TBIL Fees and Costs — US Treasury 3 Month Bill ETF
Data updated: 2026-07-28
The net expense ratio is 0.15%. There are no sales loads or redemption fees. Portfolio turnover was 0%.
TBIL Fees and Expenses
Annual operating expenses and sales charges of TBIL. Prospectus, as of February 10, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.15% |
| Fee waiver | — |
| Net expense ratio | 0.15% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
TBIL Costs Over Time
On $10,000 invested in TBIL, assuming 5% a year before costs, total costs come to $95 over 5 years, cutting the return by 0.16% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.15%) | $16 | $50 | $87 |
| Lost growth on money paid in costs | $0 | $2 | $9 |
| Total costs | $16 | $52 | $95 |
| Value after costs | $10,484 | $11,524 | $12,667 |
| Impact on return, per year | 0.16% | 0.16% | 0.16% |
TBIL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $3.4B
- Portfolio turnover (prospectus): 0%
- Securities on loan, average value: $167.2M
- Net income from securities lending: $46K (0.001% of average net assets)
TBIL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JANE STREET EXECUTION SERVICES | $3.4B | 99.07% |
| HARRIS CORP. | $13.7M | 0.40% |
| MERRILL LYNCH INC. | $12.5M | 0.36% |
| CITADEL | $5.5M | 0.16% |
| ICBCFS LLC, NEW YORK | $222K | 0.01% |
| GOLDMAN SACHS & CO | $148K | 0.00% |
US Treasury 3 Month Bill ETF Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TBFMX | C000271378 | 0.15% | — |
| TBIL | US Treasury 3 Month Bill ETF | 0.15% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.