TBIL vs. QQQ
TBIL (US Treasury 3 Month Bill ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - TBIL is a Ultrashort Bond fund tracking the ICE BofA US Treasury Bill 3 Month Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 3 years, TBIL returned 4.64%/yr vs 28.78%/yr for QQQ. At a 0.02 correlation, their price movements are largely independent. TBIL charges 0.15%/yr vs 0.18%/yr for QQQ.
Performance
TBIL vs. QQQ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TBIL achieves a 1.49% return, which is significantly lower than QQQ's 21.30% return.
TBIL
- 1D
- 0.00%
- 1M
- 0.30%
- YTD
- 1.49%
- 6M
- 1.78%
- 1Y
- 3.93%
- 3Y*
- 4.64%
- 5Y*
- —
- 10Y*
- —
QQQ
- 1D
- -0.26%
- 1M
- 10.60%
- YTD
- 21.30%
- 6M
- 19.66%
- 1Y
- 41.82%
- 3Y*
- 28.78%
- 5Y*
- 17.97%
- 10Y*
- 21.94%
TBIL vs. QQQ - 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% |
QQQ Invesco QQQ ETF | 21.30% | 20.77% | 25.58% | 54.86% | -15.67% |
Correlation
The correlation between TBIL and QQQ is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022 | 0.02 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TBIL vs. QQQ — Risk / Return Rank
TBIL
QQQ
TBIL vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 3 Month Bill ETF (TBIL) and Invesco QQQ ETF (QQQ). 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 | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +11.14 | ||
| Sortino ratioReturn per unit of downside risk | +54.95 | ||
| Omega ratioGain probability vs. loss probability | 17.16 | 1.45 | +15.71 |
| Calmar ratioReturn relative to maximum drawdown | 196.84 | 3.51 | +193.33 |
| Martin ratioReturn relative to average drawdown | 934.41 | 13.49 | +920.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| TBIL | QQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 13.78 | 2.64 | +11.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.81 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.99 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 14.07 | 0.41 | +13.66 |
Drawdowns
TBIL vs. QQQ - Drawdown Comparison
The maximum TBIL drawdown since its inception was -0.10%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for TBIL and QQQ.
Loading charts...
Drawdown Indicators
| TBIL | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.10% | -82.97% | +82.87% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -11.96% | +11.94% |
Max Drawdown (3Y)Largest decline over 3 years | -0.02% | -22.77% | +22.75% |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.12% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.26% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -32.79% | +32.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 3.11% | -3.11% |
Volatility
TBIL vs. QQQ - Volatility Comparison
The current volatility for US Treasury 3 Month Bill ETF (TBIL) is 0.08%, while Invesco QQQ ETF (QQQ) has a volatility of 4.49%. This indicates that TBIL experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TBIL | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 4.49% | -4.41% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 12.10% | -11.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.29% | 15.94% | -15.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.32% | 22.38% | -22.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.32% | 22.29% | -21.97% |
TBIL vs. QQQ - Expense Ratio Comparison
TBIL has a 0.15% expense ratio, which is lower than QQQ's 0.18% 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. QQQ - Dividend Comparison
TBIL's dividend yield for the trailing twelve months is around 3.82%, more than QQQ's 0.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQ Invesco QQQ ETF | 0.38% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
TBIL and QQQ have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQ has higher volatility (4.49%) compared to TBIL (0.08%). In terms of maximum drawdown, TBIL dropped -0.10% vs QQQ's -82.97%.
On 3-year performance, QQQ leads with 28.78% 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.
Over the 3-year period, QQQ has performed better with a 28.78% return vs 4.64%. 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 0.18% for QQQ.
TBIL has the higher dividend yield at 3.82%, compared with 0.38% for QQQ.
TBIL is categorized as Ultrashort Bond, while QQQ is Nasdaq-100. TBIL tracks ICE BofA US Treasury Bill 3 Month Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: US Benchmark Series and Invesco. Their fees differ too: 0.15% for TBIL and 0.18% for QQQ.
TBIL currently has the higher Sharpe Ratio (13.78 vs 2.64), 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.
Find the right allocation for TBIL and QQQ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer