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21 F/m ETFs

F/m runs 21 US-listed ETFs, from UTWO in 2022 to 2 launched this year. The median F/m ETF charges 0.15% a year, and 13 charge 0.15%.

Funds21in 10 categories
Assets$10.5BAcross all 21 funds
Weighted expense ratio0.16%Range 0.15% to 0.43%
ETFs since2022
Launched in 202622 in the last 12 months
Grades
A1B11C5D1F0—3not graded

By asset class⁠

Fixed Income10 categories20Equity0 categories1

Top return this year⁠

—RBILUltrashort Treasury Inflation-Protected Security (TIPS)+3.7%ATBILUS Treasury 3 Month Bill Fund+3.2%BXBILUS Treasury 6 Month Bill+3.1%CZMUNUltrashort Tax-Free Municipal+3.0%BOBILUS Treasury 12 Month Bill+2.7%

Newest⁠

—RTHYLong-Term Treasury Inflation-Protected Security (TIPS)Oct 14DSGVAAccumulator Ultrashort Treasury FundJun 10CZMUNUltrashort Tax-Free MunicipalSep 2025BCPAGCompoundr U.S. Aggregate BondAug 2025CCPHYCompoundr High Yield BondAug 2025

About F/m

F/m Investments LLC runs the F/m ETFs. Alexander Morris and David Littleton co-founded it, and it is based in Washington, DC. The firm is privately held, owned by its parent company, F/m Managers Group, LP, and by ZCM, which F/m Managers Group, LP also largely owns. The ownership chain above them leads to 1251 Capital Group entities. Alexander Morris is CEO.fminvest.comsec.gov

It entered US-listed ETFs in 2022 with its US Benchmark Series. The US Treasury 3 Month Bill ETF (TBIL), the US Treasury 2 Year Note ETF (UTWO) and the US Treasury 10 Year Note ETF (UTEN) started on August 8, 2022.sec.gov

US Benchmark Series funds track Treasury indexes, and each index holds a single Treasury issue that is rolled over monthly. The lineup also has actively managed ETFs. Bloomberg provides indexes; TBIL, for example, tracks the Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index.fminvest.com

