BIL vs CSHI: Yield, Cost and Returns Compared
As of Nov 5, 2026, CSHI yields more: 4.81% (current yield) against 3.66% for BIL. BIL is cheaper to own at 0.14% a year vs 0.38%. Over the same 4 years (Aug 2022 to Oct 2026), CSHI returned 5.4% a year with distributions reinvested, and BIL 4.4%. BIL's income is generally exempt from state income tax; CSHI's is partly from Treasuries and partly from options.
BILState Street SPDR Bloomberg 1-3 Month T-Bill ETF3.66%current yield| Compared | BIL | CSHI |
|---|---|---|
| YieldCurrent yield | 3.66% | 4.81% |
| Expense ratio | 0.14% | 0.38% |
| Total return, 1 yr | +3.7% | +4.8% |
| Total return, 3 yr (a year) | +4.4% | +5.3% |
| Total return, 5 yr (a year) | +3.7% | — |
| Total return, 10 yr (a year) | +2.3% | — |
| Worst drop since Aug 2022 | 0.0% | 0.0% |
| Share price since Aug 2022 | +0% | −1% |
| Pays | Monthly | Monthly |
| Issuer | State Street Investment Management | Neos |
| Assets | $48.5B | $2.1B |
| Started | 2007 | 2022 |
| Type | Treasury ETF | T-bills plus options |
Higher yield
CSHI
4.81%
Lower cost
BIL
0.14%
Better total return
CSHI
5.4%/yr
Smaller worst drop
BIL
0.0%
Key facts: BIL vs CSHI
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, BIL yields 3.66% (current yield) and CSHI yields 4.81% (current yield).
- BIL's expense ratio is 0.14% and CSHI's is 0.38%: $14 vs $38 a year on $10,000.
- From Aug 2022 to Oct 2026, $10,000 in BIL grew to $11,968 (4.4% a year) and $10,000 in CSHI to $12,437 (5.4% a year), distributions reinvested.
- Their worst month-end drops over that time: 0.0% for BIL and 0.0% for CSHI.
- BIL's income is generally exempt from state income tax, while CSHI's is partly from Treasuries and partly from options.
Cite this page
SmarterDividends, "BIL vs CSHI: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/bil-vs-cshi
$10,000 in each, Aug 2022 to Oct 2026
Distributions reinvested, month-end values.
BIL became
$11,968
4.4% a year
CSHI became
$12,437
5.4% a year
Year by year
| Year | BIL | CSHI |
|---|---|---|
| 2025 | +4.1% | +5.1% |
| 2024 | +5.2% | +5.6% |
| 2023 | +4.9% | +6.2% |
Total return each calendar year, distributions reinvested.
What each holds and how it's taxed
- BIL · Treasury ETF
- Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies).
- CSHI · T-bills plus options
- Holds Treasury bills and sells options for extra income, so it pays more than a T-bill fund but its price can move more.
General information, not tax advice. Every cash fund by yield →
BIL vs CSHI: questions
Is BIL or CSHI better?
It depends on the job. CSHI pays more today (4.81% vs 3.66%), BIL costs less, and CSHI has the better total return over Aug 2022 to Oct 2026, with BIL holding up better in its worst stretch. For cash you may need soon, yield after tax and how easily you can get the money out matter more than past returns.
Which pays a higher dividend, BIL or CSHI?
CSHI, at 4.81% against 3.66% for BIL as of Nov 5, 2026. On $10,000 that's about $481 vs $366 a year at today's rates.
Which has the better total return?
CSHI. From Aug 2022 to Oct 2026, it returned 5.4% a year with distributions reinvested, against 4.4% for BIL. $10,000 became $12,437 vs $11,968.
Which is cheaper, BIL or CSHI?
BIL, with a 0.14% expense ratio against 0.38%.
How are BIL and CSHI taxed?
BIL: Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies). CSHI: Holds Treasury bills and sells options for extra income, so it pays more than a T-bill fund but its price can move more. General information, not tax advice.
Related comparisons
Yields, costs and holdings as each fund reports them (via Yahoo Finance), updated daily; returns from month-end prices with distributions reinvested. CSHI leads on 3 of 4 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.