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VBIL vs VUSB

Vanguard 0-3 Month Treasury Bill ETF

VBILANasdaq

Vanguard Ultra-Short Bond ETF

VUSBACboe

Overlap

No data

Expense ratio

VBIL −0.04pt a year

VBIL0.06%VUSB0.10%

Avg volume · 30D

VBIL 1.5×the volume

VBIL3MVUSB1.97M

VBIL vs VUSB Performance

Oct 31, 2025 – Oct 30, 2026

+3.7%VBIL+3.7%VUSB

Oct 31, 2025 to Oct 30, 2026. VBIL +3.7%. VUSB +3.7%. Use the arrow keys to read each point.0%1%2%Oct 2025Apr 2026Oct 2026
Expense ratio
VBIL 0.06%, better
VUSB 0.10%
Fund size
VBIL $12.8B
VUSB $9.9B
1Y total return
VBIL +3.7%
VUSB +3.7%
Yield (12M)
VBIL 3.50%
VUSB 4.27%, better
Holdings
VBIL 29
VUSB 1348
Avg volume (30D)
VBIL 3M sh, better
VUSB 1.97M sh
NAV per share
VBIL $75.76
VUSB $49.62
52W range

ETF.net Grade

VBIL: Cost 95, Risk 39, Mission 100, Tradability 84, Holdings 43, Durability 79. VUSB: Cost 84, Risk 53, Mission 100, Tradability 66, Holdings 90, Durability 89.
Pillar letters and Scores for VBIL, VUSB, with each pillar’s weight
PillarVBILVUSB
Cost30% weightA95HigherA84
Mission25% weightA100A100
Risk15% weightD39C53Higher
Tradability15% weightA84HigherB66
Holdings10% weightC43A90Higher
Durability5% weightA79A89Higher

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. VBIL and VUSB 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 ›

VUSB ranks 3rd 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 3AVUSBVanguard Ultra-Short Bond ETFScore 81
  4. Rank 4ATBLLInvesco Short Term Treasury ETFScore 80
  5. Rank 4AVBILVanguard 0-3 Month Treasury Bill ETFScore 80
  6. Rank 4AXHLFBondBloxx Bloomberg Six Month Target Duration US Treasury ETFScore 80

Our read on each fund

ETF.net Research

VBILAVanguard 0-3 Month Treasury Bill ETF

VUSBAVanguard Ultra-Short Bond ETF

In short

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.

VUSB Vanguard's first actively managed bond ETF, run by its in-house fixed income team and priced at 0.10%. It holds investment-grade paper maturing inside two years: a step past a money fund, well short of a real bond fund.

Stated mandate

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.

VUSB The fund seeks current income with limited price volatility while investing in diversified high- and medium-quality fixed-income securities. It expects to maintain a dollar-weighted average maturity of 0–2 years.

Why people hold it

  • 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.
  • VUSB At 0.10%, it costs half the typical ultra-short bond ETF and undercuts the other leaders in the group: SHV, PULS, FLDR and DUSB all charge 0.15%.
  • Active, not adventurous. The managers buy investment-grade bonds (A3-or-better high quality plus BBB-tier medium quality) and hold average maturity to zero-to-two years.vanguard.com
  • Income lands monthly, sourced from roughly 170 bonds, so no single issuer drives the outcome.
  • A multi-billion-dollar fund that trades actively, and the same portfolio team also runs a similar Vanguard ultra-short fund.vanguard.com

Worth knowing

  • 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.
  • VUSB This is not a money market fund. No fixed $1 share price, and the market price can trade above or below the value of the holdings.vanguard.com
  • The mandate allows BBB-tier credit, a notch of risk a Treasury-only neighbor like SHV doesn't take.vanguard.com
  • Bonds this short reprice with short-term rates, so the monthly payout drifts up and down instead of holding a set level.vanguard.com

Full VBIL profile⁠

Full VUSB profile⁠

VBIL vs VUSB 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.

VBIL vs VUSB Cost

Overpaying VUSB vs VBIL

$836

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

  • VBIL 0.06%

    $1,270

  • VUSB 0.10%

    $2,106

$10,000
30 years

Cost over time

  • VBIL 0.06%
  • VUSB 0.10%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$500$1K$1.5K$2K$2.5K051015202530VUSB $2,106VBIL $1,270

Year by year

YearVBILVUSBOverpaying
10$110$183$73
20$432$717$285
30$1,270$2,106$836

Expense ratio

  • 0.06%VBIL, cheaper
  • 0.10%VUSB
  • Middle half of Cash & Ultra-Short Income funds
  • Median 0.18%

VBIL 6th cheapest of 78 funds

VUSB 13th cheapest of 78 funds

VBIL vs VUSB Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
VBIL 3.50%
VUSB 4.27%, better
Payout (12M)
VBIL $2.65
VUSB $2.12
Last payment
VBIL $0.22
VUSB $0.18
Ex-dividend
VBIL Oct 1, 2026
VUSB Oct 1, 2026
Paid on
VBIL Oct 5, 2026
VUSB Oct 5, 2026
Frequency
VBIL Monthly
VUSB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

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
VUSBMonthly · 45 paymentsAll VUSB payments⁠
One bar per payment. 45 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.16; Mar 1, 2023 $0.15; Apr 3, 2023 $0.16; May 1, 2023 $0.17; Jun 1, 2023 $0.18; Jul 3, 2023 $0.18; Aug 1, 2023 $0.19; Sep 1, 2023 $0.19; Oct 2, 2023 $0.20; Nov 1, 2023 $0.20; Dec 1, 2023 $0.21; Dec 22, 2023 $0.22; Feb 1, 2024 $0.22; Mar 1, 2024 $0.20; Apr 1, 2024 $0.23; May 1, 2024 $0.22; Jun 3, 2024 $0.22; Jul 1, 2024 $0.21; Aug 1, 2024 $0.21; Sep 3, 2024 $0.21; Oct 1, 2024 $0.21; Nov 1, 2024 $0.21; Dec 2, 2024 $0.21; Dec 24, 2024 $0.21; Feb 3, 2025 $0.21; Mar 3, 2025 $0.19; Apr 1, 2025 $0.20; May 1, 2025 $0.19; Jun 2, 2025 $0.20; Jul 1, 2025 $0.19; Aug 1, 2025 $0.19; Sep 2, 2025 $0.19; Oct 1, 2025 $0.19; Nov 3, 2025 $0.19; Dec 1, 2025 $0.18; Dec 18, 2025 $0.18; Feb 2, 2026 $0.18; Mar 2, 2026 $0.17; Apr 1, 2026 $0.18; May 1, 2026 $0.18; Jun 1, 2026 $0.17; Jul 1, 2026 $0.18; Aug 3, 2026 $0.17; Sep 1, 2026 $0.17; Oct 1, 2026 $0.18. Use the arrow keys to read each point.$0$0.2520232026YTD

VBIL vs VUSB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
VBIL 0.1%since Mar 2025VUSB 0.8%
Return per unit of riskSharpe ratio, 3 years
VBIL −1.04since Mar 2025VUSB 0.86
Worst fallMax drawdown, 5 years
VBIL −0.1%since Feb 2025VUSB −1.7%
Market sensitivityBeta, 5 years
VBIL −0.01VUSB 0.10

VBIL and VUSB in the news

All news⁠

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