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

State Street SPDR Bloomberg 3-12 Month T-Bill ETF (BILS)

Updated October 16, 2026.

BILS is a low-cost ETF. its distribution rate is 3.75%, its trailing-12-month yield is 3.68%, its expense ratio is 0.1354%. Dividend Vision Distribution Safety Score™ is 79/100 (Generally safe). Total return is 19.2% over the past 6.1 years, 136.6 points behind SPY at 155.8%.

This ETF tracks U.S. Treasury bills with remaining maturities between three and twelve months, using a sampling strategy to replicate the index performance. It offers a moderate current distribution rate paid monthly, with a low expense ratio of 0.14%. The fund appeals to income-focused investors seeking short-duration fixed income exposure with minimal credit risk.

BILS performance versus SPY

Price and return data through 2026-10-16.

Total return is 19.2% over the past 6.1 years, 136.6 points behind SPY at 155.8%. Over the past year its total return — price change plus distributions reinvested — is 3.6%.

BILS key facts

Distribution Safety Score™

79 · Generally safe

Safety-Adjusted Yield

2.96%

Issuer

State Street

Asset type

ETF

Asset class

Fixed Income

Inception date

09/24/2020

Expense ratio

0.1354%

Distribution rate

3.75%

Distribution frequency

Monthly

Trailing yield

3.68%

Last close

$99.24 (as of 2026-10-16)

AUM

$3,904,155,892

Average volume

662376.0

Dividend

$0.31014

Ex-dividend date

10/01/2026

Payment date

10/06/2026

Beta

0.02

How Dividend Vision calculates yield and returns

Distribution rate (3.75%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (3.68%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: State Street; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

BILS risks and drawbacks

BILS's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Total return has trailed SPY over the available window.

Who may consider BILS — and who may not

BILS may suit someone looking for low-cost broad dividend exposure, moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on BILS

• All tickers starting with B

Tagged: T bills, Bonds, Ultra Short, Treasury.

Frequently asked questions

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