UTWO US Treasury 2 Year Note ETF

ETF 47.52 Delayed

ETF quote, holdings, sector allocation, technicals, and options analytics. Expected move IV rank history Fibonacci levels

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

UTWO $47.52 —
Key stats
$47.52
52-Week Range
$47.27 – $48.70
YTD
-2.17%
IV Rank (30D)
45.99
Straddle Price
$2.08
Open
$47.55
Day Range
$47.50 – $47.57
Volume
116,835
Prev Close
$47.55
About

US Treasury 2 Year Note ETF (UTWO) ETF

No description available.

Exchange
XNAS
Inception
2022-08-08
Has Options
Yes
Fund profile
holdings as of May 31, 2026SEC filingthrough May 2026flows, SEC filings
Taxable Bond Short-Term Treasury#8 of 17 by assets F/m Investments
Expense ratio
0.15%
prospectus, filed Jan 5, 2026
Assets
$439M
SEC filing, May 31, 2026
Trailing yield
3.64%
paid monthly
Average daily volume
$8.0M
30 sessions
Holdings
2
top 10 are 99.7%
Listed
Aug 8, 2022
Nasdaq
Closure risk, 12 months
0.6%
low · model
FrenzyCap ETF score
53
how it is built
Cost70
Liquidity64
Scale61
Diversification0

Moves with. High yield over Treasuries (12% of its variance, beta -0.15); Long Treasuries (6% of its variance, beta 0.02); US dollar (4% of its variance, beta -0.04); US large-cap stocks (4% of its variance, beta 0.03). These factors explain 34% of its daily moves over the last year, so most of what drives this fund is something else.

Stated objective. The investment objective of the F/m US Treasury 2 Year Note ETF (the F/m UST 2Y Note Fund or the Fund) is to seek investment results that correspond (before fees and expenses) generally to the price and yield performance of the Bloomberg US Treasury Bellwether 2Y Total Return USD Unhedged Index (BTB2TRUU) (the Underlying Index). (from the fund's prospectus)

All 2 holdingsFlow historyOverlap toolAll Short-Term Treasury ETFs

Fund flows
through May 2026SEC filings
May 2026
−$3.4M
latest reported month
Latest 3 months
+$31M
+7.2% of assets
Latest 12 months
+$60M
+13.7% of assets
Jun 2025: −$2.9MJul 2025: −$4.3M−$4.3MJulAug 2025: +$968KSep 2025: +$10MSepOct 2025: +$2.0MNov 2025: +$1.9MNovDec 2025: +$2.9MJan 2026: +$10MJanFeb 2026: +$7.8MMar 2026: +$26M+$26MMarApr 2026: +$9.2MMay 2026: −$3.4MMay
View as a table
Net flows of UTWO by month, Jun 2025 to May 2026
MonthNet flow
May 2026−$3.4M
Apr 2026+$9.2M
Mar 2026+$26M
Feb 2026+$7.8M
Jan 2026+$10M
Dec 2025+$2.9M
Nov 2025+$1.9M
Oct 2025+$2.0M
Sep 2025+$10M
Aug 2025+$968K
Jul 2025−$4.3M
Jun 2025−$2.9M

Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 46 months ago

Similar funds
FundOverlapFeeAssets1Y
VGSHVanguard Short-Term Treasury ETF—0.03%$35.1B−2.2%compare
SHYiShares 1-3 Year Treasury Bond ETF—0.15%$27.1B−2.1%compare
SCHOSchwab Short-Term U.S. Treasury ETF—0.03%$15.6B−2.3%compare
SPTSState Street SPDR Portfolio Short Term Treasury ETF—0.03%$7.2B−2.3%compare
TBLLInvesco Short Term Treasury ETF—0.08%$2.7B−0.4%compare

The largest other funds in the Short-Term Treasury category.

