- ISIN
- US74933W4520
- Issuer
- F/m Investments
- Inception Date
- Aug 9, 2022
- Region
- North America (U.S.)
- Category
- Ultrashort Bond
- Leveraged
- 1x (No leverage)
- Index Tracked
- Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $7B
Share Price Chart
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Performance
TBIL Performance Chart
F/m US Treasury 3 Month Bill ETF (TBIL) is up 1.7% since the beginning of the year. TBIL is currently trading at $50 per share.
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Returns By Period
F/m US Treasury 3 Month Bill ETF (TBIL) has returned 1.69% so far this year and 3.91% over the past 12 months.
F/m US Treasury 3 Month Bill ETF
- 1D
- 0.02%
- 1M
- 0.28%
- YTD
- 1.69%
- 6M
- 1.76%
- 1Y
- 3.91%
- 3Y*
- 4.60%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
TBIL Monthly Returns History
Based on dividend-adjusted daily data since Aug 9, 2022, TBIL's average daily return is +0.02%, while the average monthly return is +0.36%. At this rate, an investment would double in approximately 16.1 years.
Historically, 100% of months were positive and 0% were negative. The best month was Aug 2023 with a return of +0.5%, while the worst month was Aug 2022 at 0.1%. The longest winning streak lasted 47 consecutive months, and the longest losing streak was 0 months.
On a daily basis, TBIL closed higher 65% of trading days. The best single day was Oct 3, 2022 with a return of +0.1%, while the worst single day was Oct 4, 2022 at -0.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.31% | 0.24% | 0.32% | 0.27% | 0.32% | 0.22% | 1.69% | ||||||
| 2025 | 0.36% | 0.29% | 0.35% | 0.35% | 0.35% | 0.32% | 0.35% | 0.43% | 0.31% | 0.37% | 0.29% | 0.35% | 4.19% |
| 2024 | 0.38% | 0.44% | 0.40% | 0.42% | 0.50% | 0.38% | 0.44% | 0.46% | 0.45% | 0.37% | 0.36% | 0.43% | 5.15% |
| 2023 | 0.33% | 0.37% | 0.48% | 0.34% | 0.42% | 0.46% | 0.35% | 0.51% | 0.38% | 0.46% | 0.42% | 0.46% | 5.12% |
| 2022 | 0.08% | 0.32% | 0.17% | 0.38% | 0.33% | 1.29% |
Benchmark Metrics
F/m US Treasury 3 Month Bill ETF has an annualized alpha of 4.52%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since August 09, 2022.
- This ETF captured 7.93% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -12.60%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.00 may look defensive, but with R2 of 0.00 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.00 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 4.52%
- Beta
- 0.00
- R²
- 0.00
- Upside Capture
- 7.93%
- Downside Capture
- -12.60%
Expense Ratio
TBIL has an expense ratio of 0.15%, which is considered low.
Return for Risk
Risk / Return Rank
TBIL ranks 100 for risk / return — in the top 100% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for F/m US Treasury 3 Month Bill ETF (TBIL) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TBIL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +11.97 | ||
| Sortino ratioReturn per unit of downside risk | +55.66 | ||
| Omega ratioGain probability vs. loss probability | 17.08 | 1.32 | +15.75 |
| Calmar ratioReturn relative to maximum drawdown | 195.79 | 2.46 | +193.34 |
| Martin ratioReturn relative to average drawdown | 929.44 | 10.92 | +918.52 |
Dividends
Dividend History
F/m US Treasury 3 Month Bill ETF provided a 3.81% dividend yield over the last twelve months, with an annual payout of $1.91 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $1.91 | $2.03 | $2.51 | $2.49 | $0.55 |
Dividend yield | 3.81% | 4.07% | 5.02% | 5.00% | 1.10% |
Monthly Dividends
The table displays the monthly dividend distributions for F/m US Treasury 3 Month Bill ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.16 | $0.15 | $0.15 | $0.15 | $0.15 | $0.00 | $0.75 | ||||||
| 2025 | $0.00 | $0.17 | $0.17 | $0.17 | $0.17 | $0.18 | $0.19 | $0.17 | $0.17 | $0.16 | $0.16 | $0.30 | $2.03 |
| 2024 | $0.00 | $0.22 | $0.22 | $0.22 | $0.22 | $0.22 | $0.22 | $0.22 | $0.22 | $0.21 | $0.19 | $0.37 | $2.51 |
| 2023 | $0.00 | $0.18 | $0.19 | $0.18 | $0.20 | $0.21 | $0.22 | $0.22 | $0.22 | $0.22 | $0.22 | $0.44 | $2.49 |
| 2022 | $0.15 | $0.15 | $0.25 | $0.55 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the F/m US Treasury 3 Month Bill ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the F/m US Treasury 3 Month Bill ETF was 0.10%, occurring on Oct 5, 2022. Recovery took 3 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -0.10%Oct 2022 | 1d | 5d | 6dOct 2022 - Oct 2022 |
Bear market2022 | -0.05%Dec 2022 | 0s | 2d | 2dDec 2022 - Dec 2022 |
Bear market2022 | -0.04%Aug 2022 | 4d | 1d | 5dAug 2022 - Aug 2022 |
Bear market2022 | -0.04%Nov 2022 | 0s | 2d | 2dNov 2022 - Nov 2022 |
2023 pullback2023 | -0.04%Apr 2023 | 0s | 1d | 1dApr 2023 - Apr 2023 |
Drawdown Indicators
| TBIL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.10% | -56.78% | +56.68% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -9.10% | +9.08% |
Max Drawdown (3Y)Largest decline over 3 years | -0.02% | -18.90% | +18.88% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.21% | +3.21% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -10.71% | +10.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 2.04% | -2.04% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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