Are AIRR and BIL in the same category?

AIRR is a thematic ETF and BIL is a bond ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.

Which returned more over the last year, AIRR or BIL?

In the year to Oct 28, 2026, with distributions reinvested, AIRR returned −0.2% and BIL +3.7%.

Which is cheaper, AIRR or BIL?

BIL is cheaper, by 0.55 percentage points a year. That is about $55 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

AIRR vs BIL: Differences, Returns & Fees

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Over the year to Oct 28, 2026, AIRR returned −0.2% to BIL's +3.7%, and BIL charges 0.14% to AIRR's 0.69%.

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Net assets on Oct 27, 2026: $8.4bn for First Trust RBA American Industrial Renaissance ETF and $48.7bn for SPDR Bloomberg 1-3 Month T-Bill ETF.

AIRR on its own →BIL on its own →

At a glance

−0.2%

AIRR total return, 1 year

+3.7%

BIL total return, 1 year

0.69%

AIRR expense ratio

0.14%

BIL expense ratio

Pair scorecard

BIL costs 0.55 points a year less; their one-year returns differ by 3.9 points; BIL is 5.8 times larger.

AIRR vs BIL: Differences, Returns & Fees
Measure	AIRR	BIL
Return
Measure	AIRR	BIL
Total return, 1 year	−0.2%	+3.7%
Drawdown
Measure	AIRR	BIL
Below its all-time high	25.5%, high on Jun 22, 2026
Against its benchmark
Measure	AIRR	BIL
What it tracks	Reshoring and manufacturing	Bloomberg 1-3 Month U.S. Treasury Bill Index
Against the S&P 500, 1 year	behind by 13.9 pts
Against its benchmark, 1 year	behind by 13.9 pts
Cost and size
Measure	AIRR	BIL
Expense ratio	0.69%	0.14%
Net assets, as of Oct 27, 2026	$8.4bn	$48.7bn
Active share vs the S&P 500	100%
Holdings
Measure	AIRR	BIL
Holdings in common	0%
In the S&P 500, by weight	15%
Top ten holdings, share of the fund	33%

Holdings in common uses holdings dated Oct 27, 2026. Method

What they share

By the books each fund has filed, AIRR and BIL hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first AIRR BIL

Only in one fund ↓

Only in AIRR

C.H. Robinson Worldwide, Inc. 3.83%

Karman Holdings Inc. 3.51%

Kratos Defense & Security Solutions, Inc. 3.47%

BWX Technologies, Inc. 3.33%

Herc Holdings, Inc. 3.30%

Owens Corning 3.20%

RBC Bearings Incorporated 3.19%

Dycom Industries, Inc. 3.13%

Only in BIL

TREASURY BILL 12/26 0.00000 7.94%

TREASURY BILL 12/26 0.00000 6.66%

TREASURY BILL 12/26 0.00000 6.46%

TREASURY BILL 12/26 0.00000 6.40%

TREASURY BILL 12/26 0.00000 6.39%

TREASURY BILL 11/26 0.00000 6.26%

TREASURY BILL 12/26 0.00000 6.21%

TREASURY BILL 11/26 0.00000 4.85%

Check overlap with more funds →

Side by side

AIRR First Trust RBA American Industrial Renaissance ETF BIL SPDR Bloomberg 1-3 Month T-Bill ETF

Where it sits Thematic ETF Bond ETF

Issuer First Trust State Street

What it is Reshoring and manufacturing Tracks an index of 1-3 month T-bills

Total return, 1 year −0.2% +3.7%

Its benchmark over the same days +13.7% (VOO) not measured

Gap to its benchmark −13.9 pts vs VOO not measured

Expense ratio 0.69% 0.14%

Holdings 55 26

Net assets, as of Oct 27, 2026 $8.4bn $48.7bn

AIRR and BIL on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Alert

About each fund

AIRR

By weight, 15% of AIRR's portfolio is stocks that are also in the S&P 500, from its filing for Jun 30, 2026; its active share against the S&P 500 is 100%.

The top ten holdings are 33% of the fund across 55 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −0.2% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 13.9 pts. It sits 25.5% below its all-time high of Jun 22, 2026.

BIL

BIL tracks an index of 1-3 month T-bills. Over the year to Oct 28, 2026 it returned +3.7% with distributions reinvested. The prospectus expense ratio is 0.14% a year.

Questions people ask

Are AIRR and BIL in the same category?: AIRR is a thematic ETF and BIL is a bond ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, AIRR or BIL?: In the year to Oct 28, 2026, with distributions reinvested, AIRR returned −0.2% and BIL +3.7%.
Which is cheaper, AIRR or BIL?: BIL is cheaper, by 0.55 percentage points a year. That is about $55 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

AIRR vs BOXX AIRR vs VBIL AIRR vs SGOV AIRR vs TLT BIL vs XBI BIL vs IBB BIL vs GDX BIL vs REMX

Where to next

AIRR on its own →BIL on its own →Hold both: look the portfolio through →Rankings →AIRR dividend history →AIRR holdings →BIL dividend history →BIL holdings →Standards and sources →

Sources and dates

AIRR filings on SEC EDGAR ↗

AIRR prospectus with the expense ratio (SEC) ↗

First Trust page for AIRR ↗

BIL filings on SEC EDGAR ↗

BIL prospectus with the expense ratio (SEC) ↗

State Street website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

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ETFIQ, AIRR against BIL, data as of Oct 28, 2026. https://etfiq.com/compare/any/airr-vs-bil

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.