GCTB
GUARDIAN ULTRA-SHORT CANADIAN T-BILL FUND
stock TSE

It depends a bit on what you meant by “longer term T‑bill” — by definition, “T‑bills” are short-term government debt (typically less than one year). But if you meant “longer maturity government bonds” or “ultra‑short to short government ETFs” (i.e. stepping out of the ultra-short space), here are some ideas and things to watch for in Canada.
First, a quick look at **CBIL**, since that’s what you hold:
* CBIL (Horizons / Global X 0‑3 Month T‑Bill ETF) gives exposure to **Government of Canada T‑Bills maturing in < 3 months**. ([Global X Investments Canada Inc.][1])
* Its weighted average duration is very low (≈ 0.11 years) which means its interest rate sensitivity is minimal. ([Global X Investments Canada Inc.][1])
* Because the holdings are so short, total NAV fluctuations are small (almost “cash‑like”) and credit risk is minimal (backed by Government of Canada). ([Global X Investments Canada Inc.][1])
So if you’re looking to “go further out” in maturity (i.e. take on more interest rate risk for higher yield) or just find alternate government or short government bond ETFs, here are some options and trade‑offs.
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## Possible alternatives / complements in Canada
Here are some Canadian ETFs or funds that carry more term or bond exposure (with increasing risk) relative to CBIL:
| Ticker / Name | Description / Exposure | Notes / Risks to consider |
| -------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------------------------------------------------------------------- |
| **TBIL (Harvest Canadian T‑Bill ETF)** | Actively managed ETF investing in Government of Canada T‑Bills (ultra short maturity). ([Harvest ETFs][2]) | Very similar in spirit to CBIL (i.e. very short term). If your goal is to lengthen maturity, this might not move you far. |
| **GCTB (Guardian Ultra‑Short Canadian T‑Bill ETF)** | Primarily invests in T‑Bills with maturities of ≤ 3–6 months. ([GlobeNewswire][3]) | Somewhat more flexibility in maturity, but still ultra‑short. |
| **CLG (iShares 1‑10 Year Laddered Government Bond ETF)** | Gives exposure to Government of Canada bonds with maturities between 1 and 10 years (laddered). ([ETF Sage][4]) | More interest rate risk. The price will move more with changes in rates. Good for someone willing to accept some volatility for higher yield. |
| **Short / Medium Term Bond ETFs** | Many Canadian bond ETFs (corporate + government combinations) offer 1–5 year exposure | These offer higher yields, but also tie up capital longer and have duration risk. |
| **Short Term Corporate Bond / Fixed Income ETFs** | e.g. the **NBI Sustainable Canadian Short Term Bond ETF (NSSB)** — an actively managed short-term fixed income fund with corporate + government exposure. ([National Bank Investments][5]) | Because of corporates, there is more credit risk. Also, durations may extend beyond what a “T-bill-like” vehicle would allow. |

It depends a bit on what you meant by “longer term T‑bill” — by definition, “T‑bills” are short-term government debt (typically less than one year). But if you meant “longer maturity government bonds” or “ultra‑short to short government ETFs” (i.e. stepping out of the ultra-short space), here are some ideas and things to watch for in Canada.
First, a quick look at **CBIL**, since that’s what you hold:
* CBIL (Horizons / Global X 0‑3 Month T‑Bill ETF) gives exposure to **Government of Canada T‑Bills maturing in < 3 months**. ([Global X Investments Canada Inc.][1])
* Its weighted average duration is very low (≈ 0.11 years) which means its interest rate sensitivity is minimal. ([Global X Investments Canada Inc.][1])
* Because the holdings are so short, total NAV fluctuations are small (almost “cash‑like”) and credit risk is minimal (backed by Government of Canada). ([Global X Investments Canada Inc.][1])
So if you’re looking to “go further out” in maturity (i.e. take on more interest rate risk for higher yield) or just find alternate government or short government bond ETFs, here are some options and trade‑offs.
---
## Possible alternatives / complements in Canada
Here are some Canadian ETFs or funds that carry more term or bond exposure (with increasing risk) relative to CBIL:
| Ticker / Name | Description / Exposure | Notes / Risks to consider |
| -------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------------------------------------------------------------------- |
| **TBIL (Harvest Canadian T‑Bill ETF)** | Actively managed ETF investing in Government of Canada T‑Bills (ultra short maturity). ([Harvest ETFs][2]) | Very similar in spirit to CBIL (i.e. very short term). If your goal is to lengthen maturity, this might not move you far. |
| **GCTB (Guardian Ultra‑Short Canadian T‑Bill ETF)** | Primarily invests in T‑Bills with maturities of ≤ 3–6 months. ([GlobeNewswire][3]) | Somewhat more flexibility in maturity, but still ultra‑short. |
| **CLG (iShares 1‑10 Year Laddered Government Bond ETF)** | Gives exposure to Government of Canada bonds with maturities between 1 and 10 years (laddered). ([ETF Sage][4]) | More interest rate risk. The price will move more with changes in rates. Good for someone willing to accept some volatility for higher yield. |
| **Short / Medium Term Bond ETFs** | Many Canadian bond ETFs (corporate + government combinations) offer 1–5 year exposure | These offer higher yields, but also tie up capital longer and have duration risk. |
| **Short Term Corporate Bond / Fixed Income ETFs** | e.g. the **NBI Sustainable Canadian Short Term Bond ETF (NSSB)** — an actively managed short-term fixed income fund with corporate + government exposure. ([National Bank Investments][5]) | Because of corporates, there is more credit risk. Also, durations may extend beyond what a “T-bill-like” vehicle would allow. |