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Launched · SEC filings

The Laddered T-Bill ETF

TLDRCboeRexsharesB

$25.020.00 (+0.01%)

As of Nov 2, 2026, 2:26 PM ET

B53/ 100

Rank 59 of 78 in Cash & Ultra-Short Income

B53/100Rank 59 of 78inCash & Ultra-Short Income
Intraday session: up, 54 prints from 25.02 to 25.02. Range 25.01 to 25.02. Use the arrow keys to read each point.25.0225.0225.0210 AM12 PM2 PM4 PM
Expense ratio
0.20%
Fund size
$7M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
55.2K sh
52W range
low $24.74high $25.10
Launched
Filings
SEC EDGAR

The ETF.net TLDR Grade

B

Score 53 out of 100

Category
Cash & Ultra-Short Income⁠
Rank
59 of 78
Six-pillar profile for TLDR. Scores out of 100: Cost 38, Risk 49, Mission 97, Tradability 43, Holdings 28, Durability 30. Strongest: Mission (97). Weakest: Holdings (28). Leans toward Mission.

Score 53 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. The letter stays B for now. A new letter must hold for 3 published runs before it replaces it.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D38 out of 100
    Rank 42 of 78

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A97 out of 100
    Rank 60 of 67

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C49 out of 100
    Rank 41 of 75

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C43 out of 100
    Rank 47 of 78

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D28 out of 100
    Rank 72 of 77

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D30 out of 100
    Rank 66 of 78

Our read on TLDR

ETF.net Research

In short

BMost 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.

Stated mandate

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

Holdings pillarD28 out of 100Rank 72 of 77 in Cash & Ultra-Short Income
Asset class
Stocks
Holdings
3
Top-10 weight
100%
Largest holding
Treasury Bill51.5%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataTreasury Bill51.52%3,482,600$3.48M20
2No dataTreasury Bill46.30%3,127,200$3.13M20
3No dataFirst American Government Obli First Am Gov Oblig X2.19%147,600$148K477

Showing 1–3 of 3 holdings

TLDR Performance

Launched Jan 21, 2026

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.Not enough history yet.Not enough history yet.Not enough history yet.
TLDR$10,092
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. TLDR $10,092. SPY $10,141. Use the arrow keys to read each point.$10,000$10,200$10,400Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – Oct 30, 2026

Returns run to the Oct 30, 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 TLDR. Periods over one year show the average yearly return.
PeriodTLDR
Year to dateFund launched this yearNo data
1 month+0.3%
3 months+0.9%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 TLDR
YearReturn barTLDR
2026 YTD+2.8%

Since listing, Jan 21, 2026

TLDR in the news

TLDR Dividends

Last payment
$0.02 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Weekly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 39 payments in 2026 YTD. Feb 3, 2026 $0.02; Feb 10, 2026 $0.02; Feb 18, 2026 $0.02; Feb 24, 2026 $0.02; Mar 3, 2026 $0.02; Mar 10, 2026 $0.02; Mar 17, 2026 $0.02; Mar 24, 2026 $0.02; Mar 31, 2026 $0.02; Apr 7, 2026 $0.02; Apr 14, 2026 $0.02; Apr 21, 2026 $0.02; Apr 28, 2026 $0.02; May 5, 2026 $0.02; May 12, 2026 $0.02; May 19, 2026 $0.02; May 27, 2026 $0.02; Jun 2, 2026 $0.02; Jun 9, 2026 $0.02; Jun 16, 2026 $0.02; Jun 23, 2026 $0.02; Jun 30, 2026 $0.02; Jul 7, 2026 $0.02; Jul 14, 2026 $0.02; Jul 21, 2026 $0.02; Jul 28, 2026 $0.02; Aug 4, 2026 $0.02; Aug 11, 2026 $0.02; Aug 18, 2026 $0.02; Aug 25, 2026 $0.02; Sep 1, 2026 $0.02; Sep 9, 2026 $0.02; Sep 15, 2026 $0.02; Sep 22, 2026 $0.02; Sep 29, 2026 $0.02; Oct 6, 2026 $0.02; Oct 14, 2026 $0.02; Oct 20, 2026 $0.02; Oct 27, 2026 $0.02. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Oct 27, 2026Oct 28, 2026$0.02
Oct 20, 2026Oct 21, 2026$0.02
Oct 14, 2026Oct 15, 2026$0.02
Oct 6, 2026Oct 7, 2026$0.02
Sep 29, 2026Sep 30, 2026$0.02
Sep 22, 2026Sep 23, 2026$0.02
Sep 15, 2026Sep 16, 2026$0.02
Sep 9, 2026Sep 10, 2026$0.02
Sep 1, 2026Sep 2, 2026$0.02
Aug 25, 2026Aug 26, 2026$0.02
Aug 18, 2026Aug 19, 2026$0.02
Aug 11, 2026Aug 12, 2026$0.02

See all 39 payments⁠

TLDR Risk

Risk pillarC49 out of 100Rank 41 of 75 in Cash & Ultra-Short Income
How much the fund’s monthly returns vary, scaled to a year.
Launched Jan 2026; fills in after 12 months
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.
Launched Jan 2026; fills in after 12 months
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.
Launched Jan 2026; fills in after 12 months
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.

FMP measures it over up to five years of monthly returns.

TLDR Cost

Compare TLDR and XHLF

Overpaying vs XHLF, tied cheapest in Cash & Ultra-Short Income

$3,517

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • TLDR 0.20%

    $4,155

  • XHLF 0.03% Tied cheapest

    $638

$10,000
30 years

Cost over time

  • TLDR 0.20%
  • XHLF 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K$5K051015202530TLDR $4,155XHLF $638

Year by year

YearTLDRXHLFOverpaying
10$365$55$310
20$1,421$216$1,205
30$4,155$638$3,517

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