At a glance
XONE charges 0.03% a year, below the 0.12% average of the 7 funds most like it (the cheapest of 8). It has $841.6M in assets, the 8th largest of that group; it paid 4.11% of its price in distributions over the past 12 months, monthly. Over the past year it returned +3.2% with distributions reinvested, 5th of those 8 funds; over three years it returned +4.4% a year. Its ten largest positions make up 26.6% of the fund, out of 52 in all.
The short version
BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) holds US Treasury notes and bonds picked to keep the portfolio's duration near one year. Duration measures how sensitive a bond is to interest rates. The fund's 0.03% expense ratio ties for the lowest among similar funds, where the average is 0.12%. Unlike Treasury bill funds, it leaves out T-bills. That makes it a little more sensitive to rate changes, but it holds on to yields slightly longer.
Price history
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XONE +3.2% 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 | |
|---|---|---|---|---|---|---|
| XONE official prospectus, to Dec 31, 2025 | — | +4.45% | — | — | — | +4.40% |
| Bloomberg US Treasury Index (reflects no deduction for fees, expenses, or taxes) index, same period | — | +6.32% | — | — | — | +2.84% |
| Bloomberg US Treasury 1 Year Duration Index (reflects no deduction for fees, expenses, or taxes) index, same period | — | +4.49% | — | — | — | +4.45% |
| XONE price data to Oct 27, 2026 | +2.5% | +3.2% | +4.4% | — | — | +4.2% |
- Over the year to Oct 27, 2026, XONE returned +3.2%, 5th of 8 among similar funds.
- Its worst full calendar year was 2025 (+4.4%); its best was 2024 (+4.8%).
- The deepest fall in its price history was 0.4% (May 4, 2023 to May 26, 2023), recovered by Jul 11, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +2.5% | — |
| 2025 | +4.4% | +4.45% |
| 2024 | +4.8% | +4.85% |
| 2023 | +4.7% | +4.73% |
| 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) | $1.5118 | |
| 2025 | $2.1500 | -16.3% |
| 2024 | $2.5700 | +15.8% |
| 2023 | $2.2200 |
What's inside
As of Jul 31, 2026, the fund held 52 securities; the ten largest made up 26.55% of assets.
| Holding | Weight | |
|---|---|---|
| US TREAS NTS 1.5% 01/31/27 Bonds and notes | 2.91% | |
| US TREAS NTS 3.75% 06/30/27 Bonds and notes | 2.88% | |
| US TREAS NTS 3.875% 05/31/27 Bonds and notes | 2.78% | |
| US TREAS NTS 3.875% 03/31/27 Bonds and notes | 2.77% | |
| US TREAS NTS 4.125% 02/28/27 Bonds and notes | 2.73% | |
| US TREAS NTS 3.75% 04/30/27 Bonds and notes | 2.72% | |
| US TREAS NTS 3.5% 09/30/27 Bonds and notes | 2.58% | |
| US TREAS NTS 4.125% 01/31/27 Bonds and notes | 2.48% | |
| US TREAS NTS 3.375% 12/31/27 Bonds and notes | 2.36% | |
| US TREAS NTS 4.5% 04/15/27 Bonds and notes | 2.34% | |
| US TREAS NTS 3.5% 10/31/27 Bonds and notes | 2.32% | |
| US TREAS NTS 3.375% 11/30/27 Bonds and notes | 2.30% | |
| US TREAS NTS 4.25% 03/15/27 Bonds and notes | 2.29% | |
| US TREAS NTS 3.625% 08/31/27 Bonds and notes | 2.21% | |
| WI TREASURY 3.875% 10/15/27 Bonds and notes | 2.16% |
By country
United States 99.13%By issuer
US Treasury 99.13%The bonds mature in 1 years on average (weighted by size), with an average coupon of 3.1%.
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 added a net $122.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.24%, +0.14%, +0.31%.
How it works
XONE tracks the Bloomberg US Treasury One Year Target Duration Index. Bloomberg Index Services Limited, which is not affiliated with BondBloxx, runs the index. Duration measures how much a bond's price moves when interest rates change. A lower number means smaller swings. The index draws from two "buckets." One holds Treasury notes and bonds with durations of 6 to 12 months from the Bloomberg US Short Treasury Index. The other holds those with durations of 12 to 18 months from the Bloomberg US Treasury Index. Within each bucket, bonds are weighted by market value. The two buckets are then blended so the whole index averages about one year of duration. Treasury bills are left out.
The index is rebalanced on the last business day of each month. Bonds that have become too short drop out, and new ones take their place. This steady rollover helps explain the 69% portfolio turnover in the prospectus. As of December 31, 2025, the index had about 57 bonds.
BondBloxx uses representative sampling. It may hold a sample of index bonds with a similar duration, maturity and yield rather than every one. It must keep at least 80% of net assets in Treasuries averaging about one year of duration. As of July 31, 2026, the fund held 52 positions, and 99.1% of assets were in US Treasury notes. The largest holding was the 1.5% note due January 31, 2027, at 2.9% of assets.
