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TBIL vs USFR: Differences, Returns & Fees

On May 31, 2026 TBIL's duration was 0.2 years and USFR's 0.0; both charge 0.15%. Net assets: $7.6bn on Oct 19, 2026 for F/m US Treasury 3 Month Bill Fund, and $17.0bn on May 31, 2026 for WisdomTree Floating Rate Treasury Fund.

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Answers cite the figures on this page.

Both cost 0.15% a year; their one-year returns differ by 0.3 points.

Points (pts) are percentage points.

TBIL vs USFR: Differences, Returns & Fees
TBILUSFR
Expense ratio0.15%0.15%
Net assets, TBIL as of Oct 19, 2026 and USFR as of May 31, 2026$7.6bn$17.0bn
Total return, 1 year+3.7%+4.0%
What it tracksBloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index (I00087US)Bloomberg U.S. Treasury Floating Rate Bond Index
Holdings in common0%

Holdings in common uses holdings dated May 31, 2026.

+3.7%
TBIL total return, 1 year
+4.0%
USFR total return, 1 year
0.15%
TBIL expense ratio
0.15%
USFR expense ratio

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Client brief · page 1 of 2Report BR-18489DC9D9

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

  1. What each follows. TBIL follows Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index (I00087US) and USFR follows Bloomberg U.S. Treasury Floating Rate Bond Index.
  2. Holdings in common. 0% of the weight is in the same securities (holdings dated May 31, 2026).
  3. Number of holdings. TBIL holds 1 positions and USFR holds 4.

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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What they hold in common

By the books each fund has filed, TBIL and USFR hold 0% of their money in the same securities at the same weight. Holdings dated May 31, 2026.

half

0% in common

Positions both hold, largest shared weight first
Holding TBIL USFR
Only in TBIL
United States Treasury Bill, due Aug 27, 2026 100.01%
Only in USFR
TF 0 10/31/27, due Oct 31, 2027 27.95%
TF 0 07/31/27, due Jul 31, 2027 27.93%
TF 0 01/31/28, due Jan 31, 2028 27.91%
TF 0 04/30/28, due Apr 30, 2028 15.90%

Check overlap with more funds →

On the same fields

TBIL
F/m US Treasury 3 Month Bill Fund
USFR
WisdomTree Floating Rate Treasury Fund
Where it sits Bond ETF Bond ETF
Issuer F/m WisdomTree
What it is Tracks an index Tracks an index of Floating Rate Treasury
Total return, 1 year +3.7% +4.0%
Its benchmark over the same days not measured +4.0% (TFLO)
Gap to its benchmark not measured +0.1 pts vs TFLO
Expense ratio 0.15% 0.15%
Holdings 1 4
Net assets, TBIL as of Oct 19, 2026 and USFR as of May 31, 2026 $7.6bn $17.0bn

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

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.

About USFR

USFR tracks an index of Floating Rate Treasury. Over the year to Oct 20, 2026 it returned +4.0% with distributions reinvested, against +4.0% for its benchmark, the Bloomberg U.S. Treasury Floating Rate Bond Index.

Questions people ask

Which returned more over the last year, TBIL or USFR?
In the year to Oct 20, 2026, with distributions reinvested, TBIL returned +3.7% and USFR +4.0%.
Which is cheaper, TBIL or USFR?
Neither: TBIL and USFR both charge 0.15% a year. Fees come from each fund's prospectus.
Other comparisons
FLOT vs TBILTBIL vs TFLOBIL vs TBILIBDS vs TBILGBIL vs USFRTFLO vs USFRFTSM vs USFRICSH vs USFR
TBIL on its own →USFR on its own →Hold both: look the portfolio through →Rankings →TBIL dividend history →TBIL holdings →USFR dividend history →USFR holdings →Standards and sources →
Where these figures came from
TBIL filings on SEC EDGAR ↗TBIL prospectus with the expense ratio (SEC) ↗F/m page for TBIL ↗USFR filings on SEC EDGAR ↗USFR prospectus with the expense ratio (SEC) ↗WisdomTree page for USFR ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. 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, TBIL against USFR, data as of Oct 20, 2026. https://etfiq.com/compare/any/tbil-vs-usfr

Open data

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