VOLX.TO vs. CBIL.TO
VOLX.TO (BetaPro S&P 500 VIX Short-Term Futures ETF) and CBIL.TO (Global X 0-3 Month T-Bill ETF) are both exchange-traded funds - VOLX.TO is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index, while CBIL.TO is a Canadian Government Bonds fund actively managed by Global X. VOLX.TO is passively managed, while CBIL.TO is actively managed. Over the past 3 years, VOLX.TO returned -39.82%/yr vs 3.54%/yr for CBIL.TO. At a correlation of -0.04, they often move in opposite directions.
Performance
VOLX.TO vs. CBIL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VOLX.TO achieves a -18.74% return, which is significantly lower than CBIL.TO's 1.10% return.
VOLX.TO
- 1D
- 2.91%
- 1M
- -10.26%
- 6M
- -16.74%
- YTD
- -18.74%
- 1Y
- -52.76%
- 3Y*
- -39.82%
- 5Y*
- -45.79%
- 10Y*
- -50.16%
CBIL.TO
- 1D
- 0.02%
- 1M
- 0.16%
- 6M
- 1.08%
- YTD
- 1.10%
- 1Y
- 2.31%
- 3Y*
- 3.54%
- 5Y*
- —
- 10Y*
- —
VOLX.TO vs. CBIL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VOLX.TO BetaPro S&P 500 VIX Short-Term Futures ETF | -18.74% | -43.52% | -26.70% | -62.44% |
CBIL.TO Global X 0-3 Month T-Bill ETF | 1.10% | 2.68% | 4.47% | 3.36% |
Correlation
The correlation between VOLX.TO and CBIL.TO is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2023 | -0.04 |
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Return for Risk
VOLX.TO vs. CBIL.TO — Risk / Return Rank
VOLX.TO
CBIL.TO
VOLX.TO vs. CBIL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaPro S&P 500 VIX Short-Term Futures ETF (VOLX.TO) and Global X 0-3 Month T-Bill ETF (CBIL.TO). 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.
| VOLX.TO | CBIL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.93 | ||
| Sortino ratioReturn per unit of downside risk | -22.47 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 5.33 | -4.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 58.06 | -59.02 |
| Martin ratioReturn relative to average drawdown | -1.54 | 315.36 | -316.90 |
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Drawdowns
VOLX.TO vs. CBIL.TO - Drawdown Comparison
The maximum VOLX.TO drawdown since its inception was -100.00%, which is greater than CBIL.TO's maximum drawdown of -0.06%. Use the drawdown chart below to compare losses from any high point for VOLX.TO and CBIL.TO.
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Drawdown Indicators
| VOLX.TO | CBIL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -0.06% | -99.94% |
Max Drawdown (1Y)Largest decline over 1 year | -54.90% | -0.04% | -54.86% |
Max Drawdown (3Y)Largest decline over 3 years | -81.25% | -0.06% | -81.19% |
Max Drawdown (5Y)Largest decline over 5 years | -96.21% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.91% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | 0.00% | -100.00% |
Average DrawdownAverage peak-to-trough decline | -91.94% | -0.00% | -91.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.37% | 0.01% | +34.36% |
Volatility
VOLX.TO vs. CBIL.TO - Volatility Comparison
BetaPro S&P 500 VIX Short-Term Futures ETF (VOLX.TO) has a higher volatility of 12.66% compared to Global X 0-3 Month T-Bill ETF (CBIL.TO) at 0.07%. This indicates that VOLX.TO's price experiences larger fluctuations and is considered to be riskier than CBIL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VOLX.TO | CBIL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.66% | 0.07% | +12.59% |
Volatility (6M)Calculated over the trailing 6-month period | 43.18% | 0.18% | +43.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.80% | 0.26% | +54.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.58% | 0.32% | +66.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.22% | 0.32% | +70.90% |
Dividends
VOLX.TO vs. CBIL.TO - Dividend Comparison
VOLX.TO has not paid dividends to shareholders, while CBIL.TO's dividend yield for the trailing twelve months is around 2.25%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CBIL.TO Global X 0-3 Month T-Bill ETF | 2.25% | 2.58% | 4.38% | 3.39% |
VOLX.TO BetaPro S&P 500 VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VOLX.TO and CBIL.TO have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOLX.TO is categorized as Volatility, while CBIL.TO is Canadian Government Bonds.
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