VBIL vs. SPTU

Last updated Jun 23, 2026

VBIL (Vanguard 0-3 Month Treasury Bill ETF) and SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) are both Ultrashort Bond funds - VBIL tracks the Bloomberg US Treasury Bills 0-3 Months Index while SPTU tracks the ICE BofA US Treasury Bill Index. Both are passively managed. At a 0.30 correlation, their price movements are largely independent. VBIL charges 0.07%/yr vs 0.05%/yr for SPTU.

Performance

VBIL vs. SPTU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard 0-3 Month Treasury Bill ETF (VBIL) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with VBIL having a 1.70% return and SPTU slightly lower at 1.63%.

VBIL

• 1D: 0.03%
• 1M: 0.29%
• YTD: 1.70%
• 6M: 1.81%
• 1Y: 3.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPTU

• 1D: -0.01%
• 1M: 0.25%
• YTD: 1.63%
• 6M: 1.75%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VBIL vs. SPTU - Yearly Performance Comparison

	2026 (YTD)	2025
VBIL Vanguard 0-3 Month Treasury Bill ETF	1.70%	0.92%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.63%	0.87%

Correlation

The correlation between VBIL and SPTU is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 8, 2025	0.30

Return for Risk

VBIL vs. SPTU — 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

SPTU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. SPTU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard 0-3 Month Treasury Bill ETF (VBIL) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). 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	SPTU	Difference
Sharpe ratio: Return per unit of total volatility	18.07	—	—
Sortino ratio: Return per unit of downside risk	111.81	—	—
Omega ratio: Gain probability vs. loss probability	39.66	—	—
Calmar ratio: Return relative to maximum drawdown	296.41	—	—
Martin ratio: Return relative to average drawdown	1,809.33	—	—

Drawdowns

VBIL vs. SPTU - Drawdown Comparison

The maximum VBIL drawdown since its inception was -0.09%, which is greater than SPTU's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for VBIL and SPTU.

Drawdown Indicators

	VBIL	SPTU	Difference
Max Drawdown Largest peak-to-trough decline	-0.09%	-0.04%	-0.05%
Max Drawdown (1Y) Largest decline over 1 year	-0.01%	—	—
Current Drawdown Current decline from peak	0.00%	-0.01%	+0.01%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	—	—

Volatility

Volatility by Period

	VBIL	SPTU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.16%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.22%	0.33%	-0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.30%	0.33%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.30%	0.33%	-0.03%

VBIL vs. SPTU - Expense Ratio Comparison

VBIL has a 0.07% expense ratio, which is higher than SPTU's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VBIL vs. SPTU - Dividend Comparison

VBIL's dividend yield for the trailing twelve months is around 3.65%, more than SPTU's 2.36% yield.

Position	TTM	2025
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.36%	0.89%
VBIL Vanguard 0-3 Month Treasury Bill ETF	3.65%	3.12%

Frequently Asked Questions

Can I hold both VBIL and SPTU in my portfolio?

VBIL and SPTU have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VBIL or SPTU?

On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VBIL or SPTU?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.07% for VBIL.

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

VBIL has the higher dividend yield at 3.65%, compared with 2.36% for SPTU.

What is the main difference between VBIL and SPTU?

VBIL tracks Bloomberg US Treasury Bills 0-3 Months Index, while SPTU tracks ICE BofA US Treasury Bill Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.07% for VBIL and 0.05% for SPTU.