XBIL vs. TFLO

Last updated Jun 24, 2026

XBIL (US Treasury 6 Month Bill ETF) and TFLO (iShares Treasury Floating Rate Bond 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 TFLO is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Index. Both are passively managed. Over the past 3 years, XBIL returned 4.60%/yr vs 4.72%/yr for TFLO. At a 0.26 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.

Performance

XBIL vs. TFLO - Performance Comparison

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

Returns By Period

In the year-to-date period, XBIL achieves a 1.57% return, which is significantly lower than TFLO's 1.81% return.

XBIL

• 1D: 0.01%
• 1M: 0.22%
• YTD: 1.57%
• 6M: 1.67%
• 1Y: 3.82%
• 3Y*: 4.60%
• 5Y*: —
• 10Y*: —

TFLO

• 1D: 0.02%
• 1M: 0.31%
• YTD: 1.81%
• 6M: 1.91%
• 1Y: 3.99%
• 3Y*: 4.72%
• 5Y*: 3.68%
• 10Y*: 2.38%

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

XBIL vs. TFLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XBIL US Treasury 6 Month Bill ETF	1.57%	4.17%	5.16%	4.28%
TFLO iShares Treasury Floating Rate Bond ETF	1.81%	4.22%	5.34%	4.33%

Correlation

The correlation between XBIL and TFLO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (All Time) Calculated using the full available price history since Mar 7, 2023	0.26

Return for Risk

XBIL vs. TFLO — 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: 100
XBIL Omega Ratio Rank: 99
XBIL Calmar Ratio Rank: 100
XBIL Martin Ratio Rank: 100

TFLO

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

XBIL vs. TFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Treasury 6 Month Bill ETF (XBIL) and iShares Treasury Floating Rate Bond ETF (TFLO). 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	TFLO	Difference
Sharpe ratio: Return per unit of total volatility	12.56	14.11	-1.55
Sortino ratio: Return per unit of downside risk	38.47	51.12	-12.65
Omega ratio: Gain probability vs. loss probability	10.10	14.01	-3.91
Calmar ratio: Return relative to maximum drawdown	64.01	202.27	-138.25
Martin ratio: Return relative to average drawdown	592.11	827.47	-235.36

XBIL vs. TFLO - Sharpe Ratio Comparison

The current XBIL Sharpe Ratio is 12.56, which is comparable to the TFLO Sharpe Ratio of 14.11. The chart below compares the historical Sharpe Ratios of XBIL and TFLO, 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. TFLO - Drawdown Comparison

The maximum XBIL drawdown since its inception was -0.08%, smaller than the maximum TFLO drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for XBIL and TFLO.

Drawdown Indicators

	XBIL	TFLO	Difference
Max Drawdown Largest peak-to-trough decline	-0.08%	-5.01%	+4.93%
Max Drawdown (1Y) Largest decline over 1 year	-0.06%	-0.02%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-0.07%	-0.04%	-0.03%
Max Drawdown (5Y) Largest decline over 5 years	—	-0.13%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.16%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.10%	+0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	0.00%	+0.01%

Volatility

XBIL vs. TFLO - Volatility Comparison

US Treasury 6 Month Bill ETF (XBIL) has a higher volatility of 0.12% compared to iShares Treasury Floating Rate Bond ETF (TFLO) at 0.08%. This indicates that XBIL's price experiences larger fluctuations and is considered to be riskier than TFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XBIL	TFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.12%	0.08%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	0.19%	0.20%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	0.31%	0.29%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.38%	0.35%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.38%	0.46%	-0.08%

XBIL vs. TFLO - Expense Ratio Comparison

Both XBIL and TFLO have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

XBIL vs. TFLO - Dividend Comparison

XBIL's dividend yield for the trailing twelve months is around 3.76%, less than TFLO's 3.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TFLO iShares Treasury Floating Rate Bond ETF	3.89%	4.16%	5.21%	4.88%	1.68%	0.00%	0.36%	2.08%	1.65%	0.86%	0.31%	0.15%
XBIL US Treasury 6 Month Bill ETF	3.76%	4.01%	4.90%	4.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XBIL and TFLO in my portfolio?

XBIL and TFLO have a correlation of 0.27, 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 TFLO?

XBIL has higher volatility (0.12%) compared to TFLO (0.08%). In terms of maximum drawdown, XBIL dropped -0.08% vs TFLO's -5.01%.

Which ETF is better, XBIL or TFLO?

On 3-year performance, TFLO leads with 4.72% vs 4.60% for XBIL. Both ETFs have the same 0.15% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XBIL or TFLO?

Over the 3-year period, TFLO has performed better with a 4.72% return vs 4.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XBIL or TFLO?

XBIL and TFLO have the same expense ratio: 0.15% per year.

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

TFLO has the higher dividend yield at 3.89%, compared with 3.76% for XBIL.

What is the main difference between XBIL and TFLO?

XBIL is categorized as Ultrashort Bond, while TFLO is Government Bonds. XBIL tracks ICE BofA US 6-Month Treasury Bill Index - Benchmark TR Gross, while TFLO tracks Bloomberg U.S. Treasury Floating Rate Index. They also come from different issuers: US Benchmark Series and iShares.

Which has better risk-adjusted returns?

TFLO currently has the higher Sharpe Ratio (14.11 vs 12.56), 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.