The Laddered T-Bill ETF
$25.020.00 (0.00%)
- 0.20%
- $11M
- 0.1M sh
- $25.02
- low $24.74high $25.10
The ETF.net TLDR Grade
C
Score 54 out of 100
- 55 of 78
Score 54 of 100 falls in the C 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.C42 out of 100Rank 39 of 78Mission
Whether the fund did what it promised, tested against its stated mandate.A97 out of 100Rank 59 of 66Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C49 out of 100Rank 42 of 75Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C40 out of 100Rank 51 of 78Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D28 out of 100Rank 73 of 77Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D31 out of 100Rank 63 of 78
Our read on TLDR
CMost T-bill ETFs just track a 0-3 month index. TLDR runs an actively managed ladder of bills maturing inside six months, targeting a 60-day average maturity, with a manager choosing where on the front end to sit.
The Fund seeks current income while preserving capital and maintaining daily liquidity.
Why people hold it
- An active ladder, not an index sleeve: REX rolls the bill positions continuously around a targeted 60-day average maturity, tuned to the front end of the Treasury curve.rexshares.com
- Under normal conditions at least 80% of net assets sit in US Treasury bills maturing in six months or less, the shortest end of government paper.sec.gov
- Distributions land monthly, and the mandate stays plain: current income, capital preservation, daily liquidity.
Worth knowing
- The 0.20% fee sits above the index bill funds next to it (XONE 0.03%, VBIL 0.06%, BIL 0.14%). The active laddering is what the extra buys.
- A small, thinly traded fund so far, so spreads can run wider than the category's giants.
- Launched in 2026, so there is little history behind the manager's ladder calls, and the prospectus flags high portfolio turnover as a cost and tax factor.rexshares.com
TLDR Holdings
- Stocks
- 4
- 100%
- Treasury Bill
Geography
- United States100.00%
TLDR Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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TLDR$10,084
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 | TLDR |
|---|---|
| Year to date | — |
| 1 month | +0.3% |
| 3 months | +0.8% |
| 1 year | — |
| 3 years | — |
| 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 | TLDR |
|---|---|---|
| 2026 YTD | +2.5% |
TLDR in the news
TLDR Dividends
- $0.02 per share
- Weekly
Distribution data unavailable.
Distribution history
TLDR Risk
- —
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.
- —
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.
- —
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.
- 0.01
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TLDR Cost
0.20%
TLDR0.20%
- The middle half of Cash & Ultra-Short Income funds
- Median 0.19%
41 of the 78 Cash & Ultra-Short Income funds charge less.
Other funds in Cash & Ultra-Short Income
- BFLDBFidelity Low Duration Bond ETFExpense ratio 0.20%1 year return +3.6%
- BMMKTTexas Capital Government Money Market ETFExpense ratio 0.20%1 year return +3.5%
- CVUSIVoya Ultra Short Income ETFExpense ratio 0.25%1 year return —
- CUYLDAngel Oak Ultrashort Income ETFExpense ratio 0.56%1 year return +4.0%
- CEMNTPIMCO Enhanced Short Maturity Active ESG Exchange-Traded FundExpense ratio 0.36%1 year return +3.8%