At a glance
XTRE charges 0.05% a year, below the 0.11% average of the 7 funds most like it (the 3rd cheapest of 8). It has $163.9M 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 +0.3% with distributions reinvested, 6th of those 8 funds; over three years it returned +4.0% a year. Its ten largest positions make up 22.9% of the fund, out of 75 in all.
The short version
BondBloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE) holds US Treasury notes chosen to keep the portfolio's duration, its sensitivity to interest-rate moves, near three years. Many short-term Treasury funds hold a fixed maturity range. XTRE's index instead rebalances every month to hit its duration target. It charges 0.05% a year, below the 0.11% average of similar funds, and pays income monthly. It is much smaller than rival funds from Vanguard and iShares.
Price history
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XTRE +0.3% 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 | |
|---|---|---|---|---|---|---|
| XTRE official prospectus, to Dec 31, 2025 | — | +6.22% | — | — | — | +4.03% |
| Bloomberg US Treasury Index (reflects no deduction for fees, expenses, or taxes) index, same period | — | +6.32% | — | — | — | +2.84% |
| Bloomberg US Treasury Three Year Target Duration Index (reflects no deduction for fees, expenses, or taxes) index, same period | — | +6.26% | — | — | — | +4.07% |
| XTRE price data to Oct 27, 2026 | -0.2% | +0.3% | +4.0% | — | — | +3.2% |
- Over the year to Oct 27, 2026, XTRE returned +0.3%, 6th of 8 among similar funds.
- Its worst full calendar year was 2024 (+3.0%); its best was 2025 (+6.0%).
- The deepest fall in its price history was 2.9% (May 4, 2023 to Jul 6, 2023), recovered by Dec 13, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -0.2% | — |
| 2025 | +6.0% | +6.22% |
| 2024 | +3.0% | +2.95% |
| 2023 | +4.4% | +4.33% |
| 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) | $1.5000 | |
| 2025 | $1.9000 | -6.9% |
| 2024 | $2.0400 | +4.1% |
| 2023 | $1.9600 |
What's inside
As of Jul 31, 2026, the fund held 75 securities; the ten largest made up 22.85% of assets.
| Holding | Weight | |
|---|---|---|
| US TREAS NTS 4% 02/28/30 Bonds and notes | 3.00% | |
| US TREAS NTS 0.625% 08/15/30 Bonds and notes | 2.63% | |
| US TREAS NTS 4% 05/31/30 Bonds and notes | 2.30% | |
| US TREAS NTS 3.625% 09/30/30 Bonds and notes | 2.16% | |
| US TREAS NTS 4.25% 01/31/30 Bonds and notes | 2.15% | |
| US TREAS NTS 3.875% 04/30/30 Bonds and notes | 2.14% | |
| US TREAS NTS 3.625% 08/31/30 Bonds and notes | 2.14% | |
| US TREAS NTS 3.875% 06/30/30 Bonds and notes | 2.12% | |
| US TREAS NTS 4.375% 12/31/29 Bonds and notes | 2.10% | |
| US TREAS NTS 4% 03/31/30 Bonds and notes | 2.10% | |
| US TREAS NTS 3.5% 09/30/29 Bonds and notes | 2.08% | |
| US TREAS NTS 0.625% 05/15/30 Bonds and notes | 2.07% | |
| US TREAS NTS 4.125% 11/30/29 Bonds and notes | 2.01% | |
| US TREAS NTS 3.875% 07/31/30 Bonds and notes | 1.98% | |
| US TREAS NTS 4.125% 10/31/29 Bonds and notes | 1.92% |
By country
United States 98.96%By issuer
US Treasury 98.96%The bonds mature in 3.1 years on average (weighted by size), with an average coupon of 3.33%.
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 $64.6M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.05%, +0.04%, -0.16%.
How it works
XTRE tracks the Bloomberg US Treasury Three Year Target Duration Index. Bloomberg Index Services, which is not affiliated with BondBloxx, runs the index. It starts from the broader Bloomberg US Treasury Index, which held about 295 notes and bonds with at least a year left to maturity as of December 31, 2025. From that list it takes two "duration buckets": Treasuries with durations of 2 to 3 years and 3 to 4 years. Duration estimates how much a bond's price moves when interest rates change. A higher number means bigger swings.
Within each bucket, bonds are weighted by market value. The two buckets are then blended in whatever mix brings the overall duration to about 3 years. The index resets on the last business day of each month and held about 77 securities as of December 31, 2025. Those monthly resets help explain the fund's 56% portfolio turnover.
