F/m US Treasury 3 Month Bill Fund
F/m US Treasury 3 Month Bill Fund (NASDAQ: TBIL) is an exchange-traded fund listed on NASDAQ, trading at $49.84 (about ₹4,788 a unit) as of 29 Sep 2026, 4:00 PM ET. It has an expense ratio of 0.15% and holds 2 securities. Indian residents can buy TBIL through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$49.83
Today's high
$49.84
52 week low
$49.82
52 week high
$50.02
TBIL opened at $49.84, closed previously at $49.83, and has traded between $49.82 and $50.02 over the past 52 weeks.
About
TBIL is part of the first single-bond ETF suite. The fund is a tool used in portfolio management. The fund tracks an index that holds just the on-the-run 3-month US T-Bills, which are the most recently issued and most liquid. The index purchases a single issue which will be held for a full month. At each month-end rebalancing, the underlying issue is sold and rolled into a newly selected issue, given that there has been a new public sale or auction by the US Government for 3-month T-Bills. The fund pays transaction costs when it buys and sells securities. These costs are not reflected in the annual fund operating expenses and should be expected. The fund will experience a very high turnover. This may result in higher taxes, as compared to other ETFs, if the shares are held in a taxable account. Prior to April 7, 2025, the fund tracked the ICE BofA US 3-Month Treasury Bill Index. Effective July 1, 2025, the fund added F/m to its name, and on February 10, 2026, replaced ETF with fund.
Key statistics
Expense ratio
0.15%
Assets (AUM)
$7.4B
Holdings
2
NAV
$49.83
Avg. volume
—
1-year price change
-0.32%
5-year price change
—
Price change excludes dividends.
Top 2 holdings
TBIL holds 2 securities in total. These 2 are 100.0% of the fund.
How to buy TBIL from India
Indian residents can buy TBIL units through Paasa in three steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers.
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search TBIL and buy
Find the fund by its ticker, TBIL, on NASDAQ, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Read the full guide: how to invest in TBIL from India
Trading and taxes when buying TBIL from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- Taxable in IndiaGains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
Custody. Units are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
FAQs
What is the TBIL price today?
F/m US Treasury 3 Month Bill Fund (TBIL) last traded at $49.84 on NASDAQ, as of 29 Sep 2026, 4:00 PM ET. That is ₹4,788 a unit at the 29 Sep 2026 USD/INR rate.
When does TBIL trade, in Indian time?
NASDAQ trades 7:00 pm – 1:30 am IST, so the close lands after midnight. The window shifts to 8:00 pm – 2:30 am IST when the US is on standard time. Orders can only execute during that window.
How big is TBIL, and what does it cost to hold?
F/m US Treasury 3 Month Bill Fund manages about $7.4B. Its expense ratio is 0.15% a year, deducted inside the fund. It launched in 2022.
What are TBIL's largest holdings?
The top two are United States Treasury Bill 12/24/2026 (100.3%) and Cash & Other. TBIL's 2 largest positions make up 100.0% of the fund.
Does TBIL pay dividends?
Yes. TBIL is a distributing fund and pays the dividends from its holdings out in cash. In India they are taxed at your slab rate.
How are gains on TBIL taxed in India?
Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
Can I buy fractional units of TBIL?
Yes. You can buy TBIL by amount rather than by whole unit, and there is no minimum trade size.
How has TBIL performed?
TBIL's price is down 0.3% over the past year. These figures are price change only and exclude dividends; past performance does not guarantee future returns.