Stewardship Advisors Keeps Trimming GOVI, Selling Another $7.6 Million of This Treasury Ladder ETF

What happened

According to its SEC filing dated April 17, 2026, Stewardship Advisors, LLC reduced its stake in the Invesco Exchange-Traded Fund Trust II - Invesco Equal Weight 0-30 Year Treasury ETF (NASDAQ:GOVI) by 276,000 shares. The estimated transaction value was $7.6 million, based on the average closing price for the quarter.

What else to know

• After the sale, GOVI represents 0.65% of Stewardship Advisors’ 13F reportable AUM.
• Top holdings after the filing:
  • NYSEMKT: IVV: $55.3 million (12.7% of AUM)
  • NYSEMKT: RWL: $36.6 million (8.4% of AUM)
  • NASDAQ: QQQM: $31.9 million (7.3% of AUM)
  • NYSEMKT: VEA: $22.9 million (5.3% of AUM)
  • NYSEMKT: IMFL: $17.7 million (4.1% of AUM)
• As of April 21, 2026, shares of GOVI were priced at $27.26, up about 4.5% over the past year, underperforming the S&P 500 by roughly 32 percentage points.
• The position was previously 2.4% of the fund’s AUM as of the prior quarter.

ETF overview

ETF snapshot

The Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) provides investors with diversified, low-cost exposure to the full maturity spectrum of U.S. Treasury securities through a systematic, equal-weighted laddering strategy.

• Seeks to track the ICE 1-30 Year Laddered Maturity U.S. Treasury Index, maintaining equal-weighted exposure across the yield curve from 0 to 30 years.
• The portfolio holds up to 30 U.S. Treasury notes and bonds, rebalanced monthly to maintain the equal-weight ladder structure.

What this transaction means for investors

This sale is worth noting -- not just because of its size, but because of its pattern. According to Stewardship's last three 13F filings, the firm held 772,700 shares of GOVI on Sept. 30, 2025. By Dec. 31, it had sold 393,544 of those shares, and it shed another 276,000 in Q1 2026. The result: a reduction of nearly 670,000 shares -- roughly 87% of the position -- in just two quarters. What was once one of Stewardship's larger fixed-income holdings has been whittled down to a footnote.

That said, investors shouldn't read too much into this on its own. Stewardship Advisors manages a broadly diversified, ETF-heavy portfolio -- and a sustained trim of a fixed income position during a rough stretch for long-duration bonds isn't unusual. Q1 2026 was a difficult quarter for long-term Treasuries: the 10-year yield climbed from 4.2% to 4.3% over the period, and the 30-year yield reached 4.88% -- meaning bond prices, particularly at the long end of the curve where GOVI has exposure, came under pressure. The fund may have simply been rebalancing or trimming fixed income exposure across the portfolio.

For everyday investors, GOVI's laddered approach to Treasury exposure remains a sensible -- if unsexy -- diversification tool. It won't outpace equities in a bull market (it's trailed the S&P 500 by about 32 percentage points over the past year), but it does offer a predictable income stream backed by the full faith and credit of the U.S. government, plus a monthly dividend currently yielding around 3.8% on an annualized basis. In a climate where fixed income analysts widely expect returns to be income-driven rather than price-appreciation-driven, that kind of steady yield can still play an important role in a balanced portfolio. Just keep in mind that GOVI’s full 0-30 year duration range means it carries more interest rate sensitivity than the intermediate-term bond funds (typically 3-7 years) that advisors more commonly recommend for retail investors.

Andy Gould has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Vanguard FTSE Developed Markets ETF. The Motley Fool has a disclosure policy.