VBIL vs. USFR

Last updated Jun 3, 2026

VBIL (Vanguard 0-3 Month Treasury Bill ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - VBIL is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bills 0-3 Months Index, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past year, VBIL returned 3.93% vs 3.99% for USFR. At a 0.25 correlation, their price movements are largely independent. VBIL charges 0.07%/yr vs 0.15%/yr for USFR.

Performance

VBIL vs. USFR - Performance Comparison

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

Returns By Period

In the year-to-date period, VBIL achieves a 1.48% return, which is significantly lower than USFR's 1.58% return.

VBIL

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.48%
• 6M: 1.80%
• 1Y: 3.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USFR

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.58%
• 6M: 1.96%
• 1Y: 3.99%
• 3Y*: 4.75%
• 5Y*: 3.67%
• 10Y*: 2.47%

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

VBIL vs. USFR - Yearly Performance Comparison

	2026 (YTD)	2025
VBIL Vanguard 0-3 Month Treasury Bill ETF	1.48%	3.71%
USFR WisdomTree Floating Rate Treasury Fund	1.58%	3.69%

Correlation

The correlation between VBIL and USFR is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Feb 12, 2025	0.25

Return for Risk

VBIL vs. USFR — 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: 99
VBIL Martin Ratio Rank: 100

USFR

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

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. USFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard 0-3 Month Treasury Bill ETF (VBIL) and WisdomTree Floating Rate Treasury Fund (USFR). 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	USFR	Difference
Sharpe ratio Return per unit of total volatility	15.13	14.83	+0.30
Sortino ratio Return per unit of downside risk	39.04	48.59	-9.55
Omega ratio Gain probability vs. loss probability	21.07	12.58	+8.48
Calmar ratio Return relative to maximum drawdown	42.56	203.63	-161.07
Martin ratio Return relative to average drawdown	532.95	767.72	-234.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VBIL vs. USFR - Sharpe Ratio Comparison

The current VBIL Sharpe Ratio is 15.13, which is comparable to the USFR Sharpe Ratio of 14.83. The chart below compares the historical Sharpe Ratios of VBIL and USFR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VBIL	USFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	15.13	14.83	+0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	9.27	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	3.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	13.42	1.60	+11.82

Drawdowns

VBIL vs. USFR - Drawdown Comparison

The maximum VBIL drawdown since its inception was -0.09%, smaller than the maximum USFR drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for VBIL and USFR.

Drawdown Indicators

	VBIL	USFR	Difference
Max Drawdown Largest peak-to-trough decline	-0.09%	-1.36%	+1.27%
Max Drawdown (1Y) Largest decline over 1 year	-0.09%	-0.02%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.80%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.16%	+0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	0.01%	0.00%

Volatility

VBIL vs. USFR - Volatility Comparison

Vanguard 0-3 Month Treasury Bill ETF (VBIL) and WisdomTree Floating Rate Treasury Fund (USFR) have volatilities of 0.06% and 0.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBIL	USFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	0.06%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	0.16%	0.18%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	0.26%	0.27%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.30%	0.40%	-0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.30%	0.81%	-0.51%

VBIL vs. USFR - Expense Ratio Comparison

VBIL has a 0.07% expense ratio, which is lower than USFR's 0.15% expense ratio. Despite the difference, 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. USFR - Dividend Comparison

VBIL's dividend yield for the trailing twelve months is around 3.65%, less than USFR's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
USFR WisdomTree Floating Rate Treasury Fund	3.91%	4.15%	5.17%	5.12%	1.78%	0.01%	0.40%	2.08%	1.67%	1.03%	0.29%
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%

Frequently Asked Questions

Can I hold both VBIL and USFR in my portfolio?

VBIL and USFR have a correlation of 0.23, 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 USFR?

USFR has higher volatility (0.06%) compared to VBIL (0.06%). In terms of maximum drawdown, VBIL dropped -0.09% vs USFR's -1.36%.

Which ETF is better, VBIL or USFR?

On 1-year performance, USFR leads with 3.99% vs 3.93% for VBIL. On fees, VBIL is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VBIL or USFR?

Over the 1-year period, USFR has performed better with a 3.99% return vs 3.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VBIL or USFR?

VBIL is cheaper with a 0.07% expense ratio, compared with 0.15% for USFR.

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

USFR has the higher dividend yield at 3.91%, compared with 3.65% for VBIL.

What is the main difference between VBIL and USFR?

VBIL is categorized as Ultrashort Bond, while USFR is Government Bonds. VBIL tracks Bloomberg US Treasury Bills 0-3 Months Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: Vanguard and WisdomTree. Their fees differ too: 0.07% for VBIL and 0.15% for USFR.

Which has better risk-adjusted returns?

VBIL currently has the higher Sharpe Ratio (15.13 vs 14.83), 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.