Dividend comparison

BIL vs FDRXX: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for State Street SPDR Bloomberg 1-3 Month T-Bill ETF and Fidelity Cash Reserves, side by side. Updated October 21, 2026.

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BIL vs FDRXX: key differences

The short answer, from the latest data on this page.

Risk. Their worst declines over the last 5 years were similar: -0.3% for BIL and 0.0% for FDRXX from peak to trough.

Side-by-side snapshot

Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.

Metric	BIL State Street SPDR Bloomberg 1-3 Month T-Bill ETF	FDRXX Fidelity Cash Reserves
Dividend yield (TTM)	3.66%	—
Dividend / share (TTM)	$3.35	—
Payout frequency	Monthly	—
Last dividend	$0.2632 on Oct 6, 2026	—
Ex-dividend date	Oct 1, 2026	—
Dividend growth (CAGR)	45.1% over 3 yrs	—
Price	$91.58	$1.00
Beta	0.00	0.00
Max drawdown (5Y)	-0.3%	0.0%
Market cap	$51.19B	—
Exchange	AMEX	NASDAQ
Expense ratio	0.14%	—
Assets under management	$51.17B	—
Number of holdings	34	—

Income on a $10,000 investment

Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

BIL

$30.51/mo

$366 /yr at 3.66% yield

FDRXX

—/mo

Yield data unavailable

Dividend history

Total dividends paid per share in each calendar year.

Year	BIL	FDRXX
2025	$3.7727	—
2024	$4.5966	—
2023	$4.5009	—
2022	$1.2361	—

Strategy: Cash equivalent

Funds holding short-dated US government paper, where the objective is that the principal is there when you need it. Yield follows short-term interest rates with a short lag rather than being locked in, so income falls when the central bank cuts and rises when it hikes. Because the underlying holdings are nearly identical across providers, the expense ratio comes almost directly out of what you receive.

There is no growth here by design, and purchasing power erodes whenever the after-tax yield sits below inflation.

What BIL vs FDRXX actually do

BIL

State Street's Treasury bill fund, holding bills with one to three months left to maturity.

It tracks a Bloomberg index of 1 to 3 month US Treasury bills and works the same way as its peers: constant rollover, a yield that follows the short end of the curve, and monthly distributions. It launched in 2007, well before the current crop of cash ETFs, and carries a higher expense ratio than the newer entrants. On a product where every fund holds nearly identical government paper, that fee gap comes almost directly out of the yield you receive.

Suits anyone needing a liquid cash holding, particularly where a platform makes it the cheapest or most accessible option. Where an equivalent bill fund charges less, there is little in the portfolio itself to justify the difference.

Capital preservation

Performance

Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Jun 22, 2026 would now be worth $10,120 in BIL and $10,000 in FDRXX.

Period	BIL	FDRXX
1 month	0.32%	0.00%
3 months	0.91%	0.00%
Year to date	2.89%	—
1 year	3.67%	—
3 years	12.88%	—
5 years	18.87%	—

BIL
FDRXX

Both series indexed to 100 on 2026-06-22 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation

Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.

BIL
FDRXX

Quick verdict

Compare the metrics above, then add both tickers to a Dividend Wealth portfolio to see combined income forecasts and diversification impact.

Still deciding? Compare them in your portfolio

Forecast dividend income, track payouts, and see how BIL vs FDRXX fits with the rest of your holdings. Free to start — no credit card required for the trial.

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Frequently asked questions

Is BIL or FDRXX better for dividend income?

Compare yield, payout sustainability, and how each fund or stock fits your income goals. Use Dividend Wealth to model both holdings inside a real portfolio forecast.

What is the difference between BIL and FDRXX?

State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) is an ETF listed on AMEX. Fidelity Cash Reserves (FDRXX) is an ETF listed on NASDAQ. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.

Which is riskier, BIL or FDRXX?

Measured by the worst peak-to-trough decline over the last five years, BIL has been riskier: BIL fell as much as 0.3% and FDRXX as much as 0.0%. Their betas are 0.00 and 0.00.

Can I hold both BIL and FDRXX?

Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.

Where can I compare BIL vs FDRXX with my full portfolio?

Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how BIL and FDRXX fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.