CLIP vs SBIL: Grades, Fees and Holdings Compared

Global X 1-3 Month T-Bill ETF

CLIPANYSE Arca

Simplify Government Money Market ETF

SBILANYSE Arca

Overlap

0.0%by weight

Expense ratio

CLIP −0.08pt a year

CLIP0.07%SBIL0.15%

Avg volume · 30D

SBIL 1.5×the volume

CLIP291KSBIL432K

CLIP vs SBIL Performance

Nov 4, 2025 – Nov 4, 2026

+3.8%CLIP+3.7%SBIL

Expense ratio: CLIP 0.07%, better; SBIL 0.15%
Fund size: CLIP $2.35B; SBIL $4.11B
1Y total return: CLIP +3.8%, better; SBIL +3.7%
Yield (12M): CLIP 3.73%, better; SBIL 3.63%
Holdings: CLIP 28; SBIL 174
Avg volume (30D): CLIP 291K sh; SBIL 432K sh, better
NAV per share: CLIP $100.08; SBIL $100.12
52W range

ETF.net Grade

Pillar letters and Scores for CLIP, SBIL, with each pillar’s weight
Pillar	CLIP	SBIL
Cost30% weight	A89Higher	B66
Mission25% weight	A100	A100
Risk15% weight	C47	C49Higher
Tradability15% weight	A79	A81Higher
Holdings10% weight	Not scored	C49
Durability5% weight	B68Higher	B63

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. CLIP and SBIL are both graded against the same 78 Cash & Ultra-Short Income funds, so their Grades compare head to head.

Cash & Ultra-Short Income⁠

Category · 78 funds

See all 78 ›

CLIP ranks 2nd and SBIL 20th of 78 funds in the Cash & Ultra-Short Income Category.

Rank 1AICSHiShares Ultra Short Duration Bond Active ETFScore 84
Rank 2ACLIPGlobal X 1-3 Month T-Bill ETFScore 82
Rank 3AVBILVanguard 0-3 Month Treasury Bill ETFScore 81
Rank 20AGSSTGoldman Sachs Ultra Short Bond ETFScore 72
Rank 20ASBILSimplify Government Money Market ETFScore 72
Rank 20ATBILF/m US Treasury 3 Month Bill FundScore 72

Our read on each fund

ETF.net Research

CLIPAGlobal X 1-3 Month T-Bill ETF

SBILASimplify Government Money Market ETF

In short

CLIP Treasury bills, one to three months out, at half the fee of the category's longtime giant. Global X launched CLIP in 2023 as the cheap challenger in the parking-lot corner of the bond market, and it has hugged its index tightly since.

SBIL Money market discipline in an ETF wrapper: government cash instruments, current income, stability of principal, all for 0.15% a year with monthly payouts.

Stated mandate

CLIP CLIP seeks to track, before fees and expenses, the price and yield performance of the Solactive 1-3 month US T-Bill Index. It invests in U.S. government Treasury bills with remaining maturities from one month to under three months.

SBIL The fund seeks current income while maintaining liquidity and stability of principal.

Why people hold it

CLIP 0.07% a year, half the 0.14% median for its bill-fund cohort and half what category veteran BIL charges for the same one-to-three-month exposure.
The mandate fits on one line: US Treasury bills maturing in one month to under three, roughly two dozen of them. Government paper only, no corporate credit slipped in.globalxetfs.com
Sticks to the Solactive 1-3 month US T-Bill Index about as tightly as anything in its peer group, which is the entire job description for a bill fund.
Distributes monthly, and it has already gathered billions in assets, so it is no thin-ice launch.

SBIL Costs 0.15% a year against a 0.20% median for cash-alternative ETFs. On parked cash, the fee is the part you actually control.
Government paper only, exactly as the mandate reads: current income with liquidity and stability of principal. No drift into corporate credit.
One of the strongest implementations in a 22-fund cash-alternative group, and it has already crossed the billion-dollar mark.
Distributions land monthly, and it changes hands on an exchange through the trading day rather than at a fund cutoff time.

