##  [# Another Single Issue Treasury ETF Debuts ](/sections/daily-etf-watch/another-single-issue-treasury-etf-debuts) 

 

# Another Single Issue Treasury ETF Debuts 

 

 

 The new fund targets the six-month Treasury bill.



 

 

 

 

 [![HeatherBell_green_bg](/sites/default/files/styles/author_image_icon/public/2023-03/heather2.png?itok=5J9vBlda)](/contributors/heather-bell) 

[By Heather Bell](/contributors/heather-bell)

 Mar 07, 2023

 Edited by: Heather Bell

 

 

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Today, F/m Investments added a fifth fund to its suite of exchange-traded funds that offer focused exposure to different points on the Treasury yield curve. The [US Treasury 6 Month Bill ETF (XBIL)](https://www.sec.gov/Archives/edgar/data/831114/000139834422014885/fp0078403_485bpos-ixbrl.htm) invests in six-month Treasury bills.

XBIL, like the other funds in F/m’s lineup, has an expense ratio of 0.15% and lists on the Nasdaq.

Similar to the other F/m ETFs, XBIL holds the on-the-run (or most recently issued) Treasury security in its designated tenor for a month before rolling into the next new issue. All of the funds in the family track ICE BofA-branded indexes.

While there are other funds that hold six-month Treasury bills, they generally hold a wide range of securities with a range of different maturity dates rather than strictly on-the-run issues. The ETFs in the F/m lineup offer targeted exposures.

“With this launch of XBIL, we’re responding to investor demand for simplified access to the highest-yielding U.S. Treasury security today, with six-month Treasuries yielding over 5%,” said F/m President and CIO Alexander Morris.

“Investors want an easy, tax-efficient way to obtain yields that have not been seen in a low-risk, liquid investment in a very long time,” he added.

In a press release, the firm notes that the products in its lineup offer simplified access to Treasury securities, regular monthly dividends and a relatively small transaction price compared to the actual bonds, as well as greater liquidity, tax efficiency and an associated derivative market.

According to Morris, the funds provide all investors with a solution that was previously most easily accessed by institutions.

F/m entered the ETF market in August 2022 and has a total of nearly $715 million in assets among its current offerings. The largest fund in its family is the [**US Treasury 3 Month Bill ETF (TBIL)**](https://www.etf.com/tbil), with $355.3 million in assets.

Beyond TBIL and XBIL, it has products offering exposure to the 12-month bill, the two-year note and the 10-year note. The issuer has another five ETFs in registration for its U.S. Benchmark Series covering the three-, five-and seven-year Treasury notes as well as the 20- and 30-year Treasury bonds.

*Contact Heather Bell at* [*heather.bell@etf.com*](mailto:heather.bell@etf.com)



 

 

 [ Heather Bell ](/contributors/heather-bell) 

 

 

  Heather Bell is a former managing editor of etf.com. She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a…   [View Bio](/contributors/heather-bell)

 



 

 


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

 [Treasury](http://www.etf.com/topics/treasury) 

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

 [Investment Grade Bonds](http://www.etf.com/topics/investment-grade-bonds)