TBIL vs. VGSH
Compare and contrast key facts about US Treasury 3 Month Bill ETF (TBIL) and Vanguard Short-Term Treasury ETF (VGSH).
TBIL and VGSH 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. VGSH is a passively managed fund by Vanguard that tracks the performance of the Barclays U.S. 1-3 Year Government Float Adjusted Index. It was launched on Nov 19, 2009. Both TBIL and VGSH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TBIL or VGSH.
Key characteristics
| TBIL | VGSH | |
|---|---|---|
| YTD Return | 4.73% | 3.38% |
| 1Y Return | 5.47% | 5.00% |
| Sharpe Ratio | 14.58 | 2.83 |
| Sortino Ratio | 79.35 | 4.59 |
| Omega Ratio | 24.15 | 1.61 |
| Calmar Ratio | 271.14 | 2.47 |
| Martin Ratio | 1,240.29 | 15.27 |
| Ulcer Index | 0.00% | 0.35% |
| Daily Std Dev | 0.38% | 1.91% |
| Max Drawdown | -0.10% | -5.70% |
| Current Drawdown | 0.00% | -0.82% |
Correlation
The correlation between TBIL and VGSH is 0.21, 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.
Performance
TBIL vs. VGSH - Performance Comparison
In the year-to-date period, TBIL achieves a 4.73% return, which is significantly higher than VGSH's 3.38% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TBIL vs. VGSH - Expense Ratio Comparison
TBIL has a 0.15% expense ratio, which is higher than VGSH's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
TBIL vs. VGSH - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 3 Month Bill ETF (TBIL) and Vanguard Short-Term Treasury ETF (VGSH). 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.
Dividends
TBIL vs. VGSH - Dividend Comparison
TBIL's dividend yield for the trailing twelve months is around 5.38%, more than VGSH's 4.15% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TBIL US Treasury 3 Month Bill ETF | 5.38% | 5.00% | 1.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGSH Vanguard Short-Term Treasury ETF | 4.15% | 3.32% | 1.15% | 0.66% | 1.75% | 2.28% | 1.79% | 1.10% | 0.84% | 0.71% | 0.46% | 0.34% |
Drawdowns
TBIL vs. VGSH - Drawdown Comparison
The maximum TBIL drawdown since its inception was -0.10%, smaller than the maximum VGSH drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for TBIL and VGSH. For additional features, visit the drawdowns tool.
Volatility
TBIL vs. VGSH - Volatility Comparison
The current volatility for US Treasury 3 Month Bill ETF (TBIL) is 0.09%, while Vanguard Short-Term Treasury ETF (VGSH) has a volatility of 0.41%. This indicates that TBIL experiences smaller price fluctuations and is considered to be less risky than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.