Worth knowing

CLIP Income comes straight off short-term Treasury rates. Monthly payouts move up and down with those rates rather than sitting at a fixed level.
It opened in 2023, so the track record is short next to the bill funds it undercuts on fee.
Volume is respectable, not the deepest in the cohort, and a hair cheaper exists (Vanguard's VBIL at 0.06%). At these fee levels the gap is rounding error.

SBIL Launched July 2025, so the history behind any risk read is short.
ICSH runs 0.08%, so cheaper cash parking exists if the fee line is your only filter.
Government issues only means it skips the corporate paper broader ultra-short funds like JPST can hold: steadier ingredients, different income mix.

Full CLIP profile⁠

Full SBIL profile⁠

CLIP vs SBIL Holdings

How CLIP and SBIL differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of CLIP and 0.0% of SBIL.

Level by level

Asset classCash, Fixed Income0.0%
Holdings0 in both0.0%
Countryby domicile100%

Sector

No Sector split for SBIL.

Country, concentration and asset class

Country by domicile

Country weights in CLIP and SBIL, widest gap first
Country	More in CLIPMore in SBIL	Gap	CLIP	SBIL
United States		Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

CLIP55.8%
SBIL28.9%

Securities held

CLIP27
SBIL169

Asset class

CLIP: Cash
SBIL: Fixed Income

Holdings

Only in CLIP27
In both0
Only in SBIL169

Only in CLIP

27 securities, 100% of CLIP by weight

B 12/17/26 (BWRXMP4)7.45%
B 12/03/26 (BW61LR4)7.07%
B 12/24/26 (BSSBJ36)6.41%
B 12/01/26 (BRJJ0F1)6.17%
B 01/07/27 (BTCLH46)5.72%
B 12/31/26 (BNVVYP5)5.09%
B 12/10/26 (BXM7C47)4.97%
B 01/21/27 (BV2FL73)4.85%
B 11/10/26 (BXM1HG6)4.06%
B 12/08/26 (BX7WM14)4.01%
B 11/12/26 (BT9R101)3.99%
B 11/05/26 (BNZJKH9)3.96%
B 12/29/26 (BV8CZK9)3.87%
B 11/19/26 (BVSVZ28)3.83%
B 11/17/26 (BRCDQ07)3.55%
B 11/24/26 (C04JZH3)3.35%
B 11/27/26 (BVPJDQ5)3.31%
B 12/22/26 (BVSPGV6)3.24%
B 12/15/26 (BV88875)3.09%
B 01/26/27 (C0FRT41)2.96%
B 01/28/27 (BXW2BR8)2.96%
B 02/04/27 (BXL2GW9)2.53%
B 01/14/27 (BTMT4S3)2.24%
B 01/19/27 (C0C06G4)2.11%
B 01/05/27 (BQZCL87)1.06%
B 02/02/27 (C0JZ264)1.06%
B 02/09/27 (C05DTR2)1.05%

