BILvsTBFETF Comparison

ETF 1

BIL

State Street SPDR Bloomberg 1-3 Month T-Bill ETF

This fund is part of

Money Market Bonds

+0%

Full BIL fund page

ETF 2

TBF

ProShares Short 20+ Year Treasury ETF

This fund is part of

Inverse Fixed Income

+1.15%

Full TBF fund page

State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) belongs to the Money Market Bonds segment. ProShares Short 20+ Year Treasury ETF (TBF) is part of the Inverse Fixed Income segment. Both ETFs have the same top 1 sector exposures: Sovereign. BIL is less expensive with a Total Expense Ratio (TER) of 0.1353%, versus 1% for TBF. BIL is up 2.45% year-to-date (YTD) with +$4.21B in YTD flows. TBF performs better with 6.7% YTD performance, and +$48M in YTD flows. Run a side-by-side ETF comparison of BIL and TBF below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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BIL vs TBF performance and flow charts

Performance

Cumulative Flows

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Data Services

Historic performance and flows

Data as of 09/09/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	BIL TBF	+0.29%+0.41%	+0.90%+3.64%	+2.45%+6.70%	+3.69%+9.33%	+14.09%+18.86%	+19.40%+81.38%
Flows	BIL TBF	+$260M+$11M	-$182M-$15M	+$4.21B+$48M	+$5.13B+$44M	+$17.22B-$81M	+$34.89B-$720M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	BIL TBF	+0.15%+10.03%	+0.15%+9.15%	+0.19%+13.36%	+0.20%+15.52%
Max drawdown	BIL TBF	n/a-3.29%	n/a-5.50%	n/a-17.72%	-0.05%-17.72%
Max drawdown duration	BIL TBF	n/a27d	n/a72d	n/a579d	259d579d

Trading data

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	BIL	TBF
Last sale 9/10/2026 at 1:30 PM	$91.47	$25.85
Previous close 09/09/2026	$91.46	$25.58
Consolidated volume 09/09/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of August 31, 2026

1-year trailing difference

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	BIL	TBF
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 9/10/2026 at 1:30 PM

Live

Closed

	BIL	TBF
Last price	$91.47	$25.85
1D performance	+0.01%	+1.06%
AuM	$46.95 B	$117.83 M
E/R	0.1353%	1%

Characteristics

	BIL	TBF
Management strategy	Passive	Passive
Provider	State Street Investment Management	ProShares
Benchmark	Bloomberg U.S. Treasury Bills 1-3 Months Index	ICE U.S. Treasury 20+ Year Index
N° of holdings	18	11
Asset class	Fixed Income	Bonds
Trailing 12m distribution yield	Join	Join
Inception date	May 25, 2007	August 18, 2009
ESG	No	No

More BIL data on Trackinsight

More TBF data on Trackinsight

Exposure

Countries

BIL

USA

98.9%

Other

1.1%

TBF

USA

74.17%

Other

25.83%

Sectors

BIL

Sovereign

98.9%

Other

1.1%

TBF

Sovereign

74.17%

Other

25.83%

Diversification

BIL

Total weight of top 15 holdings out of 15

91.95%

TBF

Total weight of top 11 holdings out of 11

74.17%

Top 15 holdings

Data as of July 31, 2026

BIL

USA, Bills 0% 3sep2026, USD (364D)

10.37%

USA, Bills 0% 10sep2026, USD (182D)

10.10%

USA, Bills 0% 29oct2026, USD (364D)

8.05%

USA, Bills 0% 1oct2026, USD (364D)

7.34%

USA, Bills 0% 17sep2026, USD (182D)

7.01%

USA, Bills 0% 24sep2026, USD (182D)

6.94%

USA, Bills 0% 22sep2026, USD (119D)

5.93%

USA, Bills 0% 22oct2026, USD (182D)

5.86%

USA, Bills 0% 8oct2026, USD (182D)

5.76%

USA, Bills 0% 15oct2026, USD (182D)

5.23%

USA, Bills 0% 1sep2026, USD (119D)

