ULVM vs. TBIL
ULVM (VictoryShares US Value Momentum ETF) and TBIL (F/m US Treasury 3 Month Bill ETF) are both exchange-traded funds - ULVM is a Momentum fund tracking the Nasdaq Victory US Value Momentum Index, while TBIL is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index. Both are passively managed. Over the past 3 years, ULVM returned 20.61%/yr vs 4.57%/yr for TBIL. Their 0.04 correlation means their historical movements had little consistent relationship. ULVM charges 0.20%/yr vs 0.15%/yr for TBIL.
Performance
ULVM vs. TBIL - Performance Comparison
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Returns By Period
In the year-to-date period, ULVM achieves a 20.05% return, which is significantly higher than TBIL's 2.11% return.
ULVM
- 1D
- -0.20%
- 1M
- 2.46%
- 6M
- 15.22%
- YTD
- 20.05%
- 1Y
- 29.82%
- 3Y*
- 20.61%
- 5Y*
- 12.55%
- 10Y*
- —
- ALL TIME*
- 11.18%
TBIL
- 1D
- 0.04%
- 1M
- 0.34%
- 6M
- 1.80%
- YTD
- 2.11%
- 1Y
- 3.91%
- 3Y*
- 4.57%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $84.47M | $81.39M | $91.49M | |
| $297.74K | $260.49K | $217.66K |
ULVM vs. TBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ULVM VictoryShares US Value Momentum ETF | 20.05% | 15.84% | 19.76% | 10.16% | 0.04% |
TBIL F/m US Treasury 3 Month Bill ETF | 2.11% | 4.19% | 5.15% | 5.12% | 1.29% |
Correlation
The correlation between ULVM and TBIL is 0.04, 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. | 0.04 |
Correlation (3Y) Balances recent behavior with more history. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 0.04 |
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Return for Risk
ULVM vs. TBIL — Risk / Return Rank
ULVM
TBIL
ULVM vs. TBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Value Momentum ETF (ULVM) and F/m 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.
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.
| ULVM | TBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -11.33 | ||
| Sortino ratioReturn per unit of downside risk | -64.90 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 22.93 | -21.44 |
| Calmar ratioReturn relative to maximum drawdown | 4.63 | 195.78 | -191.15 |
| Martin ratioReturn relative to average drawdown | 19.50 | 1,113.66 | -1,094.15 |
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Drawdowns
ULVM vs. TBIL - Drawdown Comparison
The maximum ULVM drawdown since its inception was -40.71%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for ULVM and TBIL.
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Drawdown Indicators
| ULVM | TBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.71% | -0.10% | -40.61% |
Max Drawdown (1Y)Largest decline over 1 year | -6.47% | -0.02% | -6.45% |
Max Drawdown (3Y)Largest decline over 3 years | -18.14% | -0.02% | -18.12% |
Max Drawdown (5Y)Largest decline over 5 years | -19.77% | — | — |
Current DrawdownCurrent decline from peak | -1.26% | 0.00% | -1.26% |
Average DrawdownAverage peak-to-trough decline | -5.65% | 0.00% | -5.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 0.00% | +1.53% |
Volatility
ULVM vs. TBIL - Volatility Comparison
VictoryShares US Value Momentum ETF (ULVM) has a higher volatility of 2.72% compared to F/m US Treasury 3 Month Bill ETF (TBIL) at 0.09%. This indicates that ULVM'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.
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Volatility by Period
| ULVM | TBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.72% | 0.09% | +2.63% |
Volatility (6M)Calculated over the trailing 6-month period | 8.10% | 0.20% | +7.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.81% | 0.28% | +10.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.39% | 0.32% | +15.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.73% | 0.32% | +18.41% |
ULVM vs. TBIL - Expense Ratio Comparison
ULVM has a 0.20% 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
ULVM vs. TBIL - Dividend Comparison
ULVM's dividend yield for the trailing twelve months is around 1.62%, less than TBIL's 4.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
TBIL F/m US Treasury 3 Month Bill ETF | 4.04% | 4.07% | 5.02% | 5.00% | 1.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ULVM VictoryShares US Value Momentum ETF | 1.62% | 1.81% | 1.57% | 1.94% | 1.91% | 1.36% | 1.51% | 1.88% | 1.67% | 0.38% |
Frequently Asked Questions
ULVM and TBIL have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ULVM has higher volatility (2.72%) compared to TBIL (0.09%). In terms of maximum drawdown, ULVM dropped -40.71% vs TBIL's -0.10%.
On 3-year performance, ULVM leads with 20.61% vs 4.57% 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.
Over the 3-year period, ULVM has performed better with a 20.61% return vs 4.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TBIL is cheaper with a 0.15% expense ratio, compared with 0.20% for ULVM.
TBIL has the higher dividend yield at 4.04%, compared with 1.62% for ULVM.
ULVM is categorized as Momentum, while TBIL is Ultrashort Bond. ULVM tracks Nasdaq Victory US Value Momentum Index, while TBIL tracks Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index. They also come from different issuers: Victory and F/m. Their fees differ too: 0.20% for ULVM and 0.15% for TBIL.
TBIL currently has the higher Sharpe Ratio (14.11 vs 2.78), 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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