VTG vs. BIL

Last updated Jun 5, 2026

VTG (Vanguard Total Treasury ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - VTG is a Intermediate Core Bond fund tracking the Bloomberg U.S. Treasury Total Return Unhedged USD Index, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. At a correlation of -0.12, they often move in opposite directions. VTG charges 0.03%/yr vs 0.14%/yr for BIL.

Performance

VTG vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Treasury ETF (VTG) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTG achieves a 0.01% return, which is significantly lower than BIL's 1.49% return.

VTG

• 1D: 0.11%
• 1M: 0.10%
• YTD: 0.01%
• 6M: 0.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BIL

• 1D: 0.00%
• 1M: 0.27%
• YTD: 1.49%
• 6M: 1.76%
• 1Y: 3.87%
• 3Y*: 4.64%
• 5Y*: 3.41%
• 10Y*: 2.18%

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

VTG vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025
VTG Vanguard Total Treasury ETF	0.01%	2.88%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.49%	1.94%

Correlation

The correlation between VTG and BIL is -0.12, 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 (All Time) Calculated using the full available price history since Jul 10, 2025	-0.12

Return for Risk

VTG vs. BIL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BIL

BIL Risk / Return Rank: 100
BIL Sharpe Ratio Rank: 100
BIL Sortino Ratio Rank: 100
BIL Omega Ratio Rank: 100
BIL Calmar Ratio Rank: 100
BIL 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.

VTG vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Treasury ETF (VTG) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). 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.

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

Sharpe Ratios by Period

	VTG	BIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	19.71	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	13.15	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	8.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	2.78	-1.86

Drawdowns

VTG vs. BIL - Drawdown Comparison

The maximum VTG drawdown since its inception was -2.89%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for VTG and BIL.

Drawdown Indicators

	VTG	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-2.89%	-0.78%	-2.11%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.01%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.10%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.21%	—
Current Drawdown Current decline from peak	-1.78%	0.00%	-1.78%
Average Drawdown Average peak-to-trough decline	-0.74%	-0.26%	-0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	VTG	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.51%	0.20%	+3.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.51%	0.26%	+3.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.51%	0.26%	+3.25%

VTG vs. BIL - Expense Ratio Comparison

VTG has a 0.03% expense ratio, which is lower than BIL's 0.14% 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

VTG vs. BIL - Dividend Comparison

VTG's dividend yield for the trailing twelve months is around 3.20%, less than BIL's 3.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	3.86%	4.13%	5.03%	4.92%	1.35%	0.00%	0.30%	2.05%	1.66%	0.68%	0.07%
VTG Vanguard Total Treasury ETF	3.20%	1.65%	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 VTG and BIL in my portfolio?

VTG and BIL have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VTG or BIL?

On fees, VTG is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VTG or BIL?

VTG is cheaper with a 0.03% expense ratio, compared with 0.14% for BIL.

Which ETF pays a higher dividend yield, VTG or BIL?

BIL has the higher dividend yield at 3.86%, compared with 3.20% for VTG.

What is the main difference between VTG and BIL?

VTG is categorized as Intermediate Core Bond, while BIL is Government Bonds. VTG tracks Bloomberg U.S. Treasury Total Return Unhedged USD Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.03% for VTG and 0.14% for BIL.