XBIL vs. BOAT

Last updated Jun 23, 2026

XBIL (US Treasury 6 Month Bill ETF) and BOAT (SonicShares Global Shipping ETF) are both exchange-traded funds - XBIL is a Ultrashort Bond fund tracking the ICE BofA US 6-Month Treasury Bill Index - Benchmark TR Gross, while BOAT is a Transportation Equities fund tracking the Solactive Global Shipping Index. Both are passively managed. Over the past 3 years, XBIL returned 4.59%/yr vs 28.86%/yr for BOAT. At a correlation of -0.09, they often move in opposite directions. XBIL charges 0.15%/yr vs 0.69%/yr for BOAT.

Performance

XBIL vs. BOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Treasury 6 Month Bill ETF (XBIL) and SonicShares Global Shipping ETF (BOAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XBIL achieves a 1.56% return, which is significantly lower than BOAT's 33.54% return.

XBIL

• 1D: -0.01%
• 1M: 0.21%
• YTD: 1.56%
• 6M: 1.65%
• 1Y: 3.84%
• 3Y*: 4.59%
• 5Y*: —
• 10Y*: —

BOAT

• 1D: 1.98%
• 1M: -0.71%
• YTD: 33.54%
• 6M: 34.83%
• 1Y: 50.17%
• 3Y*: 28.86%
• 5Y*: —
• 10Y*: —

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

XBIL vs. BOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XBIL US Treasury 6 Month Bill ETF	1.56%	4.17%	5.16%	4.28%
BOAT SonicShares Global Shipping ETF	33.54%	22.77%	5.97%	9.05%

Correlation

The correlation between XBIL and BOAT is -0.13, 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 (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Mar 7, 2023	-0.09

Return for Risk

XBIL vs. BOAT — Risk / Return Rank

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

XBIL

XBIL Risk / Return Rank: 100
XBIL Sharpe Ratio Rank: 100
XBIL Sortino Ratio Rank: 99
XBIL Omega Ratio Rank: 99
XBIL Calmar Ratio Rank: 99
XBIL Martin Ratio Rank: 100

BOAT

BOAT Risk / Return Rank: 79
BOAT Sharpe Ratio Rank: 83
BOAT Sortino Ratio Rank: 79
BOAT Omega Ratio Rank: 75
BOAT Calmar Ratio Rank: 84
BOAT Martin Ratio Rank: 73

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.

XBIL vs. BOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Treasury 6 Month Bill ETF (XBIL) and SonicShares Global Shipping ETF (BOAT). 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.

	XBIL	BOAT	Difference
Sharpe ratio: Return per unit of total volatility	12.61	2.56	+10.06
Sortino ratio: Return per unit of downside risk	38.68	3.35	+35.32
Omega ratio: Gain probability vs. loss probability	10.14	1.42	+8.72
Calmar ratio: Return relative to maximum drawdown	64.36	4.35	+60.01
Martin ratio: Return relative to average drawdown	595.33	13.27	+582.06

XBIL vs. BOAT - Sharpe Ratio Comparison

The current XBIL Sharpe Ratio is 12.61, which is higher than the BOAT Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of XBIL and BOAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XBIL vs. BOAT - Drawdown Comparison

The maximum XBIL drawdown since its inception was -0.08%, smaller than the maximum BOAT drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for XBIL and BOAT.

Drawdown Indicators

	XBIL	BOAT	Difference
Max Drawdown Largest peak-to-trough decline	-0.08%	-33.94%	+33.86%
Max Drawdown (1Y) Largest decline over 1 year	-0.06%	-11.60%	+11.54%
Max Drawdown (3Y) Largest decline over 3 years	-0.07%	-33.94%	+33.87%
Current Drawdown Current decline from peak	-0.01%	-3.96%	+3.95%
Average Drawdown Average peak-to-trough decline	-0.00%	-9.65%	+9.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	3.79%	-3.78%

Volatility

XBIL vs. BOAT - Volatility Comparison

The current volatility for US Treasury 6 Month Bill ETF (XBIL) is 0.13%, while SonicShares Global Shipping ETF (BOAT) has a volatility of 6.12%. This indicates that XBIL experiences smaller price fluctuations and is considered to be less risky than BOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XBIL	BOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.13%	6.12%	-5.99%
Volatility (6M) Calculated over the trailing 6-month period	0.19%	15.68%	-15.49%
Volatility (1Y) Calculated over the trailing 1-year period	0.31%	19.76%	-19.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.38%	25.06%	-24.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.38%	25.06%	-24.68%

XBIL vs. BOAT - Expense Ratio Comparison

XBIL has a 0.15% expense ratio, which is lower than BOAT's 0.69% expense ratio.

Dividends

XBIL vs. BOAT - Dividend Comparison

XBIL's dividend yield for the trailing twelve months is around 3.77%, less than BOAT's 6.14% yield.

Position	TTM	2025	2024	2023	2022	2021
BOAT SonicShares Global Shipping ETF	6.14%	8.08%	13.89%	13.65%	13.57%	1.36%
XBIL US Treasury 6 Month Bill ETF	3.77%	4.01%	4.90%	4.30%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XBIL and BOAT in my portfolio?

XBIL and BOAT have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XBIL or BOAT?

BOAT has higher volatility (6.12%) compared to XBIL (0.13%). In terms of maximum drawdown, XBIL dropped -0.08% vs BOAT's -33.94%.

Which ETF is better, XBIL or BOAT?

On 3-year performance, BOAT leads with 28.86% vs 4.59% for XBIL. On fees, XBIL is cheaper at 0.15% per year. On volatility, XBIL has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XBIL or BOAT?

Over the 3-year period, BOAT has performed better with a 28.86% return vs 4.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XBIL or BOAT?

XBIL is cheaper with a 0.15% expense ratio, compared with 0.69% for BOAT.

Which ETF pays a higher dividend yield, XBIL or BOAT?

BOAT has the higher dividend yield at 6.14%, compared with 3.77% for XBIL.

What is the main difference between XBIL and BOAT?

XBIL is categorized as Ultrashort Bond, while BOAT is Transportation Equities. XBIL tracks ICE BofA US 6-Month Treasury Bill Index - Benchmark TR Gross, while BOAT tracks Solactive Global Shipping Index. They also come from different issuers: US Benchmark Series and Tidal Investments. Their fees differ too: 0.15% for XBIL and 0.69% for BOAT.

Which has better risk-adjusted returns?

XBIL currently has the higher Sharpe Ratio (12.61 vs 2.56), 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.