Every F/m ETF

Select a column heading to sort.Sorted by · showing

Every F/m ETF. Select a column heading to sort.
Grade
AUS Treasury 3 Month Bill FundTBIL · Cash & Ultra-Short IncomeTBILCash & Ultra-Short IncomeCost 0.15%$7.48B1Y +3.7%5Y No dataYield 3.66%
BUS Treasury 6 Month BillXBIL · Cash & Ultra-Short IncomeXBILCash & Ultra-Short IncomeCost 0.15%$796M1Y +3.7%5Y No dataYield 3.69%
BUS Treasury 2 Year NoteUTWO · Treasuries (1-3 Year)UTWOTreasuries (1-3 Year)Cost 0.15%$530M1Y +1.9%5Y No dataYield 3.74%
BUS Treasury 12 Month BillOBIL · Cash & Ultra-Short IncomeOBILCash & Ultra-Short IncomeCost 0.15%$344M1Y +3.3%5Y No dataYield 3.73%
BUS Treasury 10 Year NoteUTEN · Treasuries (3-10 Year)UTENTreasuries (3-10 Year)Cost 0.15%$267M1Y −1.6%5Y No dataYield 4.24%
DAccumulator Ultrashort Treasury FundSGVA · Cash & Ultra-Short IncomeSGVACash & Ultra-Short IncomeCost 0.22%$256M1Y No data5Y No dataYield 0.00%
BUS Treasury 30 Year BondUTHY · Treasuries (20+ Year)UTHYTreasuries (20+ Year)Cost 0.15%$222M1Y −4.1%5Y No dataYield 4.95%
—Ultrashort Treasury Inflation-Protected Security (TIPS)RBIL · TIPSRBILTIPSCost 0.17%$176M1Y +4.1%5Y No dataYield 4.30%
BCompoundr U.S. Aggregate BondCPAG · US Aggregate BondCPAGUS Aggregate BondCost 0.31%$151M1Y −0.6%5Y No dataYield 0.00%
COpportunistic IncomeZHOG · US Aggregate BondZHOGUS Aggregate BondCost 0.43%$45M1Y No data5Y No dataYield 5.12%
C3-Year Investment Grade Corporate BondZTRE · Investment Grade Corporate (0-5 Year)ZTREInvestment Grade Corporate (0-5 Year)Cost 0.15%$42M1Y +2.1%5Y No dataYield 4.35%
CUltrashort Tax-Free MunicipalZMUN · Short-Duration Municipal BondsZMUNShort-Duration Municipal BondsCost 0.30%$37M1Y +3.5%5Y No dataYield 3.78%
—Long-Term Treasury Inflation-Protected Security (TIPS)RTHYRTHYNo dataCost 0.19%$34M1Y No data5Y No dataYield 0.00%
B10-Year Investment Grade Corporate BondZTEN · Investment Grade Corporate (10+ Year)ZTENInvestment Grade Corporate (10+ Year)Cost 0.15%$29M1Y −0.2%5Y No dataYield 5.28%
BUS Treasury 5 Year NoteUFIV · Treasuries (3-10 Year)UFIVTreasuries (3-10 Year)Cost 0.15%$26M1Y −0.5%5Y No dataYield 3.87%
—2-Year Investment Grade Corporate BondZTWO · Investment Grade Corporate (0-5 Year)ZTWOInvestment Grade Corporate (0-5 Year)Cost 0.15%$18M1Y +2.5%5Y No dataYield 4.23%
BHigh Yield 100ZTOP · US High YieldZTOPUS High YieldCost 0.39%$16M1Y +2.7%5Y No dataYield 6.39%
BUS Treasury 3 Year NoteUTRE · Treasuries (3-10 Year)UTRETreasuries (3-10 Year)Cost 0.15%$14M1Y +1.0%5Y No dataYield 3.76%
BUS Treasury 20 Year BondUTWY · Treasuries (20+ Year)UTWYTreasuries (20+ Year)Cost 0.15%$12M1Y −3.2%5Y No dataYield 4.88%
CUS Treasury 7 Year NoteUSVN · Treasuries (3-10 Year)USVNTreasuries (3-10 Year)Cost 0.15%$7M1Y −1.0%5Y No dataYield 4.05%
CCompoundr High Yield BondCPHY · US High YieldCPHYUS High YieldCost 0.35%$3M1Y +1.0%5Y No dataYield 0.00%

F/m ETFs by category

Fixed IncomeEquity
  1. Cash & Ultra-Short Income4
  2. Treasuries (3-10 Year)4
  3. Investment Grade Corporate (0-5 Year)2
  4. Treasuries (20+ Year)2
  5. US Aggregate Bond2
  6. US High Yield2
  7. Investment Grade Corporate (10+ Year)1
  8. Short-Duration Municipal Bonds1
  9. TIPS1
  10. Treasuries (1-3 Year)1

Launches

2funds launched in the last 12 months

October 2026

—RTHYLong-Term Treasury Inflation-Protected Security (TIPS)Oct 14

June 2026

DSGVAAccumulator Ultrashort Treasury FundJun 10

Questions

How many ETFs does F/m run?
F/m runs 21 US-listed ETFs: 20 fixed income funds and 1 equity fund, across 10 categories.
What is the largest F/m ETF?
F/m US Treasury 3 Month Bill Fund (TBIL) is the largest, with $7.48B in assets. US Treasury 6 Month Bill ETF (XBIL) is second.
What is the cheapest F/m ETF?
13 F/m ETFs charge 0.15% a year, the lowest in the lineup. They include TBIL, XBIL, UTWO and OBIL. The median F/m ETF charges 0.15%.
What does the Grade on each fund mean?
Each A–F Grade compares a fund with the other funds in its own category, on cost, mission, risk, tradability, holdings and durability. It does not rate F/m, and Grades in different categories do not compare.
When did F/m launch its first ETF?
US Treasury 2 Year Note ETF (UTWO) launched on Aug 9, 2022. F/m has launched 2 ETFs so far in 2026.

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* Includes Vanguard’s mutual-fund shares, so it is not comparable with other issuers.

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