##  [# SGOV: First Ultra-Short-Term Bond ETF to Surpass $50B in AUM](/sections/news/sgov-first-ultra-short-term-bond-etf-surpass-50b-aum) 

 

# SGOV: First Ultra-Short-Term Bond ETF to Surpass $50B in AUM

 

 

\- Cash-like bond ETFs gain favor as investors stay cautious on rates.  
\- SGOV now holds $50.3 billion in AUM.



 

 

 

 

 [![sumit](/sites/default/files/styles/author_image_icon/public/2023-03/Sumit_0.png?itok=SO-7S5SH "sumit")](/authors/sumit-roy) 

[By Sumit Roy ](/authors/sumit-roy)

 Jul 07, 2025

 Edited by: David Tony

 

 

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The [**iShares 0-3 Month Treasury Bond ETF (SGOV)**](/sgov) has reached a major milestone, becoming the first ultra-short-term bond ETF to eclipse $50 billion in assets under management.

SGOV now holds $50.3 billion in AUM after pulling in $20.5 billion of inflows year to date, the second-highest total of any U.S.-listed ETF in 2025.

That makes SGOV the fifth-largest fixed-income ETF overall, behind only the [**Vanguard Total Bond Market ETF (BND)**](/bnd), the [**iShares Core U.S. Aggregate Bond ETF (AGG)**](/agg), the [**Vanguard Total International Bond ETF (BNDX)**](/bndx) and the [**Vanguard Intermediate-Term Corporate Bond ETF (VCIT)**](/vcit), which have between $54.5 billion and $130.8 billion in assets.

## SGOV Assets Surge

SGOV has also leapfrogged the [**iShares 20+ Year Treasury Bond ETF (TLT)**](/tlt), which currently has $47.6 billion in AUM. While SGOV focuses on the shortest end of the Treasury curve, TLT is positioned at the other extreme, holding long-dated U.S. government bonds and carrying significant [interest-rate sensitivity](https://www.pimco.com/us/en/resources/education/bonds-103-considering-the-risks-of-bond-investing).

TLT saw a surge of popularity in 2023 and early 2024, with assets peaking at $64.5 billion as investors bet on falling interest rates following the fastest Fed hiking cycle in decades. But with rates remaining elevated, appetite for long-duration exposure has faded. TLT has seen $2.9 billion in outflows so far this year.

SGOV isn’t alone in benefiting from investors’ growing preference for cash-like ETFs with minimal duration risk. The [**SPDR Bloomberg 1-3 Month T-Bill ETF (BIL)**](/bil) has also attracted $5.8 billion in inflows year to date and now holds $41.9 billion.

However, BIL has fallen behind SGOV in the ultra-short-term category after leading earlier this year. Its AUM has dropped from a peak of $49.6 billion due to significant outflows in recent months.

The reason could have to do with cost and performance. BIL has a higher expense ratio than SGOV (0.14% vs. 0.09%) and, since SGOV’s launch in May 2020, it has outperformed BIL by 78 basis points (14.97% vs. 14.19%).

With investors still wary of interest-rate volatility and content to park cash in short-term vehicles, SGOV’s rapid rise may not be over yet.

 
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 [ Sumit Roy Senior ETF Analyst ](/authors/sumit-roy) 

 

 

  Sumit Roy is the senior ETF analyst for etf.com and author of (Don't) Invest Like a Pro. He creates a variety of content for the platform, including…   [View Bio](/authors/sumit-roy)

 



 

 


 Related Topics  [Fixed Income](http://www.etf.com/topics/fixed-income) 

 [Bond](http://www.etf.com/topics/bond) 

 [Ultra-Short Term](http://www.etf.com/topics/ultra-short-term) 

 [Treasury Bond ETFs](http://www.etf.com/topics/treasury-bond-etfs)