Core Viewpoint - The F/m US Treasury 3 Month Bill ETF (NASDAQ:TBIL) is a straightforward investment vehicle primarily holding Treasury bills, offering liquidity and low duration risk, making it a suitable cash substitute rather than a traditional investment [1][3][12]. ETF Overview - TBIL holds a significant amount of U.S. Treasury bills, with the largest holding being a bill maturing on December 26, 2025, valued at approximately $5.04 billion, accounting for 82.71% of the total market value [2]. - The ETF also includes smaller holdings in Treasury bills maturing in January 2026 and a minimal cash component [2]. Investment Strategy - TBIL is recommended as a cash substitute due to its steady price and high liquidity, making it preferable to keeping cash in a checking account [12]. - The ETF provides monthly dividend payments, which enhance its appeal as a cash management tool [3][12]. Comparison with Other ETFs - TBIL is compared to other similar Treasury ETFs, such as iShares 0-3 Month Treasury Bond ETF (SGOV), iShares Short Treasury Bond ETF (SHV), and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL), which offer similar benefits [9][10]. - The expense ratio of TBIL is noted as a potential drawback if it cannot cover its costs, particularly in a low-interest-rate environment [5]. Cash Management Insights - The ETF is viewed as an efficient way to manage idle cash, providing a safe and liquid option for personal or business expenses without the need for extensive market timing [14][15][16]. - It allows investors to maintain flexibility with their cash, enabling them to wait for investment opportunities while still earning a yield [17].