Vanguard 0-3 Month Treasury Bill ETF (VBIL) is an exchange-traded fund in the Ultrashort Bond category. It has $9.35B in assets, an expense ratio of 0.06% and a 3.64% dividend yield. The index includes U.S. treasury bills that have maturities of 3 months or less. Under normal circumstances, the fund will generally invest all, but at least 80% of its assets, plus the amount of any borrowings for investment purposes, in the bonds that make up the Target Index.