Skip to content
etf.net

TBLL

GradeANew York Stock Exchange Arca

Invesco Short Term Treasury ETF

Treasury & Government Bond · Invesco · Inception 2017-01-12 · SEC filings

$105.48+0.01 (+0.00%)

As of Sep 23, 2026, 3:10 PM EDT

Intraday session: up, 56 prints from 105.47 to 105.48. Range 105.48 to 105.49. Use the arrow keys to read each point.$105.48$105.4910 AM12 PM2 PM4 PM
Expense ratio
0.08%
Fund size
$2.6B
1Y return
+3.6%
Yield · Last 12 months
3.61%
Holdings
92
Volume · 30D
0.3M sh
NAV per share
$105.46
52W range
low $105.46high $105.90

The ETF.net TBLL Grade

A

79/ 100

Rank 5 of 78 in Cash & Ultra-Short Income⁠

Confidence High

Six-pillar profile for TBLL. Scores out of 100: Cost 89, Risk 40, Mission 100, Tradability 78, Holdings 66, Durability 80. Strongest: Mission (100). Weakest: Risk (40). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 79 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 89
    Category rank10/78 · top 13%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 100
    Category rank40/64 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 40
    Category rank64/75 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 78
    Category rank12/78 · top 15%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 66
    Category rank29/77 · top 38%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 80
    Category rank14/78 · top 18%

Graded as of Sep 22, 2026

Our read on TBLL

ETF.net Research

AThe bill fund that stretches to a full year. TBLL owns U.S. Treasuries maturing in one year or less and charges 0.08%, well under the typical fund in its 0-1 year Treasury group.

Stated mandate

The fund invests primarily in U.S. Treasury obligations with maturities of one year or less and seeks exposure to the ICE U.S. Treasury Short Bond Index.

Why people hold it

  1. 01Charges 0.08% a year against a 0.14% median for its 0-1 year Treasury cohort, and undercuts BIL, the 1-3 month bill fund at 0.14%.
  2. 02Fishes the entire under-one-year curve, about 90 Treasury positions, instead of camping in 1-3 month paper like much of the peer shelf.
  3. 03Live since 2017 and a multi-billion-dollar fund, with index tracking among the tighter implementations in its 17-fund group.
  4. 04Distributions land monthly, and the portfolio is Treasury obligations only, so no corporate credit rides along.

Worth knowing

  1. 01Not the cheapest seat in the row: XONE runs 0.03% and VBIL 0.06%, so the cost gap is a few basis points.
  2. 02Reaching out to one-year maturities carries slightly more interest-rate sensitivity than a strict 1-3 month bill portfolio.
  3. 03Moderately traded rather than the volume leader of its category, so spreads deserve a look on larger orders.

TBLL Holdings

As of Sep 20, 2026, 1:42 PM
Asset class
Bonds
Holdings
92
Top-10 weight
24%
Largest holding
United States Treasury Bill 11/05/20262.9%

Sectors

  • Financials100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 7.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—United States Treasury Bill 11/05/20262.91%76,640,900$76M16
002—United States Treasury Bill 11/12/20262.85%75,131,900$75M13
003—United States Treasury Bill 10/29/20262.53%66,452,500$66M35
004—United States Treasury Bill 11/17/20262.33%61,350,600$61M9
005—United States Treasury Bill 10/06/20262.32%60,939,500$61M12
006—United States Treasury Bill 10/20/20262.20%57,642,700$57M17
007—United States Treasury Bill 11/27/20262.18%57,422,800$57M25
008—United States Treasury Bill 10/15/20262.16%56,589,500$56M53
009—United States Treasury Bill 10/22/20262.15%56,589,500$56M15
010—United States Treasury Bill 11/03/20262.11%55,516,600$55M13
011—United States Treasury Bill 11/10/20262.11%55,516,600$55M14
012—United States Treasury Bill 10/27/20262.11%55,379,900$55M16
013—United States Treasury Bill 11/24/20262.11%55,516,600$55M14
014—United States Treasury Bill 12/31/20262.10%55,516,600$55M9
015—United States Treasury Bill 12/17/20262.10%55,379,900$55M9

Showing 1–15 of 93 holdings

TBLL Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

TBLL$10,359
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. TBLL $10,359. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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.

