CLIP vs FUSD: Grades, Fees and Holdings Compared

Global X 1-3 Month T-Bill ETF

CLIPANYSE Arca

Federated Hermes Ultrashort Bond ETF

FUSDDCboe

Overlap

0.0%by weight

Expense ratio

CLIP −0.11pt a year

CLIP0.07%FUSD0.18%

Avg volume · 30D

CLIP 170.2×the volume

CLIP291KFUSD1.71K

CLIP vs FUSD Performance

Aug 4, 2026 – Nov 4, 2026

+1.0%CLIP+887290.0%FUSD

Expense ratio: CLIP 0.07%, better; FUSD 0.18%
Fund size: CLIP $2.35B; FUSD $36M
1Y total return: CLIP +3.8%; FUSD No data
Yield (12M): CLIP 3.73%; FUSD No data
Holdings: CLIP 28; FUSD 145
Avg volume (30D): CLIP 291K sh, better; FUSD 1.71K sh
NAV per share: CLIP $100.08; FUSD $24.86
52W range

ETF.net Grade

Pillar letters and Scores for CLIP, FUSD, with each pillar’s weight
Pillar	CLIP	FUSD
Cost30% weight	A89Higher	C54
Mission25% weight	A100Higher	F20
Risk15% weight	C47	B60Higher
Tradability15% weight	A79Higher	F2
Holdings10% weight	Not scored	B69
Durability5% weight	B68Higher	F13

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. CLIP and FUSD 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 FUSD 69th 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 82
Rank 3AVBILVanguard 0-3 Month Treasury Bill ETFScore 81
Rank 69DBAMUBrookstone Ultra-Short Bond ETFScore 37
Rank 69DFUSDFederated Hermes Ultrashort Bond ETFScore 37
Rank 69DSLWSSLW Short Duration Income ETFScore 37

Our read on each fund

ETF.net Research

CLIPAGlobal X 1-3 Month T-Bill ETF

FUSDDFederated Hermes Ultrashort 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.

FUSD No data

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.

FUSD No data

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.

FUSD No data

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.

FUSD No data

Full CLIP profile⁠

Full FUSD profile⁠

CLIP vs FUSD Holdings

How CLIP and FUSD differ

Overlap by weight

0.0%

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

Level by level

Asset classCash, Equity0.0%
Countryby domicile0.0%
Holdings0 in both0.0%
Sector3 Sectors3.6%

Sector

Sector weights in CLIP and FUSD, widest gap first
Sector	Gap	CLIP	FUSD
Government	CLIP +96.4 points	100.0%	3.6%
Securitized	FUSD +48.7 points	0.0%	48.7%
Corporate	FUSD +47.7 points	0.0%	47.7%

Country, concentration and asset class

Country by domicile

Country weights in CLIP and FUSD, widest gap first
Country	More in CLIPMore in FUSD	Gap	CLIP	FUSD
United States		CLIP +100.0 points	100.0%	0.0%
Greece		FUSD +100.0 points	0.0%	100.0%

Outside the US: FUSD 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

CLIP55.8%
FUSD16.6%

Securities held

CLIP27
FUSD143

Asset class

CLIP: Cash
FUSD: Equity

Holdings

Only in CLIP27
In both0
Only in FUSD143

Only in CLIP

27 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 12/31/26 (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 12/08/26 (BX7WM14)4.01%
B 11/12/26 (BT9R101)3.99%
B 11/05/26 (BNZJKH9)3.96%
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 01/05/27 (BQZCL87)1.06%
B 02/02/27 (C0JZ264)1.06%
B 02/09/27 (C05DTR2)1.05%