ETF Profile
holdings as of 2026-05-31
Holdings
2
AUM
$437.1M
Provider
Nport
Inception
2022-08-08
Exchange
XNAS
Data As Of
2026-05-31
Expense Ratio
0.15%
Dividend Yield
3.64%
Distribution
Monthly
Recent distributions
Ex-Date Pay Date Amount Type
2026-09-28 2026-09-29 $0.1584 CD
2026-08-27 2026-08-28 $0.1641 CD
2026-07-28 2026-07-29 $0.1588 CD
2026-06-29 2026-06-30 $0.1526 CD
2026-05-28 2026-05-29 $0.1445 CD
2026-04-28 2026-04-29 $0.1502 CD
Asset Allocation
Top Holdings
top 2 of 2 holdings
Symbol Name Weight % Asset Class Country
— US TREASURY N/B 99.68% Debt US
— U.S. Bank Money Market Deposit Account 0.00% Short-term investment US
Non-Equity Breakdown
US Treasury 2 Year Note ETF · NPORT-P period 2026-05-31 (filed 2026-07-28)
Net assets: $439M · 2 total positions · equity 0.00% · non-equity 99.68%
Non-equity holdings — 2 positions, 99.68% of NAV
Category Weight Value Positions
US Treasury 99.68% $437.1M 1
Short-term investment 0.00% $1267 1
Chart
Seasonality
'22'23'24'25'26Avg
Jan--0.55%0.50%0.42%-0.14%0.33%
Feb---1.08%-0.54%0.77%0.32%-0.13%
Mar--1.82%0.08%0.37%-0.53%0.43%
Apr--0.09%-0.24%0.81%-0.17%0.12%
May---0.27%0.55%-0.06%-0.23%-0.00%
Jun---0.72%0.47%0.64%-0.21%0.05%
Jul--0.33%1.20%-0.03%-0.16%0.33%
Aug-0.17%0.44%0.72%0.35%-0.21%0.23%
Sep-0.99%-0.08%0.66%0.30%-0.81%-0.18%
Oct-0.43%0.41%-0.75%0.20%0.21%*-0.07%
Nov0.62%0.76%0.34%0.44%--0.54%
Dec-0.45%0.45%-0.10%-0.14%---0.06%
Total-1.42%2.70%2.91%4.14%-1.92%1.28%
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $47.46
SMA 50: $47.66
SMA 200: $48.11
Current: $47.52
EMA 12: $47.51
EMA 26: $47.53
MACD: -0.0197 | Signal: 0.0252
BEARISH
ADX (14): 19.76
RANGE
+DI: 22.26
−DI: 23.46

Momentum Oscillators

RSI (14): 48.95
NEUTRAL
Stoch %K: 74.99
Stoch %D: 81.58
Williams %R: -34.25

Volume & Volatility

BB Upper: $47.61
BB Lower: $47.31
NEUTRAL
OBV: 3,937,414
Vol SMA 20: 189,862
Vol ROC: 59.07%
ATR: $0.07
True Range: $0.07
HV 20: 2.2%
HV 30: 2.1%
HV 60: 1.8%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis

LLM Stock Analysis Report

Executive Summary

Overall assessment: NEUTRAL (Confidence level: 6/10)

Key drivers and primary risks:

  • Technical indicators suggest a neutral market, with no clear trend or momentum signals.
  • Recent news headlines have been neutral, providing no significant catalysts for the stock price.
  • The stock has low volatility, moving less than the market.

Investment thesis: UTWO's recent performance is characterized by a lack of strong directional movement. The stock is trading within a range, with no clear signs of breakouts or breakdowns. This neutral environment may continue in the near term, pending new catalysts or changes in market conditions.

Recent news sentiment impact: Neutral news headlines have not significantly impacted the stock price.

