What is TBIL?

TBIL is a passively managed, single-bond fund that invests in the most recently issued, “on-the-run,” 3-month US Treasury Bill. The fund is designed for those specifically required to track the 3-month tenor on the yield curve.

PERFORMANCE [as of 11/29/22] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
TBIL 0.36% 0.79% -- -- -- -- --
TBIL (NAV) 0.34% 0.75% -- -- -- -- --
Barclays U.S. Short Treasury Index 0.31% 0.53% 0.59% 0.57% 0.57% 1.20% 0.76%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

TBIL Factset Analytics Insight

TBIL is part of the first single-bond ETFs suite. The targeted holding makes this ETF very different from other ETFs holding a basket of 3-month Treasury Bills. This is a tool used in portfolio management. The fund tracks an index that holds just the “on-the-run” 3-month US Treasury Bill, which is the most recently issued and most liquid 3-month Treasury Bill. To qualify for selection, an issue must have settled on or before the rebalancing date. At the beginning of the month, the underlying index purchases a single issue which will be held for a full month. At each month-end rebalancing, the underlying issue is sold and rolled into a newly selected issue, given that there has been a new public sale or auction by the US Government for 3-month Treasury Bills. This roll transition occurs on one day, each month. The fund pays transaction costs when it buys and sells securities. These costs are not reflected in the annual fund operating expenses and should be expected. In addition, the fund will experience very high turnover. This may result in higher taxes, as compared to other ETFs, if the shares are held in a taxable account.

TBIL Summary Data

08/09/22
0.15%
$171.65M
ICE BofA US Treasury Bill 3 Month Index
Barclays U.S. Short Treasury Index
Open-Ended Fund

Peers

Barclays U.S. Short Treasury Index
BIL

Fund Flows

+$0.01B 5 Days
+$0.07B 30 Days
+$0.17B 90 Days

TBIL Portfolio Data

0.23
--
3.98%
N/A
--

TBIL Index Data

ICE BofA US Treasury Bill 3 Month Index
Single Asset
Single Asset
Barclays U.S. Short Treasury Index

TBIL Portfolio Management

0.15%
--
--
--

TBIL Tax Exposures

20.00% / 39.60%
--
Ordinary income
No

TBIL Fund Structure

Open-Ended Fund
No
No
-- / --
N/A
N/A
Low
None

Factset Analytics Block Liquidity

As of 11/30/22

This measurement shows how easy it is to trade a $1 million USD block of TBIL. TBIL is rated a N/A out of 5.

TBIL Tradability

108,761
$5.43M
75,934
$3.79M
0.02%
$0.01
0.04%
0.10% / -0.01%
None
100.00%
10,000
7.59
--
--
37
$49.91
N/A

TBIL Sector/Industry Breakdown

TBIL Segment
Benchmark
99.96% --
0.04% --

TBIL Top 10 Holdings

85.13%
9.88%
4.95%
0.04%
100.00%

TBIL Performance Statistics

--
--
--
--
--

TBIL Top 5 Countries

TBIL Segment
Benchmark
100.00% --

TBIL Top 5 Currencies

TBIL Segment
Benchmark
100.00% --

TBIL Avg Life Maturity Distribution

100.00%
--
--
--
--
--
--
--
--

TBIL OAS Breakdown

100.00%
--
--
--
--
--
--
--
--
--
--

TBIL Holdings Statistics

0.24 years
0.23
3.98%
0.23
--
--
0.00%

Options Strategies for Outcome Investing

A collar strategy is a protective option strategy constructed by writing a call and buying a put with the same expiration date while being long the underlying security.