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

In the year to Oct 28, 2026, with distributions reinvested, BIL returned +3.7% and PFF −4.2%.

Which is cheaper, BIL or PFF?

BIL is cheaper, by 0.31 percentage points a year. That is about $31 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

BIL vs PFF: Differences, Returns & Fees

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Over the year to Oct 28, 2026, BIL returned +3.7% to PFF's −4.2%, and BIL charges 0.14% to PFF's 0.45%.

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Net assets on Oct 27, 2026: $48.7bn for SPDR Bloomberg 1-3 Month T-Bill ETF and $11.8bn for iShares Preferred and Income Securities ETF.

BIL on its own →PFF on its own →

At a glance

+3.7%

BIL total return, 1 year

−4.2%

PFF total return, 1 year

0.14%

BIL expense ratio

0.45%

PFF expense ratio

Pair scorecard

BIL costs 0.31 points a year less; their one-year returns differ by 7.9 points; BIL is 4.1 times larger.

BIL vs PFF: Differences, Returns & Fees
Measure	BIL	PFF
Return
Measure	BIL	PFF
Total return, 1 year	+3.7%	−4.2%
Drawdown
Measure	BIL	PFF
Below its high		7.1%, high on May 8, 2026
Benchmark
Measure	BIL	PFF
What it tracks	Bloomberg 1-3 Month U.S. Treasury Bill Index	ICE Exchange-Listed Preferred & Hybrid Securities Index
Cost and size
Measure	BIL	PFF
Expense ratio	0.14%	0.45%
Net assets, as of Oct 27, 2026	$48.7bn	$11.8bn
Holdings
Measure	BIL	PFF
Holdings in common	0%
In the S&P 500, by weight		0%
Top ten holdings, share of the fund		22.7%

Holdings in common uses holdings dated Jun 30, 2026. Method

What they share

By the books each fund has filed, BIL and PFF hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first BIL PFF

Only in one fund ↓

Only in BIL

U.S. Treasury Bills, due Aug 6, 2026 12.04%

U.S. Treasury Bills, due Sep 3, 2026 9.04%

U.S. Treasury Bills, due Aug 27, 2026 7.22%

U.S. Treasury Bills, due Sep 17, 2026 7.03%

U.S. Treasury Bills, due Sep 10, 2026 6.98%

U.S. Treasury Bills, due Sep 24, 2026 6.97%

U.S. Treasury Bills, due Aug 13, 2026 6.85%

U.S. Treasury Bills, due Aug 20, 2026 6.49%

Only in PFF

BOEING COMPANY (THE) 6% SER A DEP SHS REPSTG 1/20TH INT MANDATORY CONV PFD 3.93%

STRATEGY INC VARIABLE RATE SERIES A PERPETUAL STRETCH PREFERRED STOCK 2.95%

WELLS FARGO & COMPANY 7.5% NON-CUMULATIVE PERPETUAL CONVERTIBLE CLASS A PREFERRED STOCK, SERIES L 2.33%

ORACLE CORP DEPOSITARY SHARES EACH REPRESENTING A 1/2,000TH INTEREST IN A SHARE OF 6.50% SERIES D MANDATORY CONVERTIBLE PREFERRED STOCK 2.28%

HEWLETT PACKARD ENTERPRISE COMPANY 7.625% SERIES C MANDATORY CONVERTIBLE PREFERRED STOCK 1.76%

BANK OF AMERICA CORP 7.25% NON-CUMULATIVE PERPETUAL CONVERTIBLE PREFERRED STOCK SERIES L 1.45%

CITIGROUP CAPITAL XIII FIXED/FLOAT TRUST PREFERRED SECURITIES 1.31%

ALBEMARLE CORP DEPOSITARY SHARES EACH REPRESENTING A 1/20TH INTEREST IN A SHARE OF 7.25% SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK 1.29%

Check overlap with more funds →

Side by side

BIL SPDR Bloomberg 1-3 Month T-Bill ETF PFF iShares Preferred and Income Securities ETF

Where it sits Bond ETF Bond ETF

Issuer State Street iShares

What it is Tracks an index of 1-3 month T-bills Tracks an index of Preferred and Income Securities

Total return, 1 year +3.7% −4.2%

Its benchmark over the same days not measured +13.6% (MLRG)

Gap to its benchmark not measured −17.8 pts vs MLRG

Expense ratio 0.14% 0.45%

Holdings 26 453

Net assets, as of Oct 27, 2026 $48.7bn $11.8bn

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

Alert

About each fund

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.

PFF

PFF tracks an index of Preferred and Income Securities. Over the year to Oct 28, 2026 it returned −4.2% with distributions reinvested, against +13.6% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.45% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 453 positions, with the top ten at 22.7%. It sat 7.1% below its high of May 8, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, BIL or PFF?: In the year to Oct 28, 2026, with distributions reinvested, BIL returned +3.7% and PFF −4.2%.
Which is cheaper, BIL or PFF?: BIL is cheaper, by 0.31 percentage points a year. That is about $31 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

BIL vs SPSB BIL vs EMB BIL vs VGLT BIL vs TIP PFF vs SHV PFF vs PULS PFF vs USFR MINT vs PFF

Where to next

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

Sources and dates

BIL filings on SEC EDGAR ↗

BIL prospectus with the expense ratio (SEC) ↗

State Street website ↗

PFF filings on SEC EDGAR ↗

PFF prospectus with the expense ratio (SEC) ↗

iShares page for PFF ↗

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.

Cite this pageCitation, APA and Markdown

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

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