FLRN vs. BUCK
FLRN (State Street SPDR Bloomberg Investment Grade Floating Rate ETF) and BUCK (Simplify Treasury Option Income ETF) are both exchange-traded funds - FLRN is a Ultrashort Bond fund tracking the Bloomberg U.S. Dollar Floating Rate Note < 5 Years Index, while BUCK is a Government Bonds fund actively managed by Simplify. FLRN is passively managed, while BUCK is actively managed. Over the past 3 years, FLRN returned 5.57%/yr vs 5.19%/yr for BUCK. At a 0.03 correlation, their price movements are largely independent. FLRN charges 0.15%/yr vs 0.35%/yr for BUCK.
Performance
FLRN vs. BUCK - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FLRN having a 2.32% return and BUCK slightly higher at 2.36%.
FLRN
- 1D
- 0.00%
- 1M
- 0.38%
- 6M
- 2.18%
- YTD
- 2.32%
- 1Y
- 4.65%
- 3Y*
- 5.57%
- 5Y*
- 4.27%
- 10Y*
- 3.05%
BUCK
- 1D
- -0.09%
- 1M
- 0.28%
- 6M
- 2.10%
- YTD
- 2.36%
- 1Y
- 7.04%
- 3Y*
- 5.19%
- 5Y*
- —
- 10Y*
- —
FLRN vs. BUCK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FLRN State Street SPDR Bloomberg Investment Grade Floating Rate ETF | 2.32% | 5.01% | 6.32% | 6.54% | 1.27% |
BUCK Simplify Treasury Option Income ETF | 2.36% | 4.13% | 7.25% | 4.63% | 0.59% |
Correlation
The correlation between FLRN and BUCK is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2022 | 0.03 |
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Return for Risk
FLRN vs. BUCK — Risk / Return Rank
FLRN
BUCK
FLRN vs. BUCK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Bloomberg Investment Grade Floating Rate ETF (FLRN) and Simplify Treasury Option Income ETF (BUCK). 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.
| FLRN | BUCK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.23 | ||
| Sortino ratioReturn per unit of downside risk | +8.36 | ||
| Omega ratioGain probability vs. loss probability | 3.18 | 1.55 | +1.63 |
| Calmar ratioReturn relative to maximum drawdown | 20.52 | 8.45 | +12.07 |
| Martin ratioReturn relative to average drawdown | 121.58 | 38.55 | +83.03 |
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Drawdowns
FLRN vs. BUCK - Drawdown Comparison
The maximum FLRN drawdown since its inception was -14.64%, which is greater than BUCK's maximum drawdown of -5.43%. Use the drawdown chart below to compare losses from any high point for FLRN and BUCK.
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Drawdown Indicators
| FLRN | BUCK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.64% | -5.43% | -9.21% |
Max Drawdown (1Y)Largest decline over 1 year | -0.23% | -0.84% | +0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -1.43% | -5.43% | +4.00% |
Max Drawdown (5Y)Largest decline over 5 years | -2.16% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.64% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.09% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -1.81% | -0.48% | -1.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 0.19% | -0.15% |
Volatility
FLRN vs. BUCK - Volatility Comparison
The current volatility for State Street SPDR Bloomberg Investment Grade Floating Rate ETF (FLRN) is 0.17%, while Simplify Treasury Option Income ETF (BUCK) has a volatility of 0.44%. This indicates that FLRN experiences smaller price fluctuations and is considered to be less risky than BUCK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLRN | BUCK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.17% | 0.44% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 0.54% | 1.34% | -0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.69% | 2.80% | -2.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.69% | 3.44% | -1.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.20% | 3.44% | +0.76% |
FLRN vs. BUCK - Expense Ratio Comparison
FLRN has a 0.15% expense ratio, which is lower than BUCK's 0.35% expense ratio.
Dividends
FLRN vs. BUCK - Dividend Comparison
FLRN's dividend yield for the trailing twelve months is around 4.44%, less than BUCK's 7.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BUCK Simplify Treasury Option Income ETF | 7.29% | 7.59% | 8.84% | 4.84% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FLRN State Street SPDR Bloomberg Investment Grade Floating Rate ETF | 4.44% | 4.89% | 5.67% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% |
Frequently Asked Questions
FLRN and BUCK have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BUCK has higher volatility (0.44%) compared to FLRN (0.17%). In terms of maximum drawdown, FLRN dropped -14.64% vs BUCK's -5.43%.
On 3-year performance, FLRN leads with 5.57% vs 5.19% for BUCK. On fees, FLRN is cheaper at 0.15% per year. On volatility, FLRN has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FLRN has performed better with a 5.57% return vs 5.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLRN is cheaper with a 0.15% expense ratio, compared with 0.35% for BUCK.
BUCK has the higher dividend yield at 7.29%, compared with 4.44% for FLRN.
FLRN is categorized as Ultrashort Bond, while BUCK is Government Bonds. They also come from different issuers: State Street and Simplify. Their fees differ too: 0.15% for FLRN and 0.35% for BUCK.
FLRN currently has the higher Sharpe Ratio (6.75 vs 2.53), 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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