TBLL vs XCSH: Grades, Fees and Holdings Compared

Invesco Short Term Treasury ETF

TBLLANYSE Arca

XFUNDS 1-3 Month BOX ETF

XCSH—Nasdaq

Overlap

0.0%by weight

Expense ratio

TBLL −0.10pt a year

TBLL0.08%XCSH0.18%

Avg volume · 30D

TBLL 99.3×the volume

TBLL313KXCSH3.15K

TBLL vs XCSH Performance

Oct 2, 2026 – Nov 2, 2026

+0.3%TBLL+0.2%XCSH

Expense ratio: TBLL 0.08%, better; XCSH 0.18%
Fund size: TBLL $2.9B; XCSH $12M
1Y total return: TBLL +3.6%; XCSH No data
Yield (12M): TBLL 3.59%; XCSH No data
Holdings: TBLL 102; XCSH 4
Avg volume (30D): TBLL 313K sh, better; XCSH 3.15K sh
NAV per share: TBLL $105.62; XCSH $100.77
52W range

ETF.net Grade

—XCSHNot yet graded

Pillar letters and Scores for TBLL, XCSH, with each pillar’s weight
Pillar	TBLL	XCSH
Cost30% weight	A89	Not scored
Mission25% weight	A100	Not scored
Risk15% weight	C44	Not scored
Tradability15% weight	A79	Not scored
Holdings10% weight	B66	Not scored
Durability5% weight	A80	Not scored

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Cash & Ultra-Short Income⁠

Category · 78 funds

See all 78 ›

TBLL ranks 5th of 78 funds in the Cash & Ultra-Short Income Category.

Rank 3AVUSBVanguard Ultra-Short Bond ETFScore 81
Rank 5ATBLLInvesco Short Term Treasury ETFScore 80
Rank 5AXHLFBondBloxx Bloomberg Six Month Target Duration US Treasury ETFScore 80
XCSHNot yet graded

Our read on each fund

ETF.net Research

TBLLAInvesco Short Term Treasury ETF

XCSH—XFUNDS 1-3 Month BOX ETF

In short

TBLL The bill fund that stretches to a full year. TBLL owns U.S. Treasuries maturing in one year or less and charges 0.08%, well under the typical fund in its 0-1 year Treasury group.

XCSH No data

Stated mandate

TBLL The fund invests primarily in U.S. Treasury obligations with maturities of one year or less and seeks exposure to the ICE U.S. Treasury Short Bond Index.

XCSH No data

Why people hold it

TBLL Charges 0.08% a year against a 0.14% median for its 0-1 year Treasury cohort, and undercuts BIL, the 1-3 month bill fund at 0.14%.
Fishes the entire under-one-year curve, about 90 Treasury positions, instead of camping in 1-3 month paper like much of the peer shelf.
Live since 2017 and a multi-billion-dollar fund, with index tracking among the tighter implementations in its 17-fund group.
Distributions land monthly, and the portfolio is Treasury obligations only, so no corporate credit rides along.

XCSH No data

Worth knowing

TBLL Not the cheapest seat in the row: XONE runs 0.03% and VBIL 0.06%, so the cost gap is a few basis points.
Reaching out to one-year maturities carries slightly more interest-rate sensitivity than a strict 1-3 month bill portfolio.
Moderately traded rather than the volume leader of its category, so spreads deserve a look on larger orders.

XCSH No data

Full TBLL profile⁠

Full XCSH profile⁠

TBLL vs XCSH Holdings

How TBLL and XCSH differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of TBLL and 0.0% of XCSH.

Level by level

Asset classFixed Income, Equity0.0%
Holdings0 in both0.0%
Countryby domicile99.5%

Sector

No Sector split for TBLL and XCSH.

Country, concentration and asset class

Country by domicile

Country weights in TBLL and XCSH, widest gap first
Country	More in TBLLMore in XCSH	TBLL	XCSH
United States	TBLL +0.5 points	100.0%	99.5%
Switzerland	XCSH +0.3 points	0.0%	0.3%
China	XCSH +0.1 points	0.0%	0.1%
Mexico	XCSH +0.1 points	0.0%	0.1%
Ireland	Same weight	0.0%	0.0%
United Kingdom	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

