US Benchmark Series Announces Launch of the US Treasury 12 Month Bill ETF

Today, The US Benchmark Series, a brand of F/m Investments (“F/m”), a $4 billion multi-boutique investment advisor based in Washington DC, is proud to announce the launch of the US Treasury 12 Month Bill ETF (Ticker “OBIL”).

The US Benchmark Series is a suite of US Treasury ETFs (“the Funds”) designed to simplify access to the US Treasury market, holding the most current (“on the run”) US Treasury security that corresponds to its tenor. With OBIL being the latest maturity ETF to launch, joining the initial three ETFs which have raised approximately $300 million in AUM since their mid-August inception – the US Treasury 10 Year Note ETF (Ticker: UTEN); the US Treasury 2 Year Note ETF (Ticker: UTWO); and the US Treasury 3 Month Bill ETF (Ticker: TBIL). Each ETF tracks an ICE index specific to its tenor. (For more information on the indices, please visit https://indices.theice.com/.)

“The application of the existing ETF’s has been revolutionary; beyond even our most ambitious expectations,” said Alexander Morris, F/m’s President, CIO, and Co-Creator of the US Benchmark Series. “Given the shape of the yield curve today, we are responding to investor demand in launching the highest yielding tenor, the 12 month, with the intentions to prudently launch the other points on the curve.”

The yield curve is the foundation for nearly all investing. The suite of ETFs offer investors the following:

• Simplified access to the current benchmark tenor US Treasury securities.
• Monthly dividends, providing a more frequent and regular interest payment than holding the underlying securities.
• Automatic rolls that provide constant benchmark exposure without hassle or added expense.
• At $50 per share, the ability to transact in fractions of traditional bond sizing.
• The other benefits and operational efficacies of the Funds:
  • Tax efficiency
  • Intraday liquidity with equity trading and settlement
  • Access to shorting, and options, facilitating expression of a variety of views on US rates

Jane Street Capital (“Jane Street”), a leading global liquidity provider who trades more than 5,000 ETFs worldwide, will serve as lead market marker for OBIL, as it does for sister funds TBIL UTWO, and UTEN. Initial funding will come from Mirae Asset Securities (USA) Inc, and several other investment firms who look forward to utilizing and supporting the market for 12 month ETF. OBIL will be listed along side its sister funds on the NASDAQⁱ. The US Benchmark Series is housed with series trust provider, The RBB Fund, Inc.