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@peter95 I'm not familiar with how Fidelity works with directly buying T-Bills, but I know TreasuryDirect (and various brokers) allow for automatic reinvestment. The reinvested T-Bill will go through auction before the maturity date. So the new T-Bill's issue/settlement date starts the same day...

@emilsabry You can sell T-bills on the secondary market. Usually you'll get something in between the discounted value and the face value, depending how close you are to maturity. In your example, if you sold your 4-week $1000 T-bill early, expect somewhere between $995-$1000. Even interest...

@cynick40 One more thing, the losses from the expense ratio is calculated by multiplying the total value of the assets, not just the gains. In other words, you simply subtract the expense ratio from the base yield. net yield = distribution yield - expense ratio For SGOV using OP's numbers (if...