BILS

The SPDR Bloomberg 3-12 Month T-Bill ETF (BILS) is an exchange-traded fund designed to track the performance of short-term U.S. Treasury Bills (T-Bills). The ETF is managed by State Street Global Advisors (SPDR) and trades under the ticker BILS on NYSE Arca.

Classified as a fixed-income ETF providing exposure to short-term U.S. Treasury Bills, BILS seeks to reflect, before fees and expenses, the aggregated performance of the securities included in the Bloomberg 3-12 Month U.S. Treasury Bill Index.

The fund follows a passive management strategy, maintaining a portfolio structured to replicate the composition and weighting of its benchmark index.

The benchmark includes U.S. Treasury securities with maturities between three and twelve months, which are generally viewed as highly liquid and low-credit-risk instruments within global financial markets.

Composition / Exposure profile

BILS provides exposure to the U.S. Treasury Bill market through securities characterized by:

• Maturities between three and twelve months.

• Low sensitivity to interest-rate fluctuations.

• High liquidity within global financial markets.

• Short duration within fixed-income markets.

This structure reflects the characteristics of short-term U.S. sovereign instruments.

Structure and costs

BILS shares trade on the secondary market on NYSE Arca during regular trading hours. Creation and redemption occur through authorized participants, helping maintain alignment between market price and net asset value.

The fund charges a management fee as outlined in its prospectus and does not apply a performance fee. BILS may distribute income generated by the Treasury Bills held in the portfolio.

History and evolution of the ETF

The SPDR Bloomberg 3-12 Month T-Bill ETF was launched in 2020, during a period of rising demand for short-term fixed-income instruments and liquidity-focused strategies within the U.S. market.

Since inception, the fund has reflected movements associated with Federal Reserve monetary policy, short-term interest-rate fluctuations, and changes in global macroeconomic conditions.

In recent years, BILS has reflected monetary tightening and easing cycles, changes in the U.S. yield curve, and fluctuations in short-term Treasury Bill yields.

Additional Information

SPDR Bloomberg 3-12 Month T-Bill ETF (United States) is an exchange-traded fund (ETF), with assets under management totaling $3.91 Billions.

Over the past 12 months, SPDR Bloomberg 3-12 Month T-Bill ETF recorded a return of 3.94%, with its price trading between $99.08 and $99.52 during the same period.

The ETF is traded under the ticker BILS.