ETF Evaluator:
F/m US Treasury 5 Year Note ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Intermediate Government Over the Last Year
| 6.1% | Regan Fixed Rate MBS ETF (MBSX) |
| 3.1% | Simplify MBS ETF (MTBA) |
| 2.6% | Vanguard Government Securities Actv ETF (VGVT) |
| 2.2% | Intermediate Government () |
| 2.1% | State Street SPDR Port Itmt Term Trs ETF (SPTI) |
Risk
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Risk
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ETF Details
F/m US Treasury 5 Year Note ETF Overview
F/m US Treasury 5 Year Note ETF (UFIV) is a passively managed Taxable Bond Intermediate Government exchange-traded fund (ETF). F/m Investments LLC launched the ETF in 2023.
The investment seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of the Bloomberg U.S. Treasury Bellwether 5Y Total Return USD Unhedged Index (I00092US).
Under normal market conditions, F/m Investments LLC (the “Adviser”) seeks to achieve the fund’s investment objective by investing at least 80% of the fund’s net assets (plus any borrowings for investment purposes) in the component securities of the underlying index. The ICE BofA Current 5-Year U.S. Treasury Index is a one-security index comprised of the most recently issued 5-year U.S. treasury note.
About F/m US Treasury 5 Year Note ETF (UFIV)
There are 3 members of the management team with an average tenure of 3.35 years: Peter Baden (2023), Alexander Morris (2023) and Marcin Zdunek (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: ICE BofA Current 5-Y US Trsy TR USD index with a weighting of 100% and Bloomberg US Trsy Bellwethers 5Y TR USD index with a weighting of 100%. F/m US Treasury 5 Year Note ETF has 4 securities in its portfolio. The top 10 holdings constitute 100.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
F/m US Treasury 5 Year Note ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. F/m US Treasury 5 Year Note ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 100.0% (100.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). F/m US Treasury 5 Year Note ETF has -3.1% of the portfolio in cash.
Assets Under Management
The fund has $30 million in total assets, which is below the $6 billion average for the Intermediate Government category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
UFIV Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The F/m US Treasury 5 Year Note ETF expense ratio is low compared to funds in the Intermediate Government category. F/m US Treasury 5 Year Note ETF has an expense ratio of 0.15%, which is 43% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. F/m US Treasury 5 Year Note ETF has a portfolio turnover rate of 1037%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 252% for the Intermediate Government category.
Recently, in the month of July 2026, F/m US Treasury 5 Year Note ETF returned -0.6%, which earned it a grade of A, as the Intermediate Government category had an average return of -1.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
F/m US Treasury 5 Year Note ETF has a trailing yield of 3.93%, which is below the 4.79% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
F/m US Treasury 5 Year Note ETF Grades
Year to date, the ETF has returned -0.9%, 0.1 percentage points worse than the category, which translates into a grade of D. The fund has returned 1.6% over the past year (grade of F) and 3.3% over the past three years (grade of D).
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UFIV Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| UFIV Return (NAV) | -0.6% | -0.8% | 1.6% | 3.3% | na | na |
| UFIV Return (Price) | -0.6% | -0.7% | 1.6% | 3.3% | na | na |
| NAV +/- Price Return | 0.009% | -0.056% | -0.002% | 0.023% | na | na |
| Intermediate Government Avg | -1.0% | -0.8% | 2.2% | 3.4% | -0.4% | 1.0% |
| UFIV Grade (NAV) | A | F | F | D | na | na |
| +/- Category (NAV) | 0.4% | 0.0% | -0.6% | -0.1% | na | na |
| UFIV Tax-Cost Ratio | na | na | 1.6% | 1.6% | na | na |
UFIV Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| UFIV Return (NAV) | -0.9% | 6.9% | 1.2% | na | na | na | na | na | na | na | na |
| UFIV Return (Price) | -0.9% | 6.9% | 1.1% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.022% | 0.001% | -0.070% | na | na | na | na | na | na | na | na |
| Intermediate Government Avg | -0.8% | 7.1% | 1.2% | 4.3% | -11.0% | -2.5% | 7.5% | 6.3% | 1.3% | 1.5% | 1.1% |
| UFIV Grade (NAV) | D | D | D | na | na | na | na | na | na | na | na |
| +/- Category | -0.1% | -0.2% | -0.0% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.69 |
| R-Squared: | 89% |
| Standard Deviation: | 4.1% |
| Category Risk Index: | 0.88 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 0.34 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 3.9% |
| Total Assets: | $ 31 Mil |
| Share Class Assets: | $ 31 Mil |
| Turnover: | 1037.0% |
| Expense Ratio: | 0.15% |
| Index Fund: | Yes |
| Index Tracked: | ICE BofA Current 5-Y US Trsy TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 3.4 years | |||
| Average Tenure: 3.4 years | |||
| Managers (Year): Baden Peter (2023), Morris Alexander (2023), Zdunek Marcin (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 4 |
| % in Top 10 Holdings: | 100.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 100.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 3.1% |
| Cash: | -3.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | F/m Investments LLC |
| Phone Number: | 800-617-0004 |
| Website: | www.rbbfund.com |
| Inception Date: | March 27, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.15% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.10% |
