THY vs. TBIL

Last updated Jun 3, 2026

THY (Agility Shares Dynamic Tactical Income ETF) and TBIL (US Treasury 3 Month Bill ETF) are both exchange-traded funds - THY is a High Yield Bonds fund actively managed by Toews Corp., while TBIL is a Ultrashort Bond fund tracking the ICE BofA US Treasury Bill 3 Month Index. THY is actively managed, while TBIL is passively managed. Over the past 3 years, THY returned 5.30%/yr vs 4.64%/yr for TBIL. At a 0.07 correlation, their price movements are largely independent. THY charges 1.36%/yr vs 0.15%/yr for TBIL.

Performance

THY vs. TBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Agility Shares Dynamic Tactical Income ETF (THY) and US Treasury 3 Month Bill ETF (TBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THY achieves a 0.71% return, which is significantly lower than TBIL's 1.49% return.

THY

• 1D: 0.01%
• 1M: -0.41%
• YTD: 0.71%
• 6M: 1.07%
• 1Y: 4.77%
• 3Y*: 5.30%
• 5Y*: 1.79%
• 10Y*: —

TBIL

• 1D: 0.00%
• 1M: 0.28%
• YTD: 1.49%
• 6M: 1.80%
• 1Y: 3.93%
• 3Y*: 4.64%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

THY vs. TBIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
THY Agility Shares Dynamic Tactical Income ETF	0.71%	4.44%	5.38%	4.97%	-2.26%
TBIL US Treasury 3 Month Bill ETF	1.49%	4.19%	5.15%	5.12%	1.30%

Correlation

The correlation between THY and TBIL is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022	0.07

Return for Risk

THY vs. TBIL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

THY

THY Risk / Return Rank: 48
THY Sharpe Ratio Rank: 45
THY Sortino Ratio Rank: 49
THY Omega Ratio Rank: 46
THY Calmar Ratio Rank: 56
THY Martin Ratio Rank: 42

TBIL

TBIL Risk / Return Rank: 100
TBIL Sharpe Ratio Rank: 100
TBIL Sortino Ratio Rank: 100
TBIL Omega Ratio Rank: 100
TBIL Calmar Ratio Rank: 100
TBIL Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

THY vs. TBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Agility Shares Dynamic Tactical Income ETF (THY) and US Treasury 3 Month Bill ETF (TBIL). 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.

	THY	TBIL	Difference
Sharpe ratio Return per unit of total volatility	1.62	13.78	-12.16
Sortino ratio Return per unit of downside risk	2.42	58.40	-55.97
Omega ratio Gain probability vs. loss probability	1.30	17.16	-15.86
Calmar ratio Return relative to maximum drawdown	2.86	197.63	-194.77
Martin ratio Return relative to average drawdown	6.99	940.01	-933.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THY vs. TBIL - Sharpe Ratio Comparison

The current THY Sharpe Ratio is 1.62, which is lower than the TBIL Sharpe Ratio of 13.78. The chart below compares the historical Sharpe Ratios of THY and TBIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	THY	TBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	13.78	-12.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	14.08	-13.59

Drawdowns

THY vs. TBIL - Drawdown Comparison

The maximum THY drawdown since its inception was -8.56%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for THY and TBIL.

Drawdown Indicators

	THY	TBIL	Difference
Max Drawdown Largest peak-to-trough decline	-8.56%	-0.10%	-8.46%
Max Drawdown (1Y) Largest decline over 1 year	-1.60%	-0.02%	-1.58%
Max Drawdown (3Y) Largest decline over 3 years	-2.74%	-0.02%	-2.72%
Max Drawdown (5Y) Largest decline over 5 years	-8.56%	—	—
Current Drawdown Current decline from peak	-0.57%	0.00%	-0.57%
Average Drawdown Average peak-to-trough decline	-2.61%	-0.00%	-2.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	0.00%	+0.66%

Volatility

THY vs. TBIL - Volatility Comparison

Agility Shares Dynamic Tactical Income ETF (THY) has a higher volatility of 0.93% compared to US Treasury 3 Month Bill ETF (TBIL) at 0.09%. This indicates that THY's price experiences larger fluctuations and is considered to be riskier than TBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THY	TBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.93%	0.09%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	1.88%	0.19%	+1.69%
Volatility (1Y) Calculated over the trailing 1-year period	2.96%	0.29%	+2.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.54%	0.32%	+4.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.48%	0.32%	+4.16%

THY vs. TBIL - Expense Ratio Comparison

THY has a 1.36% expense ratio, which is higher than TBIL's 0.15% expense ratio.

Dividends

THY vs. TBIL - Dividend Comparison

THY's dividend yield for the trailing twelve months is around 5.38%, more than TBIL's 3.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
TBIL US Treasury 3 Month Bill ETF	3.82%	4.07%	5.02%	5.00%	1.10%	0.00%	0.00%
THY Agility Shares Dynamic Tactical Income ETF	5.38%	6.00%	5.09%	4.59%	2.56%	3.46%	2.53%

Frequently Asked Questions

Can I hold both THY and TBIL in my portfolio?

THY and TBIL have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THY or TBIL?

THY has higher volatility (0.93%) compared to TBIL (0.09%). In terms of maximum drawdown, THY dropped -8.56% vs TBIL's -0.10%.

Which ETF is better, THY or TBIL?

On 3-year performance, THY leads with 5.30% 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 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, THY or TBIL?

Over the 3-year period, THY has performed better with a 5.30% return vs 4.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, THY or TBIL?

TBIL is cheaper with a 0.15% expense ratio, compared with 1.36% for THY.

Which ETF pays a higher dividend yield, THY or TBIL?

THY has the higher dividend yield at 5.38%, compared with 3.82% for TBIL.

What is the main difference between THY and TBIL?

THY is categorized as High Yield Bonds, while TBIL is Ultrashort Bond. They also come from different issuers: Toews Corp. and US Benchmark Series. Their fees differ too: 1.36% for THY and 0.15% for TBIL.

Which has better risk-adjusted returns?

TBIL currently has the higher Sharpe Ratio (13.78 vs 1.62), 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.