Technical Analysis

Trend Direction: Neutral (Short-term), Neutral (Medium-term), and Neutral (Long-term)

Support/Resistance Levels:

  • Lower Bollinger Band: $47.70
  • Middle Band: $47.92
  • Upper Bollinger Band: $48.15
  • SMA 20: $47.92
  • SMA 50: $47.94
  • SMA 200: $48.28

Momentum Signals:

  • RSI (14): 37.97 (Neutral)
  • MACD: -0.05 / Signal: -0.02 / Histogram: -0.03 (Bearish)
  • Bollinger Bands: Neutral signal

Volume Analysis: Volume SMA 20: 65845.09, On-Balance Volume (OBV): 2880209.35, and Volume Rate of Change: -18.01%

News & Sentiment Analysis

Recent Headlines Summary: All recent headlines are neutral, providing no significant catalysts for the stock price.

Sentiment Assessment: Neutral sentiment from recent news headlines.

Catalyst Identification: None identified in recent news headlines.

Market Narrative: The market narrative is neutral, with no clear direction or momentum signals.

Risk & Volatility Assessment

Beta Interpretation: Low risk relative to the market (beta: 0.02).

Volatility Regime: Current volatility is low, moving less than the market.

Options Market Signals:

  • IV Rank: 33.0% (Medium - shows if volatility is historically high/low)
  • Current IV: 30.0%
  • Expected Move: $2.35 (42 DTE), 7-DTE: $2.15
  • Volume Flow: 0 calls vs 0 puts
  • Open Interest: 0 calls vs 0 puts
  • Put/Call Volume Ratio: 0.00 (Neutral sentiment)
  • Market Expectation: Options market pricing $2.35 move by expiration

Downside Protection: Support levels and risk management considerations are highlighted above.

Market Context & Positioning

Sector Performance: Neutral performance within the sector.

Institutional Activity: No significant institutional activity signals.

Correlation Analysis: The stock moves less than the market, indicating low correlation.

Relative Valuation: UTWO's position within its trading range is neutral.

Key Levels & Action Items

Critical Price Levels:

  • Lower Bollinger Band: $47.70
  • Middle Band: $47.92
  • Upper Bollinger Band: $48.15
  • SMA 20: $47.92
  • SMA 50: $47.94
  • SMA 200: $48.28

Breakout/Breakdown Levels: None identified.

Time-Sensitive Catalysts: Earnings dates are not available.

Risk Management: Stop-loss levels and position sizing considerations are highlighted above.

Please note that this analysis is based on the provided data, and it's essential to consider additional factors, such as industry trends, company-specific news, and overall market conditions, for a more comprehensive understanding of UTWO's performance.

Generated
News
All UTWO news →
Showing 1–10 of 48
Page 1 of 5

UTWO Options Activity & IV Rank

UTWO IV rank history, 52-week IV rank and IV percentile →

Volatility Metrics

Current IV: 10.1%
7-DTE IV: —
Expected Move: $2.08
7-DTE Move: $2.08
Days to Exp: 30 (2026-11-20)

Options Flow

Call Volume: 0
Put Volume: 3
P/C Volume: —
Call OI: 0
Put OI: 2
P/C OI: —
Total OI: 2

ATM Options Pricing

ATM Call: $0.90
ATM Put: $1.18
Call %: 1.9%
Put %: 2.5%

Chain Summary

Chain Volume: 19
Chain OI: 22
Last Updated: 10/21/2026
Spread Scanner GPU
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score (GPU scanner)

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Enter a ticker to scan for optimal spread opportunities.

Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.

Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d —
— pts EXTREME
as of Oct 21 · No data
30 DTE / 10d —
— pts EXTREME
as of Oct 21 · ATM 19.6% / Wing —

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Enter a ticker to render the implied volatility surface.

Volatility Smile

Enter a ticker to render the implied volatility smile.

