F/m Investments
No source-attributed company facts are available in the supplied material, so the business, products, customer segments, and operating model cannot be described reliably for investment analysis without speculation or inference.
- Company typePrivate
- Founded2022
- HeadquartersWashington, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What F/m Investments does
Source attribution is absent from the supplied material: it contains no WX-prefixed source identifier. Consequently, no source-verified description of F/m Investments' business, products, customer segments, technology, or revenue mechanics can be extracted under the applicable rules.
The available content is an unattributed analytical summary, not a validated source block. The description therefore records a data gap rather than making company-specific claims.
F/m Investments firmographics
Firmographics- Name
- F/m Investments
- Legal name
- F/m Investments, LLC
- Website
- https://fm-invest.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- No source-attributed company facts are available in the supplied material, so the business, products, customer segments, and operating model cannot be described reliably for investment analysis without speculation or inference.
- Ownership category
- akta.pro rank
F/m Investments industry classification
Industry- Product category
- Fixed Income ETF Management
- NAICS
- Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Open-End Investment Funds (525910)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Fixed Income ETFs (Government, Corporate, Munis, TIPS) (FSAAAFAD)
- akta.pro secondary industries
- Fixed Income Mutual Funds (FSAAAEAB), Multi-Asset & Allocation ETFs (Balanced, Target Risk) (FSAAAFAF)
Keywords
Where F/m Investments is headquartered
LocationHeadquarters
- HQ city
- Washington
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
F/m Investments business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- ETF Management Fees: F/m Investments generates revenue through management fees charged on its ETF products. Each ETF has an expense ratio (e.g., TBIL at 0.15%, SGVA actively managed). As assets under management grow, management fee revenue increases proportionally.
- Investment Advisory Services: The firm operates as a registered investment adviser under the Investment Advisers Act of 1940, generating revenue from advisory fees for separately managed accounts and other advisory services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | TBIL - F/m US Treasury 3 Month Bill ETF with 0.15% expense ratio |
| Subscription | Annual | SGVA - F/m Accumulator Ultrashort Treasury ETF actively managed |
| Subscription | Annual | CPAG - F/m Compoundr U.S. Aggregate Bond ETF with 0.31% expense ratio |
| Subscription | Annual | CPHY - F/m Compoundr High Yield ETF with 0.35% expense ratio |
| Subscription | Annual | ZTEN - F/m 10-Year Investment Grade Corporate Bond ETF with 0.15% expense ratio |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
F/m Investments product offering
Product offeringCore offering
F/m Investments is an SEC-registered investment adviser that designs, issues, and manages a platform of more than 20 exchange-traded funds focused on US fixed income, alongside separately managed accounts and mutual funds. Its primary product is the U.S. Benchmark Series of single-security US Treasury ETFs providing precise yield curve exposure from three months to thirty years, complemented by US Credit Series, High Yield, Accumulator (tax-aware total-return), Compoundr (tax-deferral), municipal, and opportunistic income ETFs. The firm also offers WarshGPT, a proprietary retrieval-augmented AI research tool grounded in Federal Reserve Chair Kevin Warsh's public record.
Product overview
F/m Investments is an $18-19 billion fixed income investment firm offering a diversified platform of ETFs, separately managed accounts, and mutual funds. The core offering is the US Benchmark Series, a suite of single-security US Treasury ETFs providing precise yield curve exposure from 3 months to 30 years (TBIL, XBIL, OBIL, UTWO, UTRE, UFIV, USVN, UTEN, UTWY, UTHY). Complementing this are the US Credit Series (ZTWO, ZTRE, ZTEN for investment-grade corporates), High Yield offerings (ZTOP, CPHY), the innovative Accumulator Series (SGVA and upcoming funds) designed to avoid distributions, the Compoundr Series (CPHY, CPAG) for tax-efficient income deferral, plus ZMUN for municipal exposure and ZHOG for opportunistic income. The firm also developed WarshGPT, a proprietary RAG-based AI research tool, and pioneered the first dual share class ETF structure under modern SEC exemptive rules. Additional services include separately managed accounts and mutual funds.
Differentiator
Problem solved
Functional benefit
Brands
- U.S. Benchmark Series: Suite of single-security US Treasury ETFs covering multiple points along the yield curve from 3 months to 30 years.
- U.S. Credit Series
- Accumulator Series
- Compoundr ETFs
Products and services
- F/m US Treasury 3 Month Bill ETF (TBIL) Tracks the Bloomberg US Treasury Bellwether 3M Total Return Index to provide short-duration US Treasury bill exposure with a 0.15% expense ratio; the firm's flagship product with approximately $7.2 billion in assets, designed for advisors and investors seeking cash alternatives to money market funds.
- F/m US Treasury 6 Month Bill ETF (XBIL) Provides exposure to the most recently auctioned outstanding US Treasury bill maturing closest to but not beyond six months from rebalancing; part of the U.S. Benchmark Series for short-duration Treasury exposure.
