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

BIL Price Performance — Growth of $10,000

Value of a $10,000 investment in BIL over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

BIL Drawdown

The "underwater" chart: BIL's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The State Street SPDR Bloomberg 1-3 Month T-Bill ETF is a government bond fund managed by State Street Investment Management with $49.8 billion in assets. It holds a C grade and ranks second among 22 peers in the US Bonds - Government category. The fund’s expense ratio of 0.1353% exceeds the category median of 0.07%, while its dividend yield of 3.67% trails the median of 3.95%. Top holdings consist of 74.4% of assets, with the largest single position being United States Treasury securities at 12.0%.

The fund’s price of $91.47 sits at 41.2% of its 52-week range, reflecting a modest upward trajectory over the past year. Short-term returns show acceleration, with the one-month gain of 0.30% expanding to a one-year return of 3.69%. This performance significantly outpaces the category median one-year return of -1.64%. The rating has remained unchanged at grade C across the last 35 tracked days. Historical data is available for only 3.0 years, limiting the depth of the long-term record.

Annualized volatility is recorded at a very low 0.20%, accompanied by a maximum drawdown of just -0.01%. The Sharpe ratio of -6.66 indicates that risk-adjusted returns have been negative relative to the risk-free rate during the measurement period. Beta data is not provided, so market sensitivity cannot be quantified from the available metrics. Liquidity is robust, with an average daily volume of 9,950,318 shares supporting easy entry and exit.

AI-generated summary based on the data on this page.

BIL Top Holdings

Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 74.4% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how BIL's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With BIL

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with BIL's top 10 — AGG overlaps most, holding 1 of the same companies as BIL's top 10 (74.4% of BIL's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 5.28% (as of 2026-10-07) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 15.08 (as of 2026-10-07) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

BIL Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 10.0M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $49.8B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: BIL is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

BIL Performance History

How BIL Compares to Other US Bonds - Government ETFs