The Treasury Bond ETFs are individual bonds in anETF. And I'm not sure how useful these will actually be, simply because you can open an account at Treasury Direct and be buying the same kinds of bonds. What you would end up doing if you use this is probably just recreating a bond fund with multiple funds over multiple time periods. But we shall see. This is one of these new products that I'm curious to see whether anyone actually makes a lot of use of it.