US Treasury 2 Year Note ETF
$47.45−0.10 (−0.20%)
- Expense ratio
- 0.15%
- Fund size
- $492M
- 1Y return
- +1.5%
- Yield · Last 12 months
- 3.59%
- Holdings
- 2
- Volume · 30D
- 0.1M sh
- NAV per share
- $47.53
- 52W range
The ETF.net UTWO Grade
Score 60 of 100 sits in the B 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.CScore 43Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 41Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 67Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 38Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 56Category rank
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 4.125% 08/31/2028
UTWO Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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.
| Period | UTWO |
|---|---|
| Year to date | +0.3% |
| 1 month | −0.6% |
| 3 months | +0.1% |
| 1 year | +1.5% |
| 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 | +0.3% | |
| 2025 | +4.8% | |
| 2024 | +3.7% | |
| 2023 | +3.4% | |
| 2022 | −0.8% |
UTWO in the news
ETF.net Research hasn’t filed on UTWO yet — coverage lands here as it’s written.
UTWO Dividends
- 3.59%
- $1.71
- $0.16 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 27, 2026 | Aug 28, 2026 | $0.16 |
| Jul 28, 2026 | Jul 29, 2026 | $0.16 |
| Jun 29, 2026 | Jun 30, 2026 | $0.15 |
| May 28, 2026 | May 29, 2026 | $0.14 |
| Apr 28, 2026 | Apr 29, 2026 | $0.15 |
| Mar 30, 2026 | Mar 31, 2026 | $0.13 |
| Feb 26, 2026 | Feb 27, 2026 | $0.14 |
| Jan 29, 2026 | Jan 30, 2026 | $0.14 |
| Dec 30, 2025 | Dec 31, 2025 | $0.13 |
| Dec 2, 2025 | Dec 3, 2025 | $0.14 |
| Nov 3, 2025 | Nov 4, 2025 | $0.13 |
| Oct 1, 2025 | Oct 2, 2025 | $0.13 |
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.
- −0.47
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
- The middle half of Treasuries (1-3 Year) funds
- Median 0.15%
7 of the 15 Treasuries (1-3 Year) funds charge less.