TBIL vs. IUS
TBIL (F/m US Treasury 3 Month Bill ETF) and IUS (Invesco RAFI Strategic US ETF) are both exchange-traded funds - TBIL is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index, while IUS is a Large Cap Blend Equities fund tracking the Invesco Strategic US Index. Both are passively managed. Over the past 3 years, TBIL returned 4.57%/yr vs 19.28%/yr for IUS. Their 0.04 correlation means their historical movements had little consistent relationship. TBIL charges 0.15%/yr vs 0.19%/yr for IUS.
Performance
TBIL vs. IUS - Performance Comparison
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Returns By Period
In the year-to-date period, TBIL achieves a 2.11% return, which is significantly lower than IUS's 19.71% return.
TBIL
- 1D
- 0.04%
- 1M
- 0.34%
- 6M
- 1.80%
- YTD
- 2.11%
- 1Y
- 3.91%
- 3Y*
- 4.57%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.50%
IUS
- 1D
- 0.43%
- 1M
- 3.03%
- 6M
- 15.22%
- YTD
- 19.71%
- 1Y
- 32.92%
- 3Y*
- 19.28%
- 5Y*
- 14.35%
- 10Y*
- —
- ALL TIME*
- 15.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.30M | $3.35M | $3.41M | |
| $84.47M | $81.39M | $91.49M |
TBIL vs. IUS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TBIL F/m US Treasury 3 Month Bill ETF | 2.11% | 4.19% | 5.15% | 5.12% | 1.29% |
IUS Invesco RAFI Strategic US ETF | 19.71% | 16.94% | 16.51% | 20.79% | -3.39% |
Correlation
The correlation between TBIL and IUS is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.07 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 0.04 |
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Return for Risk
TBIL vs. IUS — Risk / Return Rank
TBIL
IUS
TBIL vs. IUS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/m US Treasury 3 Month Bill ETF (TBIL) and Invesco RAFI Strategic US ETF (IUS). 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.
| TBIL | IUS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +11.00 | ||
| Sortino ratioReturn per unit of downside risk | +64.60 | ||
| Omega ratioGain probability vs. loss probability | 22.93 | 1.57 | +21.36 |
| Calmar ratioReturn relative to maximum drawdown | 195.78 | 5.38 | +190.40 |
| Martin ratioReturn relative to average drawdown | 1,113.66 | 22.90 | +1,090.75 |
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Drawdowns
TBIL vs. IUS - Drawdown Comparison
The maximum TBIL drawdown since its inception was -0.10%, smaller than the maximum IUS drawdown of -34.67%. Use the drawdown chart below to compare losses from any high point for TBIL and IUS.
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Drawdown Indicators
| TBIL | IUS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.10% | -34.67% | +34.57% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -6.15% | +6.13% |
Max Drawdown (3Y)Largest decline over 3 years | -0.02% | -15.61% | +15.59% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.72% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.20% | +0.20% |
Average DrawdownAverage peak-to-trough decline | 0.00% | -3.80% | +3.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 1.44% | -1.44% |
Volatility
TBIL vs. IUS - Volatility Comparison
The current volatility for F/m US Treasury 3 Month Bill ETF (TBIL) is 0.09%, while Invesco RAFI Strategic US ETF (IUS) has a volatility of 2.51%. This indicates that TBIL experiences smaller price fluctuations and is considered to be less risky than IUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TBIL | IUS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 2.51% | -2.42% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 7.88% | -7.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.28% | 10.67% | -10.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.32% | 14.99% | -14.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.32% | 17.92% | -17.60% |
TBIL vs. IUS - Expense Ratio Comparison
TBIL has a 0.15% expense ratio, which is lower than IUS's 0.19% 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
TBIL vs. IUS - Dividend Comparison
TBIL's dividend yield for the trailing twelve months is around 4.04%, more than IUS's 1.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IUS Invesco RAFI Strategic US ETF | 1.24% | 1.48% | 1.52% | 1.72% | 1.78% | 1.46% | 1.74% | 1.77% | 0.73% |
TBIL F/m US Treasury 3 Month Bill ETF | 4.04% | 4.07% | 5.02% | 5.00% | 1.10% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TBIL and IUS have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IUS has higher volatility (2.51%) compared to TBIL (0.09%). In terms of maximum drawdown, TBIL dropped -0.10% vs IUS's -34.67%.
On 3-year performance, IUS leads with 19.28% vs 4.57% for TBIL. On fees, TBIL is cheaper at 0.15% per year. On volatility, TBIL has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IUS has performed better with a 19.28% return vs 4.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TBIL is cheaper with a 0.15% expense ratio, compared with 0.19% for IUS.
TBIL has the higher dividend yield at 4.04%, compared with 1.24% for IUS.
TBIL is categorized as Ultrashort Bond, while IUS is Large Cap Blend Equities. TBIL tracks Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index, while IUS tracks Invesco Strategic US Index. They also come from different issuers: F/m and Invesco. Their fees differ too: 0.15% for TBIL and 0.19% for IUS.
TBIL currently has the higher Sharpe Ratio (14.11 vs 3.11), 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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