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Launched · SEC filings

State Street SPDR Bloomberg 3-12 Month T-Bill ETF

BILSNYSE ArcaSPDRA

$99.10−0.33 (−0.33%)

At close: Nov 2, 2026, 4:00 PM ET

A75/ 100

Rank 15 of 78 in Cash & Ultra-Short Income

A75/100Rank 15 of 78inCash & Ultra-Short Income
Intraday session: down, 79 prints from 99.43 to 99.10. Range 99.09 to 99.11. Use the arrow keys to read each point.99.2099.3010 AM12 PM2 PM4 PM
Expense ratio
0.14%
Fund size
$3.97B
1Y total return
+3.6%
Yield · Last 12 months
4.02%
Holdings
30
Avg volume · 30D
337K sh
52W range
low $99.04high $99.49
Launched
Filings
SEC EDGAR

The ETF.net BILS Grade

A

Score 75 out of 100

Category
Cash & Ultra-Short Income⁠
Rank
15 of 78
Six-pillar profile for BILS. Scores out of 100: Cost 76, Risk 41, Mission 100, Tradability 79, Holdings 54, Durability 80. Strongest: Mission (100). Weakest: Risk (41). Leans toward Mission.

Score 75 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A76 out of 100
    Rank 17 of 78

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 67

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C41 out of 100
    Rank 64 of 75

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A79 out of 100
    Rank 10 of 78

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C54 out of 100
    Rank 43 of 77

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A80 out of 100
    Rank 13 of 78

Our read on BILS

ETF.net Research

In short

AMost T-bill ETFs park at the very front of the curve. BILS deliberately steps out to bills with 3 to 12 months left to run, one rung further along the same government ladder, from the SPDR bond shop.

Stated mandate

The fund seeks to track, before fees and expenses, the price and yield performance of the Bloomberg 3-12 Month U.S. Treasury Bill Index, providing exposure to U.S. Treasury Bills with remaining maturities of 3 to 12 months.

Why people hold it

  • Targets the 3-to-12-month rung of the bill curve. Where sibling BIL sits in 1-3 month paper, BILS holds the next maturities out.ssga.com
  • A compact book of roughly 40 Treasury bills, direct obligations of the US government. No corporate paper, no credit tiers to decode.ssga.com
  • Tracks its Bloomberg bill index closely and pays monthly. A multi-billion-dollar fund with steady day-to-day trading behind it.

Worth knowing

  • The 0.14% fee matches the category median but runs above the cheapest bill funds, like XONE at 0.03% and VBIL at 0.06%.
  • Longer maturities move more when rates shift. Small moves by bond standards, but not as flat a line as a 0-3 month bill fund.
  • Income resets as bills mature and roll into new ones, so payouts track wherever short-term Treasury rates sit at the time.ssga.com

BILS Holdings

Holdings pillarC54 out of 100Rank 43 of 77 in Cash & Ultra-Short Income
Asset class
Bonds
Holdings
30
Top-10 weight
53%
Largest holding
Treasury Bill 01/27 0.000007.2%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataTreasury Bill 01/27 0.000007.19%0$291M18
2No dataTreasury Bill 02/27 0.000007.02%0$284M10
3No dataTreasury Bill 03/27 0.000006.99%0$283M12
4No dataTreasury Bill 04/27 0.000004.57%0$185M9
5No dataTreasury Bill 01/27 0.000004.55%0$184M30
6No dataTreasury Bill 01/27 0.000004.54%0$183M32
7No dataTreasury Bill 02/27 0.000004.52%0$183M12
8No dataTreasury Bill 02/27 0.000004.52%0$183M11
9No dataTreasury Bill 02/27 0.000004.38%0$177M12
10No dataTreasury Bill 04/27 0.000004.35%0$176M12
11No dataTreasury Bill 03/27 0.000004.34%0$175M9
12No dataTreasury Bill 03/27 0.000004.33%0$175M13
13No dataTreasury Bill 03/27 0.000004.21%0$170M27
14No dataTreasury Bill 08/27 0.000002.94%0$119M10
15No dataTreasury Bill 07/27 0.000002.93%0$119M6

