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

In the year to Oct 28, 2026, with distributions reinvested, BIL returned +3.7% and USFR +4.1%.

Which is cheaper, BIL or USFR?

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 USFR: Differences, Returns & Fees

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BIL's duration was 0.2 years on Jun 30, 2026 and USFR's 0.0 on May 31, 2026; BIL charges 0.14% to USFR's 0.15%.

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Net assets: $48.7bn on Oct 27, 2026 for SPDR Bloomberg 1-3 Month T-Bill ETF, and $17.0bn on May 31, 2026 for WisdomTree Floating Rate Treasury Fund.

BIL on its own →USFR on its own →

At a glance

+3.7%

BIL total return, 1 year

+4.1%

USFR total return, 1 year

0.14%

BIL expense ratio

0.15%

USFR expense ratio

Pair scorecard

BIL costs 0.01 points a year less; their one-year returns differ by 0.4 points.

BIL vs USFR: Differences, Returns & Fees
Measure	BIL	USFR
Return
Measure	BIL	USFR
Total return, 1 year	+3.7%	+4.1%
Benchmark
Measure	BIL	USFR
What it tracks	Bloomberg 1-3 Month U.S. Treasury Bill Index	Bloomberg U.S. Treasury Floating Rate Bond Index
Cost and size
Measure	BIL	USFR
Expense ratio	0.14%	0.15%
Net assets, BIL as of Oct 27, 2026 and USFR as of May 31, 2026	$48.7bn	$17.0bn
Holdings
Measure	BIL	USFR
Holdings in common	report dates differ

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

Risk and return

Feb 14, 2014 to Oct 23, 2026 · 662 weekly returns

BIL USFR

Return

Total return edge USFR +25.7% +29.1%

Annualized edge USFR +1.8% +2.0%

Price return edge USFR +0.1% +1.1%

Risk

Volatility edge BIL 0.3% 0.9%

Max drawdown edge BIL −0.2% −1.4%

Risk-adjusted

Sharpe edge USFR −0.72 0.01

Sortino edge USFR −0.99 0.01

Calmar edge BIL 7.54 1.49

Reading

USFR returned more: +29.1% to +25.7%. BIL swung less: 0.3% to 0.9%. BIL fell less at its worst: −0.2% to −1.4%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: BIL vs USFR: Differences, Returns & Fees
Measure	BIL	USFR	Edge	How it is measured
Return
Total return	+25.7%	+29.1%	USFR	Price change plus distributions, reinvested.
Annualized	+1.8%	+2.0%	USFR	Total return as a yearly rate.
Price return	+0.1%	+1.1%	USFR	Price change alone, distributions left out.
Risk
Volatility	0.3%	0.9%	BIL	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	0.2%	0.6%	BIL	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−0.2%	−1.4%	BIL	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	−0.72	0.01	USFR	Return above Treasury bills per unit of volatility.
Sortino	−0.99	0.01	USFR	Return above Treasury bills per unit of downside deviation.
Calmar	7.54	1.49	BIL	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 662 weekly returns. Cash rate: the 13-week Treasury bill.

Side by side

BIL SPDR Bloomberg 1-3 Month T-Bill ETF USFR WisdomTree Floating Rate Treasury Fund

Where it sits Bond ETF Bond ETF

Issuer State Street WisdomTree

What it is Tracks an index of 1-3 month T-bills Tracks an index of Floating Rate Treasury

Total return, 1 year +3.7% +4.1%

Its benchmark over the same days not measured +4.0% (TFLO)

Gap to its benchmark not measured +0.1 pts vs TFLO

Expense ratio 0.14% 0.15%

Holdings 26 4

Net assets, BIL as of Oct 27, 2026 and USFR as of May 31, 2026 $48.7bn $17.0bn

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

Client brief · page 1 of 2 Report BR-7DD8C24D40

BIL and USFR 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 USFR follows Bloomberg U.S. Treasury Floating Rate Bond Index.
Number of holdings. BIL holds 26 positions and USFR holds 4.
One-year total return (similar). Over 1 year to Oct 28, 2026 BIL returned +3.7% and USFR +4.1% with distributions reinvested, a gap of 0.4 points.

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.

USFR

USFR tracks an index of Floating Rate Treasury. Over the year to Oct 28, 2026 it returned +4.1% with distributions reinvested, against +4.0% for its benchmark, the Bloomberg U.S. Treasury Floating Rate Bond Index. The prospectus expense ratio is 0.15% a year.

Questions people ask

Which returned more over the last year, BIL or USFR?: In the year to Oct 28, 2026, with distributions reinvested, BIL returned +3.7% and USFR +4.1%.
Which is cheaper, BIL or USFR?: 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 MINT BIL vs BOXX BIL vs SHV BIL vs VBIL USFR vs VBIL FLOT vs USFR USFR vs VUSB ICSH vs USFR

Where to next

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

Sources and dates

BIL filings on SEC EDGAR ↗

BIL prospectus with the expense ratio (SEC) ↗

State Street website ↗

USFR filings on SEC EDGAR ↗

USFR prospectus with the expense ratio (SEC) ↗

WisdomTree page for USFR ↗

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

Cite this pageCitation, APA and Markdown

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

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