Trailing total return for TBLL. Periods over one year show the average yearly return.
PeriodTBLL
Year to date+2.5%
1 month+0.2%
3 months+0.9%
1 year+3.6%
3 years+4.5%per year
5 years+3.6%per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for TBLL
YearReturn barTBLL
2026 YTD+2.5%
2025+4.2%
2024+5.1%
2023+5.0%
2022+1.1%
2021−0.0%
2020+0.6%

TBLL in the news

ETF.net Research hasn’t filed on TBLL yet — coverage lands here as it’s written.

TBLL Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
3.61%Last 12 months
Payout per share
$3.80Last 12 months
Upcoming payment
$0.32 per share
Pays on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2023–2026

One bar per payment. 45 payments from 2023 to 2026 YTD. Jan 23, 2023 $0.32; Feb 21, 2023 $0.32; Mar 20, 2023 $0.37; Apr 24, 2023 $0.37; May 22, 2023 $0.40; Jun 20, 2023 $0.39; Jul 24, 2023 $0.43; Aug 21, 2023 $0.44; Sep 18, 2023 $0.43; Oct 23, 2023 $0.45; Nov 20, 2023 $0.47; Dec 18, 2023 $0.49; Jan 22, 2024 $0.45; Feb 20, 2024 $0.46; Mar 18, 2024 $0.44; Apr 22, 2024 $0.43; May 20, 2024 $0.44; Jun 24, 2024 $0.44; Jul 22, 2024 $0.46; Aug 19, 2024 $0.47; Sep 23, 2024 $0.44; Oct 21, 2024 $0.43; Nov 18, 2024 $0.42; Dec 23, 2024 $0.37; Jan 21, 2025 $0.39; Feb 24, 2025 $0.37; Mar 24, 2025 $0.36; Apr 21, 2025 $0.35; May 19, 2025 $0.33; Jun 23, 2025 $0.37; Jul 21, 2025 $0.38; Aug 18, 2025 $0.35; Sep 22, 2025 $0.35; Oct 20, 2025 $0.35; Nov 24, 2025 $0.33; Dec 22, 2025 $0.35; Jan 20, 2026 $0.33; Feb 23, 2026 $0.32; Mar 23, 2026 $0.30; Apr 20, 2026 $0.27; May 18, 2026 $0.32; Jun 22, 2026 $0.32; Jul 20, 2026 $0.31; Aug 24, 2026 $0.30; Sep 21, 2026 $0.32. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Sep 21, 2026Pays Sep 25, 2026$0.32
Aug 24, 2026Aug 28, 2026$0.30
Jul 20, 2026Jul 24, 2026$0.31
Jun 22, 2026Jun 26, 2026$0.32
May 18, 2026May 22, 2026$0.32
Apr 20, 2026Apr 24, 2026$0.27
Mar 23, 2026Mar 27, 2026$0.30
Feb 23, 2026Feb 27, 2026$0.32
Jan 20, 2026Jan 23, 2026$0.33
Dec 22, 2025Dec 26, 2025$0.35
Nov 24, 2025Nov 28, 2025$0.33
Oct 20, 2025Oct 24, 2025$0.35

TBLL Risk

How much the fund’s monthly returns vary, scaled to a year.
0.3%
Annualised · 36 months to Aug 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
−0.70
vs 3-month T-bills · to Aug 2026
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.

The largest fall from a peak to the low that followed.
−0.4%
Trough Sep 2023
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.

How strongly the fund’s returns move with its asset-class index.
0.01
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

TBLL Cost

Expense ratio0.08%
  • The middle half of Cash & Ultra-Short Income funds
  • Median 0.19%

9 of the 77 Cash & Ultra-Short Income funds charge less.

TBLL costs $8.00 a year on $10,000. The median Cash & Ultra-Short Income fund costs $19.00.