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ICSH vs VBIL

iShares Ultra Short Duration Bond Active ETF

ICSHACboe

Vanguard 0-3 Month Treasury Bill ETF

VBILANasdaq

Overlap

No data

Expense ratio

VBIL −0.02pt a year

ICSH0.08%VBIL0.06%

Avg volume · 30D

VBIL 1.8×the volume

ICSH1.64MVBIL3M

ICSH vs VBIL Performance

Oct 31, 2025 – Oct 30, 2026

+3.6%ICSH+3.7%VBIL

Oct 31, 2025 to Oct 30, 2026. ICSH +3.6%. VBIL +3.7%. Use the arrow keys to read each point.0%1%2%Oct 2025Apr 2026Oct 2026
Expense ratio
ICSH 0.08%
VBIL 0.06%, better
Fund size
ICSH $8.97B
VBIL $12.8B
1Y total return
ICSH +3.6%
VBIL +3.7%, better
Yield (12M)
ICSH 4.13%, better
VBIL 3.50%
Holdings
ICSH 408
VBIL 29
Avg volume (30D)
ICSH 1.64M sh
VBIL 3M sh, better
NAV per share
ICSH $50.47
VBIL $75.76
52W range

ETF.net Grade

ICSH: Cost 89, Risk 53, Mission 100, Tradability 76, Holdings 95, Durability 90. VBIL: Cost 95, Risk 39, Mission 100, Tradability 84, Holdings 43, Durability 79.
Pillar letters and Scores for ICSH, VBIL, with each pillar’s weight
PillarICSHVBIL
Cost30% weightA89A95Higher
Mission25% weightA100A100
Risk15% weightC53HigherD39
Tradability15% weightA76A84Higher
Holdings10% weightA95HigherC43
Durability5% weightA90HigherA79

Rank among Cash & Ultra-Short Income funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. ICSH and VBIL are both graded against the same 78 Cash & Ultra-Short Income funds, so their Grades compare head to head.

Cash & Ultra-Short Income⁠

Category · 78 funds
See all 78 ›

ICSH ranks 1st and VBIL 4th of 78 funds in the Cash & Ultra-Short Income Category.

  1. Rank 1AICSHiShares Ultra Short Duration Bond Active ETFScore 85
  2. Rank 2ACLIPGlobal X 1-3 Month T-Bill ETFScore 82
  3. Rank 4ATBLLInvesco Short Term Treasury ETFScore 80
  4. Rank 4AVBILVanguard 0-3 Month Treasury Bill ETFScore 80
  5. Rank 4AXHLFBondBloxx Bloomberg Six Month Target Duration US Treasury ETFScore 80

Our read on each fund

ETF.net Research

ICSHAiShares Ultra Short Duration Bond Active ETF

VBILAVanguard 0-3 Month Treasury Bill ETF

In short

ICSH BlackRock's active cash-parking sleeve, live since 2013: roughly 250 ultra-short investment-grade bonds and money market instruments, run for current income with preservation of capital, at 0.08% a year.

VBIL Vanguard's cash-parking ETF: roughly two dozen Treasury bills, none maturing more than three months out, at 0.06% a year. It landed in 2025 and undercut most of the T-bill shelf on price.

Stated mandate

ICSH The fund seeks current income consistent with preservation of capital through actively managed exposure to ultra-short-term investment-grade bonds and money market instruments.

VBIL VBIL seeks to track the performance of a market-weighted Treasury index with an ultra-short-term dollar-weighted average maturity, using a passive approach designed to follow the Bloomberg U.S. Treasury Bills 0-3 Months Index.

Why people hold it

  • ICSH At 0.08% a year it undercuts the typical cash-alternative ETF, which charges about 0.20%, and comes in below top-rated rivals like FLUD and JPST.
  • Actively managed rather than a fixed ladder: the team picks across ultra-short investment-grade bonds and money market instruments, spread over roughly 250 positions.ishares.com
  • Trading since 2013 and now a multi-billion-dollar fund that changes hands actively, giving it one of the longer records in the cash-alternative aisle.
  • Sits in the top quartile of its cash-alternative peer group, helped by high-quality holdings and low cost.
  • VBIL It charges 0.06% a year, well under the 0.14% median for 0-1 year Treasury funds and under the category veteran, BIL.
  • Plain passive mandate on the Bloomberg U.S. Treasury Bills 0-3 Months Index, tracked very closely. One of the tightest implementations in its peer group.vanguard.com
  • Roughly two dozen bills backed by the US Treasury, every one maturing inside three months. Interest goes out monthly.
  • A multi-billion-dollar fund with active daily trading, which tends to keep bid-ask costs small.

