TBIL vs. ZTEN
TBIL (F/m US Treasury 3 Month Bill ETF) and ZTEN (F/M 10-Year Investment Grade Corporate Bond 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 ZTEN is a Long-Term Bond fund tracking the ICE 10-Year US Target Maturity Corporate Index - Benchmark TR Gross. Both are passively managed. Over the past year, TBIL returned 3.85% vs 2.26% for ZTEN. Their 0.06 correlation means their historical movements had little consistent relationship. Both charge a 0.15% expense ratio.
Performance
TBIL vs. ZTEN - Performance Comparison
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Returns By Period
In the year-to-date period, TBIL achieves a 2.11% return, which is significantly higher than ZTEN's -0.89% return.
TBIL
- 1D
- 0.04%
- 1M
- 0.28%
- 6M
- 1.80%
- YTD
- 2.11%
- 1Y
- 3.85%
- 3Y*
- 4.57%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.50%
ZTEN
- 1D
- -0.27%
- 1M
- -1.69%
- 6M
- -1.01%
- YTD
- -0.89%
- 1Y
- 2.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.19%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $84.47M | $81.39M | $91.49M | |
| $44.87K | $43.88K | $108.71K |
TBIL vs. ZTEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TBIL F/m US Treasury 3 Month Bill ETF | 2.11% | 4.19% | 0.18% |
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF | -0.89% | 9.15% | 0.29% |
Correlation
The correlation between TBIL and ZTEN is 0.05, 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. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024 | 0.06 |
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Return for Risk
TBIL vs. ZTEN — Risk / Return Rank
TBIL
ZTEN
TBIL vs. ZTEN - 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 F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN). 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 | ZTEN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +13.45 | ||
| Sortino ratioReturn per unit of downside risk | +67.86 | ||
| Omega ratioGain probability vs. loss probability | 22.93 | 1.11 | +21.81 |
| Calmar ratioReturn relative to maximum drawdown | 195.78 | 0.98 | +194.80 |
| Martin ratioReturn relative to average drawdown | 1,113.66 | 2.72 | +1,110.94 |
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Drawdowns
TBIL vs. ZTEN - Drawdown Comparison
The maximum TBIL drawdown since its inception was -0.10%, smaller than the maximum ZTEN drawdown of -3.43%. Use the drawdown chart below to compare losses from any high point for TBIL and ZTEN.
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Drawdown Indicators
| TBIL | ZTEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.10% | -3.43% | +3.33% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -3.32% | +3.30% |
Max Drawdown (3Y)Largest decline over 3 years | -0.02% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.50% | +2.50% |
Average DrawdownAverage peak-to-trough decline | 0.00% | -0.86% | +0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 1.19% | -1.19% |
Volatility
TBIL vs. ZTEN - Volatility Comparison
The current volatility for F/m US Treasury 3 Month Bill ETF (TBIL) is 0.09%, while F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN) has a volatility of 1.35%. This indicates that TBIL experiences smaller price fluctuations and is considered to be less risky than ZTEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TBIL | ZTEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 1.35% | -1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 4.01% | -3.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.28% | 4.96% | -4.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.32% | 5.72% | -5.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.32% | 5.72% | -5.40% |
TBIL vs. ZTEN - Expense Ratio Comparison
Both TBIL and ZTEN 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%.
Dividends
TBIL vs. ZTEN - Dividend Comparison
TBIL's dividend yield for the trailing twelve months is around 4.04%, less than ZTEN's 5.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
TBIL F/m US Treasury 3 Month Bill ETF | 3.69% | 4.07% | 5.02% | 5.00% | 1.10% |
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF | 5.13% | 5.16% | 0.44% | 0.00% | 0.00% |
Frequently Asked Questions
TBIL and ZTEN have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZTEN has higher volatility (1.35%) compared to TBIL (0.09%). In terms of maximum drawdown, TBIL dropped -0.10% vs ZTEN's -3.43%.
On 1-year performance, TBIL leads with 3.85% vs 2.26% for ZTEN. Both ETFs have the same 0.15% expense ratio. 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 1-year period, TBIL has performed better with a 3.85% return vs 2.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TBIL and ZTEN have the same expense ratio: 0.15% per year.
ZTEN has the higher dividend yield at 5.13%, compared with 3.69% for TBIL.
TBIL is categorized as Ultrashort Bond, while ZTEN is Long-Term Bond. TBIL tracks Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index, while ZTEN tracks ICE 10-Year US Target Maturity Corporate Index - Benchmark TR Gross.
TBIL currently has the higher Sharpe Ratio (14.11 vs 0.65), 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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