VUSXX vs. CLIP

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Treasury Money Market Fund (VUSXX) and Global X 1-3 Month T-Bill ETF (CLIP).

VUSXX is managed by Vanguard. It was launched on Sep 1, 2010. CLIP is a passively managed fund by Global X that tracks the performance of the Solactive 1-3 month US T-Bill Index - USD. It was launched on Jun 20, 2023.

Performance

VUSXX vs. CLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Treasury Money Market Fund (VUSXX) and Global X 1-3 Month T-Bill ETF (CLIP). The values are adjusted to include any dividend payments, if applicable.

VUSXX vs. CLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VUSXX Vanguard Treasury Money Market Fund	0.59%	4.25%	1.65%	0.43%
CLIP Global X 1-3 Month T-Bill ETF	0.88%	4.23%	5.26%	2.82%

Returns By Period

In the year-to-date period, VUSXX achieves a 0.59% return, which is significantly lower than CLIP's 0.88% return.

VUSXX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.59%
• 6M: 1.59%
• 1Y: 3.76%
• 3Y*: 2.30%
• 5Y*: —
• 10Y*: —

CLIP

• 1D: 0.02%
• 1M: 0.30%
• YTD: 0.88%
• 6M: 1.88%
• 1Y: 4.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VUSXX vs. CLIP - Expense Ratio Comparison

VUSXX has a 0.08% expense ratio, which is higher than CLIP's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

VUSXX

Vanguard Treasury Money Market Fund

CLIP

Global X 1-3 Month T-Bill ETF

Return for Risk

VUSXX vs. CLIP — Risk / Return Rank

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

CLIP

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

VUSXX vs. CLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Treasury Money Market Fund (VUSXX) and Global X 1-3 Month T-Bill ETF (CLIP). 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.

	VUSXX	CLIP	Difference
Sharpe ratio Return per unit of total volatility	3.51	13.66	-10.15
Sortino ratio Return per unit of downside risk	—	40.88	—
Omega ratio Gain probability vs. loss probability	—	11.15	—
Calmar ratio Return relative to maximum drawdown	—	73.93	—
Martin ratio Return relative to average drawdown	—	600.01	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VUSXX vs. CLIP - Sharpe Ratio Comparison

The current VUSXX Sharpe Ratio is 3.51, which is lower than the CLIP Sharpe Ratio of 13.66. The chart below compares the historical Sharpe Ratios of VUSXX and CLIP, 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

	VUSXX	CLIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.51	13.66	-10.15
Sharpe Ratio (All Time) Calculated using the full available price history	2.02	10.60	-8.58

Correlation

The correlation between VUSXX and CLIP is 0.03, 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

VUSXX vs. CLIP - Dividend Comparison

VUSXX's dividend yield for the trailing twelve months is around 3.69%, less than CLIP's 4.00% yield.

	TTM	2025	2024	2023
VUSXX Vanguard Treasury Money Market Fund	3.69%	4.15%	1.63%	0.43%
CLIP Global X 1-3 Month T-Bill ETF	4.00%	4.14%	5.11%	2.75%

Drawdowns

VUSXX vs. CLIP - Drawdown Comparison

The maximum VUSXX drawdown since its inception was 0.00%, smaller than the maximum CLIP drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for VUSXX and CLIP.

Drawdown Indicators

	VUSXX	CLIP	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-0.08%	+0.08%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-0.05%	+0.05%
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	0.00%	0.01%	-0.01%

Volatility

VUSXX vs. CLIP - Volatility Comparison

The current volatility for Vanguard Treasury Money Market Fund (VUSXX) is 0.00%, while Global X 1-3 Month T-Bill ETF (CLIP) has a volatility of 0.05%. This indicates that VUSXX experiences smaller price fluctuations and is considered to be less risky than CLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VUSXX	CLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	0.05%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	0.77%	0.15%	+0.62%
Volatility (1Y) Calculated over the trailing 1-year period	1.17%	0.30%	+0.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.72%	0.45%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.72%	0.45%	+0.27%