FLOT vs. TLT
FLOT (iShares Floating Rate Bond ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - FLOT is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note < 5 Years Index, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 10 years, FLOT returned 3.07%/yr vs -2.25%/yr for TLT. Their -0.01 correlation means they have often moved in opposite directions in the past. Both charge a 0.15% expense ratio.
Performance
FLOT vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, FLOT achieves a 2.57% return, which is significantly higher than TLT's -2.43% return. Over the past 10 years, FLOT has outperformed TLT with an annualized return of 3.07%, while TLT has yielded a comparatively lower -2.25% annualized return.
FLOT
- 1D
- 0.02%
- 1M
- 0.37%
- 6M
- 2.14%
- YTD
- 2.57%
- 1Y
- 4.63%
- 3Y*
- 5.54%
- 5Y*
- 4.33%
- 10Y*
- 3.07%
- ALL TIME*
- 2.31%
TLT
- 1D
- 0.77%
- 1M
- -2.76%
- 6M
- -2.36%
- YTD
- -2.43%
- 1Y
- -1.64%
- 3Y*
- -0.90%
- 5Y*
- -8.10%
- 10Y*
- -2.25%
- ALL TIME*
- 3.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $94.48M | $98.85M | $94.17M | |
| $2.59B | $2.11B | $2.22B |
FLOT vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 2.57% | 4.91% | 6.53% | 6.43% | 1.28% | 0.45% | 0.87% | 3.97% | 1.48% | 1.65% |
TLT iShares 20+ Year Treasury Bond ETF | -2.43% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between FLOT and TLT is 0.10, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.10 |
Correlation (3Y) Balances recent behavior with more history. | 0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.05 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2011 | -0.01 |
The correlation between FLOT and TLT shifts across timeframes, from -0.01 (all time) to 0.10 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FLOT vs. TLT — Risk / Return Rank
FLOT
TLT
FLOT vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Floating Rate Bond ETF (FLOT) and iShares 20+ Year Treasury Bond ETF (TLT). 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 | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.30 | ||
| Sortino ratioReturn per unit of downside risk | +11.33 | ||
| Omega ratioGain probability vs. loss probability | 3.02 | 0.98 | +2.04 |
| Calmar ratioReturn relative to maximum drawdown | 10.77 | -0.21 | +10.98 |
| Martin ratioReturn relative to average drawdown | 99.15 | -0.45 | +99.61 |
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Drawdowns
FLOT vs. TLT - Drawdown Comparison
The maximum FLOT drawdown since its inception was -13.54%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for FLOT and TLT.
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Drawdown Indicators
| FLOT | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.54% | -48.35% | +34.81% |
Max Drawdown (1Y)Largest decline over 1 year | -0.43% | -7.74% | +7.31% |
Max Drawdown (3Y)Largest decline over 3 years | -1.57% | -14.79% | +13.22% |
Max Drawdown (5Y)Largest decline over 5 years | -2.36% | -43.70% | +41.34% |
Max Drawdown (10Y)Largest decline over 10 years | -13.54% | -48.35% | +34.81% |
Current DrawdownCurrent decline from peak | 0.00% | -41.73% | +41.73% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -14.00% | +13.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 3.63% | -3.58% |
Volatility
FLOT vs. TLT - Volatility Comparison
The current volatility for iShares Floating Rate Bond ETF (FLOT) is 0.19%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.67%. This indicates that FLOT experiences smaller price fluctuations and is considered to be less risky than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLOT | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 2.67% | -2.48% |
Volatility (6M)Calculated over the trailing 6-month period | 0.65% | 6.88% | -6.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.76% | 9.25% | -8.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.78% | 15.75% | -13.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.15% | 14.83% | -10.68% |
FLOT vs. TLT - Expense Ratio Comparison
Both FLOT and TLT 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. TLT - Dividend Comparison
FLOT's dividend yield for the trailing twelve months is around 4.41%, less than TLT's 4.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 4.41% | 4.84% | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% |
TLT iShares 20+ Year Treasury Bond ETF | 4.71% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
FLOT and TLT have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.67%) compared to FLOT (0.19%). In terms of maximum drawdown, FLOT dropped -13.54% vs TLT's -48.35%.
On 10-year performance, FLOT leads with 3.07% vs -2.25% for TLT. Both ETFs have the same 0.15% expense ratio. On volatility, FLOT has been the lower-risk option at 0.19%. 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 -2.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLOT and TLT have the same expense ratio: 0.15% per year.
TLT has the higher dividend yield at 4.71%, compared with 4.41% for FLOT.
FLOT is categorized as Ultrashort Bond, while TLT is Government Bonds. FLOT tracks Bloomberg US Floating Rate Note < 5 Years Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index.
FLOT currently has the higher Sharpe Ratio (6.12 vs -0.18), 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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