BBSB vs BWZ: Grades, Fees and Holdings Compared

JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF

BBSBACboe

SPDR Bloomberg Short Term International Treasury Bond ETF

BWZCNYSE Arca

Overlap

No data

Expense ratio

BBSB −0.31pt a year

BBSB0.04%BWZ0.35%

Avg volume · 30D

BWZ 52.1×the volume

BBSB1.99KBWZ104K

3Y return · a year

BBSB +1.1pt

BBSB+4.2%BWZ+3.1%

BBSB vs BWZ Performance

Oct 31, 2025 – Nov 2, 2026

+2.2%BBSB+0.1%BWZ

Expense ratio: BBSB 0.04%, better; BWZ 0.35%
Fund size: BBSB $55M; BWZ $299M
1Y total return: BBSB +2.2%, better; BWZ +0.1%
Yield (12M): BBSB 4.12%, better; BWZ 2.34%
Holdings: BBSB 92; BWZ 294
Avg volume (30D): BBSB 1.99K sh; BWZ 104K sh, better
NAV per share: BBSB $97.77; BWZ $26.66
52W range

ETF.net Grade

Pillar letters and Scores for BBSB, BWZ, with each pillar’s weight
Pillar	BBSB	BWZ
Cost30% weight	A89Higher	F4
Mission25% weight	A100Higher	A94
Risk15% weight	C53Higher	D26
Tradability15% weight	D34Higher	F21
Holdings10% weight	B66	A98Higher
Durability5% weight	D35	B60Higher

Rank among Treasuries (1-3 Year) funds

How we build Categories ›

Same Category. BBSB and BWZ are both graded against the same 15 Treasuries (1-3 Year) funds, so their Grades compare head to head.

Treasuries (1-3 Year)⁠

Category · 15 funds

See all 15 ›

BBSB ranks 4th and BWZ 14th of 15 funds in the Treasuries (1-3 Year) Category.

Rank 1ASCHOSchwab Short-Term U.S. Treasury ETFScore 82
Rank 2ASPTSState Street SPDR Portfolio Short Term Treasury ETFScore 81
Rank 2AVGSHVanguard Short-Term Treasury ETFScore 81
Rank 4ABBSBJPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETFScore 73
Rank 5BSHYiShares 1-3 Year Treasury Bond ETFScore 68
Rank 13CCUSTCorgi 1-3 Year Treasury Bond ETFScore 51
Rank 14CBWZSPDR Bloomberg Short Term International Treasury Bond ETFScore 44
Rank 15CSJLDSanJac Alpha Low Duration ETFScore 40

Our read on each fund

ETF.net Research

BBSBAJPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF

BWZCSPDR Bloomberg Short Term International Treasury Bond ETF

In short

BBSB A plain box of short Treasuries at 0.04%, well under what the category's longtime benchmark fund charges for the very same ICE index. About 90 bonds, monthly income, no story beyond the math.

BWZ The odd one out on the short-Treasury shelf. BWZ skips Uncle Sam and buys 1-3 year government bonds from the rest of the world, spread across a few hundred issues with index caps so no single country runs the show.

Stated mandate

BBSB The fund seeks current income by tracking the ICE U.S. Treasury 1-3 Year Bond Index. It uses representative sampling to closely replicate the index's characteristics.

BWZ The fund seeks to track, before fees and expenses, the price and yield performance of the Bloomberg 1-3 Year Global Treasury ex-US Capped Index.

Why people hold it

BBSB Charges 0.04% a year, versus a 0.15% median for 1-3 year Treasury ETFs. On a parking-lot asset like this, fee is most of the controllable outcome.
Tracks the ICE U.S. Treasury 1-3 Year Bond Index, the same benchmark iShares' SHY follows at 0.15%. Same bonds, same rules, a fraction of the toll.jpmorgan.com
Representative sampling of roughly 90 Treasuries keeps it tight to the index, and it stays in its lane: U.S. government paper, one to three years, monthly distributions.

