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

Overview

The State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) operates within the US Bonds - Government category, which ETFValuer tracks with a total of six funds. Issued by State Street Investment Management, the fund has accumulated assets under management of $47.1 billion and trades at a price of $91.45. It holds an overall rank of #91 out of 120 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 54.9 out of 100. The fund charges an expense ratio of 0.1353% while offering a dividend yield of 3.85%. The substantial asset size relative to the small category count suggests significant investor adoption compared to its peers. This combination of high assets and a mid-tier grade reflects a widely held vehicle with moderate overall evaluation metrics.

Over the last day, the fund returned 0.00%, followed by a 1-week gain of +0.09% and a 1-month increase of +0.29%. The 3-month return accelerated to +0.59%, while the 6-month and year-to-date figures both stand at +1.49%. A one-year return of +3.51% indicates a positive trend over the annual horizon, which extends to a 3-year return of +13.96%. The data shows a consistent upward trajectory from the short-term daily figures through the multi-year period. This pattern demonstrates steady accumulation of returns without significant divergence between the shorter and longer timeframes.

The fund carries a volatility label of Very Low, which aligns with its beta data being unavailable. A Sharpe ratio of -4.15 suggests that the risk-adjusted returns have been negative relative to the risk-free rate over the measured period. Despite the negative Sharpe ratio, the maximum drawdown was limited to -0.29%, indicating minimal loss during market downturns. The combination of very low volatility and a small maximum drawdown points to a stable behavior profile with limited downside exposure. However, the negative Sharpe ratio implies that the returns generated have not sufficiently compensated for the risk taken, even if that risk is minimal.

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.

Market Backdrop

10-Year Treasury Yield: 4.55% (as of 2026-07-07) — 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): 16.13 (as of 2026-07-07) — 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: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

BIL Performance History

How BIL Compares to Other US Bonds - Government ETFs