FEZ vs. FLOT
FEZ (State Street SPDR EURO STOXX 50 ETF) and FLOT (iShares Floating Rate Bond ETF) are both exchange-traded funds - FEZ is a Europe Equities fund tracking the EURO STOXX 50 Index, while FLOT is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note < 5 Years Index. Both are passively managed. Over the past 10 years, FEZ returned 11.13%/yr vs 3.03%/yr for FLOT. At a 0.12 correlation, their price movements are largely independent. FEZ charges 0.29%/yr vs 0.15%/yr for FLOT.
Performance
FEZ vs. FLOT - Performance Comparison
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Returns By Period
In the year-to-date period, FEZ achieves a 8.27% return, which is significantly higher than FLOT's 1.99% return. Over the past 10 years, FEZ has outperformed FLOT with an annualized return of 11.13%, while FLOT has yielded a comparatively lower 3.03% annualized return.
FEZ
- 1D
- 0.91%
- 1M
- 7.17%
- YTD
- 8.27%
- 6M
- 8.57%
- 1Y
- 21.04%
- 3Y*
- 17.52%
- 5Y*
- 10.55%
- 10Y*
- 11.13%
FLOT
- 1D
- 0.00%
- 1M
- 0.43%
- YTD
- 1.99%
- 6M
- 2.21%
- 1Y
- 4.87%
- 3Y*
- 5.60%
- 5Y*
- 4.22%
- 10Y*
- 3.03%
FEZ vs. FLOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FEZ State Street SPDR EURO STOXX 50 ETF | 8.27% | 37.81% | 3.57% | 27.16% | -14.27% | 14.84% | 4.84% | 26.04% | -15.85% | 24.80% |
FLOT iShares Floating Rate Bond ETF | 1.99% | 4.91% | 6.53% | 6.43% | 1.28% | 0.45% | 0.87% | 3.97% | 1.48% | 1.65% |
Correlation
The correlation between FEZ and FLOT is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2011 | 0.12 |
The correlation between FEZ and FLOT shifts across timeframes, from 0.12 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FEZ vs. FLOT — Risk / Return Rank
FEZ
FLOT
FEZ vs. FLOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR EURO STOXX 50 ETF (FEZ) and iShares Floating Rate Bond ETF (FLOT). 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.
| FEZ | FLOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.40 | ||
| Sortino ratioReturn per unit of downside risk | -10.13 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 3.23 | -2.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 11.32 | -9.77 |
| Martin ratioReturn relative to average drawdown | 5.28 | 105.27 | -99.99 |
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Drawdowns
FEZ vs. FLOT - Drawdown Comparison
The maximum FEZ drawdown since its inception was -64.21%, which is greater than FLOT's maximum drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for FEZ and FLOT.
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Drawdown Indicators
| FEZ | FLOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.21% | -13.54% | -50.67% |
Max Drawdown (1Y)Largest decline over 1 year | -13.63% | -0.43% | -13.20% |
Max Drawdown (3Y)Largest decline over 3 years | -15.85% | -1.57% | -14.28% |
Max Drawdown (5Y)Largest decline over 5 years | -35.05% | -2.36% | -32.69% |
Max Drawdown (10Y)Largest decline over 10 years | -39.69% | -13.54% | -26.15% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -17.05% | -0.21% | -16.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.00% | 0.05% | +3.95% |
Volatility
FEZ vs. FLOT - Volatility Comparison
State Street SPDR EURO STOXX 50 ETF (FEZ) has a higher volatility of 6.60% compared to iShares Floating Rate Bond ETF (FLOT) at 0.21%. This indicates that FEZ's price experiences larger fluctuations and is considered to be riskier than FLOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEZ | FLOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.60% | 0.21% | +6.39% |
Volatility (6M)Calculated over the trailing 6-month period | 15.47% | 0.63% | +14.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.39% | 0.75% | +17.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.71% | 1.77% | +18.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.11% | 4.15% | +16.96% |
FEZ vs. FLOT - Expense Ratio Comparison
FEZ has a 0.29% expense ratio, which is higher than FLOT's 0.15% expense ratio.
Dividends
FEZ vs. FLOT - Dividend Comparison
FEZ's dividend yield for the trailing twelve months is around 2.50%, less than FLOT's 4.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEZ State Street SPDR EURO STOXX 50 ETF | 2.50% | 2.78% | 2.94% | 2.75% | 3.06% | 2.61% | 2.13% | 2.61% | 3.45% | 2.44% | 3.35% | 3.03% |
FLOT iShares Floating Rate Bond ETF | 4.53% | 4.84% | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% |
Frequently Asked Questions
FEZ and FLOT have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FEZ has higher volatility (6.60%) compared to FLOT (0.21%). In terms of maximum drawdown, FEZ dropped -64.21% vs FLOT's -13.54%.
On 10-year performance, FEZ leads with 11.13% vs 3.03% for FLOT. On fees, FLOT is cheaper at 0.15% per year. On volatility, FLOT has been the lower-risk option at 0.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FEZ has performed better with a 11.13% return vs 3.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLOT is cheaper with a 0.15% expense ratio, compared with 0.29% for FEZ.
FLOT has the higher dividend yield at 4.53%, compared with 2.50% for FEZ.
FEZ is categorized as Europe Equities, while FLOT is Ultrashort Bond. FEZ tracks EURO STOXX 50 Index, while FLOT tracks Bloomberg US Floating Rate Note < 5 Years Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.29% for FEZ and 0.15% for FLOT.
FLOT currently has the higher Sharpe Ratio (6.56 vs 1.15), 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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