BIL vs TBIL: Yield, Cost and Returns Compared
As of Nov 5, 2026, TBIL yields more: 3.97% (current yield) against 3.66% for BIL. BIL is cheaper to own at 0.14% a year vs 0.15%. Over the same 4 years (Aug 2022 to Oct 2026), TBIL returned 4.5% a year with distributions reinvested, and BIL 4.4%.
BILState Street SPDR Bloomberg 1-3 Month T-Bill ETF3.66%current yield| Compared | BIL | TBIL |
|---|---|---|
| YieldCurrent yield | 3.66% | 3.97% |
| Expense ratio | 0.14% | 0.15% |
| Total return, 1 yr | +3.7% | +3.7% |
| Total return, 3 yr (a year) | +4.4% | +4.4% |
| 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% | +0% |
| Pays | Monthly | Monthly |
| Issuer | State Street Investment Management | F/m Investments LLC |
| Assets | $48.5B | $7.5B |
| Started | 2007 | 2022 |
| Type | Treasury ETF | Treasury ETF |
Higher yield
TBIL
3.97%
Lower cost
BIL
0.14%
Better total return
TBIL
4.5%/yr
Smaller worst drop
BIL
0.0%
Key facts: BIL vs TBIL
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, BIL yields 3.66% (current yield) and TBIL yields 3.97% (current yield).
- BIL's expense ratio is 0.14% and TBIL's is 0.15%: $14 vs $15 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 TBIL to $12,012 (4.5% a year), distributions reinvested.
- Their worst month-end drops over that time: 0.0% for BIL and 0.0% for TBIL.
Cite this page
SmarterDividends, "BIL vs TBIL: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/bil-vs-tbil
$10,000 in each, Aug 2022 to Oct 2026
Distributions reinvested, month-end values.
BIL became
$11,968
4.4% a year
TBIL became
$12,012
4.5% a year
Year by year
| Year | BIL | TBIL |
|---|---|---|
| 2025 | +4.1% | +4.2% |
| 2024 | +5.2% | +5.1% |
| 2023 | +4.9% | +5.1% |
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).
- TBIL · Treasury ETF
- Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies).
General information, not tax advice. Every cash fund by yield →
BIL vs TBIL: questions
Is BIL or TBIL better?
It depends on the job. TBIL pays more today (3.97% vs 3.66%), BIL costs less, and TBIL 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 TBIL?
TBIL, at 3.97% against 3.66% for BIL as of Nov 5, 2026. On $10,000 that's about $397 vs $366 a year at today's rates.
Which has the better total return?
TBIL. From Aug 2022 to Oct 2026, it returned 4.5% a year with distributions reinvested, against 4.4% for BIL. $10,000 became $12,012 vs $11,968.
Which is cheaper, BIL or TBIL?
BIL, with a 0.14% expense ratio against 0.15%.
How are BIL and TBIL taxed?
BIL: Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies). TBIL: Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies). 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. TBIL leads on 3 of 4 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.