CLIP vs FLDB: Grades, Fees and Holdings Compared

Global X 1-3 Month T-Bill ETF

CLIPANYSE Arca

Fidelity Low Duration Bond ETF

FLDBCNasdaq

Overlap

0.0%by weight

Expense ratio

CLIP −0.13pt a year

CLIP0.07%FLDB0.20%

Avg volume · 30D

CLIP 18.7×the volume

CLIP296KFLDB15.8K

CLIP vs FLDB Performance

Nov 7, 2025 – Nov 9, 2026

+3.7%CLIP+3.7%FLDB

Expense ratio: CLIP 0.07%, better; FLDB 0.20%
Fund size: CLIP $2.35B; FLDB $448M
1Y total return: CLIP +3.7%; FLDB +3.7%
Yield (12M): CLIP 3.72%; FLDB 4.29%, better
Holdings: CLIP 27; FLDB 413
Avg volume (30D): CLIP 296K sh, better; FLDB 15.8K sh
NAV per share: CLIP $100.14; FLDB $50.22
52W range

ETF.net Grade

Pillar letters and Scores for CLIP, FLDB, with each pillar’s weight
Pillar	CLIP	FLDB
Cost30% weight	A89Higher	D39
Mission25% weight	A100	A100
Risk15% weight	C46	C48Higher
Tradability15% weight	A78Higher	F18
Holdings10% weight	Not scored	B55
Durability5% weight	B68Higher	C52

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. CLIP and FLDB 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 FLDB 57th of 78 funds in the Cash & Ultra-Short Income Category.

Rank 1AICSHiShares Ultra Short Duration Bond Active ETFScore 84
Rank 2ACLIPGlobal X 1-3 Month T-Bill ETFScore 81
Rank 2AVBILVanguard 0-3 Month Treasury Bill ETFScore 81
Rank 51BTLDRThe Laddered T-Bill ETFScore 55
Rank 57CFLDBFidelity Low Duration Bond ETFScore 54
Rank 57CTUSITouchstone Ultra Short Income ETFScore 54

Our read on each fund

ETF.net Research

CLIPAGlobal X 1-3 Month T-Bill ETF

FLDBCFidelity Low Duration Bond ETF

In short

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.

FLDB Fidelity's 2024-vintage cash-adjacent bond fund: roughly 300 short-maturity holdings measured against 6-to-9-month T-bills, with income paid monthly. A diversified credit mix where many category rivals hold Treasuries and little else.

Stated mandate

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.

FLDB FLDB uses a diversified, low-duration bond strategy to pursue substantial current income while seeking to preserve capital.

Why people hold it

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.

FLDB Spreads risk across roughly 300 short-maturity bonds rather than one Treasury sleeve, with the Bloomberg U.S. Treasury Bill: 6-9 Months Index as its yardstick.fidelity.com
Pays monthly, matching a mandate written around substantial current income while seeking to preserve capital.fidelity.com
Stays inside its stated low-duration remit instead of stretching maturities for extra yield, and has pulled in hundreds of millions since its 2024 debut.

Worth knowing

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.

FLDB The 0.20% fee sits at the category median, and cheaper shelf-mates undercut it: VUSB at 0.10%, SHV, PULS and Fidelity's own FLDR at 0.15%.
Thinly traded next to the ultrashort category's household names, which can mean wider bid-ask spreads on the way in and out.
Launched February 2024, so its record is short and has not yet spanned a full rate cycle.

