ETF Comparison
BIL vs SGOV vs SHY vs USFR: Which Is the Better Pick in 2026?
A side-by-side comparison of SPDR Bloomberg 1-3 Month T-Bill ETF, iShares 0-3 Month Treasury Bond ETF, iShares 1-3 Year Treasury Bond ETF and WisdomTree Floating Rate Treasury Fund covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| BIL | SGOV | SHY | USFR | |
|---|---|---|---|---|
| Full name | SPDR Bloomberg 1-3 Month T-Bill ETF | iShares 0-3 Month Treasury Bond ETF | iShares 1-3 Year Treasury Bond ETF | WisdomTree Floating Rate Treasury Fund |
| Issuer | State Street | BlackRock | iShares | WisdomTree |
| Price | $91.40 | $100.39 | $82.32 | $50.34 |
| Distribution yield | 4.06% | 4.04% | 3.76% | 4.07% |
| Expense ratio | 0.14% | 0.09% | 0.15% | 0.15% |
| AUM | $43.3B | $75.0B | $24.9B | $16.0B |
| Distribution frequency | Monthly | Monthly | — | Monthly |
| Underlying index | Bloomberg 1-3 Month U.S. Treasury Bill Index | ICE 0-3 Month US Treasury Securities Index | — | Bloomberg U.S. Treasury Floating Rate Bond Index |
| Objective | Seeks to provide investment results that correspond to the price and yield performance of the Bloomberg 1-3 Month U.S. Treasury Bill Index. Provides pure short-term Treasury exposure with minimal credit risk. | Treasury Bond | Tracks the ICE U.S. Treasury 1-3 Year Bond Index. | Track the performance of U.S. Treasury floating-rate notes (FRNs). |
| Asset class | Fixed Income | Equity | Fixed Income | Equity |
| Inception date | 05/25/2007 | 05/26/2020 | — | 02/04/2014 |
| Beta | 0.0 | 0.0 | 0.25 | -0.02 |
| Last dividend | $0.26 | $0.29 | $0.25 | $0.15 |
| Ex-dividend date | 04/01/2026 | 04/01/2026 | 04/01/2026 | 03/26/2026 |
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
BIL (SPDR Bloomberg 1-3 Month T-Bill ETF), SGOV (iShares 0-3 Month Treasury Bond ETF), SHY (iShares 1-3 Year Treasury Bond ETF), USFR (WisdomTree Floating Rate Treasury Fund) are popular dividend ETFs that take different approaches.
USFR offers the highest yield at 4.07%, followed by BIL at 4.06%, SGOV at 4.04%, SHY at 3.76%.
SGOV is the cheapest with an expense ratio of 0.09%, compared to 0.14% for BIL and 0.15% for SHY and 0.15% for USFR.
SGOV is the largest fund by assets ($75.0B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment: BIL generates ~$33.83/month, SGOV generates ~$33.67/month, SHY generates ~$31.33/month, USFR generates ~$33.92/month at current distribution rates.
Cost & efficiency
Over 10 years on $10,000: BIL costs ~$140, SGOV costs ~$90, SHY costs ~$150, USFR costs ~$150 in fees (simplified, not compounded).
Strategy & risk
BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index with a seeks to provide investment results that correspond to the price and yield performance of the bloomberg 1-3 month u.s. treasury bill index. provides pure short-term treasury exposure with minimal credit risk. approach; SGOV tracks ICE 0-3 Month US Treasury Securities Index with a treasury bond approach; SHY tracks — with a tracks the ice u.s. treasury 1-3 year bond index. approach; USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index with a track the performance of u.s. treasury floating-rate notes (frns). approach.
Fund details
BIL is managed by State Street (launched 05/25/2007) with $43.3B in assets. SGOV is managed by BlackRock (launched 05/26/2020) with $75.0B in assets. SHY is managed by iShares (launched —) with $24.9B in assets. USFR is managed by WisdomTree (launched 02/04/2014) with $16.0B in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Which of BIL, SGOV, SHY, and USFR is best for dividend income?
It depends on your goals. USFR currently offers the highest distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between BIL, SGOV, SHY, and USFR?
BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) tracks Bloomberg 1-3 Month U.S. Treasury Bill Index with a seeks to provide investment results that correspond to the price and yield performance of the bloomberg 1-3 month u.s. treasury bill index. provides pure short-term treasury exposure with minimal credit risk. strategy, issued by State Street. SGOV (iShares 0-3 Month Treasury Bond ETF) tracks ICE 0-3 Month US Treasury Securities Index with a treasury bond strategy, issued by BlackRock. SHY (iShares 1-3 Year Treasury Bond ETF) tracks — with a tracks the ice u.s. treasury 1-3 year bond index. strategy, issued by iShares. USFR (WisdomTree Floating Rate Treasury Fund) tracks Bloomberg U.S. Treasury Floating Rate Bond Index with a track the performance of u.s. treasury floating-rate notes (frns). strategy, issued by WisdomTree.
Can I hold BIL, SGOV, SHY, and USFR together?
Yes. Many income investors hold multiple dividend ETFs to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.
Which has the lowest fees among BIL, SGOV, SHY, and USFR?
BIL has an expense ratio of 0.14%, SGOV has an expense ratio of 0.09%, SHY has an expense ratio of 0.15%, USFR has an expense ratio of 0.15%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 generate in each?
$10,000 in BIL yields ~$33.83/month ($406.00/year). $10,000 in SGOV yields ~$33.67/month ($404.00/year). $10,000 in SHY yields ~$31.33/month ($376.00/year). $10,000 in USFR yields ~$33.92/month ($407.00/year).
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