CLIP vs TRSY: Grades, Fees and Holdings Compared

Global X 1-3 Month T-Bill ETF

CLIPANYSE Arca

Xtrackers US 0-1 Year Treasury ETF

TRSYACboe

Overlap

0.0%by weight

Expense ratio

TRSY −0.01pt a year

CLIP0.07%TRSY0.06%

Avg volume · 30D

CLIP 8.6×the volume

CLIP285KTRSY33.2K

CLIP vs TRSY Performance

Oct 31, 2025 – Nov 2, 2026

+3.8%CLIP+3.6%TRSY

Expense ratio: CLIP 0.07%; TRSY 0.06%, better
Fund size: CLIP $2.35B; TRSY $103M
1Y total return: CLIP +3.8%, better; TRSY +3.6%
Yield (12M): CLIP 4.06%, better; TRSY 3.75%
Holdings: CLIP 28; TRSY 89
Avg volume (30D): CLIP 285K sh, better; TRSY 33.2K sh
NAV per share: CLIP $100.38; TRSY $30.22
52W range

ETF.net Grade

Pillar letters and Scores for CLIP, TRSY, with each pillar’s weight
Pillar	CLIP	TRSY
Cost30% weight	A89	A95Higher
Mission25% weight	A100	A100
Risk15% weight	C47	C48Higher
Tradability15% weight	A79Higher	B56
Holdings10% weight	Not scored	B61
Durability5% weight	B68Higher	D34

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. CLIP and TRSY 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 TRSY 13th 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 13ADUSBDimensional Ultrashort Fixed Income ETFScore 76
Rank 13ATRSYXtrackers US 0-1 Year Treasury ETFScore 76
Rank 15ABILSState Street SPDR Bloomberg 3-12 Month T-Bill ETFScore 75

Our read on each fund

ETF.net Research

CLIPAGlobal X 1-3 Month T-Bill ETF

TRSYAXtrackers US 0-1 Year Treasury 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.

TRSY 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.

TRSY 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.

TRSY 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.

TRSY No data

Full CLIP profile⁠

Full TRSY profile⁠

CLIP vs TRSY Holdings

How CLIP and TRSY differ

Overlap by weight

0.0%

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

Level by level

Asset classCash, Fixed Income0.0%
Holdings0 in both0.0%
Countryby domicile100%

Sector

No Sector split for CLIP and TRSY.

Country, concentration and asset class

Country by domicile

Country weights in CLIP and TRSY, widest gap first
Country	More in CLIPMore in TRSY	CLIP	TRSY
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

CLIP55.7%
TRSY28.5%

Securities held

CLIP27
TRSY88

Asset class

CLIP: Cash
TRSY: Fixed Income

Holdings

Only in CLIP27
In both0
Only in TRSY88

Only in CLIP

27 securities, 100% of CLIP by weight

B 12/03/26 (BW61LR4)7.07%
B 12/24/26 (BSSBJ36)6.41%
B 12/17/26 (BWRXMP4)6.38%
B 12/01/26 (BRJJ0F1)6.17%
B 01/07/27 (BTCLH46)5.72%
B 12/31/26 (BNVVYP5)5.08%
B 11/03/26 (BQGF9D6)5.03%
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 01/19/27 (C0C06G4)2.11%
B 01/14/27 (BTMT4S3)2.04%
B 01/05/27 (BQZCL87)1.06%
B 02/02/27 (C0JZ264)1.06%
B 02/09/27 (C05DTR2)1.05%

