OBIL vs XHLF: Grades, Fees and Holdings Compared

US Treasury 12 Month Bill ETF

OBILBNasdaq

BondBloxx Bloomberg Six Month Target Duration US Treasury ETF

XHLFANYSE Arca

Overlap

No data

Expense ratio

XHLF −0.12pt a year

OBIL0.15%XHLF0.03%

Avg volume · 30D

XHLF 6.4×the volume

OBIL47.5KXHLF304K

3Y return · a year

XHLF +0.1pt

OBIL+4.3%XHLF+4.4%

OBIL vs XHLF Performance

Nov 4, 2025 – Nov 4, 2026

+3.3%OBIL+3.6%XHLF

Expense ratio: OBIL 0.15%; XHLF 0.03%, better
Fund size: OBIL $337M; XHLF $2.03B
1Y total return: OBIL +3.3%; XHLF +3.6%, better
Yield (12M): OBIL 3.73%, better; XHLF 3.68%
Holdings: OBIL 2; XHLF 29
Avg volume (30D): OBIL 47.5K sh; XHLF 304K sh, better
NAV per share: OBIL $49.91; XHLF $50.14
52W range

ETF.net Grade

Pillar letters and Scores for OBIL, XHLF, with each pillar’s weight
Pillar	OBIL	XHLF
Cost30% weight	B66	A99Higher
Mission25% weight	A100	A100
Risk15% weight	C40	C44Higher
Tradability15% weight	C46	A78Higher
Holdings10% weight	D35Higher	D32
Durability5% weight	C44	B59Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. OBIL and XHLF 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 ›

XHLF ranks 7th and OBIL 32nd of 78 funds in the Cash & Ultra-Short Income Category.

Rank 5ATBLLInvesco Short Term Treasury ETFScore 80
Rank 7AXHLFBondBloxx Bloomberg Six Month Target Duration US Treasury ETFScore 79
Rank 8ABILState Street SPDR Bloomberg 1-3 Month T-Bill ETFScore 78
Rank 32BNUSBNuveen Ultra Short IncomeScore 63
Rank 32BOBILUS Treasury 12 Month Bill ETFScore 63
Rank 34BCGOVCorgi 0-3 Month T-Bill ETFScore 61

Our read on each fund

ETF.net Research

OBILBUS Treasury 12 Month Bill ETF

XHLFABondBloxx Bloomberg Six Month Target Duration US Treasury ETF

In short

OBIL Most cash-parking ETFs blend a ladder of short bills. OBIL points at one spot on the curve instead: the 12-month Treasury bill. A precision instrument from F/m's benchmark lineup, and it pays monthly.

XHLF Most cash-parking funds pick a maturity bucket. XHLF picks a number: it blends Treasury bills to an average duration of about six months, resets to that target monthly, and charges three basis points to do it.

Stated mandate

OBIL The fund seeks investment results that correspond to the performance of its stated underlying benchmark.

XHLF The Fund seeks to track the investment results of an index composed of U.S. Treasury securities.

Why people hold it

OBIL Aims at a single point on the Treasury curve, the 12-month bill, rather than a blended basket of maturities. Rare precision in a category built on averages.
Has tracked its stated benchmark closely, which is the whole job for a fund like this.
Distributes monthly, so income arrives on a steady cadence rather than in quarterly lumps.
Live since 2022 and has gathered a few hundred million dollars, real staying power for a niche single-maturity idea.

XHLF Costs 0.03% a year, against a typical short-Treasury peer near 0.14%. In cash-like funds, where returns come from bills everyone owns, fee is the main lever.
Tracks an index built to hold an average duration of roughly six months, rebalanced monthly, so exposure stays anchored instead of drifting as bills mature.bondbloxxetf.com
Sits in the gap between 0-3 month bill funds and one-year funds. Its sibling XONE targets a one-year duration at the same 0.03%, so the two can be mixed to dial in duration.
US Treasury bills only, no credit bets hiding in the portfolio, run in a multi-billion-dollar fund that has stayed close to its index.

Worth knowing

OBIL At 0.15%, it costs more than the T-bill cohort's typical fund and well more than the cheapest rivals, XONE at 0.03% and VBIL at 0.06%.
Trades thinly next to cohort giants like BIL, which can mean wider spreads on the way in and out.
A 12-month bill carries more rate sensitivity than the 0-3 month peers (VBIL, CLIP) it sits beside in this category.

XHLF Six months of duration is not zero. Prices move a touch more when yields shift than in 0-3 month bill funds such as BIL or CLIP.
Income rides whatever Treasury bills happen to pay, and distributions arrive on an irregular rhythm rather than a fixed amount or schedule.
Volume is moderate next to the largest bill ETFs, so spreads can be a bit wider, which matters more on big tickets than small ones.

Full OBIL profile⁠

Full XHLF profile⁠

OBIL vs XHLF Holdings

How OBIL and XHLF differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Asset classFixed Income100%
Countryby domicile100%

Sector

No Sector split for OBIL and XHLF.

Country, concentration and asset class

Country by domicile

Country weights in OBIL and XHLF, widest gap first
Country	More in OBILMore in XHLF	Gap	OBIL	XHLF
United States		Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

OBIL100.0%
XHLF79.3%

Securities held

OBIL1
XHLF29

Asset class

OBIL: Fixed Income
XHLF: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. OBIL holds 1 securities, XHLF 29.

All 2 OBIL holdings⁠All XHLF 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.

OBIL vs XHLF Cost

Overpaying OBIL vs XHLF

$2,499

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

OBIL 0.15%
$3,137
XHLF 0.03%
$638

Amount$10,000

Years30 years

Cost over time

OBIL 0.15%
XHLF 0.03%
Overpaying

Year by year

Year	OBIL	XHLF	Overpaying
10	$274	$55	$219
20	$1,071	$216	$855
30	$3,137	$638	$2,499

Expense ratio

0.15%OBIL
0.03%XHLF, cheaper

XHLF0.03%OBIL0.15%

0.03%1.00%

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

XHLF cheapest of 78 funds

OBIL 23rd cheapest of 78 funds

OBIL vs XHLF Dividends

Last 12 months to Nov 4, 2026

Yield (12M): OBIL 3.73%, better; XHLF 3.68%
Payout (12M): OBIL $1.86; XHLF $1.85
Last payment: OBIL $0.18; XHLF $0.16
Ex-dividend: OBIL Oct 27, 2026; XHLF Nov 2, 2026
Paid on: OBIL Oct 28, 2026; XHLF Pays Nov 5, 2026
Frequency: OBIL Monthly; XHLF Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

OBILMonthly · 46 paymentsAll OBIL payments⁠

XHLFMonthly · 46 paymentsAll XHLF payments⁠

OBIL vs XHLF Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: OBIL 0.7%XHLF 0.3%, better
Return per unit of riskSharpe ratio, 3 years: OBIL −0.25, betterXHLF −0.50
Worst fallMax drawdown, 5 years: OBIL −0.3%since Nov 2022XHLF −0.1%since Sep 2022
Market sensitivityBeta, 5 years: OBIL 0.07XHLF 0.03; Market = 1

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