TBFvsBILETF Comparison
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ProShares Short 20+ Year Treasury ETF (TBF) belongs to the Inverse Fixed Income segment. State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) is part of the Money Market Bonds segment. Both ETFs have the same top 1 sector exposures: Sovereign. TBF is more expensive with a Total Expense Ratio (TER) of 1%, versus 0.1353% for BIL. TBF is up 6.38% year-to-date (YTD) with +$46M in YTD flows. BIL performs worse with 2.37% YTD performance, and +$3.49B in YTD flows. Run a side-by-side ETF comparison of TBF and BIL 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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TBF vs BIL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TBF BIL | +0.42%+0.28% | +3.85%+0.90% | +6.38%+2.37% | +4.69%+3.70% | +20.22%+14.11% | +79.84%+19.29% |
| Flows | TBF BIL | +$11M-$953M | -$20M+$198M | +$46M+$3.49B | +$43M+$4.34B | -$82M+$16.88B | -$713M+$34.18B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TBF BIL | +10.10%+0.14% | +9.46%+0.15% | +13.39%+0.19% | +15.54%+0.20% |
| Max drawdown | TBF BIL | -3.53%n/a | -6.60%n/a | -17.72%n/a | -17.72%-0.05% |
| Max drawdown duration | TBF BIL | 32dn/a | 198dn/a | 579dn/a | 579d274d |
Trading data
TBF | BIL | |
Last sale 9/2/2026 at 1:30 PM | $25.49 | $91.40 |
| Previous close 09/01/2026 | $25.52 | $91.39 |
| Consolidated volume 09/01/2026 | ||
| 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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TBF | BIL | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
TBF | BIL | |
|---|---|---|
| Last price | $25.49 | $91.40 |
| 1D performance | -0.12% | +0.01% |
| AuM | $116.47 M | $46.18 B |
| E/R | 1% | 0.1353% |
Characteristics
TBF | BIL | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | ProShares | State Street Investment Management |
| Benchmark | ICE U.S. Treasury 20+ Year Index | Bloomberg U.S. Treasury Bills 1-3 Months Index |
| N° of holdings | 11 | 18 |
| Asset class | Bonds | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 18, 2009 | May 25, 2007 |
| ESG | No | No |
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Exposure
Countries
TBF
USA
74.17%
Other
25.83%
BIL
USA
98.9%
Other
1.1%
Sectors
TBF
Sovereign
74.17%
Other
25.83%
BIL
Sovereign
98.9%
Other
1.1%
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Diversification
TBF
Total weight of top 11 holdings out of 11
74.17%
BIL
Total weight of top 15 holdings out of 15
91.95%
Top 15 holdings
Data as of July 31, 2026
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%
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%
Frequently asked questions about TBF and BIL
How have the TBF and BIL ETFs performed in 2026?
As of September 1, 2026, TBF is up 6.38% year-to-date (YTD), while BIL has returned 2.37%. That puts TBF better performer ahead so far this year.
Which ETF is attracting more investor money: TBF or BIL?
Year-to-date, the TBF ETF saw +$46M in flows, compared to +$3.49B for BIL.
Which ETF is more volatile: TBF or BIL?
Over the past year, TBF had a volatility of 9.46%, while BIL experienced 0.15%.
Which ETF is bigger: TBF or BIL?
As of September 1, 2026, TBF holds $116.47 M in assets under management (AUM), while BIL manages $46.18 B.
What sectors do the TBF and BIL ETFs invest in?
TBF leans toward sectors like Sovereign. Meanwhile, BIL focuses on Sovereign.
What are the top holdings of the TBF ETF and BIL ETF?
TBF top holdings include USA, Bills 0% 3sep2026, USD (364D), USA, Bills 0% 17sep2026, USD (182D) and USA, Bills 0% 13aug2026, USD (182D). BIL holds in its top three: USA, Bills 0% 3sep2026, USD (364D), USA, Bills 0% 10sep2026, USD (182D) and USA, Bills 0% 29oct2026, USD (364D).
Which ETF is more diversified: TBF or BIL?
TBF has 11 securities. BIL has 18 securities and a top 15 weight of 91.95%.
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