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ETF Comparison

SGOV vs VBIL: Which Is the Better Pick in 2026?

A head-to-head comparison of iShares 0-3 Month Treasury Bond ETF and Vanguard 0-3 Month Treasury Bill ETF covering yield, cost, risk, and income potential.

Data updated August 14, 2026

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricSGOVVBIL
Full nameiShares 0-3 Month Treasury Bond ETFVanguard 0-3 Month Treasury Bill ETF
IssueriSharesVanguard
Last Close$100.56 as of August 14, 2026$75.61 as of August 14, 2026
Distribution yield3.66%3.59%
Distribution Safety Score™ 7382
Expense ratio0.07%0.06%
AUM$99.9B$10.4B
Distribution frequencyMonthlyMonthly
Underlying indexICE 0-3 Month US Treasury Securities Index—
ObjectiveSeeks to track an index of U.S. Treasury obligations maturing in three months or less, investing at least 90% of assets in U.S. Treasury securities.—
Asset classFixed IncomeFixed Income
Inception date05/26/202002/10/2025
Beta-0.0029-0.001
Last dividend$0.3070$0.2260
Ex-dividend date08/03/202608/03/2026

Bottom lineSGOV and VBIL are nearly interchangeable — both offer very similar treasury bills exposure with very similar cost and risk. The clearest tie-breaker is cost: VBIL is cheaper at 0.06% vs 0.07%.

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iShares
ETFs473
Total AUM$4664B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.

See our curated list of related YouTube videos on SGOV.

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Vanguard
ETFs116
Total AUM$4658B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.

See our curated list of related YouTube videos on VBIL.

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

SGOV has outpaced VBIL over the trailing twelve months, posting a 3.87% total return against 3.56%. Measured from Feb 2025 — when the younger fund began trading — SGOV has compounded at 4.02% a year versus 3.78% for VBIL. SGOV has been the steadier holding, though — annualized volatility of 0.2% against 0.4% for VBIL. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD1YSince Feb 2025Volatility Sharpe Sortino Max drawdown
SGOV2.24%3.87%4.02%0.2%-3.86-4.94-0.0%
VBIL1.93%3.56%3.78%0.4%-2.72-2.89-0.3%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 14, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Feb 2025” measures every fund from February 11, 2025 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Quick verdict

SGOV (iShares 0-3 Month Treasury Bond ETF) and VBIL (Vanguard 0-3 Month Treasury Bill ETF) are both monthly-pay dividend ETFs, but they take different approaches.

SGOV offers the higher yield at 3.66% vs 3.59% for VBIL. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

VBIL is cheaper with an expense ratio of 0.06% compared to 0.07%.

SGOV is the larger fund by assets ($99.9B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, SGOV would generate roughly $30.50/month, while VBIL would produce $29.92/month, at current distribution rates. Both pay monthly distributions.

SGOV yield3.66%
VBIL yield3.59%
Monthly diff on $10K$0.58

Cost & efficiency

Over 10 years on $10,000, SGOV would cost approximately $70 in fees vs $60 for VBIL (simplified, not compounded). The $10.00 difference may be offset by yield or performance.

SGOV ER0.07%
VBIL ER0.06%

Strategy & risk

SGOV tracks ICE 0-3 Month US Treasury Securities Index with a bonds approach, while VBIL is an ETF.

SGOV beta-0.0029
VBIL beta-0.001

Fund details

SGOV is managed by iShares (launched 05/26/2020) with $99.9B in assets. VBIL is managed by Vanguard (launched 02/10/2025) with $10.4B in assets.

SGOV AUM$99.9B
VBIL AUM$10.4B
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Frequently asked questions

What is the current distribution yield for SGOV and VBIL?

SGOV currently distributes 3.66% and VBIL 3.59%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is SGOV or VBIL better for dividend income?

It depends on your goals. SGOV currently offers the higher 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 SGOV and VBIL?

SGOV (iShares 0-3 Month Treasury Bond ETF) tracks ICE 0-3 Month US Treasury Securities Index with a bonds approach, while VBIL (Vanguard 0-3 Month Treasury Bill ETF) is an ETF. They are issued by iShares and Vanguard respectively.

Can I hold both SGOV and VBIL?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is SGOV or VBIL safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — VBIL scores 82, SGOV scores 73, so VBIL's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SGOV or VBIL?

SGOV has an expense ratio of 0.07% while VBIL charges 0.06%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in SGOV vs VBIL generate?

At current rates, $10,000 in SGOV would generate roughly $30.50 per month ($366.00 annually). The same in VBIL would produce about $29.92 per month ($359.00 annually).

Which has performed better historically, SGOV or VBIL?

SGOV has outpaced VBIL over the trailing twelve months, posting a 3.87% total return against 3.56%. Measured from Feb 2025 — when the younger fund began trading — SGOV has compounded at 4.02% a year versus 3.78% for VBIL. SGOV has been the steadier holding, though — annualized volatility of 0.2% against 0.4% for VBIL. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SGOV vs VBIL — at a glance

Generated August 15, 2026.

Overview

SGOV and VBIL are both ultra-short Treasury ETFs designed to track U.S. Treasury securities maturing in three months or less. The key difference is fund size and age: SGOV is the established choice with $99.9B in assets and five years of history, while VBIL is Vanguard's newer entrant launched in February 2025 with $10.4B in AUM. Both offer nearly identical monthly distributions tied to short-term Treasury yields, with expense ratios under 0.10%.

How they differ

Both funds target the same maturity bucket—zero to three months—but SGOV tracks the ICE 0-3 Month US Treasury Securities Index while VBIL's underlying index is not specified in the fund documentation. SGOV's $99.9B in assets dwarfs VBIL's $10.4B, which may translate to tighter spreads and more efficient trading for the larger fund. The expense ratio difference is minimal (SGOV 0.07% vs. VBIL 0.06%), and distribution rates are nearly identical (SGOV 3.66% vs. VBIL 3.59%), reflecting the tight yields available in the T-bill market. Both carry minimal negative beta, confirming their defensive character.

Who each is best for

SGOV: Fits investors prioritizing deep liquidity and a longer track record. The $99.9B asset base may appeal to those building core cash-equivalent positions in large accounts.

VBIL: Designed for cost-conscious investors who value the lowest-cost available exposure. Vanguard's recent launch suits those comfortable with newer funds that offer a 1-basis-point expense advantage.

Key risks to know

  • Limited rate-decline potential. Both funds own securities maturing in 90 days or less, so falling rates offer little price appreciation. If Treasury yields drop sharply, NAV gains will be minimal.
  • Rollover and reinvestment sensitivity. Ultra-short Treasury funds are extremely sensitive to where maturing positions are reinvested. A sudden drop in 3-month bill yields could lower monthly distributions quickly.
  • VBIL's short operating history. The fund launched in February 2025, so there is no historical volatility or stress-test data yet. Investors familiar with multi-year fund performance data cannot apply that lens to VBIL.
  • Credit risk is negligible. Both hold only U.S. Treasury obligations, eliminating default risk entirely.

Bottom line

If you want proven liquidity and an established fund with years of performance data, SGOV's $99.9B in assets and May 2020 inception date stand out. If you prioritize the lowest possible expense ratio and accept a newly launched fund, VBIL's 0.06% fee offers a modest cost edge. Both funds deliver nearly identical yields in a market where distribution income will move with Fed policy, not manager skill—past performance of either fund does not predict future distributions.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

Bond fund basics How to read a fund's stats Why total return beats chasing yield T-bills vs. money market funds vs. CDs

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