BIL vs FLRN: Yield, Cost and Returns Compared
As of Nov 5, 2026, FLRN yields more: 4.26% (current yield) against 3.66% for BIL. BIL is cheaper to own at 0.14% a year vs 0.15%. Over the same 14 years (Dec 2011 to Oct 2026), FLRN returned 2.5% a year with distributions reinvested, and BIL 1.6%. BIL's income is generally exempt from state income tax; FLRN's is mostly taxable by states.
BILState Street SPDR Bloomberg 1-3 Month T-Bill ETF3.66%current yield| Compared | BIL | FLRN |
|---|---|---|
| YieldCurrent yield | 3.66% | 4.26% |
| Expense ratio | 0.14% | 0.15% |
| Total return, 1 yr | +3.7% | +4.2% |
| Total return, 3 yr (a year) | +4.4% | +5.3% |
| Total return, 5 yr (a year) | +3.7% | +4.5% |
| Total return, 10 yr (a year) | +2.3% | +3.1% |
| Worst drop since Dec 2011 | -0.3% | -4.3% |
| Share price since Dec 2011 | +0% | +2% |
| Pays | Monthly | Monthly |
| Issuer | State Street Investment Management | State Street Investment Management |
| Assets | $48.5B | $3.2B |
| Started | 2007 | 2011 |
| Type | Treasury ETF | Ultra-short bond ETF |
Higher yield
FLRN
4.26%
Lower cost
BIL
0.14%
Better total return
FLRN
2.5%/yr
Smaller worst drop
BIL
-0.3%
Key facts: BIL vs FLRN
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, BIL yields 3.66% (current yield) and FLRN yields 4.26% (current yield).
- BIL's expense ratio is 0.14% and FLRN's is 0.15%: $14 vs $15 a year on $10,000.
- From Dec 2011 to Oct 2026, $10,000 in BIL grew to $12,564 (1.6% a year) and $10,000 in FLRN to $14,332 (2.5% a year), distributions reinvested.
- Their worst month-end drops over that time: -0.3% for BIL and -4.3% for FLRN.
- BIL's income is generally exempt from state income tax, while FLRN's is mostly taxable by states.
Cite this page
SmarterDividends, "BIL vs FLRN: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/bil-vs-flrn
$10,000 in each, Dec 2011 to Oct 2026
Distributions reinvested, month-end values.
BIL became
$12,564
1.6% a year
FLRN became
$14,332
2.5% a year
Year by year
| Year | BIL | FLRN |
|---|---|---|
| 2025 | +4.1% | +5.0% |
| 2024 | +5.2% | +6.3% |
| 2023 | +4.9% | +6.5% |
| 2022 | +1.4% | +1.3% |
| 2021 | −0.1% | +0.4% |
| 2020 | +0.4% | +0.8% |
| 2019 | +2.0% | +4.0% |
| 2018 | +1.7% | +1.4% |
| 2017 | +0.7% | +1.8% |
| 2016 | +0.1% | +1.8% |
| 2015 | −0.1% | +0.4% |
| 2014 | −0.1% | −0.1% |
| 2013 | −0.1% | +0.8% |
| 2012 | −0.0% | +2.9% |
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).
- FLRN · Ultra-short bond ETF
- Holds short-term bonds, which can include corporate or asset-backed debt, for a little more yield than T-bills and a little more price movement.
General information, not tax advice. Every cash fund by yield →
BIL vs FLRN: questions
Is BIL or FLRN better?
It depends on the job. FLRN pays more today (4.26% vs 3.66%), BIL costs less, and FLRN has the better total return over Dec 2011 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 FLRN?
FLRN, at 4.26% against 3.66% for BIL as of Nov 5, 2026. On $10,000 that's about $426 vs $366 a year at today's rates.
Which has the better total return?
FLRN. From Dec 2011 to Oct 2026, it returned 2.5% a year with distributions reinvested, against 1.6% for BIL. $10,000 became $14,332 vs $12,564.
Which is cheaper, BIL or FLRN?
BIL, with a 0.14% expense ratio against 0.15%.
How are BIL and FLRN taxed?
BIL: Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies). FLRN: Holds short-term bonds, which can include corporate or asset-backed debt, for a little more yield than T-bills and a little more price movement. 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. FLRN leads on 5 of 7 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.