F/m Investments has introduced TBFMX, a mutual fund share class of its flagship ETF, TBIL, marking the first such dual-share class structure approved under a specific SEC exemption since Vanguard’s dual share classes launched in 2001. This innovation allows investors to utilize the same underlying 3-month Treasury bill strategy in both brokerage and retirement accounts, addressing past discrepancies in performance tracking, fees, and investment wrappers.
TBIL is F/m’s largest ETF with $6.4 billion in net assets, and the addition of TBFMX enables financial advisors to offer a unified investment strategy across different account types. F/m, founded in 2018, currently manages approximately $19 billion in assets, primarily focused on fixed income.
