Fixed Income

Treasuries by Maturity ETFs

The cleanest way to choose exactly how much interest-rate risk you take. Bill funds are cash substitutes with almost no price movement; long-bond funds can swing 20% in a year on rate moves alone. Nothing here carries credit risk.

Theme performance

Equal-weighted across every fund in this objective

1Y: +4.6%
5Y ann.: -1.6%
10Y ann.: —
All-time ann.: —

Sort10 funds

SGOV

iShares 0-3 Month Treasury Bond ETF

iShares

Effectively a cash equivalent — T-bills with near-zero duration risk.

Fee: 0.09%
AUM: $54.1B
Yield: 4.3%

1Y: +4.9%
5Y ann.: +3.1%
10Y ann.: —
Max ann.: —

TLT

iShares 20+ Year Treasury Bond ETF

iShares

Long-duration Treasuries. Maximum interest-rate sensitivity, no credit risk.

Fee: 0.15%
AUM: $48.4B
Yield: 4.4%

1Y: +2.1%
5Y ann.: -8.1%
10Y ann.: —
Max ann.: —

BIL

SPDR Bloomberg 1-3 Month T-Bill ETF

SPDR

The shortest T-bills available. A cash equivalent with essentially no price movement.

Fee: 0.14%
AUM: $44.1B
Yield: 4.1%

1Y: +4.3%
5Y ann.: +3.1%
10Y ann.: —
Max ann.: —

IEF

iShares 7-10 Year Treasury Bond ETF

iShares

Intermediate Treasuries: the classic equity hedge, with real duration risk.

Fee: 0.15%
AUM: $36.4B
Yield: 3.8%

1Y: +5.4%
5Y ann.: -1.1%
10Y ann.: —
Max ann.: —

VGIT

Vanguard Intermediate-Term Treasury ETF

Vanguard

Three to ten year Treasuries, cheaper and slightly shorter than IEF.

Fee: 0.03%
AUM: $34.9B
Yield: 3.8%

1Y: +5.1%
5Y ann.: -0.2%
10Y ann.: —
Max ann.: —

SHY

iShares 1-3 Year Treasury Bond ETF

iShares

Short Treasuries: some price movement, still very defensive.

Fee: 0.15%
AUM: $24.6B
Yield: 3.9%

1Y: +4.6%
5Y ann.: +2.1%
10Y ann.: —
Max ann.: —

VGSH

Vanguard Short-Term Treasury ETF

Vanguard

Vanguard's 1-3 year Treasury fund at a rock-bottom fee.

Fee: 0.03%
AUM: $24.1B
Yield: 3.9%

1Y: +4.7%
5Y ann.: +2.2%
10Y ann.: —
Max ann.: —

SHV

iShares Short Treasury Bond ETF

iShares

Treasuries maturing within a year: cash-like, slightly more yield than pure bills.

Fee: 0.15%
AUM: $20.4B
Yield: 4.2%

1Y: +4.4%
5Y ann.: +3.1%
10Y ann.: —
Max ann.: —

VGLT

Vanguard Long-Term Treasury ETF

Vanguard

Twenty-plus year Treasuries: maximum sensitivity to long-rate moves in either direction.

Fee: 0.03%
AUM: $12.6B
Yield: 4.6%

1Y: +4.9%
5Y ann.: -8.1%
10Y ann.: —
Max ann.: —

EDV

Vanguard Extended Duration Treasury ETF

Vanguard

Zero-coupon 20-30 year STRIPS. The single most rate-sensitive Treasury fund available.

Fee: 0.05%
AUM: $4.1B
Yield: 4.7%

1Y: +5.6%
5Y ann.: -12.4%
10Y ann.: —
Max ann.: —