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

In the year to Oct 28, 2026, with distributions reinvested, BIL returned +3.7% and VTEB −0.4%.

Which is cheaper, BIL or VTEB?

VTEB 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.

Data as of Oct 28, 2026.

Across categories

BIL vs VTEB: Differences, Returns & Fees

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BIL's duration was 0.2 years on Jun 30, 2026 and VTEB's 7.1 on Jul 31, 2026; VTEB charges 0.03% to BIL's 0.14%.

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Net assets: $48.7bn on Oct 27, 2026 for SPDR Bloomberg 1-3 Month T-Bill ETF, and $49.6bn on Sep 30, 2026 for Vanguard Tax-Exempt Bond ETF.

BIL on its own →VTEB on its own →

At a glance

+3.7%

BIL total return, 1 year

−0.4%

VTEB total return, 1 year

0.14%

BIL expense ratio

0.03%

VTEB expense ratio

Pair scorecard

VTEB costs 0.11 points a year less; their one-year returns differ by 4.1 points.

BIL vs VTEB: Differences, Returns & Fees
Measure	BIL	VTEB
Return
Measure	BIL	VTEB
Total return, 1 year	+3.7%	−0.4%
Benchmark
Measure	BIL	VTEB
What it tracks	Bloomberg 1-3 Month U.S. Treasury Bill Index	S&P National AMT-Free Municipal Bond Index
Cost and size
Measure	BIL	VTEB
Expense ratio	0.14%	0.03%
Net assets, as of Sep 30, 2026	$49.8bn	$49.6bn
Holdings
Measure	BIL	VTEB
Holdings in common	0%

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

Risk and return

Sep 4, 2015 to Oct 23, 2026 · 581 weekly returns

BIL VTEB

Return

Total return edge Tie +25.9% +26.3%

Annualized edge Tie +2.1% +2.1%

Price return edge BIL +0.3% −2.9%

Risk

Volatility edge BIL 0.3% 6.7%

Max drawdown edge BIL −0.2% −14.8%

Risk-adjusted

Sharpe edge VTEB −0.76 0.00

Sortino edge VTEB −1.02 0.01

Calmar edge BIL 10.59 0.14

Reading

BIL and VTEB returned about the same: +25.9% and +26.3%. BIL swung less: 0.3% to 6.7%. BIL fell less at its worst: −0.2% to −14.8%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: BIL vs VTEB: Differences, Returns & Fees
Measure	BIL	VTEB	Edge	How it is measured
Return
Total return	+25.9%	+26.3%	Tie	Price change plus distributions, reinvested.
Annualized	+2.1%	+2.1%	Tie	Total return as a yearly rate.
Price return	+0.3%	−2.9%	BIL	Price change alone, distributions left out.
Risk
Volatility	0.3%	6.7%	BIL	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	0.2%	4.6%	BIL	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−0.2%	−14.8%	BIL	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	−0.76	0.00	VTEB	Return above Treasury bills per unit of volatility.
Sortino	−1.02	0.01	VTEB	Return above Treasury bills per unit of downside deviation.
Calmar	10.59	0.14	BIL	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 581 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, BIL and VTEB hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first BIL VTEB

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 VTEB

NEW YORK CITY-F-1-REF, due Aug 1, 2034 0.12%

CA REGENTS UNIV-CD, due May 15, 2036 0.11%

IDAHO ST-TANS, due Jun 30, 2027 0.10%

CA REF, due Aug 1, 2032 0.10%

MARYLAND ST-GROUP 2, due Jun 1, 2038 0.09%

NY ST THRUWAY AUTH-A, due Sep 15, 2035 0.09%

TRIBOROUGH BRIDGE-A-1, due Feb 1, 2028 0.09%

DALLAS ISD-B, due Feb 15, 2056 0.08%

Check overlap with more funds →

Side by side

BIL SPDR Bloomberg 1-3 Month T-Bill ETF VTEB Vanguard Tax-Exempt Bond ETF

Where it sits Bond ETF Bond ETF

Issuer State Street Vanguard

What it is Tracks an index of 1-3 month T-bills Tracks an index of Tax-Exempt Bond

Total return, 1 year +3.7% −0.4%

Expense ratio 0.14% 0.03%

Holdings 26 11155

Net assets, BIL as of Oct 27, 2026 and VTEB as of Sep 30, 2026 $48.7bn $49.6bn

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

Client brief · page 1 of 2 Report BR-006B3A4654

BIL and VTEB 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 VTEB follows S&P National AMT-Free Municipal 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 VTEB −0.4% with distributions reinvested, a gap of 4.1 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.

VTEB

VTEB tracks an index of Tax-Exempt Bond. Over the year to Oct 28, 2026 it returned −0.4% with distributions reinvested. The prospectus expense ratio is 0.03% a year.

Questions people ask

Which returned more over the last year, BIL or VTEB?: In the year to Oct 28, 2026, with distributions reinvested, BIL returned +3.7% and VTEB −0.4%.
Which is cheaper, BIL or VTEB?: VTEB 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 MUB BIL vs HYMB BIL vs IUSB BIL vs VCIT SHV vs VTEB PULS vs VTEB USFR vs VTEB MINT vs VTEB

Where to next

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

Sources and dates

BIL filings on SEC EDGAR ↗

BIL prospectus with the expense ratio (SEC) ↗

State Street website ↗

VTEB filings on SEC EDGAR ↗

VTEB prospectus with the expense ratio (SEC) ↗

Vanguard page for VTEB ↗

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 VTEB, data as of Oct 28, 2026. https://etfiq.com/compare/any/bil-vs-vteb

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