BIL vs TBLL: Yield, Cost and Returns Compared
As of Nov 5, 2026, BIL yields more: 3.66% (current yield) against 3.59% for TBLL. TBLL is cheaper to own at 0.08% a year vs 0.14%. Over the same 9 years (Jan 2017 to Oct 2026), BIL returned 2.4% a year with distributions reinvested, and TBLL 2.4%.
BILState Street SPDR Bloomberg 1-3 Month T-Bill ETF3.66%current yield| Compared | BIL | TBLL |
|---|---|---|
| YieldCurrent yield | 3.66% | 3.59% |
| Expense ratio | 0.14% | 0.08% |
| Total return, 1 yr | +3.7% | +3.6% |
| Total return, 3 yr (a year) | +4.4% | +4.4% |
| Total return, 5 yr (a year) | +3.7% | +3.7% |
| Total return, 10 yr (a year) | +2.3% | — |
| Worst drop since Jan 2017 | -0.2% | -0.2% |
| Share price since Jan 2017 | +0% | +0% |
| Pays | Monthly | Monthly |
| Issuer | State Street Investment Management | Invesco |
| Assets | $48.5B | $2.9B |
| Started | 2007 | 2017 |
| Type | Treasury ETF | Treasury ETF |
Higher yield
BIL
3.66%
Lower cost
TBLL
0.08%
Better total return
BIL
2.4%/yr
Smaller worst drop
BIL
-0.2%
Key facts: BIL vs TBLL
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, BIL yields 3.66% (current yield) and TBLL yields 3.59% (current yield).
- BIL's expense ratio is 0.14% and TBLL's is 0.08%: $14 vs $8 a year on $10,000.
- From Jan 2017 to Oct 2026, $10,000 in BIL grew to $12,586 (2.4% a year) and $10,000 in TBLL to $12,549 (2.4% a year), distributions reinvested.
- Their worst month-end drops over that time: -0.2% for BIL and -0.2% for TBLL.
Cite this page
SmarterDividends, "BIL vs TBLL: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/bil-vs-tbll
$10,000 in each, Jan 2017 to Oct 2026
Distributions reinvested, month-end values.
BIL became
$12,586
2.4% a year
TBLL became
$12,549
2.4% a year
Year by year
| Year | BIL | TBLL |
|---|---|---|
| 2025 | +4.1% | +4.2% |
| 2024 | +5.2% | +5.1% |
| 2023 | +4.9% | +5.0% |
| 2022 | +1.4% | +1.1% |
| 2021 | −0.1% | +0.0% |
| 2020 | +0.4% | +0.6% |
| 2019 | +2.0% | +1.8% |
| 2018 | +1.7% | +1.7% |
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).
- TBLL · 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 TBLL: questions
Is BIL or TBLL better?
It depends on the job. BIL pays more today (3.66% vs 3.59%), TBLL costs less, and BIL has the better total return over Jan 2017 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 TBLL?
BIL, at 3.66% against 3.59% for TBLL as of Nov 5, 2026. On $10,000 that's about $366 vs $359 a year at today's rates.
Which has the better total return?
BIL. From Jan 2017 to Oct 2026, it returned 2.4% a year with distributions reinvested, against 2.4% for TBLL. $10,000 became $12,586 vs $12,549.
Which is cheaper, BIL or TBLL?
TBLL, with a 0.08% expense ratio against 0.14%.
How are BIL and TBLL taxed?
BIL: Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies). TBLL: 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. BIL leads on 4 of 6 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.