TAFLvsBILSETF 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%
AB Tax-Aware Long Municipal ETF (TAFL) 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. TAFL's top 1 sector exposures are Municipal. In contrast, BILS's top sector exposures are Sovereign. TAFL is more expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.1354% for BILS. TAFL is down -0.68% year-to-date (YTD) with +$14M in YTD flows. BILS performs better with 2.94% YTD performance, and +$109M in YTD flows. Run a side-by-side ETF comparison of TAFL 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.
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TAFL vs BILS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/29/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAFL BILS | +4.33%+0.39% | -2.33%+0.95% | -0.68%+2.94% | -0.85%+3.66% | n/a+13.99% | n/a+19.43% |
| Flows | TAFL BILS | -$4M+$65M | +$276K+$79M | +$14M+$109M | +$28M+$119M | -+$1.12B | -+$3.96B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAFL BILS | +6.83%+0.19% | +4.25%+0.18% | n/a+0.22% | n/a+0.27% |
| Max drawdown | TAFL BILS | -6.79%n/a | -7.70%-0.00% | n/a-0.00% | n/a-0.35% |
| Max drawdown duration | TAFL BILS | 77dn/a | 115d2d | n/a2d | n/a322d |
Trading data
TAFL | BILS | |
Last sale 10/30/2026 at 1:30 PM | $24.11 | $99.43 |
| Previous close 10/29/2026 | $24.04 | $99.39 |
| Consolidated volume 10/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 30, 2026
1-year trailing difference
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TAFL
is actively managed and doesn’t replicate an indexTAFL | BILS | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/30/2026 at 1:30 PM
Live
Closed
TAFL | BILS | |
|---|---|---|
| Last price | $24.11 | $99.43 |
| 1D performance | +0.31% | +0.04% |
| AuM | $58.89 M | $3.97 B |
| E/R | 0.28% | 0.1354% |
Characteristics
TAFL | BILS | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | AllianceBernstein | State Street Investment Management |
| Benchmark | - | Bloomberg 3–12 Month U.S. Treasury Bill Index |
| N° of holdings | 62 | 13 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 13, 2023 | September 23, 2020 |
| ESG | No | No |
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Exposure
Countries
TAFL
USA
56.23%
Other
43.77%
BILS
USA
53.93%
Other
46.07%
Sectors
TAFL
Municipal
56.23%
Other
43.77%
BILS
Sovereign
53.93%
Other
46.07%
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Diversification
TAFL
Total weight of top 15 holdings out of 15
29.2%
BILS
Total weight of top 15 holdings out of 15
74.81%
Top 15 holdings
Data as of September 30, 2026
TAFL
US896035DE92
2.94%
Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025)
2.51%
Chicago, 5.25% 1nov2061, USD (2026A)
2.46%
West Linn-Wilsonville School District №3JT, 5% 15jun2046, USD (2026B)
2.09%
New York Dormitory Authority, 5% 15mar2055, USD (2025C)
1.94%
South Carolina Public Service Authority, 5.25% 1dec2054, USD (2024)
1.91%
US13048V7N23
1.75%
US494791UA28
1.72%
US544446BT39
1.71%
US13013JCM62
1.71%
US59333P7M43
1.71%
Cuyahoga, 5.5% 1dec2061, USD (2026)
1.70%
US052470AW12
1.69%
US576000E334
1.68%
Chicago O'Hare International Airport, 5.25% 1jan2040, USD (2025A)
1.68%
BILS
USA, Bills 0% 21jan2027, USD (364D)
7.30%
USA, Bills 0% 18feb2027, USD (364D)
7.13%
USA, Bills 0% 18mar2027, USD (364D)
7.10%
US912797WM50
4.64%
USA, Bills 0% 7jan2027, USD (182D)
4.62%
USA, Bills 0% 14jan2027, USD (182D)
4.61%
USA, Bills 0% 28jan2027, USD (182D)
4.61%
US912797WB95
4.60%
US912797WC78
4.59%
USA, Bills 0% 4feb2027, USD (182D)
4.45%
US912797WD51
4.40%
US912797WL77
4.39%
US912797WK94
4.27%
US912797WN34
4.05%
US912797WQ64
4.05%
Frequently asked questions about TAFL and BILS
How have the TAFL and BILS ETFs performed in 2026?
As of October 29, 2026, TAFL is down -0.68% year-to-date (YTD), while BILS has returned 2.94%. That puts BILS better performer ahead so far this year.
Which ETF is attracting more investor money: TAFL or BILS?
Year-to-date, the TAFL ETF saw +$14M in flows, compared to +$109M for BILS.
Which ETF is more volatile: TAFL or BILS?
Over the past year, TAFL had a volatility of 4.25%, while BILS experienced 0.18%.
Which ETF is bigger: TAFL or BILS?
As of October 29, 2026, TAFL holds $58.89 M in assets under management (AUM), while BILS manages $3.97 B.
What sectors do the TAFL and BILS ETFs invest in?
TAFL leans toward sectors like Municipal. Meanwhile, BILS focuses on Sovereign.
What are the top holdings of the TAFL ETF and BILS ETF?
TAFL top holdings include US896035DE92, Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025) and Chicago, 5.25% 1nov2061, USD (2026A). BILS holds in its top three: USA, Bills 0% 21jan2027, USD (364D), USA, Bills 0% 18feb2027, USD (364D) and USA, Bills 0% 18mar2027, USD (364D).
Which ETF is more diversified: TAFL or BILS?
TAFL holds 123 securities with 29.2% of its assets in the top 15. BILS has 23 securities and a top 15 weight of 74.81%.
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Latest news about TAFL & BILS
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