FLRN vs. FLOT
Compare and contrast key facts about SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) and iShares Floating Rate Bond ETF (FLOT).
FLRN and FLOT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLRN is a passively managed fund by State Street that tracks the performance of the Bloomberg US Floating Rate Notes (<5 Y). It was launched on Nov 30, 2011. FLOT is a passively managed fund by iShares that tracks the performance of the Bloomberg US Floating Rate Notes (<5 Y). It was