XBIL vs. USFR

Last updated Jul 17, 2026

XBIL (US Treasury 6 Month Bill ETF) and USFR (WisdomTree Floating Rate Treasury Fund) 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 USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 3 years, XBIL returned 4.59%/yr vs 4.70%/yr for USFR. At a 0.18 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.

Performance

XBIL vs. USFR - Performance Comparison

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

Returns By Period

In the year-to-date period, XBIL achieves a 1.87% return, which is significantly lower than USFR's 2.07% return.

XBIL

• 1D: 0.02%
• 1M: 0.30%
• 6M: 1.75%
• YTD: 1.87%
• 1Y: 3.88%
• 3Y*: 4.59%
• 5Y*: —
• 10Y*: —

USFR

• 1D: 0.00%
• 1M: 0.32%
• 6M: 1.92%
• YTD: 2.07%
• 1Y: 3.95%
• 3Y*: 4.70%
• 5Y*: 3.77%
• 10Y*: 2.50%

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

XBIL vs. USFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XBIL US Treasury 6 Month Bill ETF	1.87%	4.17%	5.16%	4.28%
USFR WisdomTree Floating Rate Treasury Fund	2.07%	4.23%	5.47%	4.32%

Correlation

The correlation between XBIL and USFR is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (All Time) Calculated using the full available price history since Mar 7, 2023	0.18

Return for Risk

XBIL vs. USFR — 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: 100
XBIL Calmar Ratio Rank: 100
XBIL Martin Ratio Rank: 100

USFR

USFR Risk / Return Rank: 100
USFR Sharpe Ratio Rank: 100
USFR Sortino Ratio Rank: 100
USFR Omega Ratio Rank: 100
USFR Calmar Ratio Rank: 100
USFR 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. USFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Treasury 6 Month Bill ETF (XBIL) and WisdomTree Floating Rate Treasury Fund (USFR). 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	USFR	Difference
Sharpe ratio: Return per unit of total volatility	13.01	14.73	-1.73
Sortino ratio: Return per unit of downside risk	40.19	51.39	-11.20
Omega ratio: Gain probability vs. loss probability	11.13	14.02	-2.89
Calmar ratio: Return relative to maximum drawdown	65.13	199.58	-134.45
Martin ratio: Return relative to average drawdown	617.13	797.11	-179.98

XBIL vs. USFR - Sharpe Ratio Comparison

The current XBIL Sharpe Ratio is 13.01, which is comparable to the USFR Sharpe Ratio of 14.73. The chart below compares the historical Sharpe Ratios of XBIL and USFR, 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. USFR - Drawdown Comparison

The maximum XBIL drawdown since its inception was -0.08%, smaller than the maximum USFR drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for XBIL and USFR.

Drawdown Indicators

	XBIL	USFR	Difference
Max Drawdown Largest peak-to-trough decline	-0.08%	-1.36%	+1.28%
Max Drawdown (1Y) Largest decline over 1 year	-0.06%	-0.02%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-0.07%	-0.06%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	—	-0.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.80%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.15%	+0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	0.00%	+0.01%

Volatility

XBIL vs. USFR - Volatility Comparison

US Treasury 6 Month Bill ETF (XBIL) has a higher volatility of 0.12% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.07%. This indicates that XBIL's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XBIL	USFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.12%	0.07%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	0.20%	0.19%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	0.30%	0.27%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.37%	0.39%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.37%	0.77%	-0.40%

XBIL vs. USFR - Expense Ratio Comparison

Both XBIL and USFR 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. USFR - Dividend Comparison

XBIL's dividend yield for the trailing twelve months is around 3.70%, less than USFR's 3.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
USFR WisdomTree Floating Rate Treasury Fund	3.83%	4.15%	5.17%	5.12%	1.78%	0.01%	0.40%	2.08%	1.67%	1.03%	0.29%
XBIL US Treasury 6 Month Bill ETF	3.70%	4.01%	4.90%	4.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XBIL and USFR in my portfolio?

XBIL and USFR have a correlation of 0.21, 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 USFR?

XBIL has higher volatility (0.12%) compared to USFR (0.07%). In terms of maximum drawdown, XBIL dropped -0.08% vs USFR's -1.36%.

Which ETF is better, XBIL or USFR?

On 3-year performance, USFR leads with 4.70% vs 4.59% 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 USFR?

Over the 3-year period, USFR has performed better with a 4.70% 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 USFR?

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

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

USFR has the higher dividend yield at 3.83%, compared with 3.70% for XBIL.

What is the main difference between XBIL and USFR?

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

Which has better risk-adjusted returns?

USFR currently has the higher Sharpe Ratio (14.73 vs 13.01), 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.