ARCM vs CLIP: Grades, Fees and Holdings Compared

Arrow Reserve Capital Management ETF

ARCMCCboe

Global X 1-3 Month T-Bill ETF

CLIPANYSE Arca

Overlap

0.0%by weight

Expense ratio

CLIP −0.43pt a year

ARCM0.50%CLIP0.07%

Avg volume · 30D

CLIP 720.2×the volume

ARCM396CLIP285K

3Y return · a year

CLIP +0.1pt

ARCM+4.4%CLIP+4.5%

ARCM vs CLIP Performance

Oct 31, 2025 – Oct 30, 2026

+3.3%ARCM+3.8%CLIP

Expense ratio: ARCM 0.50%; CLIP 0.07%, better
Fund size: ARCM $51M; CLIP $2.35B
1Y total return: ARCM +3.3%; CLIP +3.8%, better
Yield (12M): ARCM 3.87%, better; CLIP 3.72%
Holdings: ARCM 103; CLIP 26
Avg volume (30D): ARCM 396 sh; CLIP 285K sh, better
NAV per share: ARCM $100.24; CLIP $100.38
52W range

ETF.net Grade

Pillar letters and Scores for ARCM, CLIP, with each pillar’s weight
Pillar	ARCM	CLIP
Cost30% weight	F3	A89Higher
Mission25% weight	A100	A100
Risk15% weight	C46	C47Higher
Tradability15% weight	D33	A80Higher
Holdings10% weight	B63	Not scored
Durability5% weight	C47	B68Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. ARCM and CLIP are both graded against the same 78 Cash & Ultra-Short Income funds, so their Grades compare head to head.

Cash & Ultra-Short Income⁠

Category · 78 funds

See all 78 ›

CLIP ranks 2nd and ARCM 64th of 78 funds in the Cash & Ultra-Short Income Category.

Rank 1AICSHiShares Ultra Short Duration Bond Active ETFScore 85
Rank 2ACLIPGlobal X 1-3 Month T-Bill ETFScore 82
Rank 3AVUSBVanguard Ultra-Short Bond ETFScore 81
Rank 62CSOFRAmplify Samsung SOFR ETFScore 49
Rank 64CARCMArrow Reserve Capital Management ETFScore 46
Rank 64CSCUBSterling Capital Ultra Short Duration Bond EtfScore 46

Our read on each fund

ETF.net Research

ARCMCArrow Reserve Capital Management ETF

CLIPAGlobal X 1-3 Month T-Bill ETF

In short

ARCM Arrow's boutique take on cash parking, running since 2017: preserve capital, collect current income, pay monthly. The trade-off is a 0.50% fee in a corner of the bond market where the giants charge a fraction of that.

CLIP Treasury bills, one to three months out, at half the fee of the category's longtime giant. Global X launched CLIP in 2023 as the cheap challenger in the parking-lot corner of the bond market, and it has hugged its index tightly since.

Stated mandate

ARCM The Fund seeks to preserve capital while maximizing current income.

CLIP CLIP seeks to track, before fees and expenses, the price and yield performance of the Solactive 1-3 month US T-Bill Index. It invests in U.S. government Treasury bills with remaining maturities from one month to under three months.

Why people hold it

ARCM Does what the label says: a reserve cash-management strategy aiming to preserve capital while maximizing current income, matching the mandate in its own filings.
Income is paid monthly, which fits the short-horizon cash job the fund is built for.
Trading since 2017, so it has operated across very different interest-rate environments instead of arriving mid-cycle.
A 1940 Act fund with a clearly stated fixed-income mandate, so what you own is spelled out in the prospectus.

CLIP 0.07% a year, half the 0.14% median for its bill-fund cohort and half what category veteran BIL charges for the same one-to-three-month exposure.
The mandate fits on one line: US Treasury bills maturing in one month to under three, roughly two dozen of them. Government paper only, no corporate credit slipped in.globalxetfs.com
Sticks to the Solactive 1-3 month US T-Bill Index about as tightly as anything in its peer group, which is the entire job description for a bill fund.
Distributes monthly, and it has already gathered billions in assets, so it is no thin-ice launch.

Worth knowing

ARCM Fee is the headline trade-off: 0.50% against a 0.20% category median, and five times Vanguard's VUSB at 0.10%.
Small and thinly traded, so bid-ask spreads can run wider than the category heavyweights and larger orders can move the price.
In ultra-short bonds the expense ratio comes straight out of the income collected, so cost weighs more heavily here than in most categories.