BondBloxx uses "representative sampling". This means the fund holds a group of bonds whose combined features match the index, which may not be every bond in it. At least 80% of assets must be in Treasuries averaging about 3 years of duration. As of July 31, 2026, the fund held 75 Treasury notes, made up 98.96% of assets and used no derivatives. Its average maturity was 3.1 years. The largest position, a 4% note due February 28, 2030, was about 3.0% of the fund, and the top ten totaled 22.85%.
What it really costs
- XTRE charges 0.05% a year, versus an average of 0.11% 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 |
|---|---|---|---|---|
| XTRE | $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 short-to-intermediate US Treasury notes, and its price swings have been small, with a deepest drop of 2.9% since launch.
XTRE could serve as a low-volatility bond position backed by the US government. It launched in September 2022. That was too late to show how it would have held up in the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market. Its deepest drop was 2.9%, from May 4 to July 6, 2023. It regained that peak by December 13, 2023, about five months later. Its weakest full calendar year, 2024, still returned 2.95%. For someone who must sell shares in a bad year, those dips have been shallow. Still, rising rates can push the price below what was paid, and its income does not adjust for inflation. It pays monthly, with a trailing yield of 4.11% as of October 27, 2026, and costs 0.05% a year. 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 wanting Treasury-only bonds with about three years of duration for 0.05% a year, below the 0.11% average of similar funds.
- Retirees who value monthly income. The trailing yield was 4.11% as of October 27, 2026, from 75 Treasury notes.
- Those who prefer steady interest-rate risk over a fixed maturity band, since the index resets to a 3-year duration every month.
Look elsewhere if
- Those wanting the lowest cost and a much larger fund. VGSH charges 0.03% and held about $39.2 billion as of August 31, 2026.
- Savers needing minimal price swings. T-bill funds such as BIL average 0.2 years to maturity, versus 3.1 years for XTRE.
- Investors wary of small funds. XTRE held $163.9 million as of July 31, 2026, after $64.6 million in net outflows over three months.
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 |
|---|---|---|---|---|---|
| XTRE this fund | 3.1 yrs | 0.05% | $163.9M | +0.3% | +4.0% |
| 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% |
| IEI iShares 3-7 Year Treasury Bond ETF | 4.7 yrs | 0.15% | $17.68B | -0.4% | +4.0% |
| USFR WisdomTree Floating Rate Treasury Fund | 1.5 yrs | 0.15% | $18.76B | +4.1% | +4.6% |
| VGIT Vanguard Intermediate-Term Treasury ETF | 5.5 yrs | 0.03% | $48.41B | -0.2% | +4.5% |
| 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% |
Questions investors ask
Does XTRE pay monthly dividends?
Yes. XTRE pays distributions monthly. In the 12 months to October 27, 2026, it paid about $1.98 per share, a trailing yield of 4.11%. The payments come from interest on the Treasury notes it holds, so they can rise or fall as rates change. The prospectus warns that income could decline when the fund reinvests at interest rates below what its existing bonds earn.
What's the difference between XTRE and VGSH?
Both hold US Treasuries, but XTRE holds longer bonds. Its average maturity was 3.1 years as of July 31, 2026, versus 1.9 years for Vanguard Short-Term Treasury ETF (VGSH) as of August 31, 2026. That makes XTRE's price more sensitive to rate changes. VGSH costs 0.03% to XTRE's 0.05%, and it held about $39.2 billion against XTRE's $163.9 million. VGSH returned 2.2% over one year through October 30, 2026. XTRE returned 0.3% through October 27.
What does target duration mean for XTRE?
It means the index aims for a fixed level of interest-rate sensitivity, about three years of duration, rather than a fixed maturity range. Duration estimates how much a bond's price moves when rates change: higher duration means bigger swings. Each month, the Bloomberg index blends Treasuries from a 2-to-3-year bucket and a 3-to-4-year bucket in whatever mix lands near three years. That keeps the fund's rate risk fairly steady over time.
Can you lose money in XTRE?
Yes, though its drops have been small so far. Treasury prices fall when interest rates rise. XTRE's deepest decline was 2.9%, from May 4 to July 6, 2023, and it recovered by December 13, 2023. It was down 0.19% for 2026 through October 27. Its record starts in September 2022, so it has not been tested by a crisis like 2008. The prospectus also notes that US government debt still carries some credit risk.
What is XTRE's expense ratio?
XTRE's expense ratio is 0.05% a year, according to its prospectus filed February 27, 2026. The SEC's standard example assumes $10,000 invested, a 5% annual return and all shares sold at the end. On that basis, costs would total about $5 after one year, $28 after five years and $64 after ten. That makes it the third-cheapest of eight comparable Treasury funds, XTRE included, against a peer average of 0.11%. Vanguard's VGSH and VGIT charge 0.03%.