BBIB vs UTEN

BBIBAJPMorgan BetaBuilders U.S. Treasury Bond 3-10 Year ETF

UTENBUS Treasury 10 Year Note ETF

In short

BBIB A plain ladder of 3-to-10-year Treasuries at four basis points. JPMorgan showed up late to this corner of the market and priced its way in, undercutting most of the intermediate Treasury shelf while hugging its index.

UTEN Most Treasury funds hand you a basket spanning 3 to 10 years. UTEN tracks an index built on one bond, the current 10-year note, refreshed as new ones come to auction, with income paid out monthly.

Stated mandate

BBIB The fund is designed to provide current income and to closely track the investment results of the ICE U.S. Treasury 3-10 Year benchmark.

UTEN The fund seeks, before fees and expenses, to generally match the price and yield performance of the ICE BofA Current 10-Year US Treasury Index (GA10). It normally invests at least 80% of net assets in securities comprising that index.

Why people hold it

• BBIB Charges 0.04% a year, well below the typical intermediate Treasury fund and only a hair off the cheapest names in the group (SPTI, SCHR).
• Built to track the ICE U.S. Treasury 3-10 Year index and stays close to it, one of the tightest implementations in its peer group.jpmorgan.com
• Straight government paper, roughly 80 issues, no credit sleeve, and income paid monthly.

• UTEN One bond, one point on the curve. The index holds the current 10-year Treasury note, so your rate exposure stays pinned there instead of drifting around a 3-to-10-year blend.
• Treasury notes pay a coupon twice a year. This wrapper passes income through monthly, which suits anyone running a cash-flow calendar.
• 0.15% a year sits right at the median for intermediate Treasury funds, and the fund has stayed very close to its one-bond benchmark.

Worth knowing

• BBIB Thinly traded next to the category's giants, so spreads can run wider and bigger orders take more care.
• A 2023 launch with a modest asset base, so the record here is short compared with decade-old rivals.
• Intermediate duration cuts both ways: prices move opposite yields, more than cash-like funds and less than long bonds.

• UTEN Precision has a price. SPTI and SCHR charge 0.03% for broad 3-to-10-year Treasury exposure, roughly a fifth of what this one costs.
• Full 10-year duration, undiluted. Sitting at the long end of this group means bigger price moves when yields shift than shorter-dated Treasury funds see.
• It trades lighter than the household-name Treasury ETFs, so bid-ask spreads can run wider than the volume leaders'.

Full BBIB profile⁠

Full UTEN profile⁠