5.05%

USA, Bills 0% 15sep2026, USD (119D)

4.72%

USA, Bills 0% 8sep2026, USD (119D)

4.36%

USA, Bills 0% 29sep2026, USD (119D)

2.62%

USA, Bills 0% 27oct2026, USD (119D)

2.61%

TBF

USA, Bills 0% 3sep2026, USD (364D)

26.14%

USA, Bills 0% 17sep2026, USD (182D)

8.89%

USA, Bills 0% 13aug2026, USD (182D)

6.54%

USA, Bills 0% 10sep2026, USD (182D)

6.00%

USA, Bills 0% 22oct2026, USD (182D)

5.41%

USA, Bills 0% 24sep2026, USD (182D)

4.95%

USA, Bills 0% 1oct2026, USD (364D)

4.64%

USA, Bills 0% 8oct2026, USD (182D)

3.77%

USA, Bills 0% 6oct2026, USD (119D)

3.31%

USA, Bills 0% 15oct2026, USD (182D)

3.09%

USA, Bills 0% 29sep2026, USD (119D)

1.44%

Frequently asked questions about BIL and TBF

How have the BIL and TBF ETFs performed in 2026?

As of September 9, 2026, BIL is up 2.45% year-to-date (YTD), while TBF has returned 6.7%. That puts TBF better performer ahead so far this year.

Which ETF is attracting more investor money: BIL or TBF?

Year-to-date, the BIL ETF saw +$4.21B in flows, compared to +$48M for TBF.

Which ETF is more volatile: BIL or TBF?

Over the past year, BIL had a volatility of 0.15%, while TBF experienced 9.15%.

Which ETF is bigger: BIL or TBF?

As of September 9, 2026, BIL holds $46.95 B in assets under management (AUM), while TBF manages $117.83 M.

What sectors do the BIL and TBF ETFs invest in?

BIL leans toward sectors like Sovereign. Meanwhile, TBF focuses on Sovereign.

What are the top holdings of the BIL ETF and TBF ETF?

BIL top holdings include USA, Bills 0% 3sep2026, USD (364D), USA, Bills 0% 10sep2026, USD (182D) and USA, Bills 0% 29oct2026, USD (364D). TBF holds in its top three: USA, Bills 0% 3sep2026, USD (364D), USA, Bills 0% 17sep2026, USD (182D) and USA, Bills 0% 13aug2026, USD (182D).

BILvsTBFETF Comparison

State Street SPDR Bloomberg 1-3 Month T-Bill ETF

ProShares Short 20+ Year Treasury ETF

BIL vs TBF performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the BIL and TBF ETFs performed in 2026?

As of September 9, 2026, BIL is up 2.45% year-to-date (YTD), while TBF has returned 6.7%. That puts TBF better performer ahead so far this year.

Which ETF is attracting more investor money: BIL or TBF?

Year-to-date, the BIL ETF saw +$4.21B in flows, compared to +$48M for TBF.

Which ETF is more volatile: BIL or TBF?

Over the past year, BIL had a volatility of 0.15%, while TBF experienced 9.15%.

Which ETF is bigger: BIL or TBF?

As of September 9, 2026, BIL holds $46.95 B in assets under management (AUM), while TBF manages $117.83 M.

What sectors do the BIL and TBF ETFs invest in?

BIL leans toward sectors like Sovereign. Meanwhile, TBF focuses on Sovereign.

What are the top holdings of the BIL ETF and TBF ETF?

BIL top holdings include USA, Bills 0% 3sep2026, USD (364D), USA, Bills 0% 10sep2026, USD (182D) and USA, Bills 0% 29oct2026, USD (364D). TBF holds in its top three: USA, Bills 0% 3sep2026, USD (364D), USA, Bills 0% 17sep2026, USD (182D) and USA, Bills 0% 13aug2026, USD (182D).

Which ETF is more diversified: BIL or TBF?

BIL holds 18 securities with 91.95% of its assets in the top 15. TBF has 11 securities.

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