State Street SPDR Bloomberg 1-3 Month T-Bill ETF

Frequently Asked Questions About BIL

What does BIL invest in?

The State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) is designed to closely mirror the price appreciation and income generation of the Bloomberg 1-3 Month U.S. Treasury Bill Index, prior to accounting for its operational costs. This fund primarily invests in government-issued U.S. Treasury Bills that have a remaining term of just one to three months. Due to this ultra-short maturity profile, the ETF exhibits lower sensitivity to shifts in interest rates compared to debt instruments with longer durations. Its holdings are adjusted and rebalanced on the last trading day of each month.

What is the expense ratio of BIL?

State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) charges an expense ratio of 0.14%. This is the annual fee deducted from fund assets to cover management and operations.

What is BIL's dividend yield?

BIL's trailing-twelve-month yield is 3.72%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of BIL?

Effective duration measures BIL's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. BIL's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of BIL?

BIL's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of BIL?

Yield to maturity (YTM) is the total return you'd earn from BIL if every bond in the portfolio is held to maturity at the current price. BIL's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.