Dividend comparison
TFLO vs TBIL: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares Treasury Floating Rate Bond ETF and F/m US Treasury 3 Month Bill Fund, side by side. Updated October 21, 2026.
TFLO vs TBIL: key differences
The short answer, from the latest data on this page.
- Fees. Both charge about 0.15% a year, so cost is not what separates them.
- Income. Their trailing yields are almost the same: 3.73% for TFLO and 3.63% for TBIL. Both pay monthly.
- Performance. Over the last 3 years, TFLO returned 10.8% versus 10.1% for TBIL, with dividends reinvested. $10,000 would have grown to $11,084 in TFLO and $11,014 in TBIL.
- Risk. Their worst declines over the last 3 years were similar: -0.6% for TFLO and -0.6% for TBIL from peak to trough.
- Diversification. TFLO holds 8 positions and TBIL holds 5.
- Dividend growth. TFLO grew its yearly payout 573.2% a year over the last 2 years, versus -9.8% for TBIL.
Bottom line: TFLO has the edge on these figures, with faster dividend growth and broader diversification. TBIL 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.
| Metric | TFLO iShares Treasury Floating Rate Bond ETF | TBIL F/m US Treasury 3 Month Bill Fund |
|---|---|---|
| Dividend yield (TTM) | 3.73% | 3.63% |
| Dividend / share (TTM) | $1.89 | $1.81 |
| Payout frequency | Monthly | Monthly |
| Last dividend | $0.1596 on Oct 6, 2026 | $0.1566 on Sep 29, 2026 |
| Ex-dividend date | Oct 1, 2026 | Sep 28, 2026 |
| Dividend growth (CAGR) | 573.2% over 4 yrs | -9.8% over 2 yrs |
| Price | $50.62 | $49.95 |
| Beta | -0.02 | -0.00 |
| Max drawdown (5Y) | -0.6% | -0.6% |
| Market cap | $7.18B | $7.62B |
| Exchange | AMEX | NASDAQ |
| Expense ratio | 0.15% | 0.15% |
| Assets under management | $7.18B | $7.62B |
| Number of holdings | 8 | 5 |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
TFLO
$31.05/mo
$373 /yr at 3.73% yield
TBIL
$30.28/mo
$363 /yr at 3.63% yield
Dividend history
Total dividends paid per share in each calendar year. TFLO pays monthly; TBIL pays monthly.
| Year | TFLO | TBIL |
|---|---|---|
| 2025 | $2.1013 | $2.0277 |
| 2024 | $2.6304 | $2.5054 |
| 2023 | $2.4648 | $2.4938 |
| 2022 | $0.8461 | — |
| 2021 | $0.0010 | — |
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.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Aug 9, 2022 would now be worth $11,707 in TFLO and $11,603 in TBIL.
| Period | TFLO | TBIL |
|---|---|---|
| 1 month | 0.00% | 0.00% |
| 3 months | 0.06% | -0.02% |
| Year to date | 0.32% | 0.14% |
| 1 year | 0.84% | 0.32% |
| 3 years | 10.84% | 10.14% |
| 5 years | 17.75% | — |
- TFLO
- TBIL
Both series indexed to 100 on 2022-08-09 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.
- TFLO
- TBIL
Quick verdict
TFLO has the edge on these figures, with faster dividend growth and broader diversification. TBIL does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how TFLO vs TBIL fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is TFLO or TBIL better for dividend income?
It depends on your goals. TFLO currently yields 3.73% Trailing Twelve Months (TTM) while TBIL yields 3.63%. 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 TFLO and TBIL?
iShares Treasury Floating Rate Bond ETF (TFLO) is an ETF listed on AMEX. F/m US Treasury 3 Month Bill Fund (TBIL) 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, TFLO or TBIL?
They cost about the same: TFLO charges 0.15% a year and TBIL charges 0.15%.
Which has performed better, TFLO or TBIL?
Over the last 3 years, TFLO has the higher total return with dividends reinvested: TFLO returned 10.8% and TBIL returned 10.1%. Past performance does not predict future returns.
Which is riskier, TFLO or TBIL?
Measured by the worst peak-to-trough decline over the last five years, TBIL has been riskier: TFLO fell as much as 0.6% and TBIL as much as 0.6%. Their betas are -0.02 and -0.00.
How often do TFLO and TBIL pay dividends?
Both pay monthly. The most recent payments were $0.1596 for TFLO and $0.1566 for TBIL.
How much income does $10,000 in TFLO vs TBIL generate?
At current TTM yields, $10,000 in TFLO would generate roughly $31.05 per month ($373 annually). The same amount in TBIL would produce about $30.28 per month ($363 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both TFLO and TBIL?
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 TFLO vs TBIL with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how TFLO and TBIL 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.