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BIL vs RAVI: Differences, Returns & Fees

BIL's duration was 0.2 years on Jun 30, 2026 and RAVI's 0.5 on Jul 31, 2026; BIL charges 0.14% to RAVI's 0.25%. Net assets: $51.1bn on Oct 20, 2026 for SPDR Bloomberg 1-3 Month T-Bill ETF, and $1.5bn on Jul 31, 2026 for Northern Trust Ultra-Short Fixed Income ETF.

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Answers cite the figures on this page.

BIL costs 0.11 points a year less; their one-year returns differ by 0.1 points; BIL is far larger, $47.3bn against $1.5bn.

BIL vs RAVI: Differences, Returns & Fees
BILRAVI
Expense ratio0.14%0.25%
Net assets, as of Jul 31, 2026$47.3bn$1.5bn
Total return, 1 year+3.7%+3.8%
What it tracks1-3 month T-billsNo index, actively managed
Holdings in commonreport dates differ

Holdings in common uses holdings dated Jun 30, 2026 and Jul 31, 2026.

+3.7%
BIL total return, 1 year
+3.8%
RAVI total return, 1 year
0.14%
BIL expense ratio
0.25%
RAVI expense ratio

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Client brief · page 1 of 2Report BR-95D90E2C2E

BIL and RAVI are built for the same job. How do they differ in cost, holdings and results?

  1. What each follows. BIL follows 1-3 month T-bills and RAVI follows No index, actively managed.
  2. Number of holdings. BIL holds 18 positions and RAVI holds 244.
  3. Cost. BIL charges 0.14% of assets a year and RAVI 0.25%, a gap of 0.11 points.

Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.

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On the same fields

BIL
SPDR Bloomberg 1-3 Month T-Bill ETF
RAVI
Northern Trust Ultra-Short Fixed Income ETF
Where it sits Bond ETF Bond ETF
Issuer State Street Northern Trust
What it is Tracks an index of 1-3 month T-bills Actively managed
Total return, 1 year +3.7% +3.8%
Expense ratio 0.14% 0.25%
Holdings 18 244
Net assets, BIL as of Oct 20, 2026 and RAVI as of Jul 31, 2026 $51.1bn $1.5bn

BIL and RAVI on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.

About BIL

BIL tracks an index of 1-3 month T-bills. Over the year to Oct 20, 2026 it returned +3.7% with distributions reinvested. The prospectus expense ratio is 0.14% a year.

About RAVI

RAVI is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned +3.8% with distributions reinvested. The prospectus expense ratio is 0.25% a year.

Questions people ask

Which returned more over the last year, BIL or RAVI?
In the year to Oct 20, 2026, with distributions reinvested, BIL returned +3.7% and RAVI +3.8%.
Which is cheaper, BIL or RAVI?
BIL is cheaper, by 0.11 percentage points a year. That is about $11 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
BIL vs YEARBIL vs VGUSBIL vs IBTGBIL vs BILZJPST vs RAVIRAVI vs SHVRAVI vs SGOVPULS vs RAVI
BIL on its own →RAVI on its own →Hold both: look the portfolio through →Rankings →BIL dividend history →BIL holdings →RAVI dividend history →RAVI holdings →Standards and sources →
Where these figures came from
BIL filings on SEC EDGAR ↗BIL prospectus with the expense ratio (SEC) ↗State Street website ↗RAVI filings on SEC EDGAR ↗RAVI prospectus with the expense ratio (SEC) ↗Northern Trust website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

Cite this pageCitation, APA and Markdown

ETFIQ, BIL against RAVI, data as of Oct 20, 2026. https://etfiq.com/compare/any/bil-vs-ravi

Open data

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