BBLB vs UTHY

BBLBAJPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF

UTHYBUS Treasury 30 Year Bond ETF

In short

BBLB The same 20+ year Treasury index the category's household name tracks, at a fraction of the fee. A plain, cheap wrapper on the long end of the curve, still small and young by category standards.

UTHY Most long-Treasury funds blend dozens of bonds into an average. UTHY holds one: the current 30-year, rolling into the next when it's auctioned. Pure exposure to the far end of the curve, with monthly payouts instead of a bond's semiannual coupons.

Stated mandate

BBLB The fund seeks investment results that closely correspond, before fees and expenses, to the ICE U.S. Treasury 20+ Year Bond Index.

UTHY The fund seeks to track, before fees and expenses, the price and yield performance of its Bloomberg Treasury benchmark.

Why people hold it

• BBLB Costs 0.04% a year against a 0.15% median for long-Treasury funds, and follows the very same index as TLT, which charges 0.15%.
• No clever overlay. It holds the actual long-dated Treasuries of the ICE U.S. Treasury 20+ Year Bond Index, a few dozen bonds, and has hugged that benchmark closely.
• Coupon income is paid out monthly, not quarterly, so cash arrives on a steadier rhythm.
• On cost and index fidelity, one of the tidiest implementations in the long-Treasury group, alongside cheap rivals like VGLT and EDV.

• UTHY Single-security design. It tracks the Bloomberg US Treasury Bellwether 30Y index, meaning the newest 30-year bond, then hands off to the next one at auction. No maturity bucket, no drifting average duration.fminvest.com
• The underlying bond pays interest twice a year. The fund aims to pay monthly, and handles the rolling into each newly issued 30-year for you.fminvest.com
• At 0.15%, it sits exactly at the median fee for long-Treasury ETFs, same sticker as TLT, the category's best-known name.
• Part of F/m's US Benchmark Series, the shelf that first wrapped an individual Treasury in an ETF, with a fund at each benchmark point on the curve.fminvest.combusinesswire.com

Worth knowing

• BBLB Trades thinly next to the category's giants, so spreads can widen. Limit orders do real work here.
• A small fund launched in 2023, without the asset base or history of the older names tracking the same ground.
• Bonds maturing 20+ years out swing hard when long yields move. Credit risk is about as low as it gets; interest-rate risk is not.

• UTHY One bond, no cushion. You get the full rate sensitivity of a fresh 30-year and nothing else in the portfolio to soften a move in long yields.fminvest.com
• Cheaper routes to the long end exist: VGLT charges 0.03% and BBLB 0.04%, against 0.15% here.
• Smaller and less heavily traded than the long-Treasury giants, and it launched in 2023, so the track record is short.

Full BBLB profile⁠

Full UTHY profile⁠