VBIL vs. VGUS

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard 0-3 Month Treasury Bill ETF (VBIL) and Vanguard Ultra-Short Treasury ETF (VGUS).

VBIL and VGUS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VBIL is a passively managed fund by Vanguard that tracks the performance of the Bloomberg US Treasury Bills 0-3 Months Index. It was launched on Feb 7, 2025. VGUS is a passively managed fund by Vanguard that tracks the performance of the Bloomberg Short Treasury Index. It was launched on Feb 7, 2025. Both VBIL and VGUS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VBIL vs. VGUS - Performance Comparison

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

VBIL vs. VGUS - Yearly Performance Comparison

	2026 (YTD)	2025
VBIL Vanguard 0-3 Month Treasury Bill ETF	0.86%	3.71%
VGUS Vanguard Ultra-Short Treasury ETF	0.81%	3.77%

Returns By Period

In the year-to-date period, VBIL achieves a 0.86% return, which is significantly higher than VGUS's 0.81% return.

VBIL

• 1D: 0.03%
• 1M: 0.30%
• YTD: 0.86%
• 6M: 1.88%
• 1Y: 4.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VGUS

• 1D: 0.01%
• 1M: 0.25%
• YTD: 0.81%
• 6M: 1.82%
• 1Y: 4.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VBIL vs. VGUS - Expense Ratio Comparison

Both VBIL and VGUS have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

VBIL

Vanguard 0-3 Month Treasury Bill ETF

VGUS

Vanguard Ultra-Short Treasury ETF

Return for Risk

VBIL vs. VGUS — 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

VGUS

VGUS Risk / Return Rank: 100
VGUS Sharpe Ratio Rank: 100
VGUS Sortino Ratio Rank: 100
VGUS Omega Ratio Rank: 100
VGUS Calmar Ratio Rank: 100
VGUS 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. VGUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard 0-3 Month Treasury Bill ETF (VBIL) and Vanguard Ultra-Short Treasury ETF (VGUS). 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	VGUS	Difference
Sharpe ratio Return per unit of total volatility	12.70	11.39	+1.31
Sortino ratio Return per unit of downside risk	29.61	31.34	-1.73
Omega ratio Gain probability vs. loss probability	12.58	8.64	+3.94
Calmar ratio Return relative to maximum drawdown	44.01	55.20	-11.19
Martin ratio Return relative to average drawdown	379.94	367.74	+12.20
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. VGUS - Sharpe Ratio Comparison

The current VBIL Sharpe Ratio is 12.70, which is comparable to the VGUS Sharpe Ratio of 11.39. The chart below compares the historical Sharpe Ratios of VBIL and VGUS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VBIL	VGUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	12.70	11.39	+1.31
Sharpe Ratio (All Time) Calculated using the full available price history	13.08	11.78	+1.31

Correlation

The correlation between VBIL and VGUS is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

VBIL vs. VGUS - Dividend Comparison

VBIL's dividend yield for the trailing twelve months is around 3.67%, which matches VGUS's 3.66% yield.

	TTM	2025
VBIL Vanguard 0-3 Month Treasury Bill ETF	3.67%	3.12%
VGUS Vanguard Ultra-Short Treasury ETF	3.66%	3.12%

Drawdowns

VBIL vs. VGUS - Drawdown Comparison

The maximum VBIL drawdown since its inception was -0.09%, which is greater than VGUS's maximum drawdown of -0.07%. Use the drawdown chart below to compare losses from any high point for VBIL and VGUS.

Drawdown Indicators

	VBIL	VGUS	Difference
Max Drawdown Largest peak-to-trough decline	-0.09%	-0.07%	-0.02%
Max Drawdown (1Y) Largest decline over 1 year	-0.09%	-0.07%	-0.02%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	0.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	0.01%	0.00%

Volatility

VBIL vs. VGUS - Volatility Comparison

Vanguard 0-3 Month Treasury Bill ETF (VBIL) and Vanguard Ultra-Short Treasury ETF (VGUS) have volatilities of 0.07% and 0.07%, 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	VGUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.07%	0.07%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	0.16%	0.16%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	0.32%	0.35%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.31%	0.35%	-0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.31%	0.35%	-0.04%