DEEP vs. USFR

Last updated Jun 4, 2026

DEEP (Roundhill Acquirers Deep Value ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - DEEP is a Small Cap Value Equities fund tracking the DEEP-US - Acquirers Deep Value 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, DEEP returned 8.15%/yr vs 2.47%/yr for USFR. At a 0.00 correlation, their price movements are largely independent. DEEP charges 0.80%/yr vs 0.15%/yr for USFR.

Performance

DEEP vs. USFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Acquirers Deep Value ETF (DEEP) and WisdomTree Floating Rate Treasury Fund (USFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DEEP achieves a 12.39% return, which is significantly higher than USFR's 1.60% return. Over the past 10 years, DEEP has outperformed USFR with an annualized return of 8.15%, while USFR has yielded a comparatively lower 2.47% annualized return.

DEEP

• 1D: -2.02%
• 1M: 0.72%
• YTD: 12.39%
• 6M: 11.91%
• 1Y: 27.76%
• 3Y*: 9.78%
• 5Y*: 3.74%
• 10Y*: 8.15%

USFR

• 1D: 0.02%
• 1M: 0.29%
• YTD: 1.60%
• 6M: 1.98%
• 1Y: 4.03%
• 3Y*: 4.76%
• 5Y*: 3.66%
• 10Y*: 2.47%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DEEP vs. USFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEEP Roundhill Acquirers Deep Value ETF	12.39%	5.69%	-2.97%	22.37%	-17.71%	35.66%	-9.96%	12.54%	-7.17%	27.19%
USFR WisdomTree Floating Rate Treasury Fund	1.60%	4.23%	5.47%	5.18%	1.98%	-0.03%	0.56%	2.02%	2.01%	1.03%

Correlation

The correlation between DEEP and USFR is -0.15, 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	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	-0.02
Correlation (10Y) Calculated over the trailing 10-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Sep 24, 2014	0.00

The correlation between DEEP and USFR shifts across timeframes, from -0.15 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DEEP vs. USFR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DEEP

DEEP Risk / Return Rank: 42
DEEP Sharpe Ratio Rank: 41
DEEP Sortino Ratio Rank: 43
DEEP Omega Ratio Rank: 38
DEEP Calmar Ratio Rank: 48
DEEP Martin Ratio Rank: 42

USFR

USFR Risk / Return Rank: 100
USFR Sharpe Ratio Rank: 100
USFR Sortino Ratio Rank: 100
USFR Omega Ratio Rank: 100
USFR Calmar Ratio Rank: 100
USFR Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DEEP vs. USFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Acquirers Deep Value ETF (DEEP) 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.

	DEEP	USFR	Difference
Sharpe ratio: Return per unit of total volatility	1.46	15.11	-13.65
Sortino ratio: Return per unit of downside risk	2.16	50.64	-48.48
Omega ratio: Gain probability vs. loss probability	1.25	13.43	-12.18
Calmar ratio: Return relative to maximum drawdown	2.35	203.42	-201.07
Martin ratio: Return relative to average drawdown	6.76	787.84	-781.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DEEP vs. USFR - Sharpe Ratio Comparison

The current DEEP Sharpe Ratio is 1.46, which is lower than the USFR Sharpe Ratio of 15.11. The chart below compares the historical Sharpe Ratios of DEEP and USFR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DEEP	USFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	15.11	-13.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	9.26	-9.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	3.07	-2.74
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	1.60	-1.31

Drawdowns

DEEP vs. USFR - Drawdown Comparison

The maximum DEEP drawdown since its inception was -52.52%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for DEEP and USFR.

Drawdown Indicators

	DEEP	USFR	Difference
Max Drawdown Largest peak-to-trough decline	-52.52%	-1.36%	-51.16%
Max Drawdown (1Y) Largest decline over 1 year	-11.87%	-0.02%	-11.85%
Max Drawdown (3Y) Largest decline over 3 years	-28.40%	-0.06%	-28.34%
Max Drawdown (5Y) Largest decline over 5 years	-28.40%	-0.18%	-28.22%
Max Drawdown (10Y) Largest decline over 10 years	-52.52%	-0.80%	-51.72%
Current Drawdown Current decline from peak	-2.02%	0.00%	-2.02%
Average Drawdown Average peak-to-trough decline	-10.40%	-0.16%	-10.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	0.01%	+4.11%

Volatility

DEEP vs. USFR - Volatility Comparison

Roundhill Acquirers Deep Value ETF (DEEP) has a higher volatility of 5.67% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. This indicates that DEEP'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.

Volatility by Period

	DEEP	USFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.67%	0.06%	+5.61%
Volatility (6M) Calculated over the trailing 6-month period	12.29%	0.18%	+12.11%
Volatility (1Y) Calculated over the trailing 1-year period	19.18%	0.27%	+18.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.65%	0.40%	+21.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.27%	0.81%	+23.46%

DEEP vs. USFR - Expense Ratio Comparison

DEEP has a 0.80% expense ratio, which is higher than USFR's 0.15% expense ratio.

Dividends

DEEP vs. USFR - Dividend Comparison

DEEP's dividend yield for the trailing twelve months is around 1.52%, less than USFR's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEEP Roundhill Acquirers Deep Value ETF	1.52%	1.78%	1.96%	1.67%	1.28%	1.43%	4.03%	3.49%	1.51%	2.01%	3.14%	3.98%
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

Can I hold both DEEP and USFR in my portfolio?

DEEP and USFR have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DEEP or USFR?

DEEP has higher volatility (5.67%) compared to USFR (0.06%). In terms of maximum drawdown, DEEP dropped -52.52% vs USFR's -1.36%.

Which ETF is better, DEEP or USFR?

On 10-year performance, DEEP leads with 8.15% vs 2.47% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DEEP or USFR?

Over the 10-year period, DEEP has performed better with a 8.15% return vs 2.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DEEP or USFR?

USFR is cheaper with a 0.15% expense ratio, compared with 0.80% for DEEP.

Which ETF pays a higher dividend yield, DEEP or USFR?

USFR has the higher dividend yield at 3.91%, compared with 1.52% for DEEP.

What is the main difference between DEEP and USFR?

DEEP is categorized as Small Cap Value Equities, while USFR is Government Bonds. DEEP tracks DEEP-US - Acquirers Deep Value Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: Exchange Traded Concepts and WisdomTree. Their fees differ too: 0.80% for DEEP and 0.15% for USFR.

Which has better risk-adjusted returns?

USFR currently has the higher Sharpe Ratio (15.11 vs 1.46), 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.