What it really costs
- XONE charges 0.03% a year, versus an average of 0.12% for the similar funds below (1st of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $3 in the first year and $39 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| XONE | $3 | $10 | $17 | $39 |
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 short US Treasury notes, and since its 2022 launch its deepest price drop has been 0.4%.
XONE has a short record. It launched on September 13, 2022, so it missed the 2008 financial crisis, the 2020 COVID crash and most of the 2022 bear market. It has not had a losing calendar year since. Its weakest full year was 2025, when it returned 4.45%. Its deepest drop was 0.4%, from May 4 to May 26, 2023, and it recovered by July 11, 2023, about 1.5 months later. That steadiness may help someone who has to sell shares in a bad year for stocks. The fund pays income monthly. Its trailing 12-month yield was 4.11% as of October 27, 2026, and that income will fall if short-term rates drop. Costs are low: 0.03% a year, or $39 over 10 years in the SEC's standard $10,000 example. 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 short-term US Treasury exposure for 0.03% a year, below the 0.12% average of similar funds.
- People who want monthly income from Treasury notes, not T-bills, with an average maturity of about one year.
- Investors holding cash reserves who can accept small price moves. The fund's deepest drop since its 2022 launch was 0.4%.
Look elsewhere if
- Investors seeking long-term growth. Calendar-year returns stayed between 4.4% and 4.8% from 2023 to 2025.
- Those who prefer a very large fund. At about $842 million, XONE is the smallest of eight similar funds, and SGOV tops $100 billion.
- Investors seeking inflation protection or yields locked in for many years. With a one-year duration, its income adjusts quickly when rates change.
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 |
|---|---|---|---|---|---|
| XONE this fund | 1 yrs | 0.03% | $841.6M | +3.2% | +4.4% |
| USFR WisdomTree Floating Rate Treasury Fund | 1.5 yrs | 0.15% | $18.76B | +4.1% | +4.6% |
| SHV iShares Short Treasury Bond ETF | 0.3 yrs | 0.15% | $20.97B | +3.3% | +4.3% |
| BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 0.2 yrs | 0.1356% | $47.08B | +3.3% | +4.3% |
| SHY iShares 1-3 Year Treasury Bond ETF | 1.9 yrs | 0.15% | $25.91B | +1.7% | +3.9% |
| VGSH Vanguard Short-Term Treasury ETF | 1.9 yrs | 0.03% | $39.20B | +2.2% | +4.2% |
| SGOV iShares 0-3 Month Treasury Bond ETF | 0.1 yrs | 0.09% | $105.98B | +3.4% | +4.4% |
| IEI iShares 3-7 Year Treasury Bond ETF | 4.7 yrs | 0.15% | $17.68B | -0.4% | +4.0% |
Questions investors ask
Does XONE pay monthly dividends?
Yes. XONE pays income every month, and that income comes from the interest on its US Treasury notes. Over the 12 months to October 27, 2026, it paid about $2.02 per share, a trailing yield of 4.11%. Because the fund holds bonds maturing within about a year and a half, its payouts follow short-term interest rates closely. If rates fall, the monthly income will likely shrink as maturing bonds are replaced with lower-yielding ones.
What's the difference between XONE and VGSH?
Both charge 0.03% a year, but VGSH holds longer Treasuries. VGSH's average maturity is 1.9 years, while XONE's is about one year, so VGSH reacts more to rate changes. VGSH is also much larger, with about $39.2 billion in assets against about $842 million for XONE. As of late October 2026, XONE's one-year return was 3.2% and VGSH's was 2.2%. Over three years, they returned 4.4% and 4.2% a year.
XONE vs SHV or BIL: which Treasury ETF is shorter?
SHV and BIL are shorter. SHV's average maturity is 0.3 years and BIL's is 0.2 years, mostly in Treasury bills. XONE leaves out T-bills and targets about one year of duration, so its price moves a little more when rates change. It also holds on to yields a bit longer. XONE costs 0.03% a year, compared with 0.15% for SHV and about 0.14% for BIL. Over three years, all three returned about 4.4% a year as of late October 2026.
What is XONE's expense ratio?
XONE's expense ratio is 0.03%, according to its prospectus filed February 27, 2026. The average among similar funds is 0.12%. In the SEC's standard example, $10,000 invested with a 5% yearly return would cost about $3 in the first year, $10 over three years, $17 over five years and $39 over ten years. The fund reports no fee waiver, so this cost is not a temporary discount.
Can you lose money in XONE?
Yes, though losses have been small so far. XONE's deepest drop since its September 2022 launch was 0.4%, in May 2023, and it recovered by July 2023. Its weakest quarter was still a gain of 0.32%. US Treasuries are backed by the full faith and credit of the US government. Even so, the prospectus warns about interest-rate, credit, inflation and reinvestment risk, and the fund's shares can trade above or below the value of its holdings.