SHV vs TBLL: Yield, Cost and Returns Compared
As of Nov 5, 2026, SHV yields more: 3.63% (current yield) against 3.59% for TBLL. TBLL is cheaper to own at 0.08% a year vs 0.15%. Over the same 9 years (Jan 2017 to Oct 2026), SHV returned 2.4% a year with distributions reinvested, and TBLL 2.4%.
SHViShares 0–1 Year Treasury Bond ETF3.63%current yield| Compared | SHV | TBLL |
|---|---|---|
| YieldCurrent yield | 3.63% | 3.59% |
| Expense ratio | 0.15% | 0.08% |
| Total return, 1 yr | +3.6% | +3.6% |
| Total return, 3 yr (a year) | +4.4% | +4.4% |
| Total return, 5 yr (a year) | +3.6% | +3.7% |
| Total return, 10 yr (a year) | +2.4% | — |
| Worst drop since Jan 2017 | -0.3% | -0.2% |
| Share price since Jan 2017 | +0% | +0% |
| Pays | Monthly | Monthly |
| Issuer | iShares | Invesco |
| Assets | $21.4B | $2.9B |
| Started | 2007 | 2017 |
| Type | Treasury ETF | Treasury ETF |
Higher yield
SHV
3.63%
Lower cost
TBLL
0.08%
Better total return
SHV
2.4%/yr
Smaller worst drop
TBLL
-0.2%
Key facts: SHV vs TBLL
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, SHV yields 3.63% (current yield) and TBLL yields 3.59% (current yield).
- SHV's expense ratio is 0.15% and TBLL's is 0.08%: $15 vs $8 a year on $10,000.
- From Jan 2017 to Oct 2026, $10,000 in SHV grew to $12,616 (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: -0.3% for SHV and -0.2% for TBLL.
Cite this page
SmarterDividends, "SHV vs TBLL: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/shv-vs-tbll
$10,000 in each, Jan 2017 to Oct 2026
Distributions reinvested, month-end values.
SHV became
$12,616
2.4% a year
TBLL became
$12,549
2.4% a year
Year by year
| Year | SHV | TBLL |
|---|---|---|
| 2025 | +4.2% | +4.2% |
| 2024 | +5.1% | +5.1% |
| 2023 | +5.0% | +5.0% |
| 2022 | +0.9% | +1.1% |
| 2021 | −0.1% | +0.0% |
| 2020 | +0.8% | +0.6% |
| 2019 | +2.4% | +1.8% |
| 2018 | +1.7% | +1.7% |
Total return each calendar year, distributions reinvested.
What each holds and how it's taxed
- SHV · 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 →
SHV vs TBLL: questions
Is SHV or TBLL better?
It depends on the job. SHV pays more today (3.63% vs 3.59%), TBLL costs less, and SHV has the better total return over Jan 2017 to Oct 2026, with TBLL 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, SHV or TBLL?
SHV, at 3.63% against 3.59% for TBLL as of Nov 5, 2026. On $10,000 that's about $363 vs $359 a year at today's rates.
Which has the better total return?
SHV. From Jan 2017 to Oct 2026, it returned 2.4% a year with distributions reinvested, against 2.4% for TBLL. $10,000 became $12,616 vs $12,549.
Which is cheaper, SHV or TBLL?
TBLL, with a 0.08% expense ratio against 0.15%.
How are SHV and TBLL taxed?
SHV: 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. For information only, not investment advice. Last fund data: Nov 5, 2026.