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 (Ticker: BIL) is a government bond ETF, tracking the performance of short-term U.S. Treasury bills. Issued by State Street Investment Management, it ranks #288 out of 458 tracked ETFs across all categories, indicating a modest position in the market. The fund has an expense ratio of 0.1353%, which is relatively low, and a dividend yield of 3.81%, providing a steady income stream for investors. Despite its low price of $91.60, the ETF has an AUM of $47.3B, suggesting strong investor adoption and confidence in its performance and stability.

The performance of BIL shows a consistent upward trend over the past year, with a 1-year return of +3.77%. This is followed by a 3-year return of +14.11%, indicating a strong long-term performance. However, the short-term returns, such as the 1-day (+0.03%) and 1-week (+0.08%) returns, are relatively flat, suggesting that the fund's performance is more pronounced over longer periods. The 1-month (+0.32%) and 3-month (+0.92%) returns also show a gradual increase, but the 6-month (+1.79%) and year-to-date (+2.26%) returns indicate a more pronounced upward trend, suggesting that the fund has been performing well over the past six months and year.

BIL is categorized as having a 'Very Low' volatility label, which is consistent with its nature as a short-term government bond ETF. The absence of a beta value further supports this, as government bonds, especially those with short maturities, are typically considered to have low beta. The Sharpe ratio of -6.29 is negative, which is unusual and suggests that the fund's returns have been negative relative to its risk. However, the maximum drawdown of -0.01% is extremely low, indicating that the fund has not experienced significant losses. This combination of very low volatility, a negative Sharpe ratio, and a minimal drawdown suggests that BIL is a relatively safe investment, suitable for risk-averse investors, and is likely to provide stable returns with minimal price fluctuations in both up and down markets.

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

BIL Top Holdings

Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 74.3% 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 (74.3% 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: 4.69% (as of 2026-08-20) — 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): 16.01 (as of 2026-08-20) — 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: 3.63% (as of 2026-07-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

See it in a portfolio

BIL is one of the twelve funds in the portfolio game. Start with 25% of a virtual $10,000 in it, build the rest however you like, and the builder shows the range this mix has actually produced over every five-day stretch of the last three years — before you commit to anything.

Free, no sign-up, virtual money only.

BIL Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is — and average daily volume is 10.0M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $47.3B 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