Only in SBIL

169 securities, 86.4% of SBIL by weight

FHLMC Float 09/22/27 Corp2.96%
US Tsy FRN 07/31/27 Govt2.47%
US Tsy FRN 10/31/27 Govt1.73%
US Tsy FRN 04/30/27 Govt1.55%
FHLBDN 01/22/27 Corp1.47%
FHLBDN 12/24/26 Corp1.34%
FHLBDN 11/12/26 Corp1.25%
FHLBDN 12/09/26 Corp1.24%
US Tsy FRN 01/31/27 Govt1.23%
T 4 1/4 12/31/26 Govt1.23%
FHLBDN 11/09/26 Corp1.23%
FHLBDN 11/10/26 Corp1.23%
FHLBDN 11/17/26 Corp1.23%
B 11/19/26 Govt1.23%
FHLBDN 12/18/26 Corp1.23%
FFCBDN 12/23/26 Corp1.23%
B 1/7/27 Govt1.22%
B 1/14/27 Govt1.22%
FHLBDN 01/21/27 Corp1.22%
FAMCDN 01/26/27 Corp1.22%
B 2/9/27 Govt1.22%
B 2/23/27 Govt1.22%
B 3/2/27 Govt1.22%
FHLBDN 01/15/27 Corp1.17%
FHLBDN 11/06/26 Corp1.08%
FREDN 11/30/26 Corp0.98%
FHLBDN 12/10/26 Corp0.98%
B 12/22/26 Govt0.98%
FHLBDN 01/06/27 Corp0.98%
FAMCA 4.6 12/15/26 Corp0.97%
FAMCA 2 02/25/27 Corp0.97%
B 12/1/26 Govt0.86%
FAMCA Float 09/03/27 Corp0.74%
FAMCA Float 05/03/27 Corp0.74%
FAMCA 4.2025 01/19/27 Corp0.74%
FNMDN 11/13/26 Corp0.74%
FNMDN 11/16/26 Corp0.74%
FHLBDN 11/18/26 Corp0.74%
FHLBDN 11/23/26 Corp0.74%
FAMCDN 11/24/26 Corp0.74%
FNMDN 11/27/26 Corp0.74%
FHLBDN 12/14/26 Corp0.74%
FHLBDN 12/17/26 Corp0.74%
T 2 1/4 02/15/27 Govt0.74%
FHLBDN 12/30/26 Corp0.74%
FHLBDN 01/08/27 Corp0.73%
FHLBDN 02/16/27 Corp0.73%
FHLBDN 02/18/27 Corp0.73%
FHLBDN 02/19/27 Corp0.73%
FHLBDN 11/20/26 Corp0.72%

Weight gaps

CLIP and SBIL share no securities.

All 27 CLIP holdings⁠All SBIL holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CLIP vs SBIL Cost

Overpaying SBIL vs CLIP

$1,657

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

CLIP 0.07%
$1,480
SBIL 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

CLIP 0.07%
SBIL 0.15%
Overpaying

Year by year

Year	CLIP	SBIL	Overpaying
10	$128	$274	$146
20	$503	$1,071	$568
30	$1,480	$3,137	$1,657

Expense ratio

0.07%CLIP, cheaper
0.15%SBIL

CLIP0.07%SBIL0.15%

0.03%1.00%

Middle half of Cash & Ultra-Short Income funds
Median 0.18%

CLIP 8th cheapest of 78 funds

SBIL 23rd cheapest of 78 funds

CLIP vs SBIL Dividends

Last 12 months to Nov 4, 2026

Yield (12M): CLIP 3.73%, better; SBIL 3.63%
Payout (12M): CLIP $3.73; SBIL $3.63
Last payment: CLIP $0.33; SBIL $0.32
Ex-dividend: CLIP Nov 2, 2026; SBIL Oct 27, 2026
Paid on: CLIP Pays Nov 5, 2026; SBIL Oct 30, 2026
Frequency: CLIP Monthly; SBIL Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

CLIPMonthly · 41 paymentsAll CLIP payments⁠

SBILMonthly · 15 paymentsAll SBIL payments⁠

CLIP vs SBIL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CLIP 0.2%SBIL 0.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years: CLIP −0.51SBIL −1.02since Aug 2025
Worst fallMax drawdown, 5 years: CLIP −0.1%since Jun 2023SBIL −0.03%since Jul 2025
Market sensitivityBeta, 5 years: CLIP 0.01SBIL 0.002; Market = 1

CLIP and SBIL in the news

All news⁠

Best ETFs
T-bill ETFs: Vanguard’s VBIL undercuts SGOV, BIL and CLIP at 0.06%
Updated Nov 2, 2026CLIP

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