FLOT.L vs. USFR.L
FLOT.L (iShares $ Floating Rate Bond UCITS ETF USD (Dist)) and USFR.L (WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD) are both exchange-traded funds - FLOT.L is a Ultrashort Bond fund tracking the iShares $ Floating Rate Bond UCITS ETF USD (Dist), while USFR.L is a Government Bonds fund tracking the Bloomberg US Treasury Floating Rate Bond Index. Both are passively managed. Over the past 5 years, FLOT.L returned 4.33%/yr vs 3.91%/yr for USFR.L. At a 0.10 correlation, their price movements are largely independent. FLOT.L charges 0.10%/yr vs 0.15%/yr for USFR.L.
Performance
FLOT.L vs. USFR.L - Performance Comparison
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Returns By Period
In the year-to-date period, FLOT.L achieves a 2.38% return, which is significantly lower than USFR.L's 2.98% return.
FLOT.L
- 1D
- 0.00%
- 1M
- 0.40%
- 6M
- 2.18%
- YTD
- 2.38%
- 1Y
- 4.77%
- 3Y*
- 5.63%
- 5Y*
- 4.33%
- 10Y*
- —
USFR.L
- 1D
- 0.04%
- 1M
- 1.27%
- 6M
- 2.83%
- YTD
- 2.98%
- 1Y
- 4.86%
- 3Y*
- 5.01%
- 5Y*
- 3.91%
- 10Y*
- —
FLOT.L vs. USFR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FLOT.L iShares $ Floating Rate Bond UCITS ETF USD (Dist) | 2.38% | 5.19% | 6.39% | 6.04% | 1.87% | 0.60% | 0.60% | 2.74% |
USFR.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD | 2.98% | 4.17% | 5.46% | 4.95% | 2.06% | -0.16% | 0.58% | 1.59% |
Correlation
The correlation between FLOT.L and USFR.L is 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2019 | 0.10 |
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Return for Risk
FLOT.L vs. USFR.L — Risk / Return Rank
FLOT.L
USFR.L
FLOT.L vs. USFR.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Floating Rate Bond UCITS ETF USD (Dist) (FLOT.L) and WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD (USFR.L). 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.
| FLOT.L | USFR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.80 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 23.83 | 3.85 | +19.98 |
| Martin ratioReturn relative to average drawdown | 44.39 | 41.80 | +2.59 |
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Drawdowns
FLOT.L vs. USFR.L - Drawdown Comparison
The maximum FLOT.L drawdown since its inception was -14.03%, which is greater than USFR.L's maximum drawdown of -2.99%. Use the drawdown chart below to compare losses from any high point for FLOT.L and USFR.L.
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Drawdown Indicators
| FLOT.L | USFR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.03% | -2.99% | -11.04% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -1.26% | +1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -2.53% | -1.75% | -0.78% |
Max Drawdown (5Y)Largest decline over 5 years | -2.53% | -1.75% | -0.78% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.22% | -0.09% | -0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 0.12% | -0.01% |
Volatility
FLOT.L vs. USFR.L - Volatility Comparison
The current volatility for iShares $ Floating Rate Bond UCITS ETF USD (Dist) (FLOT.L) is 0.64%, while WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD (USFR.L) has a volatility of 0.89%. This indicates that FLOT.L experiences smaller price fluctuations and is considered to be less risky than USFR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLOT.L | USFR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 0.89% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 1.46% | 1.22% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.94% | 2.55% | -0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.90% | 2.77% | +0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.92% | 2.70% | +1.22% |
FLOT.L vs. USFR.L - Expense Ratio Comparison
FLOT.L has a 0.10% expense ratio, which is lower than USFR.L'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
FLOT.L vs. USFR.L - Dividend Comparison
FLOT.L's dividend yield for the trailing twelve months is around 4.68%, less than USFR.L's 4.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLOT.L iShares $ Floating Rate Bond UCITS ETF USD (Dist) | 4.68% | 5.02% | 6.05% | 5.50% | 1.45% | 0.60% | 1.59% | 2.91% | 2.21% | 0.46% |
USFR.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD | 4.73% | 4.32% | 5.24% | 4.58% | 0.78% | 0.00% | 0.57% | 1.09% | 0.00% | 0.00% |
Frequently Asked Questions
FLOT.L and USFR.L have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLOT.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLOT.L is cheaper with a 0.10% expense ratio, compared with 0.15% for USFR.L.
FLOT.L is categorized as Ultrashort Bond, while USFR.L is Government Bonds. FLOT.L tracks iShares $ Floating Rate Bond UCITS ETF USD (Dist), while USFR.L tracks Bloomberg US Treasury Floating Rate Bond Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.10% for FLOT.L and 0.15% for USFR.L.
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