No Cash Limitations
Treated as an ETF investment rather than a “cash position,” which can help when cash allocations are capped or constrained.
The Future of Cash is TBIL
Many advisors are leaving money on the table with outdated money market funds. Find out how much in a 15-minute consultation.
$6B+ moved to TBIL (F/m US Treasury 3 Month Bill ETF) since 2022. What are they seeing that you're not?
You're Optimizing Every Other Part of the Portfolio. Why Not Cash?
Blockbuster and fax machines both had peaked by 2004 as the world moved on to video streaming and PDFs.
Why are you managing cash like it’s 2004?
TBIL has attracted over $6 Billion of assets since its launch in 2022, propelled by forward-thinking advisors who asked the simple question: “Is there a better way to manage my clients’ cash?”
The answer surprised them. It might surprise you too.
Some Reasons Why Advisors Are Switching to TBIL
Ease + Liquidity
TBIL trades like an ETF and can generally be bought/sold during market hours (subject to market conditions).
Monthly Interest Distributions
Investors typically receive a monthly distribution tied to prevailing 3-month Treasury bill yields (with reinvestment options depending on platform settings).
Safety + Simplicity
TBIL provides short-term US Treasury exposure with a clean, transparent structure (no leverage, no credit risk beyond Treasuries).
State/Local Tax Considerations
US Treasury interest is generally exempt from state and local income taxes (rules vary by state and investor situation).
Low fees
TBIL’s expense ratio is 0.15% (15 bps)
F/m Investments, LLC ("F/m") is an investment advisory firm registered with the Securities and Exchange Commission (“SEC”) under the Investment Advisers Act of 1940. SEC registration does not constitute an endorsement of the firm by the Commission, nor does it indicate that the adviser or investment adviser representative has attained a particular level of skill or ability.
The material contained on this website is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or investment strategy. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor's objectives and circumstances and in consultation with their financial professionals.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call 1-800-617-0004. Read the prospectus or summary prospectus carefully before investing.
As with all ETFs, Shares may be bought and sold in the secondary market at market prices. Interest rate risk is the risk of losses attributable to changes in interest rates. In general, if prevailing interest rates rise, the values of debt instruments tend to fall, and if interest rates fall, the values of debt instruments tend to rise.
ETFs are not money market funds and do not offer the same protections. Unlike some money market funds, ETF shares are not FDIC-insured, are not guaranteed, and may lose value. ETFs are subject to market risk, including possible loss of principal.
Fund Risks
Fund Risks: The UST 3 Month Bill Fund may be susceptible to an increased risk of loss, including losses due to adverse events that affect the UST 3 Month Bill Fund’s investments more than the market as a whole, to the extent that the UST 3 Month Bill Fund’s investments are concentrated in a particular issue, issuer or issuers, country, market segment, or asset class. While U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. Government, such securities are nonetheless subject to credit risk (i.e., the risk that the U.S. Government may be, or be perceived to be, unable or unwilling to honor its financial obligations, such as making payments).
Fixed-Income Market Risk. The market value of a fixed income security may decline due to general market conditions that are not specifically related to a particular issuer, such as real or perceived adverse economic conditions, changes in the outlook for corporate earnings, changes in interest or currency rates or adverse investor sentiment generally.
Interest Rate Risk. Interest rate risk is the risk of losses attributable to changes in interest rates. In general, if prevailing interest rates rise, the values of debt instruments tend to fall, and if interest rates fall, the values of debt instruments tend to rise.
Income Risk. The Fund’s income may decline if interest rates fall. This decline in income can occur because the Fund may subsequently invest in lower yielding bonds as bonds in its portfolio mature, are near maturity or are called, bonds in the Underlying Index are substituted, or the Fund otherwise needs to purchase additional bonds.
New Fund Risk. The Fund’s is a newly organized, management investment company with no operating history. In addition, there can be no assurance that the Fund’s will grow to, or maintain, an economically viable size, in which case the Board of Directors (the “Board”) of The RBB Fund, Inc. (the “Company”) may determine to liquidate the Fund.
High Portfolio Turnover Risk. In seeking to track the Underlying Index, the Fund may incur relatively high portfolio turnover. The active and frequent trading of the Fund’s portfolio securities may result in increased transaction costs to the Fund, including brokerage commissions, dealer mark-ups and other transaction costs, which could reduce the Fund’s return.
Liquidity Risk. Certain securities held may be difficult (or impossible) to sell at the time and at the price the Adviser would like. New Fund Risk. The funds are newly organized, management investment company with no operating history.
Duration is a measure of the sensitivity of the price of a bond or other debt instrument to a change in interest rates.
Investments involve risk. Principal loss is possible.
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