VBIL vs. SBIT

Last updated Jul 14, 2026

VBIL (Vanguard 0-3 Month Treasury Bill ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - VBIL is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bills 0-3 Months Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, VBIL returned 3.89% vs 124.12% for SBIT. At a correlation of -0.04, they often move in opposite directions. VBIL charges 0.07%/yr vs 0.95%/yr for SBIT.

Performance

VBIL vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard 0-3 Month Treasury Bill ETF (VBIL) and Proshares Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VBIL achieves a 1.92% return, which is significantly lower than SBIT's 44.00% return.

VBIL

• 1D: 0.01%
• 1M: 0.32%
• 6M: 1.82%
• YTD: 1.92%
• 1Y: 3.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: 5.38%
• 1M: 1.44%
• 6M: 58.27%
• YTD: 44.00%
• 1Y: 124.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VBIL vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025
VBIL Vanguard 0-3 Month Treasury Bill ETF	1.92%	3.73%
SBIT Proshares Ultrashort Bitcoin ETF	44.00%	-14.56%

Correlation

The correlation between VBIL and SBIT 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 11, 2025	-0.04

Return for Risk

VBIL vs. SBIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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

SBIT

SBIT Risk / Return Rank: 52
SBIT Sharpe Ratio Rank: 51
SBIT Sortino Ratio Rank: 52
SBIT Omega Ratio Rank: 48
SBIT Calmar Ratio Rank: 66
SBIT Martin Ratio Rank: 45

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.

VBIL vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard 0-3 Month Treasury Bill ETF (VBIL) and Proshares Ultrashort Bitcoin ETF (SBIT). 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	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	18.27	1.41	+16.86
Sortino ratio: Return per unit of downside risk	120.36	2.05	+118.31
Omega ratio: Gain probability vs. loss probability	45.31	1.25	+44.07
Calmar ratio: Return relative to maximum drawdown	294.44	2.60	+291.84
Martin ratio: Return relative to average drawdown	1,947.42	5.92	+1,941.50

VBIL vs. SBIT - Sharpe Ratio Comparison

The current VBIL Sharpe Ratio is 18.27, which is higher than the SBIT Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of VBIL and SBIT, 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. SBIT - Drawdown Comparison

The maximum VBIL drawdown since its inception was -0.09%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for VBIL and SBIT.

Drawdown Indicators

	VBIL	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-0.09%	-91.35%	+91.26%
Max Drawdown (1Y) Largest decline over 1 year	-0.01%	-47.94%	+47.93%
Current Drawdown Current decline from peak	0.00%	-77.15%	+77.15%
Average Drawdown Average peak-to-trough decline	-0.00%	-68.83%	+68.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	21.04%	-21.04%

Volatility

VBIL vs. SBIT - Volatility Comparison

The current volatility for Vanguard 0-3 Month Treasury Bill ETF (VBIL) is 0.06%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 22.98%. This indicates that VBIL experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBIL	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	22.98%	-22.92%
Volatility (6M) Calculated over the trailing 6-month period	0.15%	68.89%	-68.74%
Volatility (1Y) Calculated over the trailing 1-year period	0.21%	88.51%	-88.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.29%	96.89%	-96.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.29%	96.89%	-96.60%

VBIL vs. SBIT - Expense Ratio Comparison

VBIL has a 0.07% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

VBIL vs. SBIT - Dividend Comparison

VBIL's dividend yield for the trailing twelve months is around 3.61%, less than SBIT's 3.97% yield.

Position	TTM	2025	2024
SBIT Proshares Ultrashort Bitcoin ETF	3.97%	0.52%	1.00%
VBIL Vanguard 0-3 Month Treasury Bill ETF	3.61%	3.12%	0.00%

Frequently Asked Questions

Can I hold both VBIL and SBIT in my portfolio?

VBIL and SBIT 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.

Which is riskier, VBIL or SBIT?

SBIT has higher volatility (22.98%) compared to VBIL (0.06%). In terms of maximum drawdown, VBIL dropped -0.09% vs SBIT's -91.35%.

Which ETF is better, VBIL or SBIT?

On 1-year performance, SBIT leads with 124.12% vs 3.89% 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.

Which ETF has performed better, VBIL or SBIT?

Over the 1-year period, SBIT has performed better with a 124.12% return vs 3.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VBIL or SBIT?

VBIL is cheaper with a 0.07% expense ratio, compared with 0.95% for SBIT.

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

SBIT has the higher dividend yield at 3.97%, compared with 3.61% for VBIL.

What is the main difference between VBIL and SBIT?

VBIL is categorized as Ultrashort Bond, while SBIT is Cryptocurrency. VBIL tracks Bloomberg US Treasury Bills 0-3 Months Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Vanguard and ProShares. Their fees differ too: 0.07% for VBIL and 0.95% for SBIT.

Which has better risk-adjusted returns?

VBIL currently has the higher Sharpe Ratio (18.27 vs 1.41), 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.