At a glance
XFIV charges 0.05% a year, below the 0.1% average of the 7 funds most like it (the 3rd cheapest of 8). It has $324.0M in assets, the 8th largest of that group; it paid 4.02% of its price in distributions over the past 12 months, monthly. Over the past year it returned −1.5% with distributions reinvested, 7th of those 8 funds; over three years it returned +4.3% a year. Its ten largest positions make up 37.0% of the fund, out of 49 in all.
The short version
BondBloxx Bloomberg Five Year Target Duration US Treasury ETF (XFIV) holds U.S. Treasury notes chosen to keep the portfolio's duration near 5 years. Duration measures how much a bond's price reacts when interest rates change. Its 0.05% expense ratio is half the 0.10% average of similar funds, but Vanguard's VGIT charges 0.03%. XFIV pays income monthly. With about $324 million in assets as of July 31, 2026, it is the smallest fund in its peer group.
Price history
The interactive chart needs JavaScript.
XFIV -1.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| XFIV official prospectus, to Dec 31, 2025 | — | +7.70% | — | — | — | +3.75% |
| Bloomberg US Treasury Index (reflects no deduction for fees, expenses, or taxes) index, same period | — | +6.32% | — | — | — | +2.84% |
| Bloomberg US Treasury 5 Year Duration Index (reflects no deduction for fees, expenses, or taxes) index, same period | — | +7.75% | — | — | — | +3.80% |
| XFIV price data to Oct 27, 2026 | -1.6% | -1.5% | +4.3% | — | — | +2.6% |
- Over the year to Oct 27, 2026, XFIV returned -1.5%, 7th of 8 among similar funds.
- Its worst full calendar year was 2024 (+1.5%); its best was 2025 (+7.5%).
- The deepest fall in its price history was 6.4% (May 4, 2023 to Oct 19, 2023), recovered by Dec 27, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -1.6% | — |
| 2025 | +7.5% | +7.70% |
| 2024 | +1.5% | +1.26% |
| 2023 | +4.4% | +4.41% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.4500 | |
| 2025 | $2.0100 | +6.9% |
| 2024 | $1.8800 | +5.6% |
| 2023 | $1.7800 |
What's inside
As of Jul 31, 2026, the fund held 49 securities; the ten largest made up 37.02% of assets.
| Holding | Weight | |
|---|---|---|
| US TREAS BDS 4.125% 11/15/32 Bonds and notes | 4.51% | |
| US TREAS NTS 1.375% 11/15/31 Bonds and notes | 4.44% | |
| US TREAS NTS 2.875% 05/15/32 Bonds and notes | 4.30% | |
| US TREAS NTS 3.5% 02/15/33 Bonds and notes | 4.30% | |
| US TREAS NTS 1.875% 02/15/32 Bonds and notes | 4.20% | |
| US TREAS NTS 2.75% 08/15/32 Bonds and notes | 4.18% | |
| US TREAS NTS 1.125% 02/15/31 Bonds and notes | 2.98% | |
| US TREAS NTS 0.875% 11/15/30 Bonds and notes | 2.81% | |
| US TREAS NTS 1.25% 08/15/31 Bonds and notes | 2.70% | |
| US TREAS NTS 1.625% 05/15/31 Bonds and notes | 2.58% | |
| US TREAS NTS 4.25% 05/31/33 Bonds and notes | 2.09% | |
| US TREAS NTS 3.875% 12/31/32 Bonds and notes | 2.05% | |
| US TREAS NTS 4% 01/31/33 Bonds and notes | 2.05% | |
| US TREAS NTS 3.875% 09/30/32 Bonds and notes | 2.04% | |
| US TREAS NTS 4.125% 05/31/32 Bonds and notes | 2.00% |
By country
United States 98.89%By issuer
US Treasury 98.89%The bonds mature in 5.5 years on average (weighted by size), with an average coupon of 3.37%.
Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $106.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.11%, +0.10%, -0.75%.
How it works
XFIV tracks the Bloomberg US Treasury Five Year Target Duration Index, run by Bloomberg Index Services Limited. That index draws from the broader Bloomberg US Treasury Index, which covers Treasuries with at least one year left to maturity. As of December 31, 2025, the broader index had about 295 bonds. The fund's index takes two slices of it: bonds with durations of 4 to 5 years and bonds with durations of 5 to 6 years. Within each slice, bonds are weighted by market value. The two slices are then blended in whatever mix keeps the index's duration at 5 years. As of December 31, 2025, the index held about 50 bonds.
The index is rebalanced on the last business day of each month. As bonds age, their duration shrinks and they drop out of the slices. This explains the fund's 81% portfolio turnover. BondBloxx uses "representative sampling," meaning it may hold a close sample of the index rather than every bond. At least 80% of assets must be in Treasuries with an average duration of about 5 years. Up to 20% may go into other government securities or cash.
As of July 31, 2026, the fund held 49 Treasury notes and no derivatives. The largest were the 4.125% note due November 2032 (4.5%) and the 1.375% note due November 2031 (4.4%). The top ten made up 37% of assets. The fund uses no leverage or options.
