TBLLvsGMMFETF Comparison
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Invesco Treasury Collateral ETF (TBLL) and iShares Government Money Market ETF (GMMF) belong to the same industry segment: Money Market Bonds. TBLL's top 1 sector exposures are Sovereign. In contrast, GMMF's top sector exposures are Sovereign and Government Agencies. TBLL is less expensive with a Total Expense Ratio (TER) of 0.08%, versus 0.2% for GMMF. TBLL is up 2.87% year-to-date (YTD) with +$613M in YTD flows. GMMF performs better with 2.89% YTD performance, and +$100M in YTD flows. Run a side-by-side ETF comparison of TBLL and GMMF below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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TBLL vs GMMF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/26/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TBLL GMMF | +0.34%+0.30% | +0.93%+0.90% | +2.87%+2.89% | +3.59%+3.58% | +13.92%n/a | +19.62%n/a |
| Flows | TBLL GMMF | +$224M-$1K | +$235M+$9M | +$613M+$100M | +$655M+$111M | +$1.38B- | +$2.16B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TBLL GMMF | +0.14%+0.10% | +0.13%+0.10% | +0.18%n/a | +0.23%n/a |
| Max drawdown | TBLL GMMF | n/an/a | n/an/a | n/an/a | -0.15%n/a |
| Max drawdown duration | TBLL GMMF | n/an/a | n/an/a | n/an/a | 224dn/a |
Trading data
TBLL | GMMF | |
Last sale 10/27/2026 at 1:30 PM | $105.56 | |
| Previous close 10/26/2026 | $105.55 | |
| Consolidated volume 10/26/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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GMMF
is actively managed and doesn’t replicate an indexTBLL | GMMF | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/27/2026 at 1:30 PM
Live
Closed
TBLL | GMMF | |
|---|---|---|
| Last price | $105.56 | – |
| 1D performance | +0.01% | – |
| AuM | $2.86 B | $191.56 M |
| E/R | 0.08% | 0.2% |
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Exposure
Countries
TBLL
USA
100%
Other
-0%
GMMF
USA
92.27%
Other
7.73%
Sectors
TBLL
Sovereign
100%
Other
-0%
GMMF
Sovereign
76.23%
Government Agenci.
16.05%
Other
7.73%
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Diversification
TBLL
Total weight of top 15 holdings out of 15
30.78%
GMMF
Total weight of top 15 holdings out of 15
64.88%
Top 15 holdings
Data as of August 31, 2026
TBLL
USA, Bills 0% 8sep2026, USD (119D)
2.79%
USA, Bills 0% 3sep2026, USD (364D)
2.30%
USA, Bills 0% 17sep2026, USD (182D)
2.19%
USA, Bills 0% 17nov2026, USD (119D)
2.12%
USA, Bills 0% 10sep2026, USD (182D)
2.01%
USA, Bills 0% 8oct2026, USD (182D)
1.97%
USA, Bills 0% 15oct2026, USD (182D)
1.97%
USA, Bills 0% 22oct2026, USD (182D)
1.96%
USA, Bills 0% 15sep2026, USD (119D)
1.93%
USA, Bills 0% 3nov2026, USD (119D)
1.92%
USA, Bills 0% 13oct2026, USD (119D)
1.92%
USA, Bills 0% 10nov2026, USD (119D)
1.92%
USA, Bills 0% 20oct2026, USD (119D)
1.92%
USA, Bills 0% 27oct2026, USD (119D)
1.92%
USA, Bills 0% 24nov2026, USD (119D)
1.92%
GMMF
USA, Bills 0% 22sep2026, USD (119D)
10.05%
USA, Bills 0% 1sep2026, USD (119D)
8.50%
USA, Bills 0% 1oct2026, USD (364D)
8.46%
USA, Bills 0% 24sep2026, USD (182D)
8.09%
USA, Bills 0% 6oct2026, USD (119D)
7.73%
USA, Bills 0% 15sep2026, USD (119D)
5.61%
USA, Bills 0% 29sep2026, USD (119D)
4.19%
USA, Bills 0% 8sep2026, USD (119D)
2.10%
USA, Bills 0% 28jan2027, USD (182D)
1.91%
USA, Notes FRN 30apr2028, USD (BB-2028)
1.84%
USA, Bills 0% 3sep2026, USD (364D)
1.70%
USA, Bills 0% 17nov2026, USD (119D)
1.35%
US912797WF00
1.25%
Federal Farm Credit Banks, FRN 20oct2026, USD
1.05%
US3133EWYH78
1.05%
Frequently asked questions about TBLL and GMMF
How have the TBLL and GMMF ETFs performed in 2026?
As of October 26, 2026, TBLL is up 2.87% year-to-date (YTD), while GMMF has returned 2.89%. That puts GMMF better performer ahead so far this year.
Which ETF is attracting more investor money: TBLL or GMMF?
Year-to-date, the TBLL ETF saw +$613M in flows, compared to +$100M for GMMF.
Which ETF is more volatile: TBLL or GMMF?
Over the past year, TBLL had a volatility of 0.13%, while GMMF experienced 0.1%.
Which ETF is bigger: TBLL or GMMF?
As of October 26, 2026, TBLL holds $2.86 B in assets under management (AUM), while GMMF manages $191.56 M.
What sectors do the TBLL and GMMF ETFs invest in?
TBLL leans toward sectors like Sovereign. Meanwhile, GMMF focuses on Sovereign and Government Agencies.
What are the top holdings of the TBLL ETF and GMMF ETF?
TBLL top holdings include USA, Bills 0% 8sep2026, USD (119D), USA, Bills 0% 3sep2026, USD (364D) and USA, Bills 0% 17sep2026, USD (182D). GMMF holds in its top three: USA, Bills 0% 22sep2026, USD (119D), USA, Bills 0% 1sep2026, USD (119D) and USA, Bills 0% 1oct2026, USD (364D).
Which ETF is more diversified: TBLL or GMMF?
TBLL holds 86 securities with 30.78% of its assets in the top 15. GMMF has 153 securities and a top 15 weight of 64.88%.
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