TBIL vs VYM
F/m US Treasury 3 Month Bill ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | TBIL | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.04% | |
| AUM | $7.2B | $79.0B | |
| Dividend Yield | 4.12% | 2.86% | |
| Holdings | 4 | 568 | |
| YTD Return | +2.13% | +15.80% | |
| 1Y Return | +3.84% | +26.12% | |
| 3Y Return (annualized) | +4.56% | +18.25% | |
| 5Y Return (annualized) | - | +12.51% | |
| Volatility (annualized) | 0.3% | 14.6% | |
| Max Drawdown | -0.1% | -58.8% | |
| Fund Family | US Benchmark Series | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Aug 8, 2022 | Nov 10, 2006 |
TBIL vs VYM Performance
F/m US Treasury 3 Month Bill ETF (TBIL) is a ETF from US Benchmark Series and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year TBIL returned +3.84% while VYM returned +26.12%. Year to date, TBIL is up 2.13% versus a gain of 15.80% for VYM.
Over three years, TBIL compounded at +4.56% per year against +18.25% for VYM. Across the full 4-year window we track, VYM has the edge at +7.07% annualized vs +4.51%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 0.3% for TBIL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -0.1% for TBIL and -58.8% for VYM. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.19. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
TBIL charges 0.15% per year while VYM charges 0.04%. On a $10,000 position that is $15 vs $4 annually, a gap of $11 per year that compounds over a long holding period. On income, TBIL currently yields 4.12% against 2.86% for VYM.
Holdings Overlap
TBIL and VYM share 0 holdings out of 559 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, TBIL or VYM?
TBIL has an expense ratio of 0.15% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $11 per year of difference.
Which performed better, TBIL or VYM?
Over the past year TBIL returned +3.84% vs +26.12% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (4 years), TBIL annualized +4.51% vs +7.07% for VYM. Past performance does not guarantee future results.
Which is riskier, TBIL or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 0.3% for TBIL. Worst drawdown: TBIL -0.1% vs VYM -58.8%.
Should I hold both TBIL and VYM?
TBIL and VYM have a monthly-return correlation of -0.19, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between TBIL and VYM?
TBIL and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 559 unique securities.
Which pays a higher dividend, TBIL or VYM?
TBIL yields 4.12% while VYM yields 2.86%, so TBIL currently pays the higher dividend yield.
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