Full CLIP profile⁠

Full FLDB profile⁠

CLIP vs FLDB Holdings

How CLIP and FLDB differ

Overlap by weight

0.0%

Level by level

Asset classCash, Bonds0.0%
Holdings0 in both0.0%
Sector3 Sectors26.3%
Countryby domicile79.6%

Sector

Sector weights in CLIP and FLDB, widest gap first
Sector	Gap	CLIP	FLDB
Government	CLIP +73.7 points	100.0%	26.3%
Corporate	FLDB +50.2 points	0.0%	50.2%
Securitized	FLDB +23.5 points	0.0%	23.5%

Country, concentration and asset class

Country by domicile

Country weights in CLIP and FLDB, widest gap first
Country	Gap	CLIP	FLDB
United States	CLIP +20.4 points	100.0%	79.6%
Canada	FLDB +5.9 points	0.0%	5.9%
United Kingdom	FLDB +5.2 points	0.0%	5.2%
Cayman Islands	FLDB +4.4 points	0.0%	4.4%
Japan	FLDB +1.1 points	0.0%	1.1%
Netherlands	FLDB +0.9 points	0.0%	0.9%
Denmark	FLDB +0.6 points	0.0%	0.6%
France	FLDB +0.5 points	0.0%	0.5%
Other countries (5)	FLDB +1.7 points	0.0%	1.7%

Concentration

Weight in the 10 largest Holdings

CLIP56.9%
FLDB32.8%

Securities held

CLIP26
FLDB410

Asset class

CLIP: Cash
FLDB: Bonds

Holdings

Only in CLIP26
In both0
Only in FLDB410

Only in CLIP

26 securities, 100% of CLIP by weight

B 12/17/26 (BWRXMP4)7.45%
B 12/03/26 (BW61LR4)7.07%
B 12/24/26 (BSSBJ36)6.41%
B 12/01/26 (BRJJ0F1)6.17%
B 01/07/27 (BTCLH46)5.72%
B 12/08/26 (BX7WM14)5.11%
B 12/31/26 (BNVVYP5)5.09%
B 12/10/26 (BXM7C47)4.97%
B 01/21/27 (BV2FL73)4.85%
B 11/10/26 (BXM1HG6)4.06%
B 01/05/27 (BQZCL87)4.02%
B 11/12/26 (BT9R101)3.99%
B 12/29/26 (BV8CZK9)3.87%
B 11/19/26 (BVSVZ28)3.83%
B 11/17/26 (BRCDQ07)3.55%
B 11/24/26 (C04JZH3)3.35%
B 11/27/26 (BVPJDQ5)3.31%
B 12/22/26 (BVSPGV6)3.24%
B 12/15/26 (BV88875)3.09%
B 01/26/27 (C0FRT41)2.96%
B 01/28/27 (BXW2BR8)2.96%
B 02/04/27 (BXL2GW9)2.53%
B 01/14/27 (BTMT4S3)2.24%
B 01/19/27 (C0C06G4)2.11%
B 02/02/27 (C0JZ264)1.06%
B 02/09/27 (C05DTR2)1.05%

