F/m US Treasury 3 Month Bill Fund
$49.920.00 (0.00%)
- 0.15%
- $7.5B
- +3.7%
- 3.64%
- 1.9M sh
- $49.91
- low $49.82high $50.02
The ETF.net TBIL Grade
A
Score 73 out of 100
- 18 of 78
Score 73 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B68 out of 100Rank 21 of 78Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 66Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C47 out of 100Rank 46 of 75Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A92 out of 100Rank 2 of 78Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D37 out of 100Rank 64 of 77Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A74 out of 100Rank 21 of 78
Our read on TBIL
AOne bond, one job: TBIL owns the newest 3-month Treasury bill and rolls into the next at each month's rebalance, so you hold the current 3-month rate, not a blend. Pays monthly. Flagship of the first single-security Treasury suite.
The Fund seeks investment results, before fees and expenses, that generally correspond to the price and yield performance of the Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index. It normally invests at least 80% of net assets in the index components.
Why people hold it
- Holds one security: the most recently auctioned 3-month bill, refreshed at each month's rebalance, with that on-the-run bill written in as the fallback if the index lags an auction.fminvest.com
- Pays monthly, a faster cadence than the semi-annual coupons on the Treasury notes further out the curve.fminvest.com
- A multi-billion-dollar fund that trades actively, so getting in and out is rarely the hard part. Running since 2022 as the flagship of F/m's single-security Treasury lineup.fminvest.com
Worth knowing
- At 0.15% it costs a bit more than the typical bill ETF and several times the cheapest options, with VBIL at 0.06% and XONE at 0.03%.
- One bond means no ladder to smooth things: at each roll the whole portfolio resets to the latest auction rate, up or down.fminvest.com
- An ETF, not a money market fund. The share price floats with the market instead of being managed to a stable $1.
TBIL Holdings
- Bonds
- 4
- 100%
- United States Treasury Bill 12/24/2026
TBIL Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
TBIL$10,370
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | TBIL |
|---|---|
| Year to date | +2.8% |
| 1 month | +0.3% |
| 3 months | +0.9% |
| 1 year | +3.7% |
| 3 years | +4.4% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | TBIL |
|---|---|---|
| 2026 YTD | +2.8% | |
| 2025 | +4.2% | |
| 2024 | +5.1% | |
| 2023 | +5.1% | |
| 2022 | +1.3% |
TBIL in the news
TBIL Dividends
- 3.64%
- $1.81
- $0.16 per share
- Monthly
Distribution history
TBIL Risk
- 0.2%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.98
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −0.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −0.0004
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TBIL Cost
0.15%
TBIL0.15%
- The middle half of Cash & Ultra-Short Income funds
- Median 0.19%
20 of the 78 Cash & Ultra-Short Income funds charge less.
Other funds in Cash & Ultra-Short Income
- AJPSTJPMorgan Ultra-Short Income ETFExpense ratio 0.18%1 year return +3.5%
- ASBILSimplify Government Money Market ETFExpense ratio 0.15%1 year return +3.7%
- AFLUDFranklin Ultra Short Bond ETFExpense ratio 0.15%1 year return +3.5%
- ASPTUState Street SPDR Portfolio Ultra Short T-Bill ETFExpense ratio 0.05%1 year return +3.7%
- BTBUXT. Rowe Price Ultra Short-Term Bond ETFExpense ratio 0.17%1 year return +4.0%