FPASvsGOVTETF Comparison
VS
FPA Short Duration Government ETF (FPAS) belongs to the US Aggregate Bonds segment. iShares U.S. Treasury Bond ETF (GOVT) is part of the US Government Bonds segment. FPAS's top 1 sector exposures are Sovereign. In contrast, GOVT's top sector exposures are Sovereign and Non-Corporate. FPAS is more expensive with a Total Expense Ratio (TER) of 8.9%, versus 0.05% for GOVT. FPAS is down -1.99% year-to-date (YTD) with +$12M in YTD flows. GOVT performs better with -1.66% YTD performance, and +$10.63B in YTD flows. Run a side-by-side ETF comparison of FPAS and GOVT below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
FPAS vs GOVT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FPAS GOVT | +0.45%-0.44% | -1.41%-1.49% | -1.99%-1.66% | -1.93%-2.04% | n/a+12.92% | n/a-3.84% |
| Flows | FPAS GOVT | +$2M+$864M | +$5M-$428M | +$12M+$10.63B | +$12M+$13.10B | -+$19.46B | -+$31.22B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FPAS GOVT | +3.49%+3.86% | +3.17%+3.57% | n/a+4.65% | n/a+5.68% |
| Max drawdown | FPAS GOVT | -2.71%-2.85% | -4.18%-4.44% | n/a-4.87% | n/a-16.15% |
| Max drawdown duration | FPAS GOVT | 52d55d | 229d232d | n/a318d | n/a1779d |
Trading data
FPAS | GOVT | |
Last sale 10/19/2026 at 1:30 PM | $23.97 | $22.01 |
| Previous close 10/19/2026 | $23.97 | $22.08 |
| Consolidated volume 10/19/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 20, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
FPAS
is actively managed and doesn’t replicate an indexFPAS | GOVT | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 10/19/2026 at 1:30 PM
Live
Closed
FPAS | GOVT | |
|---|---|---|
| Last price | $23.97 | $22.01 |
| 1D performance | +0.00% | -0.32% |
| AuM | $15.59 M | $42.28 B |
| E/R | 8.9% | 0.05% |
Characteristics
FPAS | GOVT | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | First Pacific Advisors | iShares |
| Benchmark | - | ICE US Treasury Core Bond Index |
| N° of holdings | 3 | 218 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 31, 2024 | February 14, 2012 |
| ESG | No | No |
Advertisement
Exposure
Countries
FPAS
USA
97.99%
Other
2.01%
GOVT
USA
99.58%
Other
0.42%
Sectors
FPAS
Sovereign
97.99%
Other
2.01%
GOVT
Sovereign
98.85%
Other
1.15%
Advertisement
Diversification
FPAS
Total weight of top 3 holdings out of 3
97.99%
GOVT
Total weight of top 15 holdings out of 15
26.71%
Top 15 holdings
Data as of August 31, 2026
FPAS
USA, Notes 4.125% 30jun2031, USD (AA-2031)
57.93%
USA, Notes 4.125% 31may2031, USD (Z-2031)
22.29%
USA, Notes 4.375% 31jul2031, USD (AB-2031)
17.77%
GOVT
USA, Notes 1.375% 15nov2031, USD (F-2031)
5.28%
USA, Notes 2.625% 15feb2029, USD (B-2029)
2.96%
USA, Notes 3.125% 15nov2028, USD (F-2028)
2.10%
USA, Notes 2.75% 15feb2028, USD (B-2028)
1.93%
USA, Notes 2.875% 15may2028, USD (C-2028)
1.63%
USA, Bonds 2.5% 15may2046, USD
1.51%
USA, Bonds 2.75% 15nov2042, USD
1.49%
USA, Bonds 6.125% 15nov2027, USD
1.40%
USA, Bonds 3.75% 15nov2043, USD
1.39%
USA, Notes 2.25% 15nov2027, USD (F-2027)
1.37%
USA, Bonds 1.875% 15feb2051, USD
1.34%
USA, Notes 4% 31may2028, USD (BC-2028)
1.21%
USA, Notes 2.375% 15may2029, USD (C-2029)
1.08%
USA, Notes 4% 31may2030, USD (Z-2030)
1.02%
USA, Notes 3.875% 31mar2028, USD (AZ-2028)
0.99%
Frequently asked questions about FPAS and GOVT
How have the FPAS and GOVT ETFs performed in 2026?
As of October 16, 2026, FPAS is down -1.99% year-to-date (YTD), while GOVT has lost -1.66%. That puts GOVT better performer ahead so far this year.
Which ETF is attracting more investor money: FPAS or GOVT?
Year-to-date, the FPAS ETF saw +$12M in flows, compared to +$10.63B for GOVT.
Which ETF is more volatile: FPAS or GOVT?
Over the past year, FPAS had a volatility of 3.17%, while GOVT experienced 3.57%.
Which ETF is bigger: FPAS or GOVT?
As of October 16, 2026, FPAS holds $15.59 M in assets under management (AUM), while GOVT manages $42.28 B.
What sectors do the FPAS and GOVT ETFs invest in?
FPAS leans toward sectors like Sovereign. Meanwhile, GOVT focuses on Sovereign.
What are the top holdings of the FPAS ETF and GOVT ETF?
FPAS top holdings include USA, Notes 4.125% 30jun2031, USD (AA-2031), USA, Notes 4.125% 31may2031, USD (Z-2031) and USA, Notes 4.375% 31jul2031, USD (AB-2031). GOVT holds in its top three: USA, Notes 1.375% 15nov2031, USD (F-2031), USA, Notes 2.625% 15feb2029, USD (B-2029) and USA, Notes 3.125% 15nov2028, USD (F-2028).
Which ETF is more diversified: FPAS or GOVT?
FPAS has 3 securities. GOVT has 219 securities and a top 15 weight of 26.71%.
Advertisement
Latest news about FPAS & GOVT
The Weekly ETF Market Monitor (August 24-28, 2026)
August 31, 2026
GOVT
How Investors can Maximize Tax Efficiency with Income ETFs
July 22, 2026
GOVT
ETF Model Portfolios: The Cockroach Portfolio
March 20, 2026
GOVT
Investors Hate TreasuryDirect: These Treasury ETFs Offer a Solution
November 19, 2024
GOVT
Advertisement
3 Famous Investment Portfolios (And How to Make Them with ETFs)
February 8, 2024
GOVT
3 Famous Investment Portfolios (And How to Make Them with ETFs)
February 8, 2024
GOVT
2 Potential Ways Investors Can Use the New Spot Bitcoin ETFs
January 31, 2024
GOVT
ETF Insights: Top 5 Fund Flows and Segments for March 2023
April 13, 2023
GOVT
Advertisement
