BILL vs ISEC: Which ETF Is Better?
A side-by-side comparison of fees, size, returns and holdings, using data to 30 September 2026.
ISEC comes out ahead on 5 of 8 measures. Which matters most depends on you.
The short answer
Worth about $3,556 on $100,000 over 20 years.
Bigger funds usually trade more cheaply and are less likely to close.
BILL vs ISEC side by side
| BILL leads on 3, ISEC on 5 | BILLiShares Core Cash ETF | ISECiShares Enhanced Cash ETF |
|---|---|---|
| The basics | ||
| Index tracked | S&P/ASX Bank Bill Index | See the PDS |
| Fund manager | iShares | iShares |
| Asset class | Cash | Cash |
| Listed | Jun 2017 | Jun 2017 |
| Cost and size | ||
| MERyearly fee, lower is better | 0.07%✓ | 0.12% |
| AUMfund size | $1.3bn✓ | $745m |
| Net flows (Sep)new money in, last month | $54m✓ | $2.6m |
| Bid/ask spreadtrading cost, lower is better | 0.02% | 0.02% |
| Total returns | ||
| 1 month | +0.4% | +0.4% |
| 1 year | +4.0% | +4.1%✓ |
| 3 years p.a. | +4.0% | +4.2%✓ |
| 5 years p.a. | +3.1% | +3.2%✓ |
| $10,000 invested | ||
| 1 year ago | $10,404 | $10,412✓ |
| 5 years ago | $11,676 | $11,726✓ |
✓ marks the better figure on each measure. Returns include distributions, to 30 September 2026.
BILL vs ISEC price chart
Both ETFs on one chart as % change. Use the 1D to All buttons to change the period. Price only, so it leaves out distributions · TradingView
What $10,000 invested is worth now
$10,000 put into BILL 5 years ago is worth $11,676 today, against $11,726 in ISEC. That is $50 more in ISEC.
Total returns to 30 September 2026, with distributions reinvested, before tax and brokerage. The price chart above leaves out distributions, so it can look worse. Past performance is not a reliable indicator of future performance.
What the fees cost you
BILL's lower fee leaves about $3,556 more in your pocket over 20 years.
Total fees paid on a $100,000 investment, assuming a 7% a year return before fees. Illustration only: it ignores tax, brokerage and differences in returns.
BILL and ISEC overlap
1 companies appear in both funds. Overlap is the share of the portfolio that is the same in both, counting the smaller weight of each shared company.
| Biggest shared holdings | % of BILL | % of ISEC |
|---|---|---|
| 100.00% | 100.00% |
Add more ETFs and see the overlap in Compare ETFs →
Best-endeavours estimate. Built from each issuer's published holdings, which may be weeks or months old, may cover only part of a fund (some publish only their top 10) and are matched by company name. Figures may be incomplete or inaccurate. Check the issuer's website and PDS before relying on them. General information only.
Get the full BILL vs ISEC report
- Every holding of each ETF: the top 50 companies, with sectors and countries
- Exactly which companies they share, and how much of each
- Fees in dollars over 10, 20 and 30 years
- Every metric side by side, including the index each tracks
- ★ FREE BONUSIs now a good time to invest? The Market Health-O-Meter
FAQs
Which is better, BILL or ISEC?
It depends on what you need. On our numbers BILL wins on 3 measures and ISEC on 5. BILL is cheaper, with a management fee of 0.07% vs 0.12%. On $100,000 over 20 years that difference is worth about $3,556. BILL is the larger fund at $1.3bn vs $745m. ISEC has the better 1-year return: +4.1% vs +4.0%.
Which is cheaper, BILL or ISEC?
BILL charges 0.07% a year and ISEC charges 0.12% a year.
Can I hold both BILL and ISEC?
You can, but check how much they overlap. BILL is a cash fund and ISEC is a cash fund.
More comparisons
General information only, not a recommendation. Past performance is not a reliable indicator of future performance.