Only in FLDB

410 securities, 98.9% of FLDB by weight

Ustn 4.125% 01/31/277.95%
Ustn 3.625% 08/31/277.24%
Ustn 3.375% 12/31/275.53%
Ustn 3.75% 04/30/284.66%
Ustn 4.125% 08/31/282.96%
Ustn 3.5% 10/31/271.43%
Ust Bills 0% 04/01/271.36%
Wellsfargo 3.584%/VAR 05/22/280.37%
Bk Nova Scot 4.578%/VAR 6/5/290.35%
Boa Corp 3.824%/VAR 01/20/280.34%
MAGNE26-23A AR2 TSFR3M+99 1/350.34%
Flat 25-1A A1R TSFR3M+108 7/360.34%
Hsbc Hld PLC 2.251%/VAR 11/270.34%
Usbankna Frn SOFR+91 05/15/280.33%
Mitsubishi Uf 5.017%/VAR 7/280.33%
Neub 22-50A AR2 Var 07/360.33%
Tor Dom Bk 4.568% 12/17/260.33%
Wellsfargo 4.9%/VAR 01/24/280.33%
Cooperati 4.655%/VAR 8/28 144A0.33%
Flat 23-1A Ar TSFR3M+124 04/360.33%
Jpmc Co 5.04%/VAR 01/23/280.33%
Citigroup 3.887%/VAR 01/10/280.33%
Jpmc Co 2.947%/VAR 02/24/280.32%
Merce Frn SOFR+66 8/04/28 144A0.32%
Nbc 4.95%/VAR 02/01/280.32%
Gsinc 4.148%/VAR 01/21/290.32%
Lloyd Bk Grp 5.462%/VAR 1/5/280.32%
Jnppk 1A Arr TSFR3M+108 7/360.31%
Kbc Grpe 5.796%/VAR 01/29 144A0.31%
Toyota Credit Frn SOFR+43 6/270.31%
Boa Corp 4.948%/VAR 07/22/280.31%
Jpmc Co 3.54%/VAR 05/01/280.31%
Barclaysplc 2.279%/VAR 11/270.31%
Dansk 4.298%/VAR 04/01/28 144A0.30%
Dbsw 2.552%/VAR 01/07/280.30%
Wellsfargo 3.526%/VAR 03/24/280.30%
Bmont Frn SOFRINDX+75 09/22/280.30%
Bank 2018-BN11 A2 3.784% 03/610.30%
Natwest Grp 5.583%/VAR 3/1/280.30%
Mstdw 4.21%/VAR 04/20/280.30%
Wellsfargo 2.393%/VAR 06/02/280.30%
Bank New York SOFRINDX+68 6/280.29%
Bk Nova Scot 5.407%/VAR 10/290.29%
T-Mobile Usa 3.75% 04/15/270.29%
Augusta Spinco 4.321% 09/23/270.29%
Bk Nova Scot Frn SOFR+76 9/280.29%
Wellsfargo 5.707%/VAR 04/22/280.29%
Morgan Sta 4.952%/VAR 1/14/280.29%
Citigroup Frn SOFR+111.43 5/280.29%
Bk Nova Scot 4.404%/VAR 9/8/280.29%

Weight gaps

CLIP and FLDB share no securities.

All 26 CLIP holdings⁠All 335 FLDB 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.

CLIP vs FLDB Cost

Overpaying FLDB vs CLIP

$2,675

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

CLIP 0.07%
$1,480
FLDB 0.20%
$4,155

Amount$10,000

Years30 years

Cost over time

CLIP 0.07%
FLDB 0.20%
Overpaying

Year by year

Year	CLIP	FLDB	Overpaying
10	$128	$365	$237
20	$503	$1,421	$918
30	$1,480	$4,155	$2,675

Expense ratio

0.07%CLIP, cheaper
0.20%FLDB

CLIP0.07%FLDB0.20%

0.03%1.00%

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

CLIP 8th cheapest of 78 funds

FLDB 44th cheapest of 78 funds

CLIP vs FLDB Dividends

Last 12 months to Nov 9, 2026

Yield (12M): CLIP 3.72%; FLDB 4.29%, better
Payout (12M): CLIP $3.73; FLDB $2.16
Last payment: CLIP $0.33; FLDB $0.17
Ex-dividend: CLIP Nov 2, 2026; FLDB Oct 29, 2026
Paid on: CLIP Nov 5, 2026; FLDB Nov 2, 2026
Frequency: CLIP Monthly; FLDB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

CLIPMonthly · 41 paymentsAll CLIP payments⁠

FLDBMonthly · 34 paymentsAll FLDB payments⁠

CLIP vs FLDB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CLIP 0.2%FLDB 0.4%since Mar 2024
Return per unit of riskSharpe ratio, 3 years: CLIP −0.51FLDB 0.68since Mar 2024
Worst fallMax drawdown, 5 years: CLIP −0.1%since Jun 2023FLDB −0.4%since Feb 2024
Market sensitivityBeta, 5 years: CLIP 0.01FLDB 0.01; Market = 1

CLIP and FLDB 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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CLIP vs FLDB

In short

Stated mandate

Why people hold it

Worth knowing

How CLIP and FLDB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CLIP

Only in FLDB

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 CLIP and FLDB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CLIP

Only in FLDB

Weight gaps