UTHY vs. TBIL

Last updated Apr 2, 2026

Compare and contrast key facts about US Treasury 30 Year Bond ETF (UTHY) and US Treasury 3 Month Bill ETF (TBIL).

UTHY and TBIL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UTHY is a passively managed fund by US Benchmark Series that tracks the performance of the ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross. It was launched on Mar 27, 2023. 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. Both UTHY and TBIL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

UTHY vs. TBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Treasury 30 Year Bond ETF (UTHY) and US Treasury 3 Month Bill ETF (TBIL). The values are adjusted to include any dividend payments, if applicable.

UTHY vs. TBIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UTHY US Treasury 30 Year Bond ETF	0.02%	3.47%	-8.07%	-2.67%
TBIL US Treasury 3 Month Bill ETF	0.87%	4.19%	5.15%	3.95%

Returns By Period

In the year-to-date period, UTHY achieves a 0.02% return, which is significantly lower than TBIL's 0.87% return.

UTHY

• 1D: -0.22%
• 1M: -3.06%
• YTD: 0.02%
• 6M: -0.96%
• 1Y: -1.77%
• 3Y*: -3.13%
• 5Y*: —
• 10Y*: —

TBIL

• 1D: 0.00%
• 1M: 0.30%
• YTD: 0.87%
• 6M: 1.87%
• 1Y: 4.05%
• 3Y*: 4.71%
• 5Y*: —
• 10Y*: —

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

UTHY vs. TBIL - Expense Ratio Comparison

Both UTHY and TBIL 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%.

UTHY

US Treasury 30 Year Bond ETF

TBIL

US Treasury 3 Month Bill ETF

Return for Risk

UTHY vs. TBIL — Risk / Return Rank

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

UTHY

UTHY Risk / Return Rank: 9
UTHY Sharpe Ratio Rank: 9
UTHY Sortino Ratio Rank: 8
UTHY Omega Ratio Rank: 8
UTHY Calmar Ratio Rank: 10
UTHY Martin Ratio Rank: 10

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.

UTHY vs. TBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Treasury 30 Year Bond ETF (UTHY) 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.

	UTHY	TBIL	Difference
Sharpe ratio Return per unit of total volatility	-0.16	14.30	-14.46
Sortino ratio Return per unit of downside risk	-0.14	62.98	-63.13
Omega ratio Gain probability vs. loss probability	0.98	19.13	-18.15
Calmar ratio Return relative to maximum drawdown	-0.10	201.98	-202.08
Martin ratio Return relative to average drawdown	-0.20	1,006.79	-1,006.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UTHY vs. TBIL - Sharpe Ratio Comparison

The current UTHY Sharpe Ratio is -0.16, which is lower than the TBIL Sharpe Ratio of 14.30. The chart below compares the historical Sharpe Ratios of UTHY and TBIL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	UTHY	TBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.16	14.30	-14.46
Sharpe Ratio (All Time) Calculated using the full available price history	-0.18	14.15	-14.33

Correlation

The correlation between UTHY and TBIL is 0.05, 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.

Dividends

UTHY vs. TBIL - Dividend Comparison

UTHY's dividend yield for the trailing twelve months is around 4.59%, more than TBIL's 3.93% yield.

	TTM	2025	2024	2023	2022
UTHY US Treasury 30 Year Bond ETF	4.59%	4.53%	4.58%	2.81%	0.00%
TBIL US Treasury 3 Month Bill ETF	3.93%	4.07%	5.02%	5.00%	1.10%

Drawdowns

UTHY vs. TBIL - Drawdown Comparison

The maximum UTHY drawdown since its inception was -21.86%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for UTHY and TBIL.

Drawdown Indicators

	UTHY	TBIL	Difference
Max Drawdown Largest peak-to-trough decline	-21.86%	-0.10%	-21.76%
Max Drawdown (1Y) Largest decline over 1 year	-9.42%	-0.02%	-9.40%
Current Drawdown Current decline from peak	-11.11%	0.00%	-11.11%
Average Drawdown Average peak-to-trough decline	-10.67%	0.00%	-10.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.55%	0.00%	+4.55%

Volatility

UTHY vs. TBIL - Volatility Comparison

US Treasury 30 Year Bond ETF (UTHY) has a higher volatility of 3.50% compared to US Treasury 3 Month Bill ETF (TBIL) at 0.09%. This indicates that UTHY'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

	UTHY	TBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	0.09%	+3.41%
Volatility (6M) Calculated over the trailing 6-month period	6.30%	0.19%	+6.11%
Volatility (1Y) Calculated over the trailing 1-year period	11.10%	0.28%	+10.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.91%	0.32%	+13.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.91%	0.32%	+13.59%