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 Corporate Bonds fund tracking the Bloomberg US Floating Rate Notes (<5 Y), 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 3.03%/yr vs -1.66%/yr for TLT. At a correlation of -0.01, they often move in opposite directions. FLOT charges 0.20%/yr vs 0.15%/yr for TLT.
Performance
FLOT vs. TLT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FLOT achieves a 1.89% return, which is significantly higher than TLT's -0.27% return. Over the past 10 years, FLOT has outperformed TLT with an annualized return of 3.03%, while TLT has yielded a comparatively lower -1.66% annualized return.
FLOT
- 1D
- 0.04%
- 1M
- 0.51%
- YTD
- 1.89%
- 6M
- 2.21%
- 1Y
- 4.91%
- 3Y*
- 5.65%
- 5Y*
- 4.20%
- 10Y*
- 3.03%
TLT
- 1D
- -0.40%
- 1M
- 0.81%
- YTD
- -0.27%
- 6M
- -2.02%
- 1Y
- 4.93%
- 3Y*
- -1.80%
- 5Y*
- -6.31%
- 10Y*
- -1.66%
FLOT vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 1.89% | 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 | -0.27% | 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 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2011 | -0.01 |
The correlation between FLOT and TLT shifts across timeframes, from -0.01 (all time) to 0.09 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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.
| FLOT | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.17 | ||
| Sortino ratioReturn per unit of downside risk | +11.35 | ||
| Omega ratioGain probability vs. loss probability | 3.31 | 1.09 | +2.22 |
| Calmar ratioReturn relative to maximum drawdown | 11.42 | 0.65 | +10.76 |
| Martin ratioReturn relative to average drawdown | 106.82 | 1.63 | +105.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| FLOT | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.68 | 0.51 | +6.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.38 | -0.40 | +2.78 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | -0.11 | +0.85 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.26 | +0.41 |
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.
Loading charts...
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% | -7.58% | +7.15% |
Max Drawdown (3Y)Largest decline over 3 years | -1.57% | -19.18% | +17.61% |
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% | -40.44% | +40.44% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -13.82% | +13.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 3.04% | -2.99% |
Volatility
FLOT vs. TLT - Volatility Comparison
The current volatility for iShares Floating Rate Bond ETF (FLOT) is 0.18%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.76%. 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.
Loading charts...
Volatility by Period
| FLOT | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.18% | 2.76% | -2.58% |
Volatility (6M)Calculated over the trailing 6-month period | 0.62% | 6.50% | -5.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.74% | 9.77% | -9.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.77% | 15.87% | -14.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.15% | 14.91% | -10.76% |
FLOT vs. TLT - Expense Ratio Comparison
FLOT has a 0.20% expense ratio, which is higher than TLT's 0.15% expense ratio. However, 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 vs. TLT - Dividend Comparison
FLOT's dividend yield for the trailing twelve months is around 4.53%, less than TLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TLT iShares 20+ Year Treasury Bond ETF | 4.59% | 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 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.76%) compared to FLOT (0.18%). In terms of maximum drawdown, FLOT dropped -13.54% vs TLT's -48.35%.
On 10-year performance, FLOT leads with 3.03% vs -1.66% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, FLOT has been the lower-risk option at 0.18%. 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 3.03% return vs -1.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLT is cheaper with a 0.15% expense ratio, compared with 0.20% for FLOT.
TLT has the higher dividend yield at 4.59%, compared with 4.53% for FLOT.
FLOT is categorized as Corporate Bonds, while TLT is Government Bonds. FLOT tracks Bloomberg US Floating Rate Notes (<5 Y), while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.20% for FLOT and 0.15% for TLT.
FLOT currently has the higher Sharpe Ratio (6.68 vs 0.51), 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.
Find the right allocation for FLOT and TLT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer