ECNS vs. USFR
ECNS (iShares MSCI China Small-Cap ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - ECNS is a Asia Pacific Equities fund tracking the MSCI China Small Cap 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, ECNS returned 1.55%/yr vs 2.43%/yr for USFR. At a correlation of -0.00, they often move in opposite directions. ECNS charges 0.59%/yr vs 0.15%/yr for USFR.
Performance
ECNS vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, ECNS achieves a -9.88% return, which is significantly lower than USFR's 1.82% return. Over the past 10 years, ECNS has underperformed USFR with an annualized return of 1.55%, while USFR has yielded a comparatively higher 2.43% annualized return.
ECNS
- 1D
- -1.92%
- 1M
- -6.71%
- YTD
- -9.88%
- 6M
- -11.17%
- 1Y
- 1.85%
- 3Y*
- 6.91%
- 5Y*
- -8.08%
- 10Y*
- 1.55%
USFR
- 1D
- 0.04%
- 1M
- 0.33%
- YTD
- 1.82%
- 6M
- 1.92%
- 1Y
- 3.99%
- 3Y*
- 4.74%
- 5Y*
- 3.71%
- 10Y*
- 2.43%
ECNS vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ECNS iShares MSCI China Small-Cap ETF | -9.88% | 36.49% | 5.64% | -23.05% | -24.58% | 2.11% | 25.42% | 7.84% | -18.27% | 27.55% |
USFR WisdomTree Floating Rate Treasury Fund | 1.82% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 1.03% |
Correlation
The correlation between ECNS and USFR is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | -0.00 |
The correlation between ECNS and USFR shifts across timeframes, from -0.09 (1 year) to 0.01 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ECNS vs. USFR — Risk / Return Rank
ECNS
USFR
ECNS vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Small-Cap ETF (ECNS) 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.
| ECNS | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -14.58 | ||
| Sortino ratioReturn per unit of downside risk | -49.87 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 13.31 | -12.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | 201.33 | -201.25 |
| Martin ratioReturn relative to average drawdown | 0.18 | 779.76 | -779.58 |
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Drawdowns
ECNS vs. USFR - Drawdown Comparison
The maximum ECNS drawdown since its inception was -63.43%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for ECNS and USFR.
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Drawdown Indicators
| ECNS | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.43% | -1.36% | -62.07% |
Max Drawdown (1Y)Largest decline over 1 year | -22.70% | -0.02% | -22.68% |
Max Drawdown (3Y)Largest decline over 3 years | -31.72% | -0.06% | -31.66% |
Max Drawdown (5Y)Largest decline over 5 years | -59.61% | -0.18% | -59.43% |
Max Drawdown (10Y)Largest decline over 10 years | -63.43% | -0.80% | -62.63% |
Current DrawdownCurrent decline from peak | -41.99% | 0.00% | -41.99% |
Average DrawdownAverage peak-to-trough decline | -29.41% | -0.15% | -29.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.24% | 0.01% | +10.23% |
Volatility
ECNS vs. USFR - Volatility Comparison
iShares MSCI China Small-Cap ETF (ECNS) has a higher volatility of 5.69% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.09%. This indicates that ECNS'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
| ECNS | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 0.09% | +5.60% |
Volatility (6M)Calculated over the trailing 6-month period | 13.59% | 0.19% | +13.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.68% | 0.27% | +20.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.44% | 0.40% | +29.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.90% | 0.78% | +25.12% |
ECNS vs. USFR - Expense Ratio Comparison
ECNS has a 0.59% expense ratio, which is higher than USFR's 0.15% expense ratio.
Dividends
ECNS vs. USFR - Dividend Comparison
ECNS's dividend yield for the trailing twelve months is around 6.53%, more than USFR's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECNS iShares MSCI China Small-Cap ETF | 6.53% | 6.20% | 5.98% | 4.89% | 3.54% | 4.87% | 3.59% | 3.23% | 6.16% | 3.18% | 4.29% | 3.58% |
USFR WisdomTree Floating Rate Treasury Fund | 3.90% | 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
ECNS and USFR have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ECNS has higher volatility (5.69%) compared to USFR (0.09%). In terms of maximum drawdown, ECNS dropped -63.43% vs USFR's -1.36%.
On 10-year performance, USFR leads with 2.43% vs 1.55% for ECNS. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USFR has performed better with a 2.43% return vs 1.55%. 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 0.59% for ECNS.
ECNS has the higher dividend yield at 6.53%, compared with 3.90% for USFR.
ECNS is categorized as Asia Pacific Equities, while USFR is Government Bonds. ECNS tracks MSCI China Small Cap 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: 0.59% for ECNS and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.67 vs 0.09), 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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