBIL
SJB (ProShares Short High Yield) and VBIL (Vanguard 0-3 Month Treasury Bill ETF) are both exchange-traded funds - SJB is a Inverse Bonds fund tracking the iBoxx $ Liquid High Yield Index (-100%), 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, SJB returned -0.07% vs 3.91% for VBIL. At a 0.02 correlation, their price movements are largely independent. SJB charges 0.95%/yr vs 0.07%/yr for VBIL.
Performance
SJB vs. VBIL - Performance Comparison
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Returns By Period
In the year-to-date period, SJB achieves a 0.74% return, which is significantly lower than VBIL's 1.71% return.
SJB
- 1D
- 0.13%
- 1M
- -0.16%
- YTD
- 0.74%
- 6M
- 0.66%
- 1Y
- -0.07%
- 3Y*
- -2.22%
- 5Y*
- -0.36%
- 10Y*
- -3.86%
VBIL
- 1D
- 0.01%
- 1M
- 0.30%
- YTD
- 1.71%
- 6M
- 1.81%
- 1Y
- 3.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SJB vs. VBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SJB ProShares Short High Yield | 0.74% | -1.05% |
VBIL Vanguard 0-3 Month Treasury Bill ETF | 1.71% | 3.73% |
Correlation
The correlation between SJB and VBIL is 0.03, 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 | 0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2025 | 0.02 |
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Return for Risk
SJB vs. VBIL — Risk / Return Rank
SJB
VBIL
SJB vs. VBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short High Yield (SJB) 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.
| SJB | VBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.09 | ||
| Sortino ratioReturn per unit of downside risk | -111.81 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 39.66 | -38.66 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 296.41 | -296.44 |
| Martin ratioReturn relative to average drawdown | -0.05 | 1,960.46 | -1,960.51 |
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Drawdowns
SJB vs. VBIL - Drawdown Comparison
The maximum SJB drawdown since its inception was -58.06%, which is greater than VBIL's maximum drawdown of -0.09%. Use the drawdown chart below to compare losses from any high point for SJB and VBIL.
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Drawdown Indicators
| SJB | VBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.06% | -0.09% | -57.97% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -0.01% | -2.73% |
Max Drawdown (3Y)Largest decline over 3 years | -10.54% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.30% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.57% | — | — |
Current DrawdownCurrent decline from peak | -57.40% | 0.00% | -57.40% |
Average DrawdownAverage peak-to-trough decline | -42.52% | -0.00% | -42.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 0.00% | +1.30% |
Volatility
SJB vs. VBIL - Volatility Comparison
ProShares Short High Yield (SJB) has a higher volatility of 1.06% compared to Vanguard 0-3 Month Treasury Bill ETF (VBIL) at 0.05%. This indicates that SJB'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.
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Volatility by Period
| SJB | VBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 0.05% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | 0.16% | +2.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.88% | 0.22% | +3.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.52% | 0.30% | +7.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.50% | 0.30% | +8.20% |
SJB vs. VBIL - Expense Ratio Comparison
SJB has a 0.95% expense ratio, which is higher than VBIL's 0.07% expense ratio.
Dividends
SJB vs. VBIL - Dividend Comparison
SJB's dividend yield for the trailing twelve months is around 3.43%, less than VBIL's 3.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SJB ProShares Short High Yield | 3.43% | 3.86% | 5.86% | 4.10% | 0.46% | 0.00% | 0.07% | 1.27% | 0.71% |
VBIL Vanguard 0-3 Month Treasury Bill ETF | 3.65% | 3.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SJB and VBIL have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SJB has higher volatility (1.06%) compared to VBIL (0.05%). In terms of maximum drawdown, SJB dropped -58.06% vs VBIL's -0.09%.
On 1-year performance, VBIL leads with 3.91% vs -0.07% for SJB. 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.
Over the 1-year period, VBIL has performed better with a 3.91% return vs -0.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VBIL is cheaper with a 0.07% expense ratio, compared with 0.95% for SJB.
VBIL has the higher dividend yield at 3.65%, compared with 3.43% for SJB.
SJB is categorized as Inverse Bonds, while VBIL is Ultrashort Bond. SJB tracks iBoxx $ Liquid High Yield Index (-100%), while VBIL tracks Bloomberg US Treasury Bills 0-3 Months Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.95% for SJB and 0.07% for VBIL.
VBIL currently has the higher Sharpe Ratio (18.07 vs -0.02), 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.
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