SPTU vs. VBIL

Last updated Aug 2, 2026

SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) and VBIL (Vanguard 0-3 Month Treasury Bill ETF) are both Ultrashort Bond funds - SPTU tracks the ICE BofA US Treasury Bill Index while VBIL tracks the Bloomberg US Treasury Bills 0-3 Months Index. Both are passively managed. Their 0.28 correlation means their historical movements had little consistent relationship. SPTU charges 0.05%/yr vs 0.07%/yr for VBIL.

Performance

SPTU vs. VBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU) and Vanguard 0-3 Month Treasury Bill ETF (VBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SPTU having a 2.11% return and VBIL slightly higher at 2.12%.

SPTU

• 1D: 0.04%
• 1M: 0.32%
• 6M: 1.82%
• YTD: 2.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

VBIL

• 1D: 0.04%
• 1M: 0.28%
• 6M: 1.84%
• YTD: 2.12%
• 1Y: 3.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.01%

*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)
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	$29.52K	$31.42K	$66.34K
VBIL Vanguard 0-3 Month Treasury Bill ETF	$162.29M	$169.08M	$188.29M

SPTU vs. VBIL - Yearly Performance Comparison

	2026 (YTD)	2025
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.11%	0.87%
VBIL Vanguard 0-3 Month Treasury Bill ETF	2.12%	0.92%

Correlation

The correlation between SPTU and VBIL is 0.28, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 8, 2025	0.28

Return for Risk

SPTU vs. VBIL — Risk / Return Rank

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

SPTU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

VBIL

VBIL Risk / Return Rank: 100
VBIL Sharpe Ratio Rank: 100
VBIL Sortino Ratio Rank: 100
VBIL Omega Ratio Rank: 100
VBIL Calmar Ratio Rank: 100
VBIL Martin Ratio Rank: 100

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.

SPTU vs. VBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU) 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.

	SPTU	VBIL	Difference
Sharpe ratio: Return per unit of total volatility	—	18.00	—
Sortino ratio: Return per unit of downside risk	—	120.14	—
Omega ratio: Gain probability vs. loss probability	—	45.23	—
Calmar ratio: Return relative to maximum drawdown	—	293.89	—
Martin ratio: Return relative to average drawdown	—	1,943.77	—

Drawdowns

SPTU vs. VBIL - Drawdown Comparison

The maximum SPTU drawdown since its inception was -0.04%, smaller than the maximum VBIL drawdown of -0.09%. Use the drawdown chart below to compare losses from any high point for SPTU and VBIL.

Drawdown Indicators

	SPTU	VBIL	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-0.09%	+0.05%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.01%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	0.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	SPTU	VBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.16%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.32%	0.22%	+0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.32%	0.29%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.32%	0.29%	+0.03%

SPTU vs. VBIL - Expense Ratio Comparison

SPTU has a 0.05% expense ratio, which is lower than VBIL's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPTU vs. VBIL - Dividend Comparison

SPTU's dividend yield for the trailing twelve months is around 2.65%, less than VBIL's 3.60% yield.

Position	TTM	2025
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.65%	0.89%
VBIL Vanguard 0-3 Month Treasury Bill ETF	3.28%	3.12%

Frequently Asked Questions

Can I hold both SPTU and VBIL in my portfolio?

SPTU and VBIL have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPTU or VBIL?

On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPTU or VBIL?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.07% for VBIL.

Which ETF pays a higher dividend yield, SPTU or VBIL?

VBIL has the higher dividend yield at 3.28%, compared with 2.65% for SPTU.

What is the main difference between SPTU and VBIL?

SPTU tracks ICE BofA US Treasury Bill Index, while VBIL tracks Bloomberg US Treasury Bills 0-3 Months Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.05% for SPTU and 0.07% for VBIL.