VTV vs. BIL
VTV (Vanguard Value ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - VTV is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value Index, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. Over the past 10 years, VTV returned 12.42%/yr vs 2.19%/yr for BIL. At a correlation of -0.03, they often move in opposite directions. VTV charges 0.04%/yr vs 0.14%/yr for BIL.
Performance
VTV vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, VTV achieves a 11.91% return, which is significantly higher than BIL's 1.54% return. Over the past 10 years, VTV has outperformed BIL with an annualized return of 12.42%, while BIL has yielded a comparatively lower 2.19% annualized return.
VTV
- 1D
- 0.25%
- 1M
- 2.67%
- YTD
- 11.91%
- 6M
- 13.41%
- 1Y
- 25.49%
- 3Y*
- 17.72%
- 5Y*
- 11.30%
- 10Y*
- 12.42%
BIL
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.54%
- 6M
- 1.78%
- 1Y
- 3.88%
- 3Y*
- 4.62%
- 5Y*
- 3.42%
- 10Y*
- 2.19%
VTV vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTV Vanguard Value ETF | 11.91% | 15.27% | 15.95% | 9.32% | -2.09% | 26.53% | 2.33% | 25.66% | -5.47% | 17.15% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.54% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Correlation
The correlation between VTV and BIL 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 | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since May 31, 2007 | -0.03 |
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Return for Risk
VTV vs. BIL — Risk / Return Rank
VTV
BIL
VTV vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Value ETF (VTV) 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.
| VTV | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.12 | ||
| Sortino ratioReturn per unit of downside risk | -171.08 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 88.16 | -86.71 |
| Calmar ratioReturn relative to maximum drawdown | 4.03 | 356.40 | -352.37 |
| Martin ratioReturn relative to average drawdown | 15.20 | 2,826.06 | -2,810.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VTV | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.52 | 19.64 | -17.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 13.23 | -12.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 8.57 | -7.82 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 2.78 | -2.27 |
Drawdowns
VTV vs. BIL - Drawdown Comparison
The maximum VTV drawdown since its inception was -59.27%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for VTV and BIL.
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Drawdown Indicators
| VTV | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.27% | -0.78% | -58.49% |
Max Drawdown (1Y)Largest decline over 1 year | -6.35% | -0.01% | -6.34% |
Max Drawdown (3Y)Largest decline over 3 years | -14.52% | -0.01% | -14.51% |
Max Drawdown (5Y)Largest decline over 5 years | -17.04% | -0.09% | -16.95% |
Max Drawdown (10Y)Largest decline over 10 years | -36.78% | -0.21% | -36.57% |
Current DrawdownCurrent decline from peak | -1.11% | 0.00% | -1.11% |
Average DrawdownAverage peak-to-trough decline | -7.87% | -0.26% | -7.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 0.00% | +1.68% |
Volatility
VTV vs. BIL - Volatility Comparison
Vanguard Value ETF (VTV) has a higher volatility of 2.65% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.06%. This indicates that VTV's price experiences larger fluctuations and is considered to be riskier than BIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTV | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 0.06% | +2.59% |
Volatility (6M)Calculated over the trailing 6-month period | 7.67% | 0.14% | +7.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.18% | 0.20% | +9.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.89% | 0.26% | +13.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.68% | 0.26% | +16.42% |
VTV vs. BIL - Expense Ratio Comparison
VTV has a 0.04% 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
VTV vs. BIL - Dividend Comparison
VTV's dividend yield for the trailing twelve months is around 1.87%, less than BIL's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
VTV Vanguard Value ETF | 1.87% | 2.05% | 2.31% | 2.46% | 2.52% | 2.15% | 2.56% | 2.50% | 2.73% | 2.29% | 2.44% | 2.60% |
Frequently Asked Questions
VTV and BIL 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.
VTV has higher volatility (2.65%) compared to BIL (0.06%). In terms of maximum drawdown, VTV dropped -59.27% vs BIL's -0.78%.
On 10-year performance, VTV leads with 12.42% vs 2.19% for BIL. On fees, VTV is cheaper at 0.04% per year. On volatility, BIL has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VTV has performed better with a 12.42% return vs 2.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTV is cheaper with a 0.04% expense ratio, compared with 0.14% for BIL.
BIL has the higher dividend yield at 3.86%, compared with 1.87% for VTV.
VTV is categorized as Large Cap Value Equities, while BIL is Government Bonds. VTV tracks CRSP US Large Cap Value 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: 0.04% for VTV and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.64 vs 2.52), 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.
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