VBIL vs. ASHR

Last updated Aug 2, 2026

VBIL (Vanguard 0-3 Month Treasury Bill ETF) and ASHR (Xtrackers Harvest CSI 300 China A-Shares ETF) are both exchange-traded funds - VBIL is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bills 0-3 Months Index, while ASHR is a China Equities fund tracking the CSI 300 Index. Both are passively managed. Over the past year, VBIL returned 3.83% vs 23.78% for ASHR. Their -0.13 correlation means they have often moved in opposite directions in the past. VBIL charges 0.07%/yr vs 0.65%/yr for ASHR.

Performance

VBIL vs. ASHR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard 0-3 Month Treasury Bill ETF (VBIL) and Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VBIL achieves a 2.12% return, which is significantly lower than ASHR's 4.11% return.

VBIL

• 1D: 0.04%
• 1M: 0.28%
• 6M: 1.84%
• YTD: 2.12%
• 1Y: 3.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.01%

ASHR

• 1D: -0.20%
• 1M: -2.73%
• 6M: 2.27%
• YTD: 4.11%
• 1Y: 23.78%
• 3Y*: 8.75%
• 5Y*: -0.35%
• 10Y*: 4.89%
• ALL TIME*: 5.78%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF	$123.30M	$155.65M	$161.34M
VBIL Vanguard 0-3 Month Treasury Bill ETF	$162.29M	$169.08M	$188.29M

VBIL vs. ASHR - Yearly Performance Comparison

	2026 (YTD)	2025
VBIL Vanguard 0-3 Month Treasury Bill ETF	2.12%	3.73%
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF	4.11%	26.36%

Correlation

The correlation between VBIL and ASHR is -0.15, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.15
Correlation (All Time) Calculated using the full available price history since Feb 11, 2025	-0.13

Return for Risk

VBIL vs. ASHR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VBIL

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

ASHR

ASHR Risk / Return Rank: 54
ASHR Sharpe Ratio Rank: 48
ASHR Sortino Ratio Rank: 48
ASHR Omega Ratio Rank: 47
ASHR Calmar Ratio Rank: 69
ASHR Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VBIL vs. ASHR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard 0-3 Month Treasury Bill ETF (VBIL) and Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR). 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.

	VBIL	ASHR	Difference
Sharpe ratio: Return per unit of total volatility	18.00	1.18	+16.82
Sortino ratio: Return per unit of downside risk	120.14	1.73	+118.41
Omega ratio: Gain probability vs. loss probability	45.23	1.21	+44.02
Calmar ratio: Return relative to maximum drawdown	293.89	2.38	+291.51
Martin ratio: Return relative to average drawdown	1,943.77	6.99	+1,936.79

VBIL vs. ASHR - Sharpe Ratio Comparison

The current VBIL Sharpe Ratio is 18.00, which is higher than the ASHR Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of VBIL and ASHR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VBIL vs. ASHR - Drawdown Comparison

The maximum VBIL drawdown since its inception was -0.09%, smaller than the maximum ASHR drawdown of -51.30%. Use the drawdown chart below to compare losses from any high point for VBIL and ASHR.

Drawdown Indicators

	VBIL	ASHR	Difference
Max Drawdown Largest peak-to-trough decline	-0.09%	-51.30%	+51.21%
Max Drawdown (1Y) Largest decline over 1 year	-0.01%	-9.84%	+9.83%
Max Drawdown (3Y) Largest decline over 3 years	—	-33.12%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-44.10%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.30%	—
Current Drawdown Current decline from peak	0.00%	-20.23%	+20.23%
Average Drawdown Average peak-to-trough decline	0.00%	-29.03%	+29.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	3.34%	-3.34%

Volatility

VBIL vs. ASHR - Volatility Comparison

The current volatility for Vanguard 0-3 Month Treasury Bill ETF (VBIL) is 0.07%, while Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) has a volatility of 8.68%. This indicates that VBIL experiences smaller price fluctuations and is considered to be less risky than ASHR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBIL	ASHR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.07%	8.68%	-8.61%
Volatility (6M) Calculated over the trailing 6-month period	0.16%	15.50%	-15.34%
Volatility (1Y) Calculated over the trailing 1-year period	0.22%	19.86%	-19.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.29%	23.98%	-23.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.29%	24.20%	-23.91%

VBIL vs. ASHR - Expense Ratio Comparison

VBIL has a 0.07% expense ratio, which is lower than ASHR's 0.65% expense ratio.

Dividends

VBIL vs. ASHR - Dividend Comparison

VBIL's dividend yield for the trailing twelve months is around 3.60%, more than ASHR's 2.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF	2.22%	2.31%	1.13%	2.48%	1.13%	0.88%	0.81%	0.98%	1.32%	0.84%	0.73%	30.13%
VBIL Vanguard 0-3 Month Treasury Bill ETF	3.28%	3.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VBIL and ASHR in my portfolio?

VBIL and ASHR 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, VBIL or ASHR?

ASHR has higher volatility (8.68%) compared to VBIL (0.07%). In terms of maximum drawdown, VBIL dropped -0.09% vs ASHR's -51.30%.

Which ETF is better, VBIL or ASHR?

On 1-year performance, ASHR leads with 23.78% vs 3.83% for VBIL. On fees, VBIL is cheaper at 0.07% per year. On volatility, VBIL has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VBIL or ASHR?

Over the 1-year period, ASHR has performed better with a 23.78% return vs 3.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VBIL or ASHR?

VBIL is cheaper with a 0.07% expense ratio, compared with 0.65% for ASHR.

Which ETF pays a higher dividend yield, VBIL or ASHR?

VBIL has the higher dividend yield at 3.28%, compared with 2.22% for ASHR.

What is the main difference between VBIL and ASHR?

VBIL is categorized as Ultrashort Bond, while ASHR is China Equities. VBIL tracks Bloomberg US Treasury Bills 0-3 Months Index, while ASHR tracks CSI 300 Index. They also come from different issuers: Vanguard and DWS. Their fees differ too: 0.07% for VBIL and 0.65% for ASHR.

Which has better risk-adjusted returns?

VBIL currently has the higher Sharpe Ratio (18.00 vs 1.18), 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.