BWZ Buys where its shelf-mates don't: short-dated sovereign debt issued outside the US, with index caps that keep one country from dominating the basket.
About 300 bonds, all parked in the 1-3 year slice of the curve, the corner of government debt where rate swings bite least.
Running since 2009 under State Street's SPDR banner, through several full rate cycles, and it pays monthly.

Worth knowing

BBSB Thinly traded. Bid-ask spread can outweigh the fee edge for short holding periods, so execution matters more here than with the category's giants.
VGSH, SCHO and SPTS run the same short-Treasury job for 0.03%. The gap is a rounding error, but it is a gap.
Launched in 2023 with a modest asset base, so it has a shorter operating history than the decades-old incumbents in this corner.

BWZ Costs 0.35% a year. The plain US short-Treasury funds it gets shelved beside (VGSH, SCHO, SPTS) charge 0.03%.
Filed with 1-3 year Treasury funds, but the holdings are foreign governments. Expect it to move on its own schedule, not in step with SHY and company.
Mid-sized and moderately traded rather than a volume monster, so the spread you pay matters more here than in the giant short-Treasury names.

Full BBSB profile⁠

Full BWZ profile⁠

BBSB vs BWZ Holdings

How BBSB and BWZ differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile0.0%
Asset classFixed Income100%

Sector

No Sector split for BBSB and BWZ.

Country, concentration and asset class

Country by domicile

Country weights in BBSB and BWZ, widest gap first
Country	More in BBSBMore in BWZ	BBSB	BWZ
United States	BBSB +100.0 points	100.0%	0.0%
Japan	BWZ +23.3 points	0.0%	23.3%
France	BWZ +5.4 points	0.0%	5.4%
South Korea	BWZ +4.7 points	0.0%	4.7%
Canada	BWZ +4.7 points	0.0%	4.7%
United Kingdom	BWZ +4.7 points	0.0%	4.7%
Australia	BWZ +4.6 points	0.0%	4.6%
China	BWZ +4.6 points	0.0%	4.6%
Other countries (27)	BWZ +48.1 points	0.0%	48.1%

Outside the US: BWZ 72% developed, 28% emerging.

Concentration

Weight in the 10 largest Holdings

BBSB15.2%
BWZ11.1%

Securities held

BBSB90
BWZ267

Asset class

BBSB: Fixed Income
BWZ: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. BBSB holds 90 securities, BWZ 267.

All 92 BBSB holdings⁠All 329 BWZ 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.

BBSB vs BWZ Cost

Overpaying BWZ vs BBSB

$6,277

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

BBSB 0.04%
$849
BWZ 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

BBSB 0.04%
BWZ 0.35%
Overpaying

Year by year

Year	BBSB	BWZ	Overpaying
10	$73	$634	$561
20	$288	$2,454	$2,166
30	$849	$7,126	$6,277

Expense ratio

0.04%BBSB, cheaper
0.35%BWZ

BBSB0.04%BWZ0.35%

0.03%0.35%

Middle half of Treasuries (1-3 Year) funds
Median 0.15%

BBSB 4th cheapest of 15 funds

BWZ 14th cheapest of 15 funds

BBSB vs BWZ Dividends

Last 12 months to Nov 2, 2026

Yield (12M): BBSB 4.12%, better; BWZ 2.34%
Payout (12M): BBSB $4.02; BWZ $0.62
Last payment: BBSB $0.33; BWZ $0.05
Ex-dividend: BBSB Nov 2, 2026; BWZ Nov 2, 2026
Paid on: BBSB Pays Nov 4, 2026; BWZ Pays Nov 5, 2026
Frequency: BBSB Monthly; BWZ Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BBSBMonthly · 43 paymentsAll BBSB payments⁠

BWZMonthly · 46 paymentsAll BWZ payments⁠

BBSB vs BWZ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BBSB 1.6%, betterBWZ 7.5%
Return per unit of riskSharpe ratio, 3 years: BBSB −0.19BWZ −0.09, better
Worst fallMax drawdown, 5 years: BBSB −1.6%since Apr 2023BWZ −20.3%
Market sensitivityBeta, 5 years: BBSB 0.23BWZ 0.94; Market = 1

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