Data as of Oct 28, 2026.
BIL vs XBI: Differences, Returns & Fees
Over the year to Oct 28, 2026, BIL returned +3.7% to XBI's +41.2%, and BIL charges 0.14% to XBI's 0.35%.
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Net assets on Oct 27, 2026: $48.7bn for SPDR Bloomberg 1-3 Month T-Bill ETF and $10.3bn for State Street SPDR S&P Biotech ETF.
Pair scorecard
BIL costs 0.21 points a year less; their one-year returns differ by 37.5 points; BIL is 4.7 times larger.
| Measure | BIL | XBI |
|---|---|---|
| Return | ||
| Total return, 1 year | +3.7% | +41.2% |
| Drawdown | ||
| Below its all-time high | 8.9%, high on Feb 8, 2021 | |
| Benchmark | ||
| What it tracks | Bloomberg 1-3 Month U.S. Treasury Bill Index | Biotech |
| Cost and size | ||
| Expense ratio | 0.14% | 0.35% |
| Net assets, as of Oct 27, 2026 | $48.7bn | $10.3bn |
| Active share vs the S&P 500 | 98% | |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 13% | |
| Top ten holdings, share of the fund | 18% | |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Jun 8, 2007 to Oct 23, 2026 · 1,011 weekly returnsXBI returned more: +809.0% to +30.9%. BIL swung less: 0.4% to 29.7%. BIL fell less at its worst: −0.5% to −61.5%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | BIL | XBI | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +30.9% | +809.0% | XBI | Price change plus distributions, reinvested. |
| Annualized | +1.4% | +12.0% | XBI | Total return as a yearly rate. |
| Price return | −0.1% | +759.4% | XBI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 0.4% | 29.7% | BIL | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 0.3% | 20.2% | BIL | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −0.5% | −61.5% | BIL | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | −0.40 | 0.48 | XBI | Return above Treasury bills per unit of volatility. |
| Sortino | −0.57 | 0.70 | XBI | Return above Treasury bills per unit of downside deviation. |
| Calmar | 3.00 | 0.20 | 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 XBI hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
BIL and XBI on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
BIL and XBI 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 XBI follows Biotech.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 BIL returned +3.7% and XBI +41.2% with distributions reinvested, a gap of 37.5 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.
XBI
By weight, 13% of XBI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 18% of the fund across 165 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +41.2% with distributions reinvested. It sits 8.9% below its all-time high of Feb 8, 2021.
Questions people ask
- Are BIL and XBI in the same category?
- BIL is a bond ETF and XBI is a thematic ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, BIL or XBI?
- In the year to Oct 28, 2026, with distributions reinvested, BIL returned +3.7% and XBI +41.2%.
- Which is cheaper, BIL or XBI?
- BIL is cheaper, by 0.21 percentage points a year. That is about $21 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 XBI, data as of Oct 28, 2026. https://etfiq.com/compare/any/bil-vs-xbi
ETFIQ. (Oct 28, 2026). BIL against XBI. Retrieved from https://etfiq.com/compare/any/bil-vs-xbi
[BIL against XBI (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/bil-vs-xbi)
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