BILS vs SCHD
State Street SPDR Bloomberg 3-12 Month T-Bill ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | BILS | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.14% | 0.06% | |
| AUM | $3.9B | $103.7B | |
| Dividend Yield | 3.80% | 3.31% | |
| Holdings | 25 | 104 | |
| YTD Return | +1.75% | +25.33% | |
| 1Y Return | +3.44% | +32.31% | |
| 3Y Return (annualized) | +4.45% | +15.40% | |
| 5Y Return (annualized) | +3.38% | +9.70% | |
| Volatility (annualized) | 0.7% | 13.6% | |
| Max Drawdown | -0.4% | -33.4% | |
| Fund Family | State Street Investment Management | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | Sep 24, 2020 | Oct 20, 2011 |
BILS vs SCHD Performance
State Street SPDR Bloomberg 3-12 Month T-Bill ETF (BILS) is a ETF from State Street Investment Management and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year BILS returned +3.44% while SCHD returned +32.31%. Year to date, BILS is up 1.75% versus a gain of 25.33% for SCHD.
Over three years, BILS compounded at +4.45% per year against +15.40% for SCHD; over five years the annualized figures are +3.38% and +9.70% respectively. Across the full 6-year window we track, SCHD has the edge at +11.45% annualized vs +2.86%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 0.7% for BILS. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -0.4% for BILS and -33.4% for SCHD. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.03. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BILS charges 0.14% per year while SCHD charges 0.06%. On a $10,000 position that is $14 vs $6 annually, a gap of $8 per year that compounds over a long holding period. On income, BILS currently yields 3.80% against 3.31% for SCHD.
Holdings Overlap
BILS and SCHD share 0 holdings out of 102 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BILS or SCHD?
BILS has an expense ratio of 0.14% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $8 per year of difference.
Which performed better, BILS or SCHD?
Over the past year BILS returned +3.44% vs +32.31% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (6 years), BILS annualized +2.86% vs +11.45% for SCHD. Past performance does not guarantee future results.
Which is riskier, BILS or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 0.7% for BILS. Worst drawdown: BILS -0.4% vs SCHD -33.4%.
Should I hold both BILS and SCHD?
BILS and SCHD have a monthly-return correlation of -0.03, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BILS and SCHD?
BILS and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 102 unique securities.
Which pays a higher dividend, BILS or SCHD?
BILS yields 3.80% while SCHD yields 3.31%, so BILS currently pays the higher dividend yield.
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