BIL vs ICSH: Yield, Cost and Returns Compared
As of Nov 5, 2026, ICSH yields more: 4.13% (current yield) against 3.66% for BIL. ICSH is cheaper to own at 0.08% a year vs 0.14%. Over the same 12 years (Dec 2013 to Oct 2026), ICSH returned 2.3% a year with distributions reinvested, and BIL 1.8%. BIL's income is generally exempt from state income tax; ICSH's is mostly taxable by states.
BILState Street SPDR Bloomberg 1-3 Month T-Bill ETF3.66%current yield| Compared | BIL | ICSH |
|---|---|---|
| YieldCurrent yield | 3.66% | 4.13% |
| Expense ratio | 0.14% | 0.08% |
| Total return, 1 yr | +3.7% | +3.6% |
| Total return, 3 yr (a year) | +4.4% | +4.9% |
| Total return, 5 yr (a year) | +3.7% | +3.9% |
| Total return, 10 yr (a year) | +2.3% | +2.9% |
| Worst drop since Dec 2013 | -0.2% | -0.9% |
| Share price since Dec 2013 | +0% | +1% |
| Pays | Monthly | Monthly |
| Issuer | State Street Investment Management | iShares |
| Assets | $48.5B | $9.0B |
| Started | 2007 | 2013 |
| Type | Treasury ETF | Ultra-short bond ETF |
Higher yield
ICSH
4.13%
Lower cost
ICSH
0.08%
Better total return
ICSH
2.3%/yr
Smaller worst drop
BIL
-0.2%
Key facts: BIL vs ICSH
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, BIL yields 3.66% (current yield) and ICSH yields 4.13% (current yield).
- BIL's expense ratio is 0.14% and ICSH's is 0.08%: $14 vs $8 a year on $10,000.
- From Dec 2013 to Oct 2026, $10,000 in BIL grew to $12,581 (1.8% a year) and $10,000 in ICSH to $13,465 (2.3% a year), distributions reinvested.
- Their worst month-end drops over that time: -0.2% for BIL and -0.9% for ICSH.
- BIL's income is generally exempt from state income tax, while ICSH's is mostly taxable by states.
Cite this page
SmarterDividends, "BIL vs ICSH: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/bil-vs-icsh
$10,000 in each, Dec 2013 to Oct 2026
Distributions reinvested, month-end values.
BIL became
$12,581
1.8% a year
ICSH became
$13,465
2.3% a year
Year by year
| Year | BIL | ICSH |
|---|---|---|
| 2025 | +4.1% | +5.0% |
| 2024 | +5.2% | +5.5% |
| 2023 | +4.9% | +5.6% |
| 2022 | +1.4% | +0.9% |
| 2021 | −0.1% | +0.2% |
| 2020 | +0.4% | +1.6% |
| 2019 | +2.0% | +3.1% |
| 2018 | +1.7% | +2.3% |
| 2017 | +0.7% | +1.6% |
| 2016 | +0.1% | +1.3% |
| 2015 | −0.1% | +0.2% |
| 2014 | −0.1% | +0.1% |
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).
- ICSH · 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 ICSH: questions
Is BIL or ICSH better?
It depends on the job. ICSH pays more today (4.13% vs 3.66%), ICSH costs less, and ICSH has the better total return over Dec 2013 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 ICSH?
ICSH, at 4.13% against 3.66% for BIL as of Nov 5, 2026. On $10,000 that's about $413 vs $366 a year at today's rates.
Which has the better total return?
ICSH. From Dec 2013 to Oct 2026, it returned 2.3% a year with distributions reinvested, against 1.8% for BIL. $10,000 became $13,465 vs $12,581.
Which is cheaper, BIL or ICSH?
ICSH, with a 0.08% expense ratio against 0.14%.
How are BIL and ICSH taxed?
BIL: Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies). ICSH: 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. ICSH leads on 5 of 7 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.