The Laddered T-Bill ETF (TLDR)

The Laddered T-Bill ETF is a fixed income fund that invests in short-term U.S. Treasury bills arranged in a ladder of staggered maturities.

As bills in the ladder mature, the proceeds are reinvested in new bills at the longer end of the ladder, keeping the portfolio's maturity profile roughly constant and its interest income in line with current short-term rates. Because it holds only short-dated U.S. government obligations, the fund's value is relatively insensitive to changes in interest rates, and it is commonly used for cash management.