Dividend comparison

BIL vs VBIL: 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 Vanguard 0-3 Month Treasury Bill ETF, side by side. Updated October 21, 2026.

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BIL vs VBIL: key differences
The short answer, from the latest data on this page.
  • Fees. VBIL is cheaper at 0.06% a year versus 0.14% for BIL. On $10,000 that is $8 a year less in fees.
  • Income. BIL pays more income, yielding 3.66% over the last twelve months versus 3.50% for VBIL. That is about $16 more a year on $10,000. Both pay monthly.
  • Performance. Over the last 1 year, BIL returned 3.7% versus 0.8% for VBIL, with dividends reinvested. $10,000 would have grown to $10,367 in BIL and $10,080 in VBIL.
  • Risk. Their worst declines over the last 1 year were similar: -0.3% for BIL and -0.6% for VBIL from peak to trough.
  • Diversification. BIL holds 34 positions and VBIL holds 27.
  • Size. BIL is the larger fund with $51.2 billion in assets, against $12.8 billion for VBIL.

Bottom line: BIL fits better if you care most about stronger 1-year returns. VBIL fits better if you care most about lower fees.

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
VBIL
Vanguard 0-3 Month Treasury Bill ETF
Dividend yield (TTM)3.66%3.50%
Dividend / share (TTM)$3.35$2.65
Payout frequencyMonthlyMonthly
Last dividend$0.2632 on Oct 6, 2026$0.2177 on Oct 5, 2026
Ex-dividend dateOct 1, 2026Oct 1, 2026
Dividend growth (CAGR)45.1% over 3 yrs—
Price$91.58$75.66
Beta0.00-0.01
Max drawdown (5Y)-0.3%-0.6%
Market cap$51.19B$9.41B
ExchangeAMEXNASDAQ
Expense ratio0.14%0.06%
Assets under management$51.17B$12.80B
Number of holdings3427
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

VBIL

$29.17/mo

$350 /yr at 3.50% yield

Dividend history
Total dividends paid per share in each calendar year. BIL pays monthly; VBIL pays monthly.
YearBILVBIL
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 VBIL 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 Feb 11, 2025 would now be worth $10,573 in BIL and $10,370 in VBIL.
PeriodBILVBIL
1 month0.32%0.03%
3 months0.91%0.05%
Year to date2.89%0.30%
1 year3.67%0.80%
3 years12.88%—
5 years18.87%—
  • BIL
  • VBIL
10010310620252026106104

Both series indexed to 100 on 2025-02-11 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
  • VBIL
0%25%50%75%100%Cash & Others100.0%100.0%Financial Services100.0%Government99.8%

Quick verdict

BIL fits better if you care most about stronger 1-year returns. VBIL fits better if you care most about lower fees. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is BIL or VBIL better for dividend income?
It depends on your goals. BIL currently yields 3.66% Trailing Twelve Months (TTM) while VBIL yields 3.50%. 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 VBIL?
State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) is an ETF listed on AMEX. Vanguard 0-3 Month Treasury Bill ETF (VBIL) 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 cheaper, BIL or VBIL?
VBIL has the lower expense ratio. BIL charges 0.14% a year and VBIL charges 0.06%, a difference of $8 a year on a $10,000 investment.
Which has performed better, BIL or VBIL?
Over the last 1 year, BIL has the higher total return with dividends reinvested: BIL returned 3.7% and VBIL returned 0.8%. Past performance does not predict future returns.
Which is riskier, BIL or VBIL?
Measured by the worst peak-to-trough decline over the last five years, VBIL has been riskier: BIL fell as much as 0.3% and VBIL as much as 0.6%. Their betas are 0.00 and -0.01.
How often do BIL and VBIL pay dividends?
Both pay monthly. The most recent payments were $0.2632 for BIL and $0.2177 for VBIL.
How much income does $10,000 in BIL vs VBIL generate?
At current TTM yields, $10,000 in BIL would generate roughly $30.51 per month ($366 annually). The same amount in VBIL would produce about $29.17 per month ($350 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both BIL and VBIL?
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 VBIL with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how BIL and VBIL 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.