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RAVI vs TBIL: Differences, Returns & Fees

RAVI's duration was 0.5 years on Jul 31, 2026 and TBIL's 0.2 on May 31, 2026; TBIL charges 0.15% to RAVI's 0.25%. Net assets: $1.5bn on Jul 31, 2026 for Northern Trust Ultra-Short Fixed Income ETF, and $7.6bn on Oct 19, 2026 for F/m US Treasury 3 Month Bill Fund.

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Answers cite the figures on this page.

TBIL costs 0.10 points a year less; their one-year returns differ by 0.1 points.

RAVI vs TBIL: Differences, Returns & Fees
RAVITBIL
Expense ratio0.25%0.15%
Net assets, RAVI as of Jul 31, 2026 and TBIL as of Oct 19, 2026$1.5bn$7.6bn
Total return, 1 year+3.8%+3.7%
What it tracksNo index, actively managedBloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index (I00087US)
Holdings in commonreport dates differ

Holdings in common uses holdings dated May 31, 2026 and Jul 31, 2026.

+3.8%
RAVI total return, 1 year
+3.7%
TBIL total return, 1 year
0.25%
RAVI expense ratio
0.15%
TBIL expense ratio

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Client brief · page 1 of 2Report BR-CE6B8E0333

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

  1. What each follows. RAVI follows No index, actively managed and TBIL follows Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index (I00087US).
  2. Number of holdings. RAVI holds 244 positions and TBIL holds 1.
  3. Cost. RAVI charges 0.25% of assets a year and TBIL 0.15%, a gap of 0.10 points.

Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.

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On the same fields

RAVI
Northern Trust Ultra-Short Fixed Income ETF
TBIL
F/m US Treasury 3 Month Bill Fund
Where it sits Bond ETF Bond ETF
Issuer Northern Trust F/m
What it is Actively managed Tracks an index
Total return, 1 year +3.8% +3.7%
Expense ratio 0.25% 0.15%
Holdings 244 1
Net assets, RAVI as of Jul 31, 2026 and TBIL as of Oct 19, 2026 $1.5bn $7.6bn

RAVI and TBIL on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.

About RAVI

RAVI is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned +3.8% with distributions reinvested. The prospectus expense ratio is 0.25% a year.

About TBIL

TBIL tracks an index. Over the year to Oct 20, 2026 it returned +3.7% with distributions reinvested. The prospectus expense ratio is 0.15% a year.

Questions people ask

Which returned more over the last year, RAVI or TBIL?
In the year to Oct 20, 2026, with distributions reinvested, RAVI returned +3.8% and TBIL +3.7%.
Which is cheaper, RAVI or TBIL?
TBIL is cheaper, by 0.10 percentage points a year. That is about $10 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
FLRN vs RAVIBSCQ vs RAVIRAVI vs TBLLCLIP vs RAVITBIL vs YEARTBIL vs VGUSBILZ vs TBILDUSB vs TBIL
RAVI on its own →TBIL on its own →Hold both: look the portfolio through →Rankings →RAVI dividend history →RAVI holdings →TBIL dividend history →TBIL holdings →Standards and sources →
Where these figures came from
RAVI filings on SEC EDGAR ↗RAVI prospectus with the expense ratio (SEC) ↗Northern Trust website ↗TBIL filings on SEC EDGAR ↗TBIL prospectus with the expense ratio (SEC) ↗F/m page for TBIL ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

Cite this pageCitation, APA and Markdown

ETFIQ, RAVI against TBIL, data as of Oct 20, 2026. https://etfiq.com/compare/any/ravi-vs-tbil

Open data

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