TBIL vs. COM

Last updated Jun 4, 2026

TBIL (US Treasury 3 Month Bill ETF) and COM (Direxion Auspice Broad Commodity Strategy ETF) are both exchange-traded funds - TBIL is a Ultrashort Bond fund tracking the ICE BofA US Treasury Bill 3 Month Index, while COM is a Commodities fund tracking the Auspice Broad Commodity ER Index. Both are passively managed. Over the past 3 years, TBIL returned 4.64%/yr vs 7.16%/yr for COM. At a correlation of -0.01, they often move in opposite directions. TBIL charges 0.15%/yr vs 0.70%/yr for COM.

Performance

TBIL vs. COM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Treasury 3 Month Bill ETF (TBIL) and Direxion Auspice Broad Commodity Strategy ETF (COM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TBIL achieves a 1.49% return, which is significantly lower than COM's 14.96% return.

TBIL

• 1D: 0.00%
• 1M: 0.30%
• YTD: 1.49%
• 6M: 1.78%
• 1Y: 3.93%
• 3Y*: 4.64%
• 5Y*: —
• 10Y*: —

COM

• 1D: -0.76%
• 1M: -2.14%
• YTD: 14.96%
• 6M: 14.36%
• 1Y: 22.41%
• 3Y*: 7.16%
• 5Y*: 8.28%
• 10Y*: —

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

TBIL vs. COM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TBIL US Treasury 3 Month Bill ETF	1.49%	4.19%	5.15%	5.12%	1.30%
COM Direxion Auspice Broad Commodity Strategy ETF	14.96%	7.72%	5.81%	-2.09%	0.78%

Correlation

The correlation between TBIL and COM is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022	-0.01

The correlation between TBIL and COM shifts across timeframes, from -0.16 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TBIL vs. COM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TBIL

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

COM

COM Risk / Return Rank: 70
COM Sharpe Ratio Rank: 64
COM Sortino Ratio Rank: 60
COM Omega Ratio Rank: 67
COM Calmar Ratio Rank: 87
COM Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TBIL vs. COM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Treasury 3 Month Bill ETF (TBIL) and Direxion Auspice Broad Commodity Strategy ETF (COM). 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.

	TBIL	COM	Difference
Sharpe ratio: Return per unit of total volatility	13.78	2.16	+11.62
Sortino ratio: Return per unit of downside risk	58.40	2.89	+55.51
Omega ratio: Gain probability vs. loss probability	17.16	1.41	+15.75
Calmar ratio: Return relative to maximum drawdown	196.84	4.95	+191.89
Martin ratio: Return relative to average drawdown	934.41	14.37	+920.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TBIL vs. COM - Sharpe Ratio Comparison

The current TBIL Sharpe Ratio is 13.78, which is higher than the COM Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of TBIL and COM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TBIL	COM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	13.78	2.16	+11.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	14.07	0.72	+13.34

Drawdowns

TBIL vs. COM - Drawdown Comparison

The maximum TBIL drawdown since its inception was -0.10%, smaller than the maximum COM drawdown of -15.95%. Use the drawdown chart below to compare losses from any high point for TBIL and COM.

Drawdown Indicators

	TBIL	COM	Difference
Max Drawdown Largest peak-to-trough decline	-0.10%	-15.95%	+15.85%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	-4.55%	+4.53%
Max Drawdown (3Y) Largest decline over 3 years	-0.02%	-8.50%	+8.48%
Max Drawdown (5Y) Largest decline over 5 years	—	-14.02%	—
Current Drawdown Current decline from peak	0.00%	-4.55%	+4.55%
Average Drawdown Average peak-to-trough decline	-0.00%	-6.28%	+6.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	1.56%	-1.56%

Volatility

TBIL vs. COM - Volatility Comparison

The current volatility for US Treasury 3 Month Bill ETF (TBIL) is 0.08%, while Direxion Auspice Broad Commodity Strategy ETF (COM) has a volatility of 4.04%. This indicates that TBIL experiences smaller price fluctuations and is considered to be less risky than COM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TBIL	COM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.08%	4.04%	-3.96%
Volatility (6M) Calculated over the trailing 6-month period	0.19%	8.60%	-8.41%
Volatility (1Y) Calculated over the trailing 1-year period	0.29%	10.41%	-10.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.32%	9.60%	-9.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.32%	9.77%	-9.45%

TBIL vs. COM - Expense Ratio Comparison

TBIL has a 0.15% expense ratio, which is lower than COM's 0.70% expense ratio.

Dividends

TBIL vs. COM - Dividend Comparison

TBIL's dividend yield for the trailing twelve months is around 3.82%, more than COM's 2.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
COM Direxion Auspice Broad Commodity Strategy ETF	2.46%	2.99%	3.88%	3.80%	8.59%	10.32%	0.13%	1.09%	2.36%	0.09%
TBIL US Treasury 3 Month Bill ETF	3.82%	4.07%	5.02%	5.00%	1.10%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TBIL and COM in my portfolio?

TBIL and COM have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TBIL or COM?

COM has higher volatility (4.04%) compared to TBIL (0.08%). In terms of maximum drawdown, TBIL dropped -0.10% vs COM's -15.95%.

Which ETF is better, TBIL or COM?

On 3-year performance, COM leads with 7.16% vs 4.64% for TBIL. On fees, TBIL is cheaper at 0.15% per year. On volatility, TBIL has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TBIL or COM?

Over the 3-year period, COM has performed better with a 7.16% return vs 4.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TBIL or COM?

TBIL is cheaper with a 0.15% expense ratio, compared with 0.70% for COM.

Which ETF pays a higher dividend yield, TBIL or COM?

TBIL has the higher dividend yield at 3.82%, compared with 2.46% for COM.

What is the main difference between TBIL and COM?

TBIL is categorized as Ultrashort Bond, while COM is Commodities. TBIL tracks ICE BofA US Treasury Bill 3 Month Index, while COM tracks Auspice Broad Commodity ER Index. They also come from different issuers: US Benchmark Series and Direxion. Their fees differ too: 0.15% for TBIL and 0.70% for COM.

Which has better risk-adjusted returns?

TBIL currently has the higher Sharpe Ratio (13.78 vs 2.16), 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.