SBIL vs XHLF: Grades, Fees and Holdings Compared

Simplify Government Money Market ETF

SBILANYSE Arca

BondBloxx Bloomberg Six Month Target Duration US Treasury ETF

XHLFANYSE Arca

Overlap

No data

Expense ratio

XHLF −0.12pt a year

SBIL0.15%XHLF0.03%

Avg volume · 30D

SBIL 1.4×the volume

SBIL432KXHLF304K

SBIL vs XHLF Performance

Nov 4, 2025 – Nov 4, 2026

+3.7%SBIL+3.6%XHLF

Expense ratio: SBIL 0.15%; XHLF 0.03%, better
Fund size: SBIL $4.11B; XHLF $2.03B
1Y total return: SBIL +3.7%, better; XHLF +3.6%
Yield (12M): SBIL 3.63%; XHLF 3.68%, better
Holdings: SBIL 174; XHLF 29
Avg volume (30D): SBIL 432K sh, better; XHLF 304K sh
NAV per share: SBIL $100.12; XHLF $50.14
52W range

ETF.net Grade

Pillar letters and Scores for SBIL, XHLF, with each pillar’s weight
Pillar	SBIL	XHLF
Cost30% weight	B66	A99Higher
Mission25% weight	A100	A100
Risk15% weight	C49Higher	C44
Tradability15% weight	A81Higher	A78
Holdings10% weight	C49Higher	D32
Durability5% weight	B63Higher	B59

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. SBIL and XHLF 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 ›

XHLF ranks 7th and SBIL 20th of 78 funds in the Cash & Ultra-Short Income Category.

Rank 5ATBLLInvesco Short Term Treasury ETFScore 80
Rank 7AXHLFBondBloxx Bloomberg Six Month Target Duration US Treasury ETFScore 79
Rank 8ABILState Street SPDR Bloomberg 1-3 Month T-Bill ETFScore 78
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

SBILASimplify Government Money Market ETF

XHLFABondBloxx Bloomberg Six Month Target Duration US Treasury ETF

In short

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.

XHLF Most cash-parking funds pick a maturity bucket. XHLF picks a number: it blends Treasury bills to an average duration of about six months, resets to that target monthly, and charges three basis points to do it.

Stated mandate

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

XHLF The Fund seeks to track the investment results of an index composed of U.S. Treasury securities.

Why people hold it

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.

XHLF Costs 0.03% a year, against a typical short-Treasury peer near 0.14%. In cash-like funds, where returns come from bills everyone owns, fee is the main lever.
Tracks an index built to hold an average duration of roughly six months, rebalanced monthly, so exposure stays anchored instead of drifting as bills mature.bondbloxxetf.com
Sits in the gap between 0-3 month bill funds and one-year funds. Its sibling XONE targets a one-year duration at the same 0.03%, so the two can be mixed to dial in duration.
US Treasury bills only, no credit bets hiding in the portfolio, run in a multi-billion-dollar fund that has stayed close to its index.

Worth knowing

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.

XHLF Six months of duration is not zero. Prices move a touch more when yields shift than in 0-3 month bill funds such as BIL or CLIP.
Income rides whatever Treasury bills happen to pay, and distributions arrive on an irregular rhythm rather than a fixed amount or schedule.
Volume is moderate next to the largest bill ETFs, so spreads can be a bit wider, which matters more on big tickets than small ones.

Full SBIL profile⁠

Full XHLF profile⁠

SBIL vs XHLF Holdings

How SBIL and XHLF differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Asset classFixed Income100%
Countryby domicile100%

Sector

No Sector split for SBIL and XHLF.

Country, concentration and asset class

Country by domicile

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

Concentration

Weight in the 10 largest Holdings

SBIL28.9%
XHLF79.3%

Securities held

SBIL169
XHLF29

Asset class

SBIL: Fixed Income
XHLF: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. SBIL holds 169 securities, XHLF 29.

All SBIL holdings⁠All XHLF 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.

SBIL vs XHLF Cost

Overpaying SBIL vs XHLF

$2,499

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

SBIL 0.15%
$3,137
XHLF 0.03%
$638

Amount$10,000

Years30 years

Cost over time

SBIL 0.15%
XHLF 0.03%
Overpaying

Year by year

Year	SBIL	XHLF	Overpaying
10	$274	$55	$219
20	$1,071	$216	$855
30	$3,137	$638	$2,499

Expense ratio

0.15%SBIL
0.03%XHLF, cheaper

XHLF0.03%SBIL0.15%

0.03%1.00%

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

XHLF cheapest of 78 funds

SBIL 23rd cheapest of 78 funds

SBIL vs XHLF Dividends

Last 12 months to Nov 4, 2026

Yield (12M): SBIL 3.63%; XHLF 3.68%, better
Payout (12M): SBIL $3.63; XHLF $1.85
Last payment: SBIL $0.32; XHLF $0.16
Ex-dividend: SBIL Oct 27, 2026; XHLF Nov 2, 2026
Paid on: SBIL Oct 30, 2026; XHLF Pays Nov 5, 2026
Frequency: SBIL Monthly; XHLF Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

SBILMonthly · 15 paymentsAll SBIL payments⁠

XHLFMonthly · 46 paymentsAll XHLF payments⁠

SBIL vs XHLF Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: SBIL 0.1%since Aug 2025XHLF 0.3%
Return per unit of riskSharpe ratio, 3 years: SBIL −1.02since Aug 2025XHLF −0.50
Worst fallMax drawdown, 5 years: SBIL −0.03%since Jul 2025XHLF −0.1%since Sep 2022
Market sensitivityBeta, 5 years: SBIL 0.002XHLF 0.03; Market = 1

Popular comparisons

SBILAvsICSHA
Simplify Government Money Market ETF · iShares Ultra Short Duration Bond Active ETF
Expense ratio
0.15% · 0.08%
Category
XHLFAvsSGOVA
BondBloxx Bloomberg Six Month Target Duration US Treasury ETF · iShares 0-3 Month Treasury Bond ETF
Expense ratio
0.03% · 0.09%
Category
SBILAvsCLIPA
Simplify Government Money Market ETF · Global X 1-3 Month T-Bill ETF
Expense ratio
0.15% · 0.07%
Category
XHLFAvsICSHA
BondBloxx Bloomberg Six Month Target Duration US Treasury ETF · iShares Ultra Short Duration Bond Active ETF
Expense ratio
0.03% · 0.08%
Category
SBILAvsVBILA
Simplify Government Money Market ETF · Vanguard 0-3 Month Treasury Bill ETF
Expense ratio
0.15% · 0.06%
Category
XHLFAvsCLIPA
BondBloxx Bloomberg Six Month Target Duration US Treasury ETF · Global X 1-3 Month T-Bill ETF
Expense ratio
0.03% · 0.07%
Category