Only in TRSY

88 securities, 99.6% of TRSY by weight

United States Treasury Bills 0.00 12/03/20263.78%
United States Treasury Bills 0.00 12/10/20263.78%
United States Treasury 0.0 01/21/20273.14%
United States Treasury Bills 0.00 12/24/20263.02%
United States Treasury Bills 0.00 12/22/20262.51%
United States Treasury Bills 0 01/07/20272.48%
United States Treasury Bills 0 01/14/20272.48%
United States Treasury Bills 0 01/28/20272.47%
United States Treasury Bills 0.00 12/15/20262.43%
United States Treasury Bills 0 12/31/20262.43%
United States Treasury Bills 0.00 12/08/20262.43%
United States Treasury Bills 0.00 12/17/20262.41%
United States Treasury Bills 0.00 12/01/20262.29%
United States Treasury Bills 0.00 03/18/20271.80%
United States Treasury 0.0 02/18/20271.75%
United States Treasury Bills 0.00 04/15/20271.75%
United States Treasury Bill 04/08/20271.15%
United States Treasury Bill 04/22/20271.15%
United States Treasury Bill 04/29/20271.15%
United States Treasury Bill 04/01/20271.15%
United States Treasury Bills 0.00 2/25/20271.13%
United States Treasury Bills 0.00 03/04/20271.13%
United States Treasury Bills 0.00 03/25/20271.12%
United States Treasury Bills 0.00 02/11/20271.11%
United States Treasury Bills 0.00 03/11/20271.10%
United States Treasury Bills 0.00 02/04/20271.08%
United States Treasury Bill 02/09/20271.06%
United States Treasury Bill 02/16/20271.06%
United States Treasury Bill 02/23/20271.06%
United States Treasury Note 1.50 01/31/20271.05%
United States Treasury Bills 0.00 12/29/20261.02%
United States Treasury Bills 0.00 01/05/20271.02%
United States Treasury Bills 0.00 01/26/20271.02%
United States Treasury Bill 02/02/20271.01%
United States Treasury Bills 0.00 01/19/20270.99%
US 3.5000% T Sep 20270.99%
United States Treasury 4.25 12/31/20260.99%
United States Treasury 3.875 03/31/20270.98%
United States Treasury 3.75 06/30/20270.98%
United States Treasury Bills 0.00 01/12/20270.98%
United States Treasury 3.75 04/30/20270.98%
United States Treasury 4.125 01/02/19000.97%
Us 3.8750% T Jul 20270.97%
United States Treasury Bond 3.625 08/31/20270.95%
US 3.5000% T Oct 20270.94%
United States Treasury Note 3.875 5/31/20270.90%
United States Treasury 4.125 01/31/20270.89%
United States Treasury 3.375 09/15/20270.83%
United States Treasury 4.5 04/15/20270.83%
United States Treasury 4.625 06/15/20270.81%

Weight gaps

CLIP and TRSY share no securities.

All 27 CLIP holdings⁠All 101 TRSY 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 TRSY Cost

Overpaying CLIP vs TRSY

$210

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

CLIP 0.07%
$1,480
TRSY 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

CLIP 0.07%
TRSY 0.06%
Overpaying

Year by year

Year	CLIP	TRSY	Overpaying
10	$128	$110	$18
20	$503	$432	$71
30	$1,480	$1,270	$210

Expense ratio

0.07%CLIP
0.06%TRSY, cheaper

TRSY0.06%CLIP0.07%

0.03%1.00%

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

TRSY 6th cheapest of 78 funds

CLIP 8th cheapest of 78 funds

CLIP vs TRSY Dividends

Last 12 months to Nov 2, 2026

Yield (12M): CLIP 4.06%, better; TRSY 3.75%
Payout (12M): CLIP $4.06; TRSY $1.13
Last payment: CLIP $0.33; TRSY $0.10
Ex-dividend: CLIP Nov 2, 2026; TRSY Nov 2, 2026
Paid on: CLIP Pays Nov 5, 2026; TRSY Pays Nov 9, 2026
Frequency: CLIP Monthly; TRSY Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

CLIPMonthly · 41 paymentsAll CLIP payments⁠

TRSYMonthly · 24 paymentsAll TRSY payments⁠

CLIP vs TRSY 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%TRSY 0.2%since Nov 2024
Return per unit of riskSharpe ratio, 3 years: CLIP −0.51TRSY −0.48since Nov 2024
Worst fallMax drawdown, 5 years: CLIP −0.1%since Jun 2023TRSY −0.8%since Oct 2024
Market sensitivityBeta, 5 years: CLIP 0.01TRSY 0.02; Market = 1

CLIP and TRSY 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 TRSY

In short

Stated mandate

Why people hold it

Worth knowing

How CLIP and TRSY differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CLIP

Only in TRSY

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 TRSY differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CLIP

Only in TRSY

Weight gaps