TUSI vs. TBIL

Last updated Jun 4, 2026

TUSI (Touchstone Ultra Short Income ETF) and TBIL (US Treasury 3 Month Bill ETF) are both Ultrashort Bond funds. TUSI is actively managed, while TBIL is passively managed. Over the past 3 years, TUSI returned 5.78%/yr vs 4.64%/yr for TBIL. At a 0.09 correlation, their price movements are largely independent. TUSI charges 0.25%/yr vs 0.15%/yr for TBIL.

Performance

TUSI vs. TBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Ultra Short Income ETF (TUSI) 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, TUSI achieves a 1.58% return, which is significantly higher than TBIL's 1.49% return.

TUSI

• 1D: -0.06%
• 1M: 0.40%
• YTD: 1.58%
• 6M: 1.89%
• 1Y: 4.67%
• 3Y*: 5.78%
• 5Y*: —
• 10Y*: —

TBIL

• 1D: 0.00%
• 1M: 0.30%
• YTD: 1.49%
• 6M: 1.78%
• 1Y: 3.93%
• 3Y*: 4.64%
• 5Y*: —
• 10Y*: —

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

TUSI vs. TBIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TUSI Touchstone Ultra Short Income ETF	1.58%	5.09%	6.51%	6.53%	0.91%
TBIL US Treasury 3 Month Bill ETF	1.49%	4.19%	5.15%	5.12%	1.30%

Correlation

The correlation between TUSI and TBIL is 0.06, 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	0.06
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	0.09

Return for Risk

TUSI vs. TBIL — Risk / Return Rank

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

TUSI

TUSI Risk / Return Rank: 98
TUSI Sharpe Ratio Rank: 97
TUSI Sortino Ratio Rank: 98
TUSI Omega Ratio Rank: 98
TUSI Calmar Ratio Rank: 99
TUSI Martin Ratio Rank: 98

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.

TUSI vs. TBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Ultra Short Income ETF (TUSI) 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.

	TUSI	TBIL	Difference
Sharpe ratio Return per unit of total volatility	4.52	13.78	-9.26
Sortino ratio Return per unit of downside risk	7.73	58.40	-50.67
Omega ratio Gain probability vs. loss probability	2.14	17.16	-15.02
Calmar ratio Return relative to maximum drawdown	19.89	196.84	-176.95
Martin ratio Return relative to average drawdown	84.37	934.41	-850.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TUSI vs. TBIL - Sharpe Ratio Comparison

The current TUSI Sharpe Ratio is 4.52, which is lower than the TBIL Sharpe Ratio of 13.78. The chart below compares the historical Sharpe Ratios of TUSI 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

	TUSI	TBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.52	13.78	-9.26
Sharpe Ratio (All Time) Calculated using the full available price history	5.60	14.07	-8.47

Drawdowns

TUSI vs. TBIL - Drawdown Comparison

The maximum TUSI drawdown since its inception was -0.40%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for TUSI and TBIL.

Drawdown Indicators

	TUSI	TBIL	Difference
Max Drawdown Largest peak-to-trough decline	-0.40%	-0.10%	-0.30%
Max Drawdown (1Y) Largest decline over 1 year	-0.24%	-0.02%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	-0.39%	-0.02%	-0.37%
Current Drawdown Current decline from peak	-0.08%	0.00%	-0.08%
Average Drawdown Average peak-to-trough decline	-0.04%	-0.00%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	0.00%	+0.06%

Volatility

TUSI vs. TBIL - Volatility Comparison

Touchstone Ultra Short Income ETF (TUSI) has a higher volatility of 0.38% compared to US Treasury 3 Month Bill ETF (TBIL) at 0.08%. This indicates that TUSI'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

	TUSI	TBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.38%	0.08%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	0.66%	0.19%	+0.47%
Volatility (1Y) Calculated over the trailing 1-year period	1.04%	0.29%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.97%	0.32%	+0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.97%	0.32%	+0.65%

TUSI vs. TBIL - Expense Ratio Comparison

TUSI has a 0.25% expense ratio, which is higher than TBIL's 0.15% 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%.

Dividends

TUSI vs. TBIL - Dividend Comparison

TUSI's dividend yield for the trailing twelve months is around 4.57%, more than TBIL's 3.82% yield.

Position	TTM	2025	2024	2023	2022
TBIL US Treasury 3 Month Bill ETF	3.82%	4.07%	5.02%	5.00%	1.10%
TUSI Touchstone Ultra Short Income ETF	4.57%	4.85%	5.50%	5.41%	1.38%

Frequently Asked Questions

Can I hold both TUSI and TBIL in my portfolio?

TUSI and TBIL have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TUSI or TBIL?

TUSI has higher volatility (0.38%) compared to TBIL (0.08%). In terms of maximum drawdown, TUSI dropped -0.40% vs TBIL's -0.10%.

Which ETF is better, TUSI or TBIL?

On 3-year performance, TUSI leads with 5.78% 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.

Which ETF has performed better, TUSI or TBIL?

Over the 3-year period, TUSI has performed better with a 5.78% return vs 4.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TUSI or TBIL?

TBIL is cheaper with a 0.15% expense ratio, compared with 0.25% for TUSI.

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

TUSI has the higher dividend yield at 4.57%, compared with 3.82% for TBIL.

What is the main difference between TUSI and TBIL?

They also come from different issuers: Touchstone and US Benchmark Series. Their fees differ too: 0.25% for TUSI and 0.15% for TBIL.

Which has better risk-adjusted returns?

TBIL currently has the higher Sharpe Ratio (13.78 vs 4.52), 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.