US Treasury 2 Year Note ETF
$47.49+0.02 (+0.03%)
- 0.15%
- $505M
- +1.3%
- 3.65%
- 0.1M sh
- $47.48
- low $47.27high $48.70
The ETF.net UTWO Grade
B
Score 61 out of 100
- 8 of 15
Score 61 of 100 falls in the B 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.C43 out of 100Rank 8 of 15Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 14Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C49 out of 100Rank 9 of 15Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B66 out of 100Rank 4 of 15Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D38 out of 100Rank 14 of 15Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B56 out of 100Rank 8 of 15
Our read on UTWO
BMost short Treasury funds hand you a 1-3 year blend. UTWO aims at a single spot on the curve, the 2-year note segment, and pays monthly. A precision tool from F/m, on the market since 2022.
The fund is designed to provide exposure to the U.S. Treasury 2-year note segment. It may invest up to 20% of assets outside its underlying index when the adviser believes those investments will improve tracking.
Why people hold it
- Targets one point on the yield curve, the 2-year note segment, instead of a 1-3 year mixture. Your duration lands where you pointed it.
- Hews closely to its stated Treasury mandate, with very little drift between what the prospectus promises and what the fund actually holds.
- Distributions arrive monthly, a steadier cadence than the twice-a-year coupon rhythm of the underlying Treasury paper.
- The 0.15% fee sits right at the median for short Treasury ETFs, matching what iShares charges on SHY.
Worth knowing
- Median is not cheap here. The broad index giants (VGSH, SCHO, SPTS) run 0.03%, so the curve precision costs you roughly five times their fee.
- The fund may hold up to 20% of assets outside its index when the adviser believes it improves tracking, so exposure is not locked to a single note.
- A 2022 launch and a mid-size asset base mean a shorter record and thinner trading than the decades-old 1-3 year stalwarts in the group.
UTWO Holdings
- Bonds
- 2
- 100%
- United States Treasury Note/Bond 4.75% 09/30/2028
UTWO 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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UTWO$10,131
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 | UTWO |
|---|---|
| Year to date | +0.5% |
| 1 month | +0.1% |
| 3 months | 0.0% |
| 1 year | +1.3% |
| 3 years | +3.8% |
| 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 | UTWO |
|---|---|---|
| 2026 YTD | +0.5% | |
| 2025 | +4.8% | |
| 2024 | +3.7% | |
| 2023 | +3.4% | |
| 2022 | −0.8% |
UTWO in the news
UTWO Dividends
- 3.65%
- $1.73
- $0.16 per share
- Monthly
Distribution history
UTWO Risk
- 1.6%
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.
- −0.53
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.
- −2.0%
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.
- 0.23
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
UTWO Cost
0.15%
UTWO0.15%
- The middle half of Treasuries (1-3 Year) funds
- Median 0.15%
7 of the 15 Treasuries (1-3 Year) funds charge less.
Other funds in Treasuries (1-3 Year)
- BSHYiShares 1-3 Year Treasury Bond ETFExpense ratio 0.15%1 year return +1.4%
- BSLDRGlobal X - Short-Term Treasury Ladder ETFExpense ratio 0.12%1 year return +1.7%
- BUSSHWisdomTree 1-3 Year Laddered Treasury FundExpense ratio 0.15%1 year return +1.4%
- BNEARiShares Short Duration Bond Active ETFExpense ratio 0.25%1 year return +2.0%
- CFTSDFranklin Short Duration U.S. Government ETFExpense ratio 0.25%1 year return +2.0%