XBIL vs. FHQFX
XBIL (US Treasury 6 Month Bill ETF) and FHQFX (Fidelity Series Treasury Bill Index Fund) are both Ultrashort Bond funds. Over the past 3 years, XBIL returned 4.60%/yr vs 4.64%/yr for FHQFX. At a 0.09 correlation, their price movements are largely independent. XBIL charges 0.15%/yr vs 0.00%/yr for FHQFX.
Performance
XBIL vs. FHQFX - Performance Comparison
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Returns By Period
In the year-to-date period, XBIL achieves a 1.57% return, which is significantly higher than FHQFX's 1.41% return.
XBIL
- 1D
- 0.01%
- 1M
- 0.22%
- YTD
- 1.57%
- 6M
- 1.67%
- 1Y
- 3.82%
- 3Y*
- 4.60%
- 5Y*
- —
- 10Y*
- —
FHQFX
- 1D
- 0.00%
- 1M
- 0.31%
- YTD
- 1.41%
- 6M
- 1.74%
- 1Y
- 4.08%
- 3Y*
- 4.64%
- 5Y*
- 3.04%
- 10Y*
- —
XBIL vs. FHQFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XBIL US Treasury 6 Month Bill ETF | 1.57% | 4.17% | 5.16% | 4.28% |
FHQFX Fidelity Series Treasury Bill Index Fund | 1.41% | 4.37% | 5.56% | 3.80% |
Correlation
The correlation between XBIL and FHQFX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2023 | 0.09 |
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Return for Risk
XBIL vs. FHQFX — Risk / Return Rank
XBIL
FHQFX
XBIL vs. FHQFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 6 Month Bill ETF (XBIL) and Fidelity Series Treasury Bill Index Fund (FHQFX). 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 | FHQFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.87 | ||
| Sortino ratioReturn per unit of downside risk | +9.87 | ||
| Omega ratioGain probability vs. loss probability | 10.10 | 20.94 | -10.85 |
| Calmar ratioReturn relative to maximum drawdown | 64.01 | 41.79 | +22.22 |
| Martin ratioReturn relative to average drawdown | 592.11 | 119.47 | +472.65 |
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Drawdowns
XBIL vs. FHQFX - Drawdown Comparison
The maximum XBIL drawdown since its inception was -0.08%, smaller than the maximum FHQFX drawdown of -0.70%. Use the drawdown chart below to compare losses from any high point for XBIL and FHQFX.
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Drawdown Indicators
| XBIL | FHQFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.08% | -0.70% | +0.62% |
Max Drawdown (1Y)Largest decline over 1 year | -0.06% | -0.10% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -0.07% | -0.70% | +0.63% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.70% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -0.08% | +0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.03% | -0.02% |
Volatility
XBIL vs. FHQFX - Volatility Comparison
The current volatility for US Treasury 6 Month Bill ETF (XBIL) is 0.12%, while Fidelity Series Treasury Bill Index Fund (FHQFX) has a volatility of 0.31%. This indicates that XBIL experiences smaller price fluctuations and is considered to be less risky than FHQFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBIL | FHQFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.12% | 0.31% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 0.74% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.31% | 1.14% | -0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.38% | 1.26% | -0.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.38% | 1.18% | -0.80% |
XBIL vs. FHQFX - Expense Ratio Comparison
XBIL has a 0.15% expense ratio, which is higher than FHQFX's 0.00% 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
XBIL vs. FHQFX - Dividend Comparison
XBIL's dividend yield for the trailing twelve months is around 3.76%, less than FHQFX's 3.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FHQFX Fidelity Series Treasury Bill Index Fund | 3.89% | 4.16% | 5.09% | 4.67% | 0.00% | 0.01% | 0.06% |
XBIL US Treasury 6 Month Bill ETF | 3.76% | 4.01% | 4.90% | 4.30% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XBIL and FHQFX 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.
FHQFX has higher volatility (0.31%) compared to XBIL (0.12%). In terms of maximum drawdown, XBIL dropped -0.08% vs FHQFX's -0.70%.
XBIL currently has the higher Sharpe Ratio (12.56 vs 3.68), 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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