TBIL vs USFR: Yield, Cost and Returns Compared
As of Nov 5, 2026, TBIL yields more: 3.97% (current yield) against 3.71% for USFR. TBIL is cheaper to own at 0.15% a year vs 0.15%. Over the same 4 years (Aug 2022 to Oct 2026), USFR returned 4.7% a year with distributions reinvested, and TBIL 4.5%.
USFRWisdomTree Floating Rate Treasury Fund3.71%current yield| Compared | TBIL | USFR |
|---|---|---|
| YieldCurrent yield | 3.97% | 3.71% |
| Expense ratio | 0.15% | 0.15% |
| Total return, 1 yr | +3.7% | +4.0% |
| Total return, 3 yr (a year) | +4.4% | +4.6% |
| Total return, 5 yr (a year) | — | +4.0% |
| Total return, 10 yr (a year) | — | +2.6% |
| Worst drop since Aug 2022 | 0.0% | 0.0% |
| Share price since Aug 2022 | +0% | +0% |
| Pays | Monthly | Monthly |
| Issuer | F/m Investments LLC | WisdomTree |
| Assets | $7.5B | $21.3B |
| Started | 2022 | 2014 |
| Type | Treasury ETF | Treasury ETF |
Higher yield
TBIL
3.97%
Lower cost
TBIL
0.15%
Better total return
USFR
4.7%/yr
Smaller worst drop
TBIL
0.0%
Key facts: TBIL vs USFR
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, TBIL yields 3.97% (current yield) and USFR yields 3.71% (current yield).
- TBIL's expense ratio is 0.15% and USFR's is 0.15%: $15 vs $15 a year on $10,000.
- From Aug 2022 to Oct 2026, $10,000 in TBIL grew to $12,012 (4.5% a year) and $10,000 in USFR to $12,095 (4.7% a year), distributions reinvested.
- Their worst month-end drops over that time: 0.0% for TBIL and 0.0% for USFR.
Cite this page
SmarterDividends, "TBIL vs USFR: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/tbil-vs-usfr
$10,000 in each, Aug 2022 to Oct 2026
Distributions reinvested, month-end values.
TBIL became
$12,012
4.5% a year
USFR became
$12,095
4.7% a year
Year by year
| Year | TBIL | USFR |
|---|---|---|
| 2025 | +4.2% | +4.2% |
| 2024 | +5.1% | +5.5% |
| 2023 | +5.1% | +5.2% |
Total return each calendar year, distributions reinvested.
What each holds and how it's taxed
- TBIL · Treasury ETF
- Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies).
- USFR · 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 →
Top holdings
No overlap in the top ten.
TBIL
- Holdings not reported.
USFR
- DTRXX BNY Dreyfus Treasury Oblgtns Csh Mgt Ins0.0%
TBIL vs USFR: questions
Is TBIL or USFR better?
It depends on the job. TBIL pays more today (3.97% vs 3.71%), TBIL costs less, and USFR has the better total return over Aug 2022 to Oct 2026, with TBIL 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, TBIL or USFR?
TBIL, at 3.97% against 3.71% for USFR as of Nov 5, 2026. On $10,000 that's about $397 vs $371 a year at today's rates.
Which has the better total return?
USFR. From Aug 2022 to Oct 2026, it returned 4.7% a year with distributions reinvested, against 4.5% for TBIL. $10,000 became $12,095 vs $12,012.
Which is cheaper, TBIL or USFR?
TBIL, with a 0.15% expense ratio against 0.15%.
How are TBIL and USFR taxed?
TBIL: Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies). USFR: 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. USFR leads on 2 of 3 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.