- F/m US Treasury 12 Month Bill ETF (OBIL) Provides exposure to the most recently auctioned outstanding US Treasury bill maturing closest to but not beyond twelve months from rebalancing; part of the U.S. Benchmark Series.
- F/m US Treasury 2 Year Note ETF (UTWO) Provides exposure to the current 2-year US Treasury note within the U.S. Benchmark Series, tracking the corresponding benchmark Treasury security.
- F/m US Treasury 3 Year Note ETF (UTRE) Provides exposure to the current 3-year US Treasury note within the U.S. Benchmark Series, tracking the corresponding benchmark Treasury security.
- F/m US Treasury 5 Year Note ETF (UFIV) Provides exposure to the current 5-year US Treasury note within the U.S. Benchmark Series, tracking the corresponding benchmark Treasury security.
- F/m US Treasury 7 Year Note ETF (USVN) Provides exposure to the current 7-year US Treasury note within the U.S. Benchmark Series, tracking the corresponding benchmark Treasury security.
- F/m US Treasury 10 Year Note ETF (UTEN) Provides exposure to the current 10-year US Treasury note within the U.S. Benchmark Series, tracking the corresponding benchmark Treasury security.
- F/m US Treasury 20 Year Bond ETF (UTWY) Provides exposure to the current 20-year US Treasury bond within the U.S. Benchmark Series, tracking the corresponding benchmark Treasury security.
- F/m US Treasury 30 Year Bond ETF (UTHY) Provides exposure to the current 30-year US Treasury bond within the U.S. Benchmark Series, tracking the corresponding benchmark Treasury security.
- F/m Ultrashort Treasury Inflation-Protected Security ETF (RBIL) The first ETF designed to provide inflation protection with minimal interest rate risk by holding TIPS with average duration well under one year.
- F/m Accumulator Ultrashort Treasury ETF (SGVA) Actively managed ETF providing ultrashort Treasury exposure with 0–12 month maturities in a tax-aware structure that rotates underlying Treasury ETFs to avoid dividend distributions, allowing returns to compound inside the fund.
- F/m 2-Year Investment Grade Corporate Bond ETF (ZTWO) Designed to equitize 2-year investment grade corporate bonds, tracking the Bloomberg US Liquid Corporate 2 Year Maturity Index with monthly rebalances to maintain the maturity term.
- F/m 3-Year Investment Grade Corporate Bond ETF (ZTRE) Designed to equitize 3-year investment grade corporate bonds, tracking the Bloomberg US Liquid Corporate 3 Year Maturity Index.
- F/m 10-Year Investment Grade Corporate Bond ETF (ZTEN)
- F/m High Yield 100 ETF (ZTOP) Provides diversified exposure to the largest established issuers of US high yield debt, targeting higher income levels with lower volatility than the broader high yield bond market.
- F/m Ultrashort Tax-Free Municipal ETF (ZMUN) Short duration municipal bond ETF providing federally tax-exempt income with limited interest rate sensitivity; invests in currently callable investment grade municipal bonds with duration less than one year.
- F/m Compoundr U.S. Aggregate Bond ETF (CPAG) Passively managed ETF designed to capture total-return performance of the US aggregate bond market while skipping tax drag by tracking the Nasdaq Compoundr U.S. Aggregate Bond Index.
- F/m Compoundr High Yield ETF (CPHY) ETF designed to hold high-yield exposure through a more tax-efficient creation/redemption process, tracking the Nasdaq Compoundr High-Yield Corporate Bond Index and strategically avoiding dividends to defer taxation.
- F/m Opportunistic Income ETF (ZHOG) Actively managed ETF targeting undervalued sectors and securities in the US fixed income space, maximizing total return by trading nimbly across sectors and redeploying resources to capture returns.
- F/m Emerald Special Situations ETF (SPIT) Actively managed, benchmark-insensitive fund targeting companies undergoing transformation events, co-launched with Emerald Advisers. No sector or geographic restrictions, with managers retaining full flexibility.
- WarshGPT Retrieval-augmented AI research tool that answers questions about Federal Reserve Chair Kevin Warsh's public economic views, citing specific sources for every claim and refusing forecasts or recommendations not grounded in his record. Built with LanceDB vector store, BGE embeddings, Claude Opus 4.8, and a corpus of 1,750+ passages including FOMC transcripts, speeches, testimony, essays, and curated quotes.
- Separately Managed Accounts (SMAs) Institutional-grade investment service encompassing fixed income as well as equities, tailored to meet clients' specific investment goals; available to institutional and high-net-worth clients.
- Mutual Funds Professionally managed mutual fund portfolios built around rigorous research and time-tested investment processes, accessible through the dual share class structure.
Quantifiable outcome
- TBIL grew to $7.2 billion in assets in under 4 years since 2022 launch
- +2 more outcomes
Companies that use F/m Investments
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
F/m Investments technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature3 records
F/m Investments partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- The RBB Fund ComplexcoreF/m Investments partnered with The RBB Fund Complex to launch the first multi-share class structure combining a mutual fund share class and an ETF share class, enabled by a modern SEC exemptive order. Alexander Morris, CEO of F/m Investments, and Arnold Reichman, Chairman of the RBB Board, highlighted the collaborative effort that enabled this innovative structure to come to market.
