Data as of Oct 28, 2026.
BIL vs TIP: Differences, Returns & Fees
BIL's duration was 0.2 years on Jun 30, 2026 and TIP's 6.3 on Jul 31, 2026; BIL charges 0.14% to TIP's 0.18%.
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Net assets on Oct 27, 2026: $48.7bn for SPDR Bloomberg 1-3 Month T-Bill ETF and $14.6bn for iShares TIPS Bond ETF.
Pair scorecard
BIL costs 0.04 points a year less; their one-year returns differ by 4.7 points; BIL is 3.3 times larger.
| Measure | BIL | TIP |
|---|---|---|
| Return | ||
| Total return, 1 year | +3.7% | −1.0% |
| Benchmark | ||
| What it tracks | Bloomberg 1-3 Month U.S. Treasury Bill Index | ICE U.S. Treasury Inflation Linked Bond Index |
| Cost and size | ||
| Expense ratio | 0.14% | 0.18% |
| Net assets, as of Oct 27, 2026 | $48.7bn | $14.6bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Jun 30, 2026 and Jul 31, 2026. Method
Risk and return
Jun 8, 2007 to Oct 23, 2026 · 1,011 weekly returnsTIP returned more: +90.9% to +30.9%. BIL swung less: 0.4% to 6.1%. BIL fell less at its worst: −0.5% to −14.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | BIL | TIP | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +30.9% | +90.9% | TIP | Price change plus distributions, reinvested. |
| Annualized | +1.4% | +3.4% | TIP | Total return as a yearly rate. |
| Price return | −0.1% | +8.2% | TIP | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 0.4% | 6.1% | BIL | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 0.3% | 4.5% | BIL | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −0.5% | −14.2% | BIL | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | −0.40 | 0.32 | TIP | Return above Treasury bills per unit of volatility. |
| Sortino | −0.57 | 0.45 | TIP | Return above Treasury bills per unit of downside deviation. |
| Calmar | 3.00 | 0.24 | BIL | 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.
What they share
By the books each fund has filed, BIL and TIP 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 TIP on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
BIL and TIP 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 TIP follows ICE U.S. Treasury Inflation Linked Bond Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Jun 30, 2026 and Jul 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 BIL returned +3.7% and TIP −1.0% with distributions reinvested, a gap of 4.7 points.
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.
TIP
TIP tracks an index of TIPS Bond. Over the year to Oct 28, 2026 it returned −1.0% with distributions reinvested, against −0.8% for its benchmark, the ICE U.S. Treasury Inflation Linked Bond Index. The prospectus expense ratio is 0.18% a year.
Questions people ask
- Which returned more over the last year, BIL or TIP?
- In the year to Oct 28, 2026, with distributions reinvested, BIL returned +3.7% and TIP −1.0%.
- Which is cheaper, BIL or TIP?
- BIL is cheaper, by 0.04 percentage points a year. That is about $4 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 TIP, data as of Oct 28, 2026. https://etfiq.com/compare/any/bil-vs-tip
ETFIQ. (Oct 28, 2026). BIL against TIP. Retrieved from https://etfiq.com/compare/any/bil-vs-tip
[BIL against TIP (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/bil-vs-tip)
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