FLRN vs. FLOT
FLRN (SPDR Bloomberg Barclays Investment Grade Floating Rate ETF) and FLOT (iShares Floating Rate Bond ETF) are both exchange-traded funds - FLRN is a Corporate Bonds fund tracking the Bloomberg US Floating Rate Notes (<5 Y), while FLOT is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note < 5 Years Index. Both are passively managed. Over the past 10 years, FLRN returned 3.04%/yr vs 3.04%/yr for FLOT. At a 0.24 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
FLRN vs. FLOT - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FLRN having a 2.03% return and FLOT slightly lower at 2.01%. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: FLRN at 3.04% and FLOT at 3.04%.
FLRN
- 1D
- 0.00%
- 1M
- 0.35%
- YTD
- 2.03%
- 6M
- 2.13%
- 1Y
- 4.78%
- 3Y*
- 5.58%
- 5Y*
- 4.22%
- 10Y*
- 3.04%
FLOT
- 1D
- -0.02%
- 1M
- 0.31%
- YTD
- 2.01%
- 6M
- 2.15%
- 1Y
- 4.74%
- 3Y*
- 5.59%
- 5Y*
- 4.22%
- 10Y*
- 3.04%
FLRN vs. FLOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 2.03% | 5.01% | 6.32% | 6.54% | 1.31% | 0.39% | 0.77% | 4.02% | 1.39% | 1.81% |
FLOT iShares Floating Rate Bond ETF | 2.01% | 4.91% | 6.53% | 6.43% | 1.28% | 0.45% | 0.87% | 3.97% | 1.48% | 1.65% |
Correlation
The correlation between FLRN and FLOT is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2011 | 0.24 |
Over the past year, FLRN and FLOT have become more correlated (0.53) than their long-term average of 0.24, meaning their price movements have been converging.
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Return for Risk
FLRN vs. FLOT — Risk / Return Rank
FLRN
FLOT
FLRN vs. FLOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) and iShares Floating Rate Bond ETF (FLOT). 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 | FLOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 3.24 | 3.11 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 21.09 | 11.03 | +10.05 |
| Martin ratioReturn relative to average drawdown | 124.77 | 102.10 | +22.67 |
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Drawdowns
FLRN vs. FLOT - Drawdown Comparison
The maximum FLRN drawdown since its inception was -14.64%, which is greater than FLOT's maximum drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for FLRN and FLOT.
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Drawdown Indicators
| FLRN | FLOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.64% | -13.54% | -1.10% |
Max Drawdown (1Y)Largest decline over 1 year | -0.23% | -0.43% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -1.43% | -1.57% | +0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -2.16% | -2.36% | +0.20% |
Max Drawdown (10Y)Largest decline over 10 years | -14.64% | -13.54% | -1.10% |
Current DrawdownCurrent decline from peak | 0.00% | -0.02% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -1.82% | -0.21% | -1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 0.05% | -0.01% |
Volatility
FLRN vs. FLOT - Volatility Comparison
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) and iShares Floating Rate Bond ETF (FLOT) have volatilities of 0.20% and 0.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLRN | FLOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.20% | 0.21% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.54% | 0.63% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.70% | 0.75% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.69% | 1.78% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.21% | 4.15% | +0.06% |
FLRN vs. FLOT - Expense Ratio Comparison
Both FLRN and FLOT 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
FLRN vs. FLOT - Dividend Comparison
FLRN's dividend yield for the trailing twelve months is around 4.50%, which matches FLOT's 4.53% 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% |
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 4.50% | 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 FLOT have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLOT has higher volatility (0.21%) compared to FLRN (0.20%). In terms of maximum drawdown, FLRN dropped -14.64% vs FLOT's -13.54%.
On 10-year performance, FLOT leads with 3.04% vs 3.04% for FLRN. Both ETFs have the same 0.15% expense ratio. Their volatility is very similar. 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 3.04% return vs 3.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLRN and FLOT have the same expense ratio: 0.15% per year.
FLOT has the higher dividend yield at 4.53%, compared with 4.50% for FLRN.
FLRN is categorized as Corporate Bonds, while FLOT is Ultrashort Bond. FLRN tracks Bloomberg US Floating Rate Notes (<5 Y), while FLOT tracks Bloomberg US Floating Rate Note < 5 Years Index. They also come from different issuers: State Street and iShares.
FLRN currently has the higher Sharpe Ratio (6.89 vs 6.36), 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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