TBLL24.2%
XCSH100.0%

Securities held

TBLL100
XCSH3

Asset class

TBLL: Fixed Income
XCSH: Equity

Holdings

Only in TBLL100
In both0
Only in XCSH3

Only in TBLL

100 securities, 99.6% of TBLL by weight

United States Treasury Bill 01/21/20273.22%
United States Treasury Bill 12/03/20263.12%
United States Treasury Bill 12/10/20263.11%
United States Treasury Bill 12/17/20262.33%
United States Treasury Bill 01/28/20272.18%
United States Treasury Bill 01/14/20272.18%
United States Treasury Note/Bond 1.50% 01/31/20272.14%
United States Treasury Bill 12/24/20262.06%
United States Treasury Bill 03/18/20271.99%
United States Treasury Bill 12/22/20261.89%
United States Treasury Bill 12/08/20261.83%
United States Treasury Bill 02/04/20271.82%
United States Treasury Note/Bond 2.75% 07/31/20271.77%
United States Treasury Bill 04/15/20271.74%
United States Treasury Bill 01/07/20271.73%
United States Treasury Bill 12/01/20261.73%
United States Treasury Bill 02/11/20271.71%
United States Treasury Bill 02/25/20271.71%
United States Treasury Bill 03/04/20271.71%
United States Treasury Bill 03/11/20271.71%
United States Treasury Bill 03/25/20271.70%
United States Treasury Note/Bond 4.25% 12/31/20261.62%
United States Treasury Note/Bond 4.13% 02/15/20271.62%
United States Treasury Note/Bond 0.50% 05/31/20271.58%
United States Treasury Bill 01/12/20271.53%
United States Treasury Bill 01/19/20271.52%
United States Treasury Bill 01/26/20271.52%
United States Treasury Note/Bond 3.75% 04/30/20271.45%
United States Treasury Bill 12/15/20261.44%
United States Treasury Note/Bond 3.88% 03/31/20271.41%
United States Treasury Note/Bond 1.75% 12/31/20261.40%
United States Treasury Note/Bond 3.13% 08/31/20271.39%
United States Treasury Note/Bond 4.25% 03/15/20271.39%
United States Treasury Note/Bond 3.88% 05/31/20271.36%
United States Treasury Note/Bond 2.75% 04/30/20271.34%
United States Treasury Bill 02/18/20271.34%
United States Treasury Note/Bond 3.75% 08/15/20271.27%
United States Treasury Note/Bond 1.88% 02/28/20271.22%
United States Treasury Note/Bond 4.38% 12/15/20261.20%
United States Treasury Bill 04/22/20271.20%
United States Treasury Bill 04/29/20271.20%
United States Treasury Note/Bond 4.63% 06/15/20271.17%
United States Treasury Bill 02/23/20271.10%
United States Treasury Note/Bond 4.50% 05/15/20271.09%
United States Treasury Note/Bond 3.88% 07/31/20271.06%
United States Treasury Bill 12/29/20261.06%
United States Treasury Bill 02/09/20271.03%
United States Treasury Bill 02/16/20271.03%
United States Treasury Bill 04/01/20271.03%
United States Treasury Bill 04/08/20271.03%

Only in XCSH

3 securities, 100% of XCSH by weight

Spy 01/15/2027 100.01 C66.04%
Spy 01/15/2027 1100.01 P33.87%
First American Government Obligations Fund 12/01/20310.09%

Weight gaps

TBLL and XCSH share no securities.

All 88 TBLL holdings⁠All XCSH 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.

TBLL vs XCSH Cost

Overpaying XCSH vs TBLL

$2,060

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

TBLL 0.08%
$1,689
XCSH 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

TBLL 0.08%
XCSH 0.18%
Overpaying

Year by year

Year	TBLL	XCSH	Overpaying
10	$147	$328	$181
20	$575	$1,281	$706
30	$1,689	$3,749	$2,060

Expense ratio

0.08%TBLL, cheaper
0.18%XCSH

TBLL0.08%XCSH0.18%

0.03%1.00%

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

TBLL 10th cheapest of 78 funds

XCSH 36th cheapest of 78 funds

TBLL vs XCSH Dividends

Last 12 months to Nov 2, 2026

Yield (12M): TBLL 3.59%; XCSH No data
Payout (12M): TBLL $3.79; XCSH None
Last payment: TBLL $0.34; XCSH No data
Ex-dividend: TBLL Oct 19, 2026; XCSH No data
Paid on: TBLL Oct 23, 2026; XCSH No data
Frequency: TBLL Monthly; XCSH No data

Distribution history

Per share, 2023 to 2026, same scale for both

TBLLMonthly · 46 paymentsAll TBLL payments⁠

XCSHAll XCSH payments⁠

No distribution history available.

TBLL vs XCSH Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: TBLL 0.3%XCSH No data
Return per unit of riskSharpe ratio, 3 years: TBLL −0.66XCSH No data
Worst fallMax drawdown, 5 years: TBLL −0.4%XCSH No data
Market sensitivityBeta, 5 years: TBLL 0.01XCSH 0.00; Market = 1

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