A head-to-head comparison of WisdomTree Floating Rate Treasury Fund and Vanguard 0-3 Month Treasury Bill ETF covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
WisdomTree is known for offering diversified, thematically-focused ETFs that emphasize dividend income and factor-based strategies across multiple asset classes. The firm manages 28 funds spanning equities, fixed income, commodities, digital assets, and alternatives, with a particular strength in dividend and income-oriented products like its popular DGS (Emerging Markets High Dividend) and DGRW (Emerging Markets Quality Dividend Growth) funds. WisdomTree's lineup is characterized by its broad thematic approach, including exposure to megatrends and digital assets, alongside traditional dividend and factor-based equity strategies designed to appeal to income-focused investors.
See our curated list of related YouTube videos on USFR.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Vanguard is known for offering low-cost, passively managed ETFs that emphasize broad market exposure and long-term investing. The company operates 175 ETFs across diverse fund families including Index, Bond, Equity, Dividend, Income, International, Factor, and ESG strategies, serving investors with various goals from core portfolio building to specialized income generation. Notable for its scale and popular tickers like VB (total U.S. small-cap), BND (total bond market), and VBIAX (international bonds), Vanguard focuses on providing comprehensive, index-based investment solutions with an emphasis on cost efficiency and accessibility.
See our curated list of related YouTube videos on VBIL.
Track the performance of U.S. Treasury floating-rate notes (FRNs).
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Asset class
Fixed Income
Fixed Income
Inception date
02/04/2014
02/10/2025
Beta
-0.02
-0.001
Last dividend
$0.1599
$0.2260
Ex-dividend date
07/28/2026
08/03/2026
Bottom lineUSFR and VBIL are nearly interchangeable — both offer very similar floating rate treasury exposure with very similar cost and risk. The clearest tie-breaker is cost: VBIL is cheaper at 0.06% vs 0.15%.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
USFR has outpaced VBIL over the trailing twelve months, posting a 3.99% total return against 3.53%. Measured from Feb 2025 — when the younger fund began trading — USFR has compounded at 4.08% a year versus 3.76% for VBIL. USFR has been the steadier holding, though — annualized volatility of 0.3% against 0.4% for VBIL. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 5, 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
USFR (WisdomTree Floating Rate Treasury Fund) and VBIL (Vanguard 0-3 Month Treasury Bill ETF) are both monthly-pay dividend ETFs, but they take different approaches.
USFR offers the higher yield at 3.81% 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 0.15%.
USFR is the larger fund by assets ($18.4B), which generally means tighter spreads and better liquidity.
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On a $10,000 investment, USFR would generate roughly $31.75/month, while VBIL would produce $29.92/month, at current distribution rates. Both pay monthly distributions.
USFR yield3.81%
VBIL yield3.59%
Monthly diff on $10K$1.83
Cost & efficiency
Over 10 years on $10,000, USFR would cost approximately $150 in fees vs $60 for VBIL (simplified, not compounded). The $90.00 difference may be offset by yield or performance.
USFR ER0.15%
VBIL ER0.06%
Strategy & risk
USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index with a bonds approach, while VBIL is an ETF.
USFR beta-0.02
VBIL beta-0.001
Fund details
USFR is managed by WisdomTree (launched 02/04/2014) with $18.4B in assets. VBIL is managed by Vanguard (launched 02/10/2025) with $10.1B in assets.
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Frequently asked questions
What is the current distribution yield for USFR and VBIL?
USFR currently distributes 3.81% 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 USFR or VBIL better for dividend income?
It depends on your goals. USFR 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 USFR and VBIL?
USFR (WisdomTree Floating Rate Treasury Fund) tracks Bloomberg U.S. Treasury Floating Rate Bond Index with a bonds approach, while VBIL (Vanguard 0-3 Month Treasury Bill ETF) is an ETF. They are issued by WisdomTree and Vanguard respectively.
Can I hold both USFR 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.
Which has lower fees, USFR or VBIL?
USFR has an expense ratio of 0.15% 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 USFR vs VBIL generate?
At current rates, $10,000 in USFR would generate roughly $31.75 per month ($381.00 annually). The same in VBIL would produce about $29.92 per month ($359.00 annually).
Which has performed better historically, USFR or VBIL?
USFR has outpaced VBIL over the trailing twelve months, posting a 3.99% total return against 3.53%. Measured from Feb 2025 — when the younger fund began trading — USFR has compounded at 4.08% a year versus 3.76% for VBIL. USFR has been the steadier holding, though — annualized volatility of 0.3% against 0.4% for VBIL. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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