XBIL vs. VGSH
XBIL (US Treasury 6 Month Bill ETF) and VGSH (Vanguard Short-Term Treasury 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 VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 3 years, XBIL returned 4.59%/yr vs 4.18%/yr for VGSH. At a 0.37 correlation, their price movements are largely independent. XBIL charges 0.15%/yr vs 0.03%/yr for VGSH.
Performance
XBIL vs. VGSH - Performance Comparison
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Returns By Period
In the year-to-date period, XBIL achieves a 1.56% return, which is significantly higher than VGSH's 0.41% return.
XBIL
- 1D
- -0.01%
- 1M
- 0.21%
- YTD
- 1.56%
- 6M
- 1.65%
- 1Y
- 3.84%
- 3Y*
- 4.59%
- 5Y*
- —
- 10Y*
- —
VGSH
- 1D
- -0.09%
- 1M
- 0.06%
- YTD
- 0.41%
- 6M
- 0.53%
- 1Y
- 3.04%
- 3Y*
- 4.18%
- 5Y*
- 1.84%
- 10Y*
- 1.70%
XBIL vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XBIL US Treasury 6 Month Bill ETF | 1.56% | 4.17% | 5.16% | 4.28% |
VGSH Vanguard Short-Term Treasury ETF | 0.41% | 5.07% | 4.00% | 4.44% |
Correlation
The correlation between XBIL and VGSH is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2023 | 0.37 |
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Return for Risk
XBIL vs. VGSH — Risk / Return Rank
XBIL
VGSH
XBIL vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 6 Month Bill ETF (XBIL) and Vanguard Short-Term Treasury ETF (VGSH). 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 | VGSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +10.28 | ||
| Sortino ratioReturn per unit of downside risk | +34.99 | ||
| Omega ratioGain probability vs. loss probability | 10.14 | 1.49 | +8.66 |
| Calmar ratioReturn relative to maximum drawdown | 64.36 | 3.46 | +60.90 |
| Martin ratioReturn relative to average drawdown | 595.33 | 13.29 | +582.03 |
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Drawdowns
XBIL vs. VGSH - Drawdown Comparison
The maximum XBIL drawdown since its inception was -0.08%, smaller than the maximum VGSH drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for XBIL and VGSH.
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Drawdown Indicators
| XBIL | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.08% | -5.70% | +5.62% |
Max Drawdown (1Y)Largest decline over 1 year | -0.06% | -0.88% | +0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -0.07% | -0.97% | +0.90% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.70% | — |
Current DrawdownCurrent decline from peak | -0.01% | -0.36% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -0.60% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.23% | -0.22% |
Volatility
XBIL vs. VGSH - Volatility Comparison
The current volatility for US Treasury 6 Month Bill ETF (XBIL) is 0.13%, while Vanguard Short-Term Treasury ETF (VGSH) has a volatility of 0.45%. This indicates that XBIL experiences smaller price fluctuations and is considered to be less risky than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBIL | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 0.45% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 0.96% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.31% | 1.31% | -1.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.38% | 1.97% | -1.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.38% | 1.58% | -1.20% |
XBIL vs. VGSH - Expense Ratio Comparison
XBIL has a 0.15% expense ratio, which is higher than VGSH's 0.03% 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. VGSH - Dividend Comparison
XBIL's dividend yield for the trailing twelve months is around 3.77%, less than VGSH's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGSH Vanguard Short-Term Treasury ETF | 3.88% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
XBIL US Treasury 6 Month Bill ETF | 3.77% | 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
XBIL and VGSH have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGSH has higher volatility (0.45%) compared to XBIL (0.13%). In terms of maximum drawdown, XBIL dropped -0.08% vs VGSH's -5.70%.
On 3-year performance, XBIL leads with 4.59% vs 4.18% for VGSH. On fees, VGSH is cheaper at 0.03% 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.
Over the 3-year period, XBIL has performed better with a 4.59% return vs 4.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGSH is cheaper with a 0.03% expense ratio, compared with 0.15% for XBIL.
VGSH has the higher dividend yield at 3.88%, compared with 3.77% for XBIL.
XBIL is categorized as Ultrashort Bond, while VGSH is Government Bonds. XBIL tracks ICE BofA US 6-Month Treasury Bill Index - Benchmark TR Gross, while VGSH tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: US Benchmark Series and Vanguard. Their fees differ too: 0.15% for XBIL and 0.03% for VGSH.
XBIL currently has the higher Sharpe Ratio (12.61 vs 2.33), 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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