OBIL vs VBIL: Grades, Fees and Holdings Compared

US Treasury 12 Month Bill ETF

OBILBNasdaq

Vanguard 0-3 Month Treasury Bill ETF

VBILANasdaq

Overlap

No data

Expense ratio

VBIL −0.09pt a year

OBIL0.15%VBIL0.06%

Avg volume · 30D

VBIL 64.1×the volume

OBIL47.5KVBIL3.04M

OBIL vs VBIL Performance

Nov 4, 2025 – Nov 4, 2026

+3.3%OBIL+3.7%VBIL

Expense ratio: OBIL 0.15%; VBIL 0.06%, better
Fund size: OBIL $337M; VBIL $12.8B
1Y total return: OBIL +3.3%; VBIL +3.7%, better
Yield (12M): OBIL 3.73%, better; VBIL 3.51%
Holdings: OBIL 2; VBIL 29
Avg volume (30D): OBIL 47.5K sh; VBIL 3.04M sh, better
NAV per share: OBIL $49.91; VBIL $75.54
52W range

ETF.net Grade

Pillar letters and Scores for OBIL, VBIL, with each pillar’s weight
Pillar	OBIL	VBIL
Cost30% weight	B66	A95Higher
Mission25% weight	A100	A100
Risk15% weight	C40	C49Higher
Tradability15% weight	C46	A84Higher
Holdings10% weight	D35	C42Higher
Durability5% weight	C44	A79Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. OBIL 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 ›

VBIL ranks 3rd and OBIL 32nd of 78 funds in the Cash & Ultra-Short Income Category.

Rank 1AICSHiShares Ultra Short Duration Bond Active ETFScore 84
Rank 2ACLIPGlobal X 1-3 Month T-Bill ETFScore 82
Rank 3AVBILVanguard 0-3 Month Treasury Bill ETFScore 81
Rank 3AVUSBVanguard Ultra-Short Bond ETFScore 81
Rank 32BNUSBNuveen Ultra Short IncomeScore 63
Rank 32BOBILUS Treasury 12 Month Bill ETFScore 63
Rank 34BCGOVCorgi 0-3 Month T-Bill ETFScore 61

Our read on each fund

ETF.net Research

OBILBUS Treasury 12 Month Bill ETF

VBILAVanguard 0-3 Month Treasury Bill ETF

In short

OBIL Most cash-parking ETFs blend a ladder of short bills. OBIL points at one spot on the curve instead: the 12-month Treasury bill. A precision instrument from F/m's benchmark lineup, and it pays monthly.

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

OBIL The fund seeks investment results that correspond to the performance of its stated underlying benchmark.

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

OBIL Aims at a single point on the Treasury curve, the 12-month bill, rather than a blended basket of maturities. Rare precision in a category built on averages.
Has tracked its stated benchmark closely, which is the whole job for a fund like this.
Distributes monthly, so income arrives on a steady cadence rather than in quarterly lumps.
Live since 2022 and has gathered a few hundred million dollars, real staying power for a niche single-maturity idea.

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

OBIL At 0.15%, it costs more than the T-bill cohort's typical fund and well more than the cheapest rivals, XONE at 0.03% and VBIL at 0.06%.
Trades thinly next to cohort giants like BIL, which can mean wider spreads on the way in and out.
A 12-month bill carries more rate sensitivity than the 0-3 month peers (VBIL, CLIP) it sits beside in this category.

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 OBIL profile⁠

Full VBIL profile⁠

OBIL vs VBIL Holdings

How OBIL and VBIL differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Asset classFixed Income100%
Countryby domicile100%

Sector

No Sector split for OBIL and VBIL.

Country, concentration and asset class

Country by domicile

Country weights in OBIL and VBIL, widest gap first
Country	More in OBILMore in VBIL	Gap	OBIL	VBIL
United States		Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

OBIL100.0%
VBIL52.0%

Securities held

OBIL1
VBIL27

Asset class

OBIL: Fixed Income
VBIL: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. OBIL holds 1 securities, VBIL 27.

All 2 OBIL holdings⁠All 27 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.

OBIL vs VBIL Cost

Overpaying OBIL vs VBIL

$1,867

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

OBIL 0.15%
$3,137
VBIL 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

OBIL 0.15%
VBIL 0.06%
Overpaying

Year by year

Year	OBIL	VBIL	Overpaying
10	$274	$110	$164
20	$1,071	$432	$639
30	$3,137	$1,270	$1,867

Expense ratio

0.15%OBIL
0.06%VBIL, cheaper

VBIL0.06%OBIL0.15%

0.03%1.00%

Middle half of Cash & Ultra-Short Income funds
Median 0.18%

VBIL 6th cheapest of 78 funds

OBIL 23rd cheapest of 78 funds

OBIL vs VBIL Dividends

Last 12 months to Nov 4, 2026

Yield (12M): OBIL 3.73%, better; VBIL 3.51%
Payout (12M): OBIL $1.86; VBIL $2.65
Last payment: OBIL $0.18; VBIL $0.24
Ex-dividend: OBIL Oct 27, 2026; VBIL Nov 2, 2026
Paid on: OBIL Oct 28, 2026; VBIL Nov 4, 2026
Frequency: OBIL Monthly; VBIL Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

OBILMonthly · 46 paymentsAll OBIL payments⁠

VBILMonthly · 20 paymentsAll VBIL payments⁠

OBIL vs VBIL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: OBIL 0.7%VBIL 0.1%since Mar 2025
Return per unit of riskSharpe ratio, 3 years: OBIL −0.25VBIL −1.04since Mar 2025
Worst fallMax drawdown, 5 years: OBIL −0.3%since Nov 2022VBIL −0.1%since Feb 2025
Market sensitivityBeta, 5 years: OBIL 0.07VBIL −0.01; Market = 1

OBIL and VBIL in the news

All news⁠

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