Worth knowing

  • ICSH Not a money market fund. The share price floats, and preservation of capital is the stated aim, not a promise.ishares.com
  • It holds investment-grade corporate paper alongside money market instruments, so it carries credit risk a Treasury-bill-only fund does not.ishares.com
  • It pays monthly, but the amount rides short-term rates, and as an active fund its results can drift from its 6-month T-bill reference index either way.
  • VBIL The payout floats with short-term rates. Monthly income rises and falls with what bills yield, and nothing about it is fixed.
  • It opened in 2025, so its live record is short next to T-bill funds that have been running for years.
  • Stretching maturity gets cheaper: peer XONE targets one-year duration at 0.03%, trading lower cost for more rate sensitivity.

Full ICSH profile⁠

Full VBIL profile⁠

ICSH vs VBIL Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ICSH vs VBIL Cost

Overpaying ICSH vs VBIL

$419

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • ICSH 0.08%

    $1,689

  • VBIL 0.06%

    $1,270

$10,000
30 years

Cost over time

  • ICSH 0.08%
  • VBIL 0.06%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$500$1K$1.5K$2K051015202530ICSH $1,689VBIL $1,270

Year by year

YearICSHVBILOverpaying
10$147$110$37
20$575$432$143
30$1,689$1,270$419

Expense ratio

  • 0.08%ICSH
  • 0.06%VBIL, cheaper
  • Middle half of Cash & Ultra-Short Income funds
  • Median 0.18%

VBIL 6th cheapest of 78 funds

ICSH 10th cheapest of 78 funds

ICSH vs VBIL Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
ICSH 4.13%, better
VBIL 3.50%
Payout (12M)
ICSH $2.08
VBIL $2.65
Last payment
ICSH $0.17
VBIL $0.22
Ex-dividend
ICSH Oct 1, 2026
VBIL Oct 1, 2026
Paid on
ICSH Oct 6, 2026
VBIL Oct 5, 2026
Frequency
ICSH Monthly
VBIL Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

ICSHMonthly · 45 paymentsAll ICSH payments⁠
One bar per payment. 45 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.20; Mar 1, 2023 $0.16; Apr 3, 2023 $0.18; May 1, 2023 $0.18; Jun 1, 2023 $0.19; Jul 3, 2023 $0.20; Aug 1, 2023 $0.22; Sep 1, 2023 $0.22; Oct 2, 2023 $0.20; Nov 1, 2023 $0.23; Dec 1, 2023 $0.22; Dec 14, 2023 $0.22; Feb 1, 2024 $0.23; Mar 1, 2024 $0.22; Apr 1, 2024 $0.23; May 1, 2024 $0.22; Jun 3, 2024 $0.23; Jul 1, 2024 $0.22; Aug 1, 2024 $0.22; Sep 3, 2024 $0.22; Oct 1, 2024 $0.22; Nov 1, 2024 $0.21; Dec 2, 2024 $0.21; Dec 18, 2024 $0.21; Feb 3, 2025 $0.20; Mar 3, 2025 $0.18; Apr 1, 2025 $0.20; May 1, 2025 $0.19; Jun 2, 2025 $0.20; Jul 1, 2025 $0.20; Aug 1, 2025 $0.21; Sep 2, 2025 $0.19; Oct 1, 2025 $0.19; Nov 3, 2025 $0.19; Dec 1, 2025 $0.18; Dec 19, 2025 $0.19; Feb 2, 2026 $0.17; Mar 2, 2026 $0.16; Apr 1, 2026 $0.17; May 1, 2026 $0.17; Jun 1, 2026 $0.17; Jul 1, 2026 $0.17; Aug 3, 2026 $0.17; Sep 1, 2026 $0.17; Oct 1, 2026 $0.17. Use the arrow keys to read each point.$0$0.2520232026YTD
VBILMonthly · 19 paymentsAll VBIL payments⁠
One bar per payment. 19 payments from 2023 to 2026 YTD. Apr 1, 2025 $0.23; May 1, 2025 $0.21; Jun 2, 2025 $0.22; Jul 1, 2025 $0.24; Aug 1, 2025 $0.25; Sep 2, 2025 $0.25; Oct 1, 2025 $0.24; Nov 3, 2025 $0.24; Dec 1, 2025 $0.23; Dec 18, 2025 $0.23; Feb 2, 2026 $0.23; Mar 2, 2026 $0.20; Apr 1, 2026 $0.21; May 1, 2026 $0.22; Jun 1, 2026 $0.22; Jul 1, 2026 $0.21; Aug 3, 2026 $0.23; Sep 1, 2026 $0.22; Oct 1, 2026 $0.22. Use the arrow keys to read each point.$0$0.2520232026YTD

ICSH vs VBIL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ICSH 0.4%VBIL 0.1%since Mar 2025
Return per unit of riskSharpe ratio, 3 years
ICSH 0.87VBIL −1.04since Mar 2025
Worst fallMax drawdown, 5 years
ICSH −0.7%VBIL −0.1%since Feb 2025
Market sensitivityBeta, 5 years
ICSH 0.04VBIL −0.01

ICSH and VBIL in the news

All news⁠

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