IV Rank (7 DTE)
IV Rank (30 DTE)46.0MediumOct 21
Straddle Price (30 DTE)$2.08Oct 21
Beta Analysis

Risk Metrics

Beta: 0.0268
Alpha: -2.79%
Correlation: 0.2054
R-Squared: 4.2%
Stock Volatility: 1.7%
Market Volatility: 12.7%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Beta & Alpha Over Time

UTWO Institutional Ownership (13F)

Latest filings — 2026-09-30

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

79 filers5,789,296 shares$277.55M value
# Filer Shares Value % of Total % of Float Period
1 Morgan Stanley Custodian 1,573,368 $75.46M 27.19% — 2026-06-30
2 Hapanowicz & Associates Financial Services, Inc 740,232 $35.50M 12.79% — 2026-06-30
3 LPL Financial LLC Custodian 692,082 $33.19M 11.96% — 2026-06-30
4 Odyssey Group, LLC 438,675 $21.04M 7.58% — 2026-06-30
5 Tidal Investments LLC 285,251 $13.68M 4.93% — 2026-06-30
6 Raymond James Financial, Inc. Custodian 264,427 $12.68M 4.57% — 2026-06-30
7 Envestnet Asset Management, Inc. 215,713 $10.35M 3.73% — 2026-06-30
8 MML INVESTORS SERVICES, LLC 213,685 $10.25M 3.69% — 2026-06-30
9 Federation des caisses Desjardins du Quebec Custodian 124,771 $5.98M 2.16% — 2026-06-30
10 Luminist Capital LLC 116,753 $5.60M 2.02% — 2026-06-30
11 UBS Group AG Custodian 90,673 $4.35M 1.57% — 2026-06-30
12 Stifel Financial Corp Custodian 86,607 $4.15M 1.50% — 2026-06-30
13 Insight Wealth Partners, LLC 73,213 $3.51M 1.27% — 2026-06-30
14 Janney Montgomery Scott LLC 63,579 $3.05M 1.10% — 2026-06-30
15 Marshall & Sterling Wealth Advisors Inc. 59,825 $2.87M 1.03% — 2026-06-30
16 NewEdge Advisors, LLC 55,680 $2.67M 0.96% — 2026-06-30
17 Weaver Consulting Group 55,000 $2.60M 0.94% — 2026-09-30
18 EP Wealth Advisors, LLC 53,992 $2.59M 0.93% — 2026-06-30
19 Wealthcare Advisory Partners LLC 44,237 $2.12M 0.76% — 2026-06-30
20 Stratos Wealth Partners, LTD. 43,072 $2.07M 0.74% — 2026-06-30
21 Wells Fargo & Company Custodian 42,591 $2.04M 0.74% — 2026-06-30
22 INTEGRITY ALLIANCE, LLC. 37,227 $1.79M 0.64% — 2026-06-30
23 HighRoad Wealth Advisors, LLC 31,529 $1.49M 0.54% — 2026-09-30
24 COMMONWEALTH EQUITY SERVICES, LLC 29,534 $1.42M 0.51% — 2026-06-30
25 KPP Advisory Services LLC 28,869 $1.38M 0.50% — 2026-06-30
# Filer Notional Value % of Total Period
# Filer Notional Value % of Total Period
Short Interest & Float

Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.

Metric definitions
  • Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
  • SI % of Float — short interest / free float. The key crowding metric.
  • Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
  • Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
  • Free Float — shares available for public trading (total shares minus insider / restricted).
  • Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
  • SI % of Float < 5% — typical, no particular signal.
  • 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
  • 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
  • >30% — extreme; borrow is likely expensive and squeeze risk is material.
  • Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
  • Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
  • A sudden drop in SI after a rally may indicate a squeeze in progress.

Short interest is reported mid-month and end-of-month; short volume is daily.

Short Interest
53.96K
SI % of Float
—
Days to Cover
1.00
Short Vol Ratio
66.2%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-21
Constituent Performance

Click any bar to view the full quote for that stock.

Constituents
Symbol Name Weight % Price 1 Day 1 Week 1 Month