Key Points Dry powder is money that is ready when an opportunity shows up, so stability and liquidity matter more than chasing yield. Ultra-short Treasury bill exposure is designed to behave much closer to cash while still paying serious interest in the current economy. 10 stocks we like better than iShares Trust - iShares 0-3 Month Treasury Bond ETF › I love the idea of "dry powder." I love it a little less when I notice my IRA "cash" is earning approximately a shrug. So I went looking for a sma ...