BPAY vs. USFR
BPAY (BlackRock Future Financial and Technology ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - BPAY is a Financials Equities fund actively managed by BlackRock, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. BPAY is actively managed, while USFR is passively managed. Over the past 3 years, BPAY returned 9.58%/yr vs 4.72%/yr for USFR. At a correlation of -0.05, they often move in opposite directions. BPAY charges 0.70%/yr vs 0.15%/yr for USFR.
Performance
BPAY vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, BPAY achieves a -9.10% return, which is significantly lower than USFR's 1.78% return.
BPAY
- 1D
- -1.54%
- 1M
- 2.15%
- YTD
- -9.10%
- 6M
- -11.94%
- 1Y
- -15.94%
- 3Y*
- 9.58%
- 5Y*
- —
- 10Y*
- —
USFR
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 1.78%
- 6M
- 1.89%
- 1Y
- 3.97%
- 3Y*
- 4.72%
- 5Y*
- 3.70%
- 10Y*
- 2.43%
BPAY vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BPAY BlackRock Future Financial and Technology ETF | -9.10% | 8.54% | 17.28% | 13.19% | -16.32% |
USFR WisdomTree Floating Rate Treasury Fund | 1.78% | 4.23% | 5.47% | 5.18% | 1.29% |
Correlation
The correlation between BPAY and USFR is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2022 | -0.05 |
The correlation between BPAY and USFR shifts across timeframes, from -0.16 (1 year) to -0.04 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BPAY vs. USFR — Risk / Return Rank
BPAY
USFR
BPAY vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Future Financial and Technology ETF (BPAY) and WisdomTree Floating Rate Treasury Fund (USFR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BPAY | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -15.27 | ||
| Sortino ratioReturn per unit of downside risk | -50.59 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 13.24 | -12.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 200.29 | -200.77 |
| Martin ratioReturn relative to average drawdown | -0.90 | 775.73 | -776.63 |
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Drawdowns
BPAY vs. USFR - Drawdown Comparison
The maximum BPAY drawdown since its inception was -33.62%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for BPAY and USFR.
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Drawdown Indicators
| BPAY | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.62% | -1.36% | -32.26% |
Max Drawdown (1Y)Largest decline over 1 year | -33.62% | -0.02% | -33.60% |
Max Drawdown (3Y)Largest decline over 3 years | -33.62% | -0.06% | -33.56% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.18% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.80% | — |
Current DrawdownCurrent decline from peak | -23.21% | 0.00% | -23.21% |
Average DrawdownAverage peak-to-trough decline | -10.71% | -0.15% | -10.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.83% | 0.01% | +17.82% |
Volatility
BPAY vs. USFR - Volatility Comparison
BlackRock Future Financial and Technology ETF (BPAY) has a higher volatility of 9.59% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.08%. This indicates that BPAY's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BPAY | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.59% | 0.08% | +9.51% |
Volatility (6M)Calculated over the trailing 6-month period | 19.76% | 0.19% | +19.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.99% | 0.27% | +25.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.49% | 0.40% | +24.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.49% | 0.78% | +23.71% |
BPAY vs. USFR - Expense Ratio Comparison
BPAY has a 0.70% expense ratio, which is higher than USFR's 0.15% expense ratio.
Dividends
BPAY vs. USFR - Dividend Comparison
BPAY's dividend yield for the trailing twelve months is around 7.46%, more than USFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BPAY BlackRock Future Financial and Technology ETF | 7.46% | 6.49% | 0.48% | 1.18% | 0.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USFR WisdomTree Floating Rate Treasury Fund | 3.91% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
Frequently Asked Questions
BPAY and USFR have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BPAY has higher volatility (9.59%) compared to USFR (0.08%). In terms of maximum drawdown, BPAY dropped -33.62% vs USFR's -1.36%.
On 3-year performance, BPAY leads with 9.58% vs 4.72% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BPAY has performed better with a 9.58% return vs 4.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 0.70% for BPAY.
BPAY has the higher dividend yield at 7.46%, compared with 3.91% for USFR.
BPAY is categorized as Financials Equities, while USFR is Government Bonds. They also come from different issuers: BlackRock and WisdomTree. Their fees differ too: 0.70% for BPAY and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.65 vs -0.62), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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