CHSPI.SW vs. USFR
CHSPI.SW (iShares Core SPI® ETF (CH)) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - CHSPI.SW is a Europe Equities fund tracking the Swiss Performance Index, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 10 years, CHSPI.SW returned 7.78%/yr vs 0.35%/yr for USFR. At a 0.08 correlation, their price movements are largely independent. CHSPI.SW charges 0.10%/yr vs 0.15%/yr for USFR.
Performance
CHSPI.SW vs. USFR - Performance Comparison
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Different Trading Currencies
CHSPI.SW is traded in CHF, while USFR is traded in USD. To make them comparable, the USFR values have been converted to CHF using the latest available exchange rates.
Returns By Period
In the year-to-date period, CHSPI.SW achieves a 2.84% return, which is significantly higher than USFR's 1.31% return. Over the past 10 years, CHSPI.SW has outperformed USFR with an annualized return of 7.78%, while USFR has yielded a comparatively lower 0.35% annualized return.
CHSPI.SW
- 1D
- -0.59%
- 1M
- 1.86%
- YTD
- 2.84%
- 6M
- 5.90%
- 1Y
- 11.09%
- 3Y*
- 7.41%
- 5Y*
- 4.57%
- 10Y*
- 7.78%
USFR
- 1D
- 0.63%
- 1M
- 1.19%
- YTD
- 1.31%
- 6M
- 0.92%
- 1Y
- -0.12%
- 3Y*
- 0.02%
- 5Y*
- 1.04%
- 10Y*
- 0.35%
CHSPI.SW vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CHSPI.SW iShares Core SPI® ETF (CH) | 2.84% | 17.87% | 5.72% | 5.96% | -16.46% | 23.33% | 4.07% | 30.42% | -8.30% | 19.00% |
USFR WisdomTree Floating Rate Treasury Fund | 1.31% | -8.93% | 13.78% | -4.24% | 3.37% | 2.92% | -7.92% | 0.28% | 3.00% | -3.26% |
Correlation
The correlation between CHSPI.SW and USFR is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2014 | 0.08 |
The correlation between CHSPI.SW and USFR shifts across timeframes, from -0.17 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CHSPI.SW vs. USFR — Risk / Return Rank
CHSPI.SW
USFR
CHSPI.SW vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core SPI® ETF (CH) (CHSPI.SW) 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.
| CHSPI.SW | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.00 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | -0.02 | +1.09 |
| Martin ratioReturn relative to average drawdown | 3.88 | -0.06 | +3.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CHSPI.SW | USFR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | -0.02 | +0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.13 | +0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.05 | +0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.09 | +0.38 |
Drawdowns
CHSPI.SW vs. USFR - Drawdown Comparison
The maximum CHSPI.SW drawdown since its inception was -26.58%, which is greater than USFR's maximum drawdown of -17.89%. Use the drawdown chart below to compare losses from any high point for CHSPI.SW and USFR.
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Drawdown Indicators
| CHSPI.SW | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.58% | -17.89% | -8.69% |
Max Drawdown (1Y)Largest decline over 1 year | -10.56% | -5.17% | -5.39% |
Max Drawdown (3Y)Largest decline over 3 years | -16.00% | -13.42% | -2.58% |
Max Drawdown (5Y)Largest decline over 5 years | -21.75% | -13.42% | -8.33% |
Max Drawdown (10Y)Largest decline over 10 years | -26.58% | -13.42% | -13.16% |
Current DrawdownCurrent decline from peak | -2.49% | -8.82% | +6.33% |
Average DrawdownAverage peak-to-trough decline | -5.61% | -5.27% | -0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 2.02% | +0.86% |
Volatility
CHSPI.SW vs. USFR - Volatility Comparison
iShares Core SPI® ETF (CH) (CHSPI.SW) has a higher volatility of 3.42% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 1.63%. This indicates that CHSPI.SW'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
| CHSPI.SW | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | 1.63% | +1.79% |
Volatility (6M)Calculated over the trailing 6-month period | 9.58% | 5.77% | +3.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.91% | 7.66% | +4.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.55% | 8.28% | +5.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.30% | 7.61% | +6.69% |
CHSPI.SW vs. USFR - Expense Ratio Comparison
CHSPI.SW has a 0.10% expense ratio, which is lower than USFR's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CHSPI.SW vs. USFR - Dividend Comparison
CHSPI.SW's dividend yield for the trailing twelve months is around 2.92%, less than USFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CHSPI.SW iShares Core SPI® ETF (CH) | 2.92% | 2.65% | 2.98% | 2.94% | 2.84% | 2.27% | 2.59% | 2.66% | 3.85% | 2.71% | 3.15% | 2.67% |
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% | 0.00% |
Frequently Asked Questions
CHSPI.SW and USFR have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CHSPI.SW is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CHSPI.SW is cheaper with a 0.10% expense ratio, compared with 0.15% for USFR.
CHSPI.SW is categorized as Europe Equities, while USFR is Government Bonds. CHSPI.SW tracks Swiss Performance Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.10% for CHSPI.SW and 0.15% for USFR.
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