SGOV vs BIL: Picking the Best T-Bill ETF for Idle Cash
Both SGOV and BIL park your money in ultra-short US Treasury bills. SGOV is cheaper and larger. BIL has more history. The choice is easy for most investors.
SGOV (iShares 0-3 Month Treasury Bond ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are functionally equivalent cash management tools — both hold ultra-short US Treasury bills backed by the US government. SGOV holds T-bills with 0-3 month maturities at 0.09%; BIL holds 1-3 month T-bills at 0.1356%. That 4.56 basis point fee difference matters when you're earning money market returns. SGOV has grown to a larger fund ($38B+ vs BIL's $35B) since launching in 2020. Both distribute monthly income and will track the federal funds rate closely. For parking cash with maximum government safety and minimal fee drag, SGOV is the preferred choice for new investors.
Whether the lower-cost fund suits your situation depends on your existing holdings, account type, tax situation, and how you use each fund. This is a cost comparison, not a personalized recommendation.
📋 SGOV vs BIL — Key Facts Side by Side
| Metric | SGOV | BIL |
|---|---|---|
| Fund Name | iShares 0-3 Month Treasury Bond ETF | State Street SPDR Bloomberg 1-3 Month T-Bill ETF |
| Issuer | iShares | State Street |
| Tracks Index | ICE 0-3 Month US Treasury | Bloomberg 1-3 Month US Treasury Bill |
| Expense Ratio | 0.09% ✓ | 0.14% |
| Cost per $10K/yr | $9.00 | $13.56 |
| AUM | $95.9B | $47.1B |
| Holdings | 7 | 14 |
| Inception | 2020 | 2007 |
| 1-Year Return | -0.01% | -0.08% |
| 3-Year Return | +4.67% | +4.59% |
| 5-Year Return | +3.61% | +3.48% |
| Dividend Yield | 3.85% | 3.85% |
| Holdings Overlap | See holdings overlap → | |
| Avg Bid-Ask Spread | 0.01% | 0.01% |
Expense ratio, AUM, and returns updated Jul 14, 2026 from ETF BFF database. Returns are annualised. Not investment advice.
📊 SGOV vs BIL — Annualised Returns
Annualised returns (trailing, price-based). Past performance does not guarantee future results.
🎯 Which Fund Fits Which Investor?
- want the lowest fees: saves ~$5/yr per $10K vs BIL
- already use iShares and prefer staying within one fund family
- want broader diversification (14 holdings vs 7)
- already use State Street and prefer staying within one fund family
💰 What the Fee Difference Actually Costs
Adjust the numbers for your situation. This models each fund's expense ratio compounding against your balance over time.
Assumes a constant annual return reinvested, with each fund's expense ratio deducted yearly. Illustrative only; actual returns vary. Past performance does not guarantee future results.
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Side-by-side holdings overlap, sector breakdown, and live performance tabs, all in one place.
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❓ SGOV vs BIL — Frequently Asked Questions
New to ETF investing? See answers to the most common ETF questions →