VWRD.L vs. TBIL
VWRD.L (Vanguard FTSE All-World UCITS ETF) and TBIL (F/m US Treasury 3 Month Bill ETF) are both exchange-traded funds - VWRD.L is a Global Equities fund tracking the FTSE All-World Index, while TBIL is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index. Both are passively managed. Over the past 3 years, VWRD.L returned 19.78%/yr vs 4.63%/yr for TBIL. At a correlation of -0.02, they often move in opposite directions. VWRD.L charges 0.22%/yr vs 0.15%/yr for TBIL.
Performance
VWRD.L vs. TBIL - Performance Comparison
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Returns By Period
In the year-to-date period, VWRD.L achieves a 10.27% return, which is significantly higher than TBIL's 1.61% return.
VWRD.L
- 1D
- 2.38%
- 1M
- 0.88%
- YTD
- 10.27%
- 6M
- 11.90%
- 1Y
- 25.73%
- 3Y*
- 19.78%
- 5Y*
- 10.91%
- 10Y*
- 12.94%
TBIL
- 1D
- 0.03%
- 1M
- 0.32%
- YTD
- 1.61%
- 6M
- 1.78%
- 1Y
- 3.91%
- 3Y*
- 4.63%
- 5Y*
- —
- 10Y*
- —
VWRD.L vs. TBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VWRD.L Vanguard FTSE All-World UCITS ETF | 10.27% | 22.39% | 17.65% | 22.31% | -5.22% |
TBIL F/m US Treasury 3 Month Bill ETF | 1.61% | 4.19% | 5.15% | 5.12% | 1.29% |
Correlation
The correlation between VWRD.L and TBIL is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | -0.02 |
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Return for Risk
VWRD.L vs. TBIL — Risk / Return Rank
VWRD.L
TBIL
VWRD.L vs. TBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World UCITS ETF (VWRD.L) and F/m US Treasury 3 Month Bill ETF (TBIL). 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.
| VWRD.L | TBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -11.86 | ||
| Sortino ratioReturn per unit of downside risk | -55.70 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 17.24 | -15.87 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | 197.88 | -194.97 |
| Martin ratioReturn relative to average drawdown | 11.88 | 939.34 | -927.46 |
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Drawdowns
VWRD.L vs. TBIL - Drawdown Comparison
The maximum VWRD.L drawdown since its inception was -33.83%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for VWRD.L and TBIL.
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Drawdown Indicators
| VWRD.L | TBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.83% | -0.10% | -33.73% |
Max Drawdown (1Y)Largest decline over 1 year | -8.80% | -0.02% | -8.78% |
Max Drawdown (3Y)Largest decline over 3 years | -16.25% | -0.02% | -16.23% |
Max Drawdown (5Y)Largest decline over 5 years | -26.02% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.83% | — | — |
Current DrawdownCurrent decline from peak | -1.99% | 0.00% | -1.99% |
Average DrawdownAverage peak-to-trough decline | -4.51% | -0.00% | -4.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 0.00% | +2.16% |
Volatility
VWRD.L vs. TBIL - Volatility Comparison
Vanguard FTSE All-World UCITS ETF (VWRD.L) has a higher volatility of 4.40% compared to F/m US Treasury 3 Month Bill ETF (TBIL) at 0.07%. This indicates that VWRD.L's price experiences larger fluctuations and is considered to be riskier than TBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWRD.L | TBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.40% | 0.07% | +4.33% |
Volatility (6M)Calculated over the trailing 6-month period | 10.29% | 0.19% | +10.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.77% | 0.29% | +12.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.38% | 0.32% | +15.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.73% | 0.32% | +15.41% |
VWRD.L vs. TBIL - Expense Ratio Comparison
VWRD.L has a 0.22% expense ratio, which is higher than TBIL's 0.15% 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%.
Dividends
VWRD.L vs. TBIL - Dividend Comparison
VWRD.L's dividend yield for the trailing twelve months is around 1.25%, less than TBIL's 3.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TBIL F/m US Treasury 3 Month Bill ETF | 3.82% | 4.07% | 5.02% | 5.00% | 1.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VWRD.L Vanguard FTSE All-World UCITS ETF | 1.25% | 1.38% | 1.52% | 1.69% | 2.05% | 1.48% | 1.47% | 1.88% | 2.29% | 1.82% | 2.04% | 2.07% |
Frequently Asked Questions
VWRD.L and TBIL have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TBIL is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TBIL is cheaper with a 0.15% expense ratio, compared with 0.22% for VWRD.L.
VWRD.L is categorized as Global Equities, while TBIL is Ultrashort Bond. VWRD.L tracks FTSE All-World Index, while TBIL tracks Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index. They also come from different issuers: Vanguard and F/m Investments. Their fees differ too: 0.22% for VWRD.L and 0.15% for TBIL.
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