VBIL vs. IHE
VBIL (Vanguard 0-3 Month Treasury Bill ETF) and IHE (iShares U.S. Pharmaceuticals ETF) are both exchange-traded funds - VBIL is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bills 0-3 Months Index, while IHE is a Health & Biotech Equities fund tracking the Dow Jones U.S. Select Pharmaceuticals Index. Both are passively managed. Over the past year, VBIL returned 3.93% vs 43.59% for IHE. At a correlation of -0.08, they often move in opposite directions. VBIL charges 0.07%/yr vs 0.42%/yr for IHE.
Performance
VBIL vs. IHE - Performance Comparison
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Returns By Period
In the year-to-date period, VBIL achieves a 1.51% return, which is significantly lower than IHE's 9.33% return.
VBIL
- 1D
- 0.01%
- 1M
- 0.30%
- YTD
- 1.51%
- 6M
- 1.81%
- 1Y
- 3.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IHE
- 1D
- 2.69%
- 1M
- 3.48%
- YTD
- 9.33%
- 6M
- 12.42%
- 1Y
- 43.59%
- 3Y*
- 18.33%
- 5Y*
- 10.57%
- 10Y*
- 7.97%
VBIL vs. IHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VBIL Vanguard 0-3 Month Treasury Bill ETF | 1.51% | 3.71% |
IHE iShares U.S. Pharmaceuticals ETF | 9.33% | 23.02% |
Correlation
The correlation between VBIL and IHE is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2025 | -0.08 |
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Return for Risk
VBIL vs. IHE — Risk / Return Rank
VBIL
IHE
VBIL vs. IHE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard 0-3 Month Treasury Bill ETF (VBIL) and iShares U.S. Pharmaceuticals ETF (IHE). 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.
| VBIL | IHE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +12.60 | ||
| Sortino ratioReturn per unit of downside risk | +35.37 | ||
| Omega ratioGain probability vs. loss probability | 21.07 | 1.43 | +19.64 |
| Calmar ratioReturn relative to maximum drawdown | 42.54 | 5.17 | +37.37 |
| Martin ratioReturn relative to average drawdown | 531.60 | 15.58 | +516.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VBIL | IHE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 15.14 | 2.54 | +12.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.65 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.44 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 13.45 | 0.51 | +12.94 |
Drawdowns
VBIL vs. IHE - Drawdown Comparison
The maximum VBIL drawdown since its inception was -0.09%, smaller than the maximum IHE drawdown of -38.20%. Use the drawdown chart below to compare losses from any high point for VBIL and IHE.
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Drawdown Indicators
| VBIL | IHE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.09% | -38.20% | +38.11% |
Max Drawdown (1Y)Largest decline over 1 year | -0.09% | -8.47% | +8.38% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.92% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.03% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.59% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.18% | +0.18% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -7.92% | +7.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 2.81% | -2.80% |
Volatility
VBIL vs. IHE - Volatility Comparison
The current volatility for Vanguard 0-3 Month Treasury Bill ETF (VBIL) is 0.06%, while iShares U.S. Pharmaceuticals ETF (IHE) has a volatility of 6.04%. This indicates that VBIL experiences smaller price fluctuations and is considered to be less risky than IHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBIL | IHE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 6.04% | -5.98% |
Volatility (6M)Calculated over the trailing 6-month period | 0.16% | 12.70% | -12.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.26% | 17.26% | -17.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.30% | 16.28% | -15.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.30% | 18.07% | -17.77% |
VBIL vs. IHE - Expense Ratio Comparison
VBIL has a 0.07% expense ratio, which is lower than IHE's 0.42% expense ratio.
Dividends
VBIL vs. IHE - Dividend Comparison
VBIL's dividend yield for the trailing twelve months is around 3.65%, more than IHE's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHE iShares U.S. Pharmaceuticals ETF | 1.61% | 1.76% | 1.73% | 1.39% | 2.01% | 1.49% | 1.19% | 1.40% | 1.25% | 1.36% | 0.92% | 1.93% |
VBIL Vanguard 0-3 Month Treasury Bill ETF | 3.65% | 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
VBIL and IHE have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IHE has higher volatility (6.04%) compared to VBIL (0.06%). In terms of maximum drawdown, VBIL dropped -0.09% vs IHE's -38.20%.
On 1-year performance, IHE leads with 43.59% vs 3.93% for VBIL. On fees, VBIL is cheaper at 0.07% per year. On volatility, VBIL has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IHE has performed better with a 43.59% return vs 3.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VBIL is cheaper with a 0.07% expense ratio, compared with 0.42% for IHE.
VBIL has the higher dividend yield at 3.65%, compared with 1.61% for IHE.
VBIL is categorized as Ultrashort Bond, while IHE is Health & Biotech Equities. VBIL tracks Bloomberg US Treasury Bills 0-3 Months Index, while IHE tracks Dow Jones U.S. Select Pharmaceuticals Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VBIL and 0.42% for IHE.
VBIL currently has the higher Sharpe Ratio (15.14 vs 2.54), 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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