FLOT vs. TFLO
FLOT (iShares Floating Rate Bond ETF) and TFLO (iShares Treasury Floating Rate Bond ETF) are both exchange-traded funds - FLOT is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note < 5 Years Index, while TFLO is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Index. Both are passively managed. Over the past 10 years, FLOT returned 3.07%/yr vs 2.41%/yr for TFLO. Their 0.05 correlation means their historical movements had little consistent relationship. Both charge a 0.15% expense ratio.
Performance
FLOT vs. TFLO - Performance Comparison
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Returns By Period
In the year-to-date period, FLOT achieves a 2.47% return, which is significantly higher than TFLO's 2.22% return. Over the past 10 years, FLOT has outperformed TFLO with an annualized return of 3.07%, while TFLO has yielded a comparatively lower 2.41% annualized return.
FLOT
- 1D
- -0.02%
- 1M
- 0.29%
- 6M
- 2.11%
- YTD
- 2.47%
- 1Y
- 4.61%
- 3Y*
- 5.50%
- 5Y*
- 4.31%
- 10Y*
- 3.07%
- ALL TIME*
- 2.31%
TFLO
- 1D
- 0.00%
- 1M
- 0.32%
- 6M
- 1.88%
- YTD
- 2.22%
- 1Y
- 3.94%
- 3Y*
- 4.66%
- 5Y*
- 3.77%
- 10Y*
- 2.41%
- ALL TIME*
- 1.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $94.03M | $97.06M | $92.58M | |
| $79.31M | $72.74M | $75.47M |
FLOT vs. TFLO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 2.47% | 4.91% | 6.53% | 6.43% | 1.28% | 0.45% | 0.87% | 3.97% | 1.48% | 1.65% |
TFLO iShares Treasury Floating Rate Bond ETF | 2.22% | 4.22% | 5.34% | 5.12% | 1.99% | -0.02% | 0.43% | 2.04% | 1.76% | 1.01% |
Correlation
The correlation between FLOT and TFLO is 0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | 0.05 |
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Return for Risk
FLOT vs. TFLO — Risk / Return Rank
FLOT
TFLO
FLOT vs. TFLO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Floating Rate Bond ETF (FLOT) and iShares Treasury Floating Rate Bond ETF (TFLO). 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 | TFLO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.62 | ||
| Sortino ratioReturn per unit of downside risk | -36.26 | ||
| Omega ratioGain probability vs. loss probability | 3.02 | 12.34 | -9.32 |
| Calmar ratioReturn relative to maximum drawdown | 10.73 | 199.41 | -188.67 |
| Martin ratioReturn relative to average drawdown | 98.80 | 766.49 | -667.68 |
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Drawdowns
FLOT vs. TFLO - Drawdown Comparison
The maximum FLOT drawdown since its inception was -13.54%, which is greater than TFLO's maximum drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for FLOT and TFLO.
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Drawdown Indicators
| FLOT | TFLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.54% | -5.01% | -8.53% |
Max Drawdown (1Y)Largest decline over 1 year | -0.43% | -0.02% | -0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -1.57% | -0.04% | -1.53% |
Max Drawdown (5Y)Largest decline over 5 years | -2.36% | -0.13% | -2.23% |
Max Drawdown (10Y)Largest decline over 10 years | -13.54% | -0.16% | -13.38% |
Current DrawdownCurrent decline from peak | -0.02% | 0.00% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -0.10% | -0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.01% | +0.04% |
Volatility
FLOT vs. TFLO - Volatility Comparison
iShares Floating Rate Bond ETF (FLOT) has a higher volatility of 0.19% compared to iShares Treasury Floating Rate Bond ETF (TFLO) at 0.08%. This indicates that FLOT's price experiences larger fluctuations and is considered to be riskier than TFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLOT | TFLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 0.08% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 0.65% | 0.19% | +0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.76% | 0.29% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.78% | 0.35% | +1.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.15% | 0.45% | +3.70% |
FLOT vs. TFLO - Expense Ratio Comparison
Both FLOT and TFLO have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
FLOT vs. TFLO - Dividend Comparison
FLOT's dividend yield for the trailing twelve months is around 4.46%, more than TFLO's 3.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 4.46% | 4.84% | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% |
TFLO iShares Treasury Floating Rate Bond ETF | 3.83% | 4.16% | 5.21% | 4.88% | 1.68% | 0.00% | 0.36% | 2.08% | 1.65% | 0.86% | 0.31% | 0.15% |
Frequently Asked Questions
FLOT and TFLO have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLOT has higher volatility (0.19%) compared to TFLO (0.08%). In terms of maximum drawdown, FLOT dropped -13.54% vs TFLO's -5.01%.
On 10-year performance, FLOT leads with 3.07% vs 2.41% for TFLO. Both ETFs have the same 0.15% expense ratio. On volatility, TFLO has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FLOT has performed better with a 3.07% return vs 2.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLOT and TFLO have the same expense ratio: 0.15% per year.
FLOT has the higher dividend yield at 4.46%, compared with 3.83% for TFLO.
FLOT is categorized as Ultrashort Bond, while TFLO is Government Bonds. FLOT tracks Bloomberg US Floating Rate Note < 5 Years Index, while TFLO tracks Bloomberg U.S. Treasury Floating Rate Index.
TFLO currently has the higher Sharpe Ratio (13.73 vs 6.11), 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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