What it really costs
- XFIV charges 0.05% a year, versus an average of 0.1% for the similar funds below (3rd of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $5 in the first year and $64 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| XFIV | $5 | $16 | $28 | $64 |
Structure and tax notes
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
It holds only U.S. Treasuries at a moderate duration, and it has moved very little with stocks.
XFIV could add a low-cost, high-credit-quality layer to a portfolio. Its one-year beta was 0.08 as of October 27, 2026, meaning it barely moved with the stock market. Its trailing 12-month yield was 4.02% as of that date, paid monthly. In the SEC's standard example, costs on $10,000 come to $64 over 10 years.
Its track record is short. The fund launched in September 2022. It has no history through the 2008 or 2020 crashes and missed most of the 2022 bear market. Its deepest drop was 6.4%, from May to October 2023, and it recovered by December 27, 2023. Its weakest calendar year, 2024, still gained 1.26%. Rising rates can still push the price down: the one-year price return was -1.5% as of October 27, 2026. Someone selling in a bad stretch could lock in that kind of dip. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a middle-ground Treasury fund, with more rate sensitivity than short-term funds like VGSH and less than IEF.
- Retirees who value monthly income from U.S. Treasuries. The trailing 12-month yield was 4.02% as of October 27, 2026.
- Cost-conscious investors. The 0.05% expense ratio is half the 0.10% peer average and matches iShares' GOVT.
Look elsewhere if
- Investors who want the lowest cost and most assets. VGIT has a similar 5.5-year average maturity, charges 0.03%, and holds about $48 billion.
- Investors who need protection from inflation. These are regular Treasuries, not inflation-protected bonds, and inflation can erode their value.
- Investors who want a long track record. XFIV launched in September 2022, so it has no history through the 2008 or 2020 crashes.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
| Fund | Avg. maturity | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| XFIV this fund | 5.5 yrs | 0.05% | $324.0M | -1.5% | +4.3% |
| VGIT Vanguard Intermediate-Term Treasury ETF | 5.5 yrs | 0.03% | $48.41B | -0.2% | +4.5% |
| IEI iShares 3-7 Year Treasury Bond ETF | 4.7 yrs | 0.15% | $17.68B | -0.4% | +4.0% |
| GOVT iShares U.S. Treasury Bond ETF | 7.4 yrs | 0.05% | $43.55B | -0.5% | +3.8% |
| IEF iShares 7-10 Year Treasury Bond ETF | 8.4 yrs | 0.15% | $41.82B | -1.7% | +4.0% |
| VGSH Vanguard Short-Term Treasury ETF | 1.9 yrs | 0.03% | $39.20B | +2.2% | +4.2% |
| SHY iShares 1-3 Year Treasury Bond ETF | 1.9 yrs | 0.15% | $25.91B | +1.7% | +3.9% |
| USFR WisdomTree Floating Rate Treasury Fund | 1.5 yrs | 0.15% | $18.76B | +4.1% | +4.6% |
Questions investors ask
Does XFIV pay monthly dividends?
Yes. XFIV pays distributions monthly. Over the 12 months to October 27, 2026, it paid about $1.90 per share, a trailing yield of 4.02%. The income comes from interest on the Treasury notes it holds, which had an average coupon of 3.37% as of July 31, 2026. Payments can rise or fall as the fund replaces maturing or aging bonds with new ones at different interest rates. The prospectus calls this reinvestment risk.
What's the difference between XFIV and VGIT?
Both hold intermediate-term U.S. Treasuries, with an average maturity of about 5.5 years. VGIT is cheaper at 0.03% a year versus 0.05% for XFIV. It is also much larger: about $48.4 billion as of August 31, 2026, against XFIV's $324 million as of July 31, 2026. XFIV's index is rebalanced monthly to hold duration at 5 years. Annualized three-year returns were close: 4.3% for XFIV as of October 27, 2026, and 4.5% for VGIT as of October 30, 2026.
Is XFIV good for retirement?
It may suit the defensive part of a retirement portfolio. It holds only U.S. Treasuries, pays income monthly, and charges 0.05% a year. Its one-year beta was just 0.08 as of October 27, 2026, so it has moved very little with stocks. The drawbacks: a short history since September 2022, and prices that fall when interest rates rise. Its one-year price return was -1.5% as of October 27, 2026. It is worth comparing with lower-cost VGIT.
What does five year target duration mean?
It means the fund aims to keep its interest-rate sensitivity at the level of a bond with a duration of about 5 years. The index mixes Treasuries with durations of 4 to 5 years and 5 to 6 years. Each month it rebalances so the blend averages 5 years. Unlike a single bond, which becomes less sensitive to rates as it nears maturity, the fund's sensitivity stays roughly constant. That puts it between short-term and longer-term Treasury funds.
Can XFIV lose money?
Yes. U.S. Treasuries are backed by the full faith and credit of the U.S. government, but their prices fall when interest rates rise. XFIV's deepest drop was 6.4%, between May 4 and October 19, 2023. It recovered by December 27, 2023. Its worst quarter was a 2.98% loss in the fourth quarter of 2024. Through December 31, 2025, it had not lost money in any full calendar year. Over the year to October 27, 2026, its price return was -1.5%.