SPDR Bloomberg Barclays 3-12 Month T-Bill ETF (BILS) Performance
BILS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +2.8% since Dec 31, 2025
- 1 year
- +3.6% total return
- 5 years
- +3.6% a year
- Since first price
- +2.9% a year since 2020
BILS trailing returns vs AGG, TLT, SPY
| Period | BILS total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +0.4% | +0.1% | +0.9% | +1.5% | −1.0% |
| 3 months | +1.0% | +0.0% | −0.4% | −1.0% | +3.2% |
| 6 months | +1.8% | −0.0% | −1.5% | −3.8% | +7.8% |
| YTD | +2.8% | +0.1% | −1.0% | −3.4% | +12.3% |
| 1 year | +3.6% | −0.1% | −1.1% | −6.9% | +14.4% |
| 3 years | +14.0%+4.5%/yr | −0.0% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +19.3%+3.6%/yr | −0.7% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| Since inceptionSep 24, 2020 | +19.3%+2.9%/yr | −0.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BILS vs AGG
From Sep 24, 2020: BILS grew to $11,927, AGG to $9,777.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BILS returns by calendar year
4 of 5 full years positive. Best 2024 (+5.2%), worst 2021 (−0.1%). 2026 is year to date.
BILS annual returns table
| Year | BILS | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +2.8% | −0.0% | −1.0% | −3.4% | +12.3% |
| 2025 | +4.2% | −0.0% | +7.2% | +4.3% | +17.7% |
| 2024 | +5.2% | −0.0% | +1.3% | −8.1% | +24.9% |
| 2023 | +4.9% | −0.1% | +5.7% | +2.8% | +26.2% |
| 2022 | +0.9% | −0.3% | −13.0% | −31.2% | −18.2% |
| 2021 | −0.1% | −0.1% | −1.8% | −4.6% | +28.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BILS risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +4.5% | +3.5% | +2.9% |
| Volatility (annualized) | 0.3% | 0.6% | 0.6% |
| Sharpe ratio | 0.15 | -0.68 | -0.59 |
| Sortino ratio | 0.22 | -0.80 | -0.70 |
| Best month | +0.5% | +0.5% | +0.5% |
| Worst month | +0.2% | −0.1% | −0.1% |
| Best 12 months | +5.5% | +5.5% | +5.5% |
| Worst 12 months | +3.6% | +0.1% | −0.2% |
| Positive months | 100% | 87% | 75% |
| Beta vs S&P 500 | 0.00 | 0.01 | — |
| Correlation with S&P 500 | 0.19 | 0.22 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BILS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 62 | −0.2% | +4.0% | +5.5% | 81% |
| 3-year (a year) | 38 | +1.4% | +4.1% | +4.8% | 100% |
| 5-year (a year) | 14 | +2.8% | +3.2% | +3.6% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
BILS performance overview
SPDR Bloomberg Barclays 3-12 Month T-Bill ETF (BILS) returned +3.6% over the past year and +3.6% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +2.9% a year, turning $10,000 into about $11,927. Over the same year U.S. bonds (AGG) returned −1.1%.
Related: BILS chart, BILS dividends, BILS bond profile. See the BILS overview for the latest quote and fund facts.
BILS performance FAQ
What is the BILS return over the past year?
BILS returned +3.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 0.1%.
What is the average annual return of BILS?
BILS has returned +3.6% a year over 5 years, +2.9% a year since September 24, 2020 (total return, distributions reinvested).
How much would $10,000 invested in BILS be worth?
$10,000 invested in BILS at its first recorded close on September 24, 2020 would be worth about $11,927 on October 23, 2026 with distributions reinvested.
What was the worst year for BILS?
The worst calendar year was 2021, with a total return of −0.1%. The best was 2024 at +5.2%.
How volatile is BILS?
Over the past 3 years BILS had an annualized volatility of 0.3% and a Sharpe ratio of 0.15 (excess return over 1–3 month T-bills per unit of risk).