Dividend comparison

SGOV vs BIL: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares 0-3 Month Treasury Bond ETF and State Street SPDR Bloomberg 1-3 Month T-Bill ETF, side by side. Updated October 24, 2026.

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SGOV vs BIL: key differences
The short answer, from the latest data on this page.
  • Fees. SGOV is cheaper at 0.09% a year versus 0.14% for BIL. On $10,000 that is $5 a year less in fees.
  • Income. Their trailing yields are almost the same: 3.64% for SGOV and 3.66% for BIL. Both pay monthly.
  • Performance. Over the last 5 years, BIL returned 18.9% versus 17.1% for SGOV, with dividends reinvested. $10,000 would have grown to $11,894 in BIL and $11,711 in SGOV.
  • Risk. Their worst declines over the last 5 years were similar: -0.6% for SGOV and -0.3% for BIL from peak to trough.
  • Diversification. BIL holds 34 positions and SGOV holds 24.
  • Dividend growth. SGOV grew its yearly payout 238.5% a year over the last 3 years, versus 45.1% for BIL.
  • Size. SGOV is the larger fund with $116.5 billion in assets, against $51.1 billion for BIL.

Bottom line: SGOV has the edge on these figures, with lower fees and faster dividend growth. BIL does not lead on any of the measures compared here.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricSGOV
iShares 0-3 Month Treasury Bond ETF
BIL
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
Dividend yield (TTM)3.64%3.66%
Dividend / share (TTM)$3.67$3.35
Payout frequencyMonthlyMonthly
Last dividend$0.3005 on Oct 6, 2026$0.2632 on Oct 6, 2026
Ex-dividend dateOct 1, 2026Oct 1, 2026
Dividend growth (CAGR)238.5% over 4 yrs45.1% over 3 yrs
Price$100.66$91.63
Beta0.000.00
Max drawdown (5Y)-0.6%-0.3%
Market cap$96.06B$51.19B
ExchangeNYSEAMEX
Expense ratio0.09%0.14%
Assets under management$116.46B$51.15B
Number of holdings2434
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

SGOV

$30.35/mo

$364 /yr at 3.64% yield

BIL

$30.50/mo

$366 /yr at 3.66% yield

Dividend history
Total dividends paid per share in each calendar year. SGOV pays monthly; BIL pays monthly.
YearSGOVBIL
2025$4.1157$3.7727
2024$5.1151$4.5966
2023$4.8826$4.5009
2022$1.4546$1.2361
2021$0.0313—
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 SGOV vs BIL actually do

SGOV
An iShares fund holding US Treasury bills maturing within three months, used as a parking place for cash.

It tracks an ICE index of 0 to 3 month Treasury securities, so the entire portfolio rolls over every quarter and its yield tracks short-term rates with a short lag rather than being locked in. Interest accrues into the share price through the month and is paid out monthly, which is why the price ratchets up and then drops back by the distribution amount instead of trending. Because the holdings are direct Treasury obligations, the income is generally exempt from state and local tax.

Suits an emergency fund, a savings goal with a near-term date, or the cash sleeve of a portfolio waiting to be deployed. It is not an investment in any growth sense, and it will lose purchasing power to inflation whenever short rates sit below it.

Capital preservation

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 Oct 23, 2021 would now be worth $11,711 in SGOV and $11,894 in BIL.
PeriodSGOVBIL
1 month0.04%0.33%
3 months0.05%0.95%
Year to date0.28%2.94%
1 year0.70%3.69%
3 years10.79%12.93%
5 years17.11%18.94%
  • SGOV
  • BIL
98109120202120222023202420252026117119

Both series indexed to 100 on 2021-10-23 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.
  • SGOV
  • BIL
0%25%50%75%100%Cash & Others100.0%100.0%Government99.8%U.S. Treasury Debt99.5%Investment Company0.5%

Quick verdict

SGOV has the edge on these figures, with lower fees and faster dividend growth. BIL does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is SGOV or BIL better for dividend income?
It depends on your goals. SGOV currently yields 3.64% Trailing Twelve Months (TTM) while BIL yields 3.66%. 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 SGOV and BIL?
iShares 0-3 Month Treasury Bond ETF (SGOV) is an ETF listed on NYSE. State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, SGOV or BIL?
SGOV has the lower expense ratio. SGOV charges 0.09% a year and BIL charges 0.14%, a difference of $5 a year on a $10,000 investment.
Which has performed better, SGOV or BIL?
Over the last 5 years, BIL has the higher total return with dividends reinvested: SGOV returned 17.1% and BIL returned 18.9%. Past performance does not predict future returns.
Which is riskier, SGOV or BIL?
Measured by the worst peak-to-trough decline over the last five years, SGOV has been riskier: SGOV fell as much as 0.6% and BIL as much as 0.3%. Their betas are 0.00 and 0.00.
How often do SGOV and BIL pay dividends?
Both pay monthly. The most recent payments were $0.3005 for SGOV and $0.2632 for BIL.
How much income does $10,000 in SGOV vs BIL generate?
At current TTM yields, $10,000 in SGOV would generate roughly $30.35 per month ($364 annually). The same amount in BIL would produce about $30.50 per month ($366 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SGOV and BIL?
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 SGOV vs BIL with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SGOV and BIL 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.