Dividend comparison

BIL vs SWVXX: 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 Schwab Prime Advantage Money Fund - Investor, side by side. Updated October 21, 2026.

Start freeOpen interactive compareSee pricing
BIL vs SWVXX: key differences
The short answer, from the latest data on this page.
  • Income. Their trailing yields are almost the same: 3.66% for BIL and 3.58% for SWVXX. Both pay monthly.
  • Performance. Over the last 3 years, BIL returned 12.9% versus 1.7% for SWVXX, with dividends reinvested. $10,000 would have grown to $11,288 in BIL and $10,173 in SWVXX.
  • Risk. Their worst declines over the last 3 years were similar: -0.3% for BIL and 0.0% for SWVXX from peak to trough.
  • Dividend growth. SWVXX grew its yearly payout 223.8% a year over the last 3 years, versus 45.1% for BIL.

Bottom line: BIL fits better if you care most about stronger 3-year returns. SWVXX fits better if you care most about faster dividend growth.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricBIL
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
SWVXX
Schwab Prime Advantage Money Fund - Investor
Dividend yield (TTM)3.66%3.58%
Dividend / share (TTM)$3.35$0.04
Payout frequencyMonthlyMonthly
Last dividend$0.2632 on Oct 6, 2026$0.0030 on Sep 30, 2026
Ex-dividend dateOct 1, 2026Sep 30, 2026
Dividend growth (CAGR)45.1% over 3 yrs223.8% over 4 yrs
Price$91.58$1.00
Beta0.000.02
Max drawdown (5Y)-0.3%0.0%
Market cap$51.19B$245.26B
ExchangeAMEXNASDAQ
Expense ratio0.14%—
Assets under management$51.17B—
Number of holdings34—
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

SWVXX

$29.84/mo

$358 /yr at 3.58% yield

Dividend history
Total dividends paid per share in each calendar year. BIL pays monthly; SWVXX pays monthly.
YearBILSWVXX
2025$3.7727$0.0406
2024$4.5966$0.0500
2023$4.5009$0.0491
2022$1.2361$0.0156
2021—$0.0004
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 SWVXX 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 Apr 17, 2023 would now be worth $11,582 in BIL and $10,173 in SWVXX.
PeriodBILSWVXX
1 month0.32%0.00%
3 months0.91%0.00%
Year to date2.89%0.00%
1 year3.67%0.00%
3 years12.88%1.73%
5 years18.87%—
  • BIL
  • SWVXX
991081172023202420252026116102

Both series indexed to 100 on 2023-04-17 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
  • SWVXX
0%25%50%75%100%Cash & Others100.0%Government99.8%

Quick verdict

BIL fits better if you care most about stronger 3-year returns. SWVXX fits better if you care most about faster dividend growth. Model the holding inside your real portfolio before deciding.

Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how BIL vs SWVXX fits with the rest of your holdings. Free to start — no credit card required for the trial.
Start freeInteractive DRIP compare

Frequently asked questions

Is BIL or SWVXX better for dividend income?
It depends on your goals. BIL currently yields 3.66% Trailing Twelve Months (TTM) while SWVXX yields 3.58%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between BIL and SWVXX?
State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) is an ETF listed on AMEX. Schwab Prime Advantage Money Fund - Investor (SWVXX) 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 has performed better, BIL or SWVXX?
Over the last 3 years, BIL has the higher total return with dividends reinvested: BIL returned 12.9% and SWVXX returned 1.7%. Past performance does not predict future returns.
Which is riskier, BIL or SWVXX?
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 SWVXX as much as 0.0%. Their betas are 0.00 and 0.02.
How often do BIL and SWVXX pay dividends?
Both pay monthly. The most recent payments were $0.2632 for BIL and $0.0030 for SWVXX.
How much income does $10,000 in BIL vs SWVXX generate?
At current TTM yields, $10,000 in BIL would generate roughly $30.51 per month ($366 annually). The same amount in SWVXX would produce about $29.84 per month ($358 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both BIL and SWVXX?
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 SWVXX with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how BIL and SWVXX 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.

Related comparisons

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.