Only in FUSD

143 securities, 100% of FUSD by weight

Federated Core Tr Mutual Fund4.52%
Us Treasury N/B 11/27 4.1252.77%
Federated Core Tr Iii Federated Proj+trade Fin Core2.52%
Jw Commercial Mortgage Trust Jw 2026 Mrco A 144A1.39%
Sbna Auto Receivables Trust Sbat 2025 SF1 D 144A1.39%
Sba Communications Corp Sr Unsecured 01/30 4.8751.09%
Dell Equipment Finance Trust Deft 2026 2A D 144A0.98%
American Honda Finance Sr Unsecured 09/28 Var0.98%
Evergreen Credit Card Trust Evgrn 2026 1A C 144A0.98%
Toronto Dominion Bank Sr Unsecured 09/28 Var0.97%
Penske Truck Leasing/Ptl Sr Unsecured 144A 07/29 5.250.97%
Chase Auto Owner Trust Chaot 2023 Aa A4 144A0.95%
General Motors Finl Co Sr Unsecured 04/28 Var0.92%
Fidelity Natl Info Serv Sr Unsecured 03/29 Var0.91%
Government National Mortgage A Gnr 2023 113 Fn0.91%
Freddie Mac Fhr 5386 Fd0.90%
Philip Morris Intl Inc Sr Unsecured 10/28 Var0.89%
Global Payments Inc Sr Unsecured 11/28 4.50.89%
Oracle Corp Sr Unsecured 02/29 Var0.88%
Hca Inc Company Guar 03/28 Var0.87%
Freddie Mac Fhr 5565 Fa0.85%
Verizon Master Trust Vzmt 2026 3 C0.84%
Hyundai Auto Receivables Trust Hart 2026 C C0.84%
Commonwealth Bank Aust Sr Unsecured 144A 12/31 Var0.84%
Mitsubishi Ufj Fin Grp Sr Unsecured 09/32 Var0.84%
Navitas Credit Llc Nvtas 2026 1A C 144A0.83%
Credit Agricole SA 144A 09/30 Var0.83%
Penfed Auto Receivables Owner Pnfed 2025 A A3 144A0.81%
Government National Mortgage A Gnr 2025 25 Yh0.80%
Federated Govt Oblg Pr Shares0.79%
The Huntington National Bank Hacln 2026 RVM1 C 144A0.78%
Citigroup Inc Sr Unsecured 02/28 Var0.76%
Sumisho Air Lease Corp Sr Unsecured 144A 03/28 4.40.76%
JPMorgan Chase & Co Sr Unsecured 04/30 Var0.75%
Wells Fargo & Company Sr Unsecured 01/28 Var0.75%
Sumitomo Mitsui Finl Grp Sr Unsecured 07/32 Var0.75%
Daimler Truck Finan Na Company Guar 144A 01/28 Var0.72%
Space Exploration Tech Sr Unsecured 144A 07/31 5.350.71%
Government National Mortgage A Gnr 2024 51 Yf0.71%
Freddie Mac Fhr 5664 Jf0.71%
Pfs Financing Corp. Pfsfc 2025 F A 144A0.70%
National Australia Bank Sr Unsecured 144A 01/30 Var0.70%
Nextgear Floorplan Master Owne Nfmot 2026 2A B 144A0.70%
Mmaf Equipment Finance Llc Mmaf 2023 A A4 144A0.70%
Natwest Group PLC Sr Unsecured 05/29 Var0.70%
Westpac New Zealand Ltd Sr Unsecured 144A 01/31 Var0.70%
Cards Ii Trust CARD2 2026 1A A 144A0.70%
Royal Bank of Canada Sr Unsecured 01/29 Var0.70%
Bank of America Corp Sr Unsecured 04/30 Var0.70%
Hyundai Capital America Sr Unsecured 144A 01/31 Var0.70%

Weight gaps

CLIP and FUSD share no securities.

All 27 CLIP holdings⁠All 139 FUSD 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 FUSD Cost

Overpaying FUSD vs CLIP

$2,269

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

CLIP 0.07%
$1,480
FUSD 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

CLIP 0.07%
FUSD 0.18%
Overpaying

Year by year

Year	CLIP	FUSD	Overpaying
10	$128	$328	$200
20	$503	$1,281	$778
30	$1,480	$3,749	$2,269

Expense ratio

0.07%CLIP, cheaper
0.18%FUSD

CLIP0.07%FUSD0.18%

0.03%1.00%

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

CLIP 8th cheapest of 78 funds

FUSD 36th cheapest of 78 funds

CLIP vs FUSD Dividends

Last 12 months to Nov 4, 2026

Yield (12M): CLIP 3.73%; FUSD No data
Payout (12M): CLIP $3.73; FUSD No data
Last payment: CLIP $0.33; FUSD $0.10
Ex-dividend: CLIP Nov 2, 2026; FUSD Oct 30, 2026
Paid on: CLIP Pays Nov 5, 2026; FUSD Nov 2, 2026
Frequency: CLIP Monthly; FUSD Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

CLIPMonthly · 41 paymentsAll CLIP payments⁠

FUSDMonthly · 4 paymentsAll FUSD payments⁠

CLIP vs FUSD 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%FUSD No data
Return per unit of riskSharpe ratio, 3 years: CLIP −0.51FUSD No data
Worst fallMax drawdown, 5 years: CLIP −0.1%since Jun 2023FUSD No data
Market sensitivityBeta, 5 years: CLIP 0.01FUSD 0.19; Market = 1

CLIP and FUSD 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

Popular comparisons

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CLIP vs FUSD

In short

Stated mandate

Why people hold it

Worth knowing

How CLIP and FUSD differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CLIP

Only in FUSD

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 FUSD differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CLIP

Only in FUSD

Weight gaps