Showing 1–15 of 30 holdings

BILS Performance

Launched Sep 23, 2020

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.
BILS$10,365
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,146
Oct 31, 2025 to Nov 2, 2026. BILS $10,365. SPY $11,146. Use the arrow keys to read each point.$10,000$11,000Oct 2025May 2026Nov 2026

Oct 31, 2025 – Nov 2, 2026

Returns run to the Nov 2, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BILS. Periods over one year show the average yearly return.
PeriodBILS
Year to date+3.0%
1 month+0.3%
3 months+0.9%
1 year+3.6%
3 yearsper year+4.4%
5 yearsper year+3.6%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BILS
YearReturn barBILS
2026 YTD+3.0%
2025+4.2%
2024+5.2%
2023+4.9%
2022+0.9%
2021−0.1%
20200.0%

History from Sep 24, 2020

BILS in the news

BILS Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 2, 2026.
4.02%Last 12 months
Payout per share
$3.98Last 12 months
Upcoming payment
$0.33 per share
Pays on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2023–2026

One bar per payment. 46 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.42; Mar 1, 2023 $0.34; Apr 3, 2023 $0.39; May 1, 2023 $0.38; Jun 1, 2023 $0.40; Jul 3, 2023 $0.41; Aug 1, 2023 $0.43; Sep 1, 2023 $0.43; Oct 2, 2023 $0.43; Nov 1, 2023 $0.45; Dec 1, 2023 $0.43; Dec 18, 2023 $0.43; Feb 1, 2024 $0.45; Mar 1, 2024 $0.40; Apr 1, 2024 $0.43; May 1, 2024 $0.42; Jun 3, 2024 $0.43; Jul 1, 2024 $0.42; Aug 1, 2024 $0.44; Sep 3, 2024 $0.43; Oct 1, 2024 $0.41; Nov 1, 2024 $0.40; Dec 2, 2024 $0.37; Dec 19, 2024 $0.37; Feb 3, 2025 $0.37; Mar 3, 2025 $0.32; Apr 1, 2025 $0.35; May 1, 2025 $0.34; Jun 2, 2025 $0.35; Jul 1, 2025 $0.33; Aug 1, 2025 $0.35; Sep 2, 2025 $0.35; Oct 1, 2025 $0.33; Nov 3, 2025 $0.33; Dec 1, 2025 $0.31; Dec 18, 2025 $0.34; Feb 2, 2026 $0.30; Mar 2, 2026 $0.27; Apr 1, 2026 $0.29; May 1, 2026 $0.29; Jun 1, 2026 $0.30; Jul 1, 2026 $0.29; Aug 3, 2026 $0.31; Sep 1, 2026 $0.31; Oct 1, 2026 $0.31; Nov 2, 2026 $0.33. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Nov 2, 2026Pays Nov 5, 2026$0.33
Oct 1, 2026Oct 6, 2026$0.31
Sep 1, 2026Sep 4, 2026$0.31
Aug 3, 2026Aug 6, 2026$0.31
Jul 1, 2026Jul 7, 2026$0.29
Jun 1, 2026Jun 4, 2026$0.30
May 1, 2026May 6, 2026$0.29
Apr 1, 2026Apr 6, 2026$0.29
Mar 2, 2026Mar 5, 2026$0.27
Feb 2, 2026Feb 5, 2026$0.30
Dec 18, 2025Dec 23, 2025$0.34
Dec 1, 2025Dec 4, 2025$0.31

See all 54 payments⁠

$10,000 in BILS 5 years ago paid $1,856 in dividends.⁠

BILS Risk

Risk pillarC41 out of 100Rank 64 of 75 in Cash & Ultra-Short Income
How much the fund’s monthly returns vary, scaled to a year.
0.3%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.57
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−0.3%
Trough Jun 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.02
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

BILS Cost

Compare BILS and XHLF

Overpaying vs XHLF, tied cheapest in Cash & Ultra-Short Income

$2,197

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BILS 0.1353%

    $2,835

  • XHLF 0.03% Tied cheapest

    $638

$10,000
30 years

Cost over time

  • BILS 0.1353%
  • XHLF 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K051015202530BILS $2,835XHLF $638

Year by year

YearBILSXHLFOverpaying
10$247$55$192
20$967$216$751
30$2,835$638$2,197

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