Best Places For Cash In Uncertain Times: SGOV, T-Bills, BIL, VBIL Or Money Market Funds (VUSXX)?

Summary

The video compares short-term cash options amid market volatility and rising medium- and long-term Treasury yields: individual Treasury bills, ultrashort Treasury ETFs, and Treasury money market funds. The presenters say these options generally have similar risk profiles and returns, making convenience, costs, access, and the possibility of needing to sell before maturity key considerations.

Options and Figures Discussed

Data are stated to be current as of October 8, 2026.

SGOV — iShares 0–3 Month Treasury Bond ETF

• Launched on May 26, 2020, with about $114.4 billion in assets and a 0.09% expense ratio.
• Holds mostly T-bills; its reported weighted average maturity is 0.12 years, or a little over a month.
• Historical total returns cited:
  • 0.04% in 2021
  • 5.27% in 2024
  • 2.8% year to date in 2026
• Its 30-day SEC yield was 3.71%, and its 12-month trailing yield was 3.65%.
• Distributions in 2026 totaled $2.682 per share through October. Extrapolating that pace would imply roughly $3.22 for the year, but this is not a forecast.
• A one-month T-bill was yielding about 4.14%, roughly 43 basis points above SGOV’s 30-day SEC yield at the time. The video attributes part of the gap to SGOV’s expenses and part to the recent rise in T-bill yields. SGOV’s portfolio may take time to reflect changing rates.
• The ETF’s share price can fluctuate. The presenters say its short maturities have historically kept price movements small, but investors who sell may receive more or less than they paid.

BIL — SPDR Bloomberg 1–3 Month T-Bill ETF

• Launched in May 2007, with about $50.8 billion in assets.
• Expense ratio: 0.135%.

VBIL — Vanguard 0–3 Month Treasury Bill ETF

• Launched in February 2025, with about $13.2 billion in assets.
• Expense ratio: 0.06%.
• Its shorter track record and smaller asset base may matter to investors trading larger volumes.

The presenters say SGOV, BIL, and VBIL have very similar portfolios, yields, and trailing returns, generally differing by only a few basis points.

VUSXX — Vanguard Treasury Money Market Fund

• At the end of September, 98.16% of its portfolio was in Treasuries; its weighted average maturity was 28 days.
• Expense ratio: 0.07%, compared with SGOV’s 0.09%.
• It targets a stable $1 share price and can be redeemed through Vanguard once daily at the end of the trading day.
• The presenters note that it cannot be purchased at Fidelity or Schwab.

Other Treasury Money Market Funds

The video describes the following funds as relatively expensive in this comparison:

• SNSXX — Schwab U.S. Treasury Money Fund: 0.34% expense ratio.
• FZFXX — Fidelity Treasury Money Market Fund: 0.42% expense ratio.
• A T. Rowe Price Treasury money fund, identified in the subtitles as “PRTX”: 0.32% expense ratio.

Comparing SGOV with Individual T-Bills: The “Three C’s”

• Clarity: Buying T-bills directly gives investors direct control and visibility over what they own. SGOV has a narrow mandate, and the presenters say its holdings are also straightforward.
• Control: SGOV automatically reinvests principal and pays monthly distributions. Direct T-bill investors can use an auto-roll feature or let bills mature and receive the face-value payment rather than sell at a market price.
• Cost: SGOV charges 0.09% annually. The presenters say many major brokerages and TreasuryDirect allow online T-bill purchases, sales, and holdings without fees, though brokerage features and costs vary.

Practical Trade-Offs and Views

• The presenters generally prefer buying individual bonds and holding them to maturity. They specifically favor auto-rolling T-bills at Fidelity, citing its auto-roll feature.
• T-bills can be purchased in minimums of $1,000 at most major brokerages and $100 at TreasuryDirect.
• SGOV’s expense is described as $9 per $10,000 invested or $90 per $100,000 annually.
• T-bills can be bought at auction and held to maturity. ETFs such as SGOV must be bought on the secondary market during trading hours.
• SGOV trades on NYSE Arca and averaged more than 20 million shares in daily trading volume. T-bills trade over the counter on the secondary market, where pricing and liquidity can be less transparent. The presenters say differences are typically small for short-term bills.
• The video notes that 95.14% of SGOV’s 2025 dividends were exempt from state and local taxes, compared with 100% of interest from directly owned Treasuries, as described by the presenters.
• The presenters say they use VUSXX where auto-roll is unavailable, naming Vanguard and E*TRADE, because it is similar to SGOV but has a slightly lower expense ratio.
• Their overall view is that SGOV, direct T-bills, and VUSXX can all be reasonable short-term cash choices. The decision depends on convenience, fees, broker availability, and liquidity needs.

Cautions and Disclosures

• SGOV’s 30-day SEC yield reflects recent performance and does not guarantee future returns. Treasury and fund yields can change as interest rates move.
• An ETF’s market price can fluctuate. A money market fund’s $1 share price is a target and is not the same structure as a T-bill held to maturity.
• The presenters say everyone’s financial situation differs. No explicit “not financial advice” disclaimer appears in the subtitles.
• The video also promotes the presenters’ VIP investment club and references a previously discussed annuity offer. These are promotional mentions rather than part of the cash-investment comparison.

Presenters and Sources

The presenters are Jennifer Lammer and Markus (also rendered “Marcus” in the subtitles) Lammer of Diamond NestEgg. The video cites fund and yield data as of October 8, 2026.