# Treasury vs. Corporate Bond ETFs by the Numbers: Assets, Fees and Flows

Source: https://www.vistashares.com/treasury-vs-corporate-bond-etfs-by-the-numbers/
Published: 2026-11-13 | Updated: 2026-11-13

By Adam Patti, Chief Executive Officer, VistaShares | November 2026

Treasury and other government bond ETFs lend to the U.S. government; corporate bond ETFs lend to companies. That difference in borrower drives most of what separates them, from risk to cost. In the numbers, government bond funds are split by maturity and charge very little, while corporate funds are concentrated in one large segment and cost more. This page compares the two with dated figures on fund counts, assets, fees and recent flows.

Figure | Government bond ETFs | Corporate bond ETFs |

Funds tracked by ETFIQ (Nov 12, 2026) | 21 short term, 29 intermediate, 27 long term | 72 investment grade |

Combined net assets (Nov 12, 2026) | $109.6 billion short, $158.7 billion intermediate, $92.5 billion long | $187.8 billion |

Median yearly fee, per prospectus (Nov 12, 2026) | 0.07% in each of the three | 0.18% |

Largest single fund, net assets | $46.6 billion, long term (Nov 12, 2026) | $68.6 billion (Oct 31, 2026) |

Net flows, week to Nov 11, 2026 | $279 million in short, $99 million out intermediate, $758 million out long | $1.8 billion in, 32 of 72 funds counted |

What the segment must hold, ETFIQ rule (Nov 12, 2026) | At least 90% in bonds backed by the U.S. government or its agencies | More than 65% in investment-grade U.S. dollar corporate bonds |

Related segment: funds and net assets (Nov 12, 2026) | Government mortgage-backed: 16 funds, $86.8 billion | High yield: 100 funds, $121.6 billion |

Related segment: median yearly fee (Nov 12, 2026) | 0.23% for government mortgage-backed | 0.40% for high yield |

Sources: ETFIQ bond segment pages, data as of Nov 12, 2026, flows as of Nov 11, 2026: [short-term government](https://etfiq.com/bonds/government-short/), [intermediate-term government](https://etfiq.com/bonds/government-intermediate/), [long-term government](https://etfiq.com/bonds/government-long/), [corporate](https://etfiq.com/bonds/corporate/), [government mortgage-backed](https://etfiq.com/bonds/government-mortgage/) and [high yield](https://etfiq.com/bonds/high-yield/). Flows count only funds with daily share data.

## What separates a Treasury ETF from a corporate bond ETF?

ETFIQ groups Treasury ETFs within three government bond segments, sorted by maturity. A fund qualifies when at least 90% of its bonds are backed by the U.S. government or its agencies. Funds with Treasury in their names hold almost all of the assets in these segments, though some funds also hold agency debt. Agency mortgage funds have a [segment of their own](https://etfiq.com/bonds/government-mortgage/): 16 funds holding $86.8 billion, at a median fee of 0.23%. Its corporate bond segment holds funds with more than 65% in investment-grade U.S. dollar corporate bonds, at a duration near the core bond market's. Lower-rated corporate debt sits in a separate high yield segment.

The borrower sets the main risk. Treasury bonds carry the backing of the U.S. government, so their prices move mostly with interest rates. Corporate bonds also carry credit risk, the chance that a company's ability to repay weakens, and they pay more interest to compensate. Our article on [bond ETFs](https://www.vistashares.com/bond-etfs-explained/) explains the main types, and [stock vs. bond ETFs by the numbers](https://www.vistashares.com/stock-vs-bond-etfs-by-the-numbers/) puts the whole bond category in context.

## How many funds are there, and how large?

ETFIQ tracked 77 government bond ETFs across its three maturity segments as of November 12, 2026: [21 short term](https://etfiq.com/bonds/government-short/), [29 intermediate](https://etfiq.com/bonds/government-intermediate/) and [27 long term](https://etfiq.com/bonds/government-long/). Together they held about $361 billion, led by the intermediate segment at $158.7 billion. It tracked [72 corporate bond ETFs](https://etfiq.com/bonds/corporate/) holding $187.8 billion.

The largest corporate bond ETF held $68.6 billion as of October 31, 2026. The largest government bond ETF, a long-term fund, held $46.6 billion as of November 12, 2026. Treasury bills are counted elsewhere: ETFIQ places very short Treasury bill funds in its [cash and ultrashort segment](https://etfiq.com/bonds/cash-ultrashort/), which held $443.1 billion across 76 funds, some of which also hold corporate debt.

