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

In the year to Oct 28, 2026, with distributions reinvested, BIL returned +3.7% and SHV +3.6%.

Which is cheaper, BIL or SHV?

BIL is cheaper, by 0.01 percentage points a year. That is about $1 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

BIL vs SHV: Differences, Returns & Fees

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BIL's duration was 0.2 years on Jun 30, 2026 and SHV's 0.3 on Aug 31, 2026; BIL charges 0.14% to SHV's 0.15%.

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Net assets on Oct 27, 2026: $48.7bn for SPDR Bloomberg 1-3 Month T-Bill ETF and $21.7bn for iShares 0-1 Year Treasury Bond ETF.

BIL on its own →SHV on its own →

At a glance

+3.7%

BIL total return, 1 year

+3.6%

SHV total return, 1 year

0.14%

BIL expense ratio

0.15%

SHV expense ratio

Pair scorecard

BIL costs 0.01 points a year less; their one-year returns differ by 0.1 points; BIL is 2.2 times larger.

BIL vs SHV: Differences, Returns & Fees
Measure	BIL	SHV
Return
Measure	BIL	SHV
Total return, 1 year	+3.7%	+3.6%
Benchmark
Measure	BIL	SHV
What it tracks	Bloomberg 1-3 Month U.S. Treasury Bill Index	ICE Short US Treasury Securities Index
Cost and size
Measure	BIL	SHV
Expense ratio	0.14%	0.15%
Net assets, as of Oct 27, 2026	$48.7bn	$21.7bn
Holdings
Measure	BIL	SHV
Holdings in common	report dates differ

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

Risk and return

Jun 8, 2007 to Oct 23, 2026 · 1,011 weekly returns

BIL SHV

Return

Total return edge SHV +30.9% +34.5%

Annualized edge SHV (slight) +1.4% +1.5%

Price return edge SHV −0.1% +0.9%

Risk

Volatility edge SHV (slight) 0.4% 0.3%

Max drawdown edge SHV −0.5% −0.4%

Risk-adjusted

Sharpe edge SHV −0.40 −0.01

Sortino edge SHV −0.57 −0.02

Calmar edge SHV 3.00 3.97

Reading

SHV returned more: +34.5% to +30.9%. SHV swung slightly less: 0.3% to 0.4%. SHV fell less at its worst: −0.4% to −0.5%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: BIL vs SHV: Differences, Returns & Fees
Measure	BIL	SHV	Edge	How it is measured
Return
Total return	+30.9%	+34.5%	SHV	Price change plus distributions, reinvested.
Annualized	+1.4%	+1.5%	SHV (slight)	Total return as a yearly rate.
Price return	−0.1%	+0.9%	SHV	Price change alone, distributions left out.
Risk
Volatility	0.4%	0.3%	SHV (slight)	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	0.3%	0.2%	SHV	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−0.5%	−0.4%	SHV	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	−0.40	−0.01	SHV	Return above Treasury bills per unit of volatility.
Sortino	−0.57	−0.02	SHV	Return above Treasury bills per unit of downside deviation.
Calmar	3.00	3.97	SHV	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,011 weekly returns. Cash rate: the 13-week Treasury bill.

Side by side

BIL SPDR Bloomberg 1-3 Month T-Bill ETF SHV iShares 0-1 Year Treasury Bond 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 0-1 Year Treasury Bond

Total return, 1 year +3.7% +3.6%

Expense ratio 0.14% 0.15%

Holdings 26 66

Net assets, as of Oct 27, 2026 $48.7bn $21.7bn

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

Client brief · page 1 of 2 Report BR-469B62EE1D

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

What each follows. BIL follows Bloomberg 1-3 Month U.S. Treasury Bill Index and SHV follows ICE Short US Treasury Securities Index.
One-year total return (similar). Over 1 year to Oct 28, 2026 BIL returned +3.7% and SHV +3.6% with distributions reinvested, a gap of 0.1 points.
Number of holdings (similar). BIL holds 26 positions and SHV holds 66.

Data as of Oct 28, 2026.

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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.

SHV

SHV tracks an index of 0-1 Year Treasury Bond. Over the year to Oct 28, 2026 it returned +3.6% with distributions reinvested. The prospectus expense ratio is 0.15% a year.

Questions people ask

Which returned more over the last year, BIL or SHV?: In the year to Oct 28, 2026, with distributions reinvested, BIL returned +3.7% and SHV +3.6%.
Which is cheaper, BIL or SHV?: BIL is cheaper, by 0.01 percentage points a year. That is about $1 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

BIL vs SGOV BIL vs IBTH BIL vs RAVI BIL vs PULS SHV vs USFR SHV vs VBIL SHV vs VUSB SHV vs TBIL

Where to next

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

Sources and dates

BIL filings on SEC EDGAR ↗

BIL prospectus with the expense ratio (SEC) ↗

State Street website ↗

SHV filings on SEC EDGAR ↗

SHV prospectus with the expense ratio (SEC) ↗

iShares page for SHV ↗

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

Cite this pageCitation, APA and Markdown

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

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