Dividend comparison

SGOV vs BIL: Which Is Better for Income?

Side-by-side yield, projected income, and dividend fundamentals for iShares 0-3 Month Treasury Bond ETF and State Street SPDR Bloomberg 1-3 Month T-Bill ETF. Updated July 26, 2026.

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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)——
Dividend / share (TTM)——
Price$100.64$91.61
Payout ratio (TTM)——
Dividend growth streak——
Beta0.000.00
Market cap$95.94B$47.10B
ExchangeAMEXAMEX
Expense ratio0.09%0.14%
Assets under management$99.61B$47.05B
Number of holdings2433
Top 10 concentration——
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

SGOV

—/mo

Yield data unavailable

BIL

—/mo

Yield data unavailable

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
Trailing returns from the adjusted closing price series.
PeriodSGOVBIL
1 month0.02%0.32%
3 months0.00%0.89%
Year to date0.26%2.02%
1 year1.74%3.82%
3 years12.26%14.40%
5 years17.09%18.88%
  • SGOV
  • BIL
98109120202120222023202420252026117119

Both series indexed to 100 on 2021-07-24 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%

Quick verdict

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

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Frequently asked questions

Is SGOV or BIL 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 SGOV and BIL?
iShares 0-3 Month Treasury Bond ETF (SGOV) is an ETF listed on AMEX. 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, price, payout ratio, dividend growth streak, beta, and market cap when available.
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.