SMBvsBILSETF Comparison
VS
ETF 2
BILS
State Street SPDR Bloomberg 3-12 Month T-Bill ETF
This fund is part of
Money Market Bonds
+0.03%
VanEck Short Muni ETF (SMB) belongs to the Municipal Bonds segment. State Street SPDR Bloomberg 3-12 Month T-Bill ETF (BILS) is part of the Money Market Bonds segment. SMB's top 1 sector exposures are Municipal. In contrast, BILS's top sector exposures are Sovereign. SMB is less expensive with a Total Expense Ratio (TER) of 0.07%, versus 0.1354% for BILS. SMB is up 0.17% year-to-date (YTD) with +$81M in YTD flows. BILS performs better with 2.75% YTD performance, and +$44M in YTD flows. Run a side-by-side ETF comparison of SMB and BILS below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
SMB vs BILS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SMB BILS | +0.03%+0.35% | -0.65%+0.90% | +0.17%+2.75% | +0.63%+3.61% | +9.84%+14.02% | +5.42%+19.21% |
| Flows | SMB BILS | +$57M+$40M | +$63M+$65M | +$81M+$44M | +$88M+$40M | +$125M+$1.11B | +$58M+$3.89B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMB BILS | +2.25%+0.19% | +1.41%+0.18% | +1.43%+0.22% | +1.53%+0.27% |
| Max drawdown | SMB BILS | -2.28%-0.00% | -2.49%-0.00% | -2.49%-0.00% | -6.38%-0.36% |
| Max drawdown duration | SMB BILS | 64d2d | 229d2d | 229d2d | 995d342d |
Trading data
SMB | BILS | |
Last sale 10/16/2026 at 1:30 PM | $17.10 | $99.24 |
| Previous close 10/15/2026 | $17.18 | $99.19 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
SMB | BILS | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
SMB | BILS | |
|---|---|---|
| Last price | $17.10 | $99.24 |
| 1D performance | -0.47% | +0.05% |
| AuM | $371.23 M | $3.90 B |
| E/R | 0.07% | 0.1354% |
Characteristics
SMB | BILS | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | VanEck | State Street Investment Management |
| Benchmark | ICE Short AMT-Free Broad National Municipal Index | Bloomberg 3–12 Month U.S. Treasury Bill Index |
| N° of holdings | 234 | 18 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | February 22, 2008 | September 23, 2020 |
| ESG | No | No |
Advertisement
Exposure
Countries
SMB
USA
72.14%
Other
27.86%
BILS
USA
74.24%
Other
25.76%
Sectors
SMB
Municipal
72.14%
Other
27.86%
BILS
Sovereign
74.24%
Other
25.76%
Advertisement
Diversification
SMB
Total weight of top 15 holdings out of 15
13.24%
BILS
Total weight of top 15 holdings out of 15
75.05%
Top 15 holdings
Data as of August 31, 2026
SMB
US64972LAF04
1.05%
US45506EMV29
1.03%
US160853VD67
1.03%
California, 5% 1apr2030, USD
1.03%
Southeast Energy Authority, 4% 1dec2051, USD
0.95%
Massachusetts, 5% 1may2031, USD
0.91%
US48542AFE64
0.90%
New Jersey, 2% 1jun2030, USD (2021)
0.90%
California, 5% 1oct2031, USD
0.89%
US64972KKJ33
0.85%
US13078HAY80
0.79%
Massachusetts, 5% 1oct2031, USD (2022)
0.79%
King, 4% 1jul2030, USD
0.72%
Black Belt Energy Gas District, 4% 1oct2052, USD (2021)
0.72%
Connecticut, 3% 15jan2032, USD
0.70%
BILS
USA, Bills 0% 21jan2027, USD (364D)
7.28%
USA, Bills 0% 18feb2027, USD (364D)
7.10%
USA, Bills 0% 24dec2026, USD (363D)
7.01%
USA, Bills 0% 7jan2027, USD (182D)
4.60%
USA, Bills 0% 14jan2027, USD (182D)
4.60%
USA, Bills 0% 28jan2027, USD (182D)
4.59%
US912797WB95
4.58%
US912797WC78
4.57%
USA, Bills 0% 3dec2026, USD (182D)
4.49%
USA, Bills 0% 10dec2026, USD (182D)
4.48%
USA, Bills 0% 17dec2026, USD (182D)
4.48%
USA, Bills 0% 4feb2027, USD (182D)
4.43%
USA, Bills 0% 31dec2026, USD (182D)
4.43%
US912797WG82
4.20%
US912797WH65
4.20%
Frequently asked questions about SMB and BILS
How have the SMB and BILS ETFs performed in 2026?
As of October 16, 2026, SMB is up 0.17% year-to-date (YTD), while BILS has returned 2.75%. That puts BILS better performer ahead so far this year.
Which ETF is attracting more investor money: SMB or BILS?
Year-to-date, the SMB ETF saw +$81M in flows, compared to +$44M for BILS.
Which ETF is more volatile: SMB or BILS?
Over the past year, SMB had a volatility of 1.41%, while BILS experienced 0.18%.
Which ETF is bigger: SMB or BILS?
As of October 16, 2026, SMB holds $371.23 M in assets under management (AUM), while BILS manages $3.90 B.
What sectors do the SMB and BILS ETFs invest in?
SMB leans toward sectors like Municipal. Meanwhile, BILS focuses on Sovereign.
What are the top holdings of the SMB ETF and BILS ETF?
SMB top holdings include US64972LAF04, US45506EMV29 and US160853VD67. BILS holds in its top three: USA, Bills 0% 21jan2027, USD (364D), USA, Bills 0% 18feb2027, USD (364D) and USA, Bills 0% 24dec2026, USD (363D).
Which ETF is more diversified: SMB or BILS?
SMB holds 330 securities with 13.24% of its assets in the top 15. BILS has 23 securities and a top 15 weight of 75.05%.
Advertisement
Latest news about SMB & BILS
