Data as of Oct 28, 2026.
BIL vs FENI: Differences, Returns & Fees
Over the year to Oct 28, 2026, BIL returned +3.7% to FENI's +14.2%; 0% of their weight is in the same names.
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Net assets: $48.7bn on Oct 27, 2026 for SPDR Bloomberg 1-3 Month T-Bill ETF, and $11.5bn on Sep 30, 2026 for Fidelity Enhanced International ETF.
Pair scorecard
BIL costs 0.14 points a year less; their one-year returns differ by 10.5 points; BIL is 4.3 times larger.
| Measure | BIL | FENI |
|---|---|---|
| Return | ||
| Total return, 1 year | +3.7% | +14.2% |
| Drawdown | ||
| Below its high | 4.7%, high on Aug 13, 2026 | |
| Benchmark | ||
| What it tracks | Bloomberg 1-3 Month U.S. Treasury Bill Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.14% | 0.28% |
| Net assets, as of Sep 30, 2026 | $49.8bn | $11.5bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 0% | |
| Top ten holdings, share of the fund | 16.5% | |
Holdings in common uses holdings dated Jun 30, 2026 and Oct 27, 2026. Method
Risk and return
Dec 1, 2023 to Oct 23, 2026 · 151 weekly returnsFENI returned more: +68.2% to +13.2%. BIL swung less: 0.1% to 14.5%. BIL fell less at its worst: 0.0% to −11.2%.
Full scorecard
8 measures, with how each is measured Open ↓
| Measure | BIL | FENI | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +13.2% | +68.2% | FENI | Price change plus distributions, reinvested. |
| Annualized | +4.4% | +19.6% | FENI | Total return as a yearly rate. |
| Price return | +0.2% | +54.7% | FENI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 0.1% | 14.5% | BIL | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 0.1% | 10.2% | BIL | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | 0.0% | −11.2% | BIL | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | −1.06 | 1.01 | FENI | Return above Treasury bills per unit of volatility. |
| Sortino | −1.41 | 1.43 | FENI | Return above Treasury bills per unit of downside deviation. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 151 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, BIL and FENI hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
BIL and FENI on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
No client brief for this pair: the two funds' holdings are dated 119 days apart.
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.
FENI
FENI is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +14.2% with distributions reinvested, against +12.1% for its benchmark, the MSCI EAFE Index. The prospectus expense ratio is 0.28% a year. By its holdings filed for Jun 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 386 positions, with the top ten at 16.5%. It sat 4.7% below its high of Aug 13, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, BIL or FENI?
- In the year to Oct 28, 2026, with distributions reinvested, BIL returned +3.7% and FENI +14.2%.
- Which is cheaper, BIL or FENI?
- BIL is cheaper, by 0.14 percentage points a year. That is about $14 on $10,000 held for a year. Fees come from each fund's prospectus.
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, BIL against FENI, data as of Oct 28, 2026. https://etfiq.com/compare/any/bil-vs-feni
ETFIQ. (Oct 28, 2026). BIL against FENI. Retrieved from https://etfiq.com/compare/any/bil-vs-feni
[BIL against FENI (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/bil-vs-feni)
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