CLIP Income comes straight off short-term Treasury rates. Monthly payouts move up and down with those rates rather than sitting at a fixed level.
It opened in 2023, so the track record is short next to the bill funds it undercuts on fee.
Volume is respectable, not the deepest in the cohort, and a hair cheaper exists (Vanguard's VBIL at 0.06%). At these fee levels the gap is rounding error.

Full ARCM profile⁠

Full CLIP profile⁠

ARCM vs CLIP Holdings

As of Oct 13, 2026

How ARCM and CLIP differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of ARCM and 0.0% of CLIP.

Level by level

Asset classFixed Income, Cash0.0%
Holdings0 in both0.0%
Countryby domicile98.9%

Sector

No Sector split for ARCM and CLIP.

Country, concentration and asset class

Country by domicile

Country weights in ARCM and CLIP, widest gap first
Country	More in ARCMMore in CLIP	ARCM	CLIP
United States	CLIP +1.1 points	98.9%	100.0%
Singapore	ARCM +1.1 points	1.1%	0.0%

Concentration

Weight in the 10 largest Holdings

ARCM37.8%
CLIP63.8%

Securities held

ARCM102
CLIP26

Asset class

ARCM: Fixed Income
CLIP: Cash

Holdings

Only in ARCM102
In both0
Only in CLIP26

Only in ARCM

102 securities, 100% of ARCM by weight

Bbh Sweep Vehicle12.80%
United States Treasury Bill 0% Due 11/03/20265.41%
United States Treasury Bill 0% Due 11/05/20265.35%
United States Treasury Note 4.125% Due 09/30/20272.49%
Allstate Corporation (The) 3.28% Due 12/15/20262.21%
Becton Dickinson and Company 3.7% Due 06/06/20272.03%
United States Treasury Note 3.625% Due 08/31/20272.02%
United States Treasury Note 4.125% Due 11/15/20271.96%
WEC Energy Group Inc. 4.75% Due 01/15/20281.93%
Clorox Company (The) 3.9% Due 05/15/20281.62%
NextEra Energy Capital Holdings Inc. 4.685% Due 09/01/20271.59%
State Street Bank & Trust Company 4.594% Due 11/25/20261.58%
Textron Inc. 3.65% Due 03/15/20271.53%
Duke Energy Corporation 4.3% Due 03/15/20281.46%
Northrop Grumman Corporation 3.2% Due 02/01/20271.46%
RTX Corporation 3.5% Due 03/15/2027 01.44%
Capital One Financial Corporation 3.65% Due 05/11/20271.41%
Procter & Gamble Company (The) 2.45% Due 11/03/20261.38%
Tanger Properties L.P. 3.875% Due 07/15/20271.31%
Morgan Stanley 3.625% Due 01/20/20271.19%
Carrier Global Corporation 2.493% Due 02/15/20271.18%
Citigroup Inc. 4.45% Due 09/29/20271.15%
Intel Corporation 3.15% Due 05/11/20271.14%
Goldman Sachs Group Inc. (The) 3.5% Due 11/16/20261.12%
Eaton Corporation 3.85% Due 03/06/20281.11%
Principal Financial Group Inc. 3.1% Due 11/15/20261.11%
United States Treasury Bill 0% Due 12/03/20261.08%
AbbVie Inc. 4.8% Due 03/15/20271.05%
Amazon.com Inc. 3.85% Due 03/13/20281.03%
Sherwin-Williams Company (The) 3.45% Due 06/01/20271.03%
S&P Global Inc. 2.45% Due 03/01/20271.02%
AT&T Inc. 4.25% Due 03/01/20271.01%
Amgen Inc. 5.15% Due 03/02/2028 01.01%
Ingersoll Rand Inc. 5.197% Due 06/15/20271.01%
Verizon Communications Inc. 4.125% Due 03/16/20271.00%
United States Treasury Note 4.25% Due 11/30/20261.00%
The Campbell's Company 5.2% Due 03/19/20271.00%
United States Treasury Note 3.875% Due 07/31/20271.00%
Parker-Hannifin Corporation 4.25% Due 09/15/20270.99%
JPMorgan Chase Bank NA 5.11% Due 12/08/20260.99%
Ross Stores Inc. 4.7% Due 04/15/20270.98%
Alphabet Inc. 4.5% Due 08/10/20280.98%
American Express Company 3.3% Due 05/03/20270.95%
Pfizer Investment Enterprises Pte Ltd. 4.45% Due 05/19/20280.94%
Southern Company (The) 4.85% Due 06/15/20280.92%
Marriott International Inc. 4.2% Due 07/15/20270.91%
Stryker Corporation 4.55% Due 02/10/20270.89%
Goldman Sachs Group Inc. (The) 3.85% Due 01/26/20270.89%
Exelon Corporation 2.75% Due 03/15/20270.79%
CNA Financial Corporation 3.45% Due 08/15/20270.78%

