TBLL vs USFR: Yield, Cost and Returns Compared
As of Nov 5, 2026, USFR yields more: 3.71% (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), USFR returned 2.6% a year with distributions reinvested, and TBLL 2.4%.
USFRWisdomTree Floating Rate Treasury Fund3.71%current yield| Compared | TBLL | USFR |
|---|---|---|
| YieldCurrent yield | 3.59% | 3.71% |
| Expense ratio | 0.08% | 0.15% |
| Total return, 1 yr | +3.6% | +4.0% |
| Total return, 3 yr (a year) | +4.4% | +4.6% |
| Total return, 5 yr (a year) | +3.7% | +4.0% |
| Total return, 10 yr (a year) | — | +2.6% |
| Worst drop since Jan 2017 | -0.2% | -0.2% |
| Share price since Jan 2017 | +0% | +1% |
| Pays | Monthly | Monthly |
| Issuer | Invesco | WisdomTree |
| Assets | $2.9B | $21.3B |
| Started | 2017 | 2014 |
| Type | Treasury ETF | Treasury ETF |
Higher yield
USFR
3.71%
Lower cost
TBLL
0.08%
Better total return
USFR
2.6%/yr
Smaller worst drop
USFR
-0.2%
Key facts: TBLL vs USFR
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, TBLL yields 3.59% (current yield) and USFR yields 3.71% (current yield).
- TBLL's expense ratio is 0.08% and USFR's is 0.15%: $8 vs $15 a year on $10,000.
- From Jan 2017 to Oct 2026, $10,000 in TBLL grew to $12,549 (2.4% a year) and $10,000 in USFR to $12,874 (2.6% a year), distributions reinvested.
- Their worst month-end drops over that time: -0.2% for TBLL and -0.2% for USFR.
Cite this page
SmarterDividends, "TBLL vs USFR: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/tbll-vs-usfr
$10,000 in each, Jan 2017 to Oct 2026
Distributions reinvested, month-end values.
TBLL became
$12,549
2.4% a year
USFR became
$12,874
2.6% a year
Year by year
| Year | TBLL | USFR |
|---|---|---|
| 2025 | +4.2% | +4.2% |
| 2024 | +5.1% | +5.5% |
| 2023 | +5.0% | +5.2% |
| 2022 | +1.1% | +2.0% |
| 2021 | +0.0% | −0.0% |
| 2020 | +0.6% | +0.5% |
| 2019 | +1.8% | +2.0% |
| 2018 | +1.7% | +2.0% |
Total return each calendar year, distributions reinvested.
What each holds and how it's taxed
- TBLL · 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.
TBLL
- Holdings not reported.
USFR
- DTRXX BNY Dreyfus Treasury Oblgtns Csh Mgt Ins0.0%
TBLL vs USFR: questions
Is TBLL or USFR better?
It depends on the job. USFR pays more today (3.71% vs 3.59%), TBLL costs less, and USFR has the better total return over Jan 2017 to Oct 2026, with USFR 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, TBLL or USFR?
USFR, at 3.71% against 3.59% for TBLL as of Nov 5, 2026. On $10,000 that's about $371 vs $359 a year at today's rates.
Which has the better total return?
USFR. From Jan 2017 to Oct 2026, it returned 2.6% a year with distributions reinvested, against 2.4% for TBLL. $10,000 became $12,874 vs $12,549.
Which is cheaper, TBLL or USFR?
TBLL, with a 0.08% expense ratio against 0.15%.
How are TBLL and USFR taxed?
TBLL: 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 5 of 6 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.