VBIL vs. IYR
VBIL (Vanguard 0-3 Month Treasury Bill ETF) and IYR (iShares U.S. Real Estate ETF) are both exchange-traded funds - VBIL is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bills 0-3 Months Index, while IYR is a REIT fund tracking the Dow Jones U.S. Real Estate Index. Both are passively managed. Over the past year, VBIL returned 3.93% vs 11.55% for IYR. At a correlation of -0.01, they often move in opposite directions. VBIL charges 0.07%/yr vs 0.42%/yr for IYR.
Performance
VBIL vs. IYR - Performance Comparison
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Returns By Period
In the year-to-date period, VBIL achieves a 1.62% return, which is significantly lower than IYR's 10.64% return.
VBIL
- 1D
- 0.03%
- 1M
- 0.28%
- YTD
- 1.62%
- 6M
- 1.80%
- 1Y
- 3.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IYR
- 1D
- -0.75%
- 1M
- 3.79%
- YTD
- 10.64%
- 6M
- 10.25%
- 1Y
- 11.55%
- 3Y*
- 9.07%
- 5Y*
- 2.62%
- 10Y*
- 5.75%
VBIL vs. IYR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VBIL Vanguard 0-3 Month Treasury Bill ETF | 1.62% | 3.73% |
IYR iShares U.S. Real Estate ETF | 10.64% | 0.14% |
Correlation
The correlation between VBIL and IYR is -0.04, 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 | -0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2025 | -0.01 |
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Return for Risk
VBIL vs. IYR — Risk / Return Rank
VBIL
IYR
VBIL vs. IYR - 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. Real Estate ETF (IYR). 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 | IYR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +14.21 | ||
| Sortino ratioReturn per unit of downside risk | +37.79 | ||
| Omega ratioGain probability vs. loss probability | 21.06 | 1.16 | +19.91 |
| Calmar ratioReturn relative to maximum drawdown | 42.54 | 1.36 | +41.18 |
| Martin ratioReturn relative to average drawdown | 531.57 | 4.24 | +527.33 |
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Drawdowns
VBIL vs. IYR - Drawdown Comparison
The maximum VBIL drawdown since its inception was -0.09%, smaller than the maximum IYR drawdown of -74.13%. Use the drawdown chart below to compare losses from any high point for VBIL and IYR.
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Drawdown Indicators
| VBIL | IYR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.09% | -74.13% | +74.04% |
Max Drawdown (1Y)Largest decline over 1 year | -0.09% | -8.54% | +8.45% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.52% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.75% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.32% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.75% | +0.75% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -12.89% | +12.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 2.73% | -2.72% |
Volatility
VBIL vs. IYR - Volatility Comparison
The current volatility for Vanguard 0-3 Month Treasury Bill ETF (VBIL) is 0.05%, while iShares U.S. Real Estate ETF (IYR) has a volatility of 4.82%. This indicates that VBIL experiences smaller price fluctuations and is considered to be less risky than IYR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBIL | IYR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 4.82% | -4.77% |
Volatility (6M)Calculated over the trailing 6-month period | 0.16% | 9.90% | -9.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.26% | 13.60% | -13.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.30% | 18.76% | -18.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.30% | 20.34% | -20.04% |
VBIL vs. IYR - Expense Ratio Comparison
VBIL has a 0.07% expense ratio, which is lower than IYR's 0.42% expense ratio.
Dividends
VBIL vs. IYR - Dividend Comparison
VBIL's dividend yield for the trailing twelve months is around 3.65%, more than IYR's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYR iShares U.S. Real Estate ETF | 2.67% | 2.48% | 2.57% | 2.75% | 2.92% | 2.06% | 2.58% | 3.05% | 3.53% | 3.73% | 4.41% | 3.92% |
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 IYR 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.
IYR has higher volatility (4.82%) compared to VBIL (0.05%). In terms of maximum drawdown, VBIL dropped -0.09% vs IYR's -74.13%.
On 1-year performance, IYR leads with 11.55% 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 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IYR has performed better with a 11.55% 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 IYR.
VBIL has the higher dividend yield at 3.65%, compared with 2.67% for IYR.
VBIL is categorized as Ultrashort Bond, while IYR is REIT. VBIL tracks Bloomberg US Treasury Bills 0-3 Months Index, while IYR tracks Dow Jones U.S. Real Estate Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VBIL and 0.42% for IYR.
VBIL currently has the higher Sharpe Ratio (15.06 vs 0.86), 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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