“The Goldman Sachs Access Treasury 0-1 Year ETF, or GBIL, has also seen high inflows, with around $110 million coming in since Oct. 22,” according to Bloomberg.
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The $5.25 billion BIL has an option adjusted duration of just 0.08 years. The $2.45 billion GBIL has an effective duration of 0.39 years.
“The surge of cash comes as the S&P 500 Index has fallen 7 percent in October, putting it on track for its biggest monthly decline since September 2011. As a result, equity investors are turning their eyes to the perceived safety of U.S. government debt. On top of that, fixed-income investors are shortening the duration of their Treasury bets as the Fed continues to raise interest rates,” according to Bloomberg.
For more information on the fixed-income markets, visit our bond ETFs category.