## How do fees compare?

Government bond ETFs are among the cheapest funds in the market. The median fee was [0.07% a year](https://etfiq.com/bonds/government-intermediate/) in each of the three maturity segments as of November 12, 2026. The median corporate bond ETF charged [0.18%](https://etfiq.com/bonds/corporate/), and the median high yield fund [0.40%](https://etfiq.com/bonds/high-yield/).

The gap reflects the work involved. A Treasury index has relatively few issues, all from one borrower, and they trade easily. A corporate index holds bonds from hundreds of companies with different credit profiles, which costs more to manage and trade. ICI put the asset-weighted average expense ratio for all index bond ETFs at 0.09% in 2025.[1]

## Where has money been flowing?

In the week to November 11, 2026, corporate bond ETFs with daily data took in a net [$1.8 billion](https://etfiq.com/bonds/corporate/) across 32 funds. Government bond flows split by maturity: short-term funds took in [$279 million](https://etfiq.com/bonds/government-short/), while intermediate funds had a net outflow of [$99 million](https://etfiq.com/bonds/government-intermediate/) and long-term funds an outflow of [$758 million](https://etfiq.com/bonds/government-long/). High yield funds took in [$1.7 billion](https://etfiq.com/bonds/high-yield/). For the whole bond category, ETFIQ estimated [$5.7 billion](https://etfiq.com/flows/) of inflows for the week.

One week is a short window, and flows into long-term funds in particular can swing as investors react to interest rate news. The figures count only funds with daily share data, about half the funds in each segment.

## How should investors read these numbers?

**Match maturity to purpose:** short-term government funds move little with rates; long-term funds move much more. Our article on [premiums and discounts](https://www.vistashares.com/etf-bid-ask-spreads-premiums-discounts/) explains how bond ETF prices can differ from their holdings in stressed markets.

**Credit is a choice:** corporate funds add credit risk in exchange for more interest. High yield funds add more.

**Fees matter more for bonds:** when interest income is the main return, a fee difference takes a larger share of it. More basics articles are in the [ETF Basics Guide](https://www.vistashares.com/etf-basics-guide/).

## Frequently asked questions

### How many Treasury ETFs are there?

ETFIQ tracked 77 government bond ETFs across short, intermediate and long maturities on November 12, 2026, most of them Treasury funds. Treasury bill funds are counted in a separate cash and ultrashort segment.

### How many corporate bond ETFs are there?

ETFIQ tracked 72 investment-grade corporate bond ETFs and 100 high yield bond ETFs on November 12, 2026.

### Are Treasury ETFs cheaper than corporate bond ETFs?

At the median, yes: 0.07% for each government maturity segment against 0.18% for corporate bond ETFs on November 12, 2026.

### Which holds more assets?

The three government segments together held about $361 billion, against $187.8 billion in the corporate segment, as of November 12, 2026.

### What is the main risk difference?

Both carry interest rate risk. Corporate bond funds also carry credit risk, the chance that issuers' finances weaken, which is why they pay more interest.

### Where are mortgage bond ETFs counted?

In a separate government mortgage-backed segment: 16 funds holding $86.8 billion as of November 12, 2026, with at least 90% in government-backed bonds.

## NOTES

- Investment Company Institute, "Trends in the Expenses and Fees of Funds, 2025," index bond ETFs 0.09% asset-weighted in 2025, https://www.ici.org/system/files/2026-03/per32-01.pdf.
- ETFIQ, Short-term government bond ETFs, https://etfiq.com/bonds/government-short/; Intermediate-term government bond ETFs, https://etfiq.com/bonds/government-intermediate/; Long-term government bond ETFs, https://etfiq.com/bonds/government-long/; Corporate bond ETFs, https://etfiq.com/bonds/corporate/; Government mortgage-backed bond ETFs, https://etfiq.com/bonds/government-mortgage/; High yield bond ETFs, https://etfiq.com/bonds/high-yield/; Cash and ultrashort bond ETFs, https://etfiq.com/bonds/cash-ultrashort/; ETF fund flows, https://etfiq.com/flows/. Counts, assets and median fees as of November 12, 2026; largest fund net assets as of October 31 and November 12, 2026; flows to November 11, 2026. Pages read November 13, 2026.
- Adam Patti, Chief Executive Officer of VistaShares, is also the founder of ETFIQ. ETFIQ does not accept payment from ETF issuers, and its figures are calculated from public filings and market data.

Adam Patti, Chief Executive Officer of VistaShares, is also the founder of ETFIQ. ETFIQ does not accept payment from ETF issuers, and its figures are calculated from public filings and market data.

## IMPORTANT INFORMATION

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