- U.S. Bank Global Fund ServicescoreU.S. Bank Global Fund Services supported the launch of the dual share class structure, providing fund services infrastructure for the historic first trade combining ETF and mutual fund share classes under a modern SEC exemptive order.
- Emerald AdviserscoreEmerald Advisers and F/m Investments co-launched the F/m Emerald Special Situations ETF (ticker: SPIT), an actively managed benchmark-insensitive fund targeting companies undergoing transformation events. Emerald contributes 30 years of history in identifying under-researched growth opportunities while F/m provides distribution and operational infrastructure.
Scale indicators6 records
Recent moves3 records
F/m Investments competitors and assessment
Company assessmentDirect peers
- BondBloxx ETF Trust: Boutique ETF issuer focused on defined-maturity and precision fixed income exposure, directly comparable to F/m's U.S. Credit Series and single-maturity Treasury indexing approach.
- Avantis Investors: Smaller, research-driven asset manager affiliated with Dimensional, with an actively managed ETF platform that shares F/m's profile of differentiated, rules-based product design targeting advisor channels.
- WisdomTree: Mid-sized ETF sponsor with strong fixed income and yield-oriented ETFs, a comparable combination of registered investment adviser structure and innovation-led product launches.
Emerging players
- BetaShares: Australia-based specialist ETF issuer that built a leading emerging-market position through single-issue and thematic ETFs, providing a comparable boutique innovation-led growth model in fixed income and yield strategies.
Broad incumbents
- Invesco (QQQ / BulletShares): Major ETF issuer with defined-maturity BulletShares fixed income products that directly compete with F/m's U.S. Credit Series maturity-laddered corporate bond ETFs.
- BlackRock (iShares): The largest ETF issuer globally, with major fixed income Treasury and IG corporate bond ETFs directly competing with F/m's U.S. Benchmark Series and U.S. Credit Series at scale.
- First Trust: Established mid-size ETF sponsor with active and rules-based fixed income strategies, competing for advisor mindshare in the same fixed income and yield-oriented ETF subsegments.
- Vanguard: Low-cost incumbent ETF sponsor with material fixed income and Treasury exposure, competing directly on price in the cash-alternative and Treasury segments where F/m's TBIL/XBIL/OBIL compete.
- State Street Global Advisors (SPDR): One of the original ETF issuers with a deep fixed income Treasury and corporate bond lineup, and a comparable SEC-registered investment adviser model serving advisor and institutional channels.
- PIMCO: Major fixed income asset manager with a large ETF platform (e.g., MINT, TLT competitor products) and a registered investment adviser structure, directly comparable to F/m's core fixed income ETF focus.
Market position
Strengths5 records
Weaknesses5 records
Key risks7 records
Key highlights7 records
Customer concentration
F/m Investments social profiles
Digital presenceF/m Investments financial estimates
Financial estimateRevenue estimate
Valuation estimate
F/m Investments leadership team
Management profileNumber of profiles
Profiles4 records
F/m Investments funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
F/m Investments M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about F/m Investments
What does F/m Investments do?
F/m Investments is an SEC-registered investment adviser that designs, issues, and manages a platform of more than 20 exchange-traded funds focused on US fixed income, alongside separately managed accounts and mutual funds. Its primary product is the U.S. Benchmark Series of single-security US Treasury ETFs providing precise yield curve exposure from three months to thirty years, complemented by US Credit Series, High Yield, Accumulator (tax-aware total-return), Compoundr (tax-deferral), municipal, and opportunistic income ETFs. The firm also offers WarshGPT, a proprietary retrieval-augmented AI research tool grounded in Federal Reserve Chair Kevin Warsh's public record.
Is F/m Investments a public or private company?
F/m Investments is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was F/m Investments founded?
F/m Investments was founded in 2022. It employs 11 to 50 people.
Where is F/m Investments based?
F/m Investments is headquartered in Washington, United States, in the North America region.
How does F/m Investments make money?
Two revenue lines are on record. ETF Management Fees are the primary driver. The others are investment Advisory Services.
Who are F/m Investments's main competitors?
Direct peers on record are BondBloxx ETF Trust, Avantis Investors and WisdomTree. BetaShares is listed as an emerging player. Broad incumbents are Invesco (QQQ / BulletShares), BlackRock (iShares), First Trust, Vanguard, State Street Global Advisors (SPDR) and PIMCO.
Does F/m Investments have an API?
No public API is recorded for F/m Investments.
What industry is F/m Investments in?
F/m Investments's product category is Fixed Income ETF Management. Its primary akta.pro industry code is FSAAAFAD, Fixed Income ETFs (Government, Corporate, Munis, TIPS), with a secondary code of FSAAAEAB, Fixed Income Mutual Funds. Its NAICS code is 523940 and its SIC code is 6282.