Only in CLIP

26 securities, 100% of CLIP by weight

B 11/19/26 (BVSVZ28)8.23%
B 11/27/26 (BVPJDQ5)7.53%
B 11/12/26 (BT9R101)7.40%
B 12/03/26 (BW61LR4)7.04%
B 11/05/26 (BNZJKH9)6.95%
B 12/17/26 (BWRXMP4)6.37%
B 11/03/26 (BQGF9D6)5.67%
B 12/01/26 (BRJJ0F1)5.11%
B 12/31/26 (BNVVYP5)5.09%
B 11/24/26 (C04JZH3)4.42%
B 11/17/26 (BRCDQ07)4.31%
B 12/24/26 (BSSBJ36)4.26%
B 11/10/26 (BXM1HG6)4.03%
B 12/08/26 (BX7WM14)4.01%
Other Payable & Receivables3.27%
B 10/20/26 (BWM2X64)3.04%
B 10/29/26 (BV3PBJ4)2.99%
B 10/22/26 (BW5RJY6)2.96%
B 10/27/26 (BVSRRW0)2.55%
B 01/07/27 (BTCLH46)2.54%
B 12/10/26 (BXM7C47)2.38%
B 10/15/26 (BTWQYX9)2.03%
B 01/05/27 (BQZCL87)1.06%
B 12/15/26 (BV88875)0.02%
B 12/22/26 (BVSPGV6)0.02%
B 12/29/26 (BV8CZK9)0.02%

Weight gaps

ARCM and CLIP share no securities.

All ARCM holdings⁠All 27 CLIP holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ARCM vs CLIP Cost

Overpaying ARCM vs CLIP

$8,499

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

ARCM 0.50%
$9,979
CLIP 0.07%
$1,480

Amount$10,000

Years30 years

Cost over time

ARCM 0.50%
CLIP 0.07%
Overpaying

Year by year

Year	ARCM	CLIP	Overpaying
10	$900	$128	$772
20	$3,460	$503	$2,957
30	$9,979	$1,480	$8,499

Expense ratio

0.50%ARCM
0.07%CLIP, cheaper

CLIP0.07%ARCM0.50%

0.03%1.00%

Middle half of Cash & Ultra-Short Income funds
Median 0.18%

CLIP 8th cheapest of 78 funds

ARCM 76th cheapest of 78 funds

ARCM vs CLIP Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ARCM 3.87%, better; CLIP 3.72%
Payout (12M): ARCM $3.87; CLIP $3.74
Last payment: ARCM $0.31; CLIP $0.31
Ex-dividend: ARCM Oct 30, 2026; CLIP Oct 1, 2026
Paid on: ARCM Pays Nov 4, 2026; CLIP Oct 6, 2026
Frequency: ARCM Monthly; CLIP Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

ARCMMonthly · 46 paymentsAll ARCM payments⁠

CLIPMonthly · 40 paymentsAll CLIP payments⁠

ARCM vs CLIP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: ARCM 0.4%CLIP 0.2%, better
Return per unit of riskSharpe ratio, 3 years: ARCM −0.34, betterCLIP −0.51
Worst fallMax drawdown, 5 years: ARCM −3.5%CLIP −0.1%since Jun 2023
Market sensitivityBeta, 5 years: ARCM 0.03CLIP 0.01; Market = 1

ARCM and CLIP in the news

All news⁠

Best ETFs
T-bill ETFs: Vanguard’s VBIL undercuts SGOV, BIL and CLIP at 0.06%
Updated Nov 2, 2026CLIP

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ARCM vs CLIP

In short

Stated mandate

Why people hold it

Worth knowing

How ARCM and CLIP differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ARCM

Only in CLIP

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

T-bill ETFs: Vanguard’s VBIL undercuts SGOV, BIL and CLIP at 0.06%

How ARCM and CLIP differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ARCM

Only in CLIP

Weight gaps