Data as of Oct 28, 2026.
BIL vs JAAA: Differences, Returns & Fees
BIL's duration was 0.2 years on Jun 30, 2026 and JAAA's 0.0 on Jul 31, 2026; BIL charges 0.14% to JAAA's 0.20%.
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Net assets: $48.7bn on Oct 27, 2026 for SPDR Bloomberg 1-3 Month T-Bill ETF, and $32.5bn on Oct 28, 2026 for Janus Henderson AAA CLO ETF.
Pair scorecard
BIL costs 0.06 points a year less; their one-year returns differ by 1.0 point; BIL is 1.5 times larger.
| Measure | BIL | JAAA |
|---|---|---|
| Return | ||
| Total return, 1 year | +3.7% | +4.7% |
| Benchmark | ||
| What it tracks | Bloomberg 1-3 Month U.S. Treasury Bill Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.14% | 0.20% |
| Net assets, as of Oct 27, 2026 | $48.7bn | $32.5bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Jun 30, 2026 and Jul 31, 2026. Method
Risk and return
Oct 30, 2020 to Oct 23, 2026 · 312 weekly returnsJAAA returned more: +31.1% to +19.9%. BIL swung less: 0.3% to 1.3%. BIL fell less at its worst: −0.1% to −2.5%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | BIL | JAAA | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +19.9% | +31.1% | JAAA | Price change plus distributions, reinvested. |
| Annualized | +3.1% | +4.6% | JAAA | Total return as a yearly rate. |
| Price return | +0.1% | +1.6% | JAAA | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 0.3% | 1.3% | BIL | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 0.3% | 1.0% | BIL | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −0.1% | −2.5% | BIL | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | −0.89 | 0.93 | JAAA | Return above Treasury bills per unit of volatility. |
| Sortino | −1.06 | 1.24 | JAAA | Return above Treasury bills per unit of downside deviation. |
| Calmar | 23.41 | 1.82 | BIL | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 312 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, BIL and JAAA hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.
half
0% in common
Only in one fund ↓
Side by side
BIL and JAAA on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
BIL and JAAA do different jobs. What does each one do in a portfolio?
- What each follows. BIL follows Bloomberg 1-3 Month U.S. Treasury Bill Index and JAAA follows No index, actively managed.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Jun 30, 2026 and Jul 31, 2026).
- Number of holdings. BIL holds 26 positions and JAAA holds 598.
Data as of Oct 28, 2026.
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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.
JAAA
JAAA is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +4.7% with distributions reinvested. The prospectus expense ratio is 0.20% a year.
Questions people ask
- Which returned more over the last year, BIL or JAAA?
- In the year to Oct 28, 2026, with distributions reinvested, BIL returned +3.7% and JAAA +4.7%.
- Which is cheaper, BIL or JAAA?
- BIL is cheaper, by 0.06 percentage points a year. That is about $6 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 JAAA, data as of Oct 28, 2026. https://etfiq.com/compare/any/bil-vs-jaaa
ETFIQ. (Oct 28, 2026). BIL against JAAA. Retrieved from https://etfiq.com/compare/any/bil-vs-jaaa
[BIL against JAAA (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/bil-vs-jaaa)
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