TBIL vs. UTEN
Compare and contrast key facts about US Treasury 3 Month Bill ETF (TBIL) and US Treasury 10 Year Note ETF (UTEN).
TBIL and UTEN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TBIL is a passively managed fund by US Benchmark Series that tracks the performance of the ICE BofA US Treasury Bill 3 Month Index. It was launched on Aug 8, 2022. UTEN is a passively managed fund by US Benchmark Series that tracks the performance of the ICE BofA Current 10 Year US Treasury Index - Benchmark TR Gross. It was launched on Aug 8, 2022. Both TBIL and UTEN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
TBIL vs. UTEN - Performance Comparison
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TBIL vs. UTEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TBIL US Treasury 3 Month Bill ETF | 0.87% | 4.19% | 5.15% | 5.12% | 1.30% |
UTEN US Treasury 10 Year Note ETF | -0.06% | 7.82% | -1.67% | 3.18% | -7.79% |
Returns By Period
In the year-to-date period, TBIL achieves a 0.87% return, which is significantly higher than UTEN's -0.06% return.
TBIL
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 0.87%
- 6M
- 1.89%
- 1Y
- 4.05%
- 3Y*
- 4.71%
- 5Y*
- —
- 10Y*
- —
UTEN
- 1D
- 0.27%
- 1M
- -2.43%
- YTD
- -0.06%
- 6M
- 0.86%
- 1Y
- 3.78%
- 3Y*
- 1.65%
- 5Y*
- —
- 10Y*
- —
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TBIL vs. UTEN - Expense Ratio Comparison
Both TBIL and UTEN have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Return for Risk
TBIL vs. UTEN — Risk / Return Rank
TBIL
UTEN
TBIL vs. UTEN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 3 Month Bill ETF (TBIL) and US Treasury 10 Year Note ETF (UTEN). 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 | UTEN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 14.34 | 0.64 | +13.69 |
Sortino ratioReturn per unit of downside risk | 63.08 | 0.95 | +62.14 |
Omega ratioGain probability vs. loss probability | 19.16 | 1.11 | +18.05 |
Calmar ratioReturn relative to maximum drawdown | 204.06 | 1.04 | +203.02 |
Martin ratioReturn relative to average drawdown | 1,017.13 | 2.63 | +1,014.51 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TBIL | UTEN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 14.34 | 0.64 | +13.69 |
Sharpe Ratio (All Time)Calculated using the full available price history | 14.17 | 0.03 | +14.14 |
Correlation
The correlation between TBIL and UTEN is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
TBIL vs. UTEN - Dividend Comparison
TBIL's dividend yield for the trailing twelve months is around 4.28%, less than UTEN's 4.44% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TBIL US Treasury 3 Month Bill ETF | 4.28% | 4.07% | 5.02% | 5.00% | 1.10% |
UTEN US Treasury 10 Year Note ETF | 4.44% | 4.11% | 4.13% | 3.62% | 1.39% |
Drawdowns
TBIL vs. UTEN - Drawdown Comparison
The maximum TBIL drawdown since its inception was -0.10%, smaller than the maximum UTEN drawdown of -13.36%. Use the drawdown chart below to compare losses from any high point for TBIL and UTEN.
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Drawdown Indicators
| TBIL | UTEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.10% | -13.36% | +13.26% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -3.87% | +3.85% |
Current DrawdownCurrent decline from peak | 0.00% | -2.43% | +2.43% |
Average DrawdownAverage peak-to-trough decline | 0.00% | -4.93% | +4.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 1.53% | -1.53% |
Volatility
TBIL vs. UTEN - Volatility Comparison
The current volatility for US Treasury 3 Month Bill ETF (TBIL) is 0.09%, while US Treasury 10 Year Note ETF (UTEN) has a volatility of 2.09%. This indicates that TBIL experiences smaller price fluctuations and is considered to be less risky than UTEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TBIL | UTEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 2.09% | -2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 3.54% | -3.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.28% | 5.89% | -5.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.32% | 8.17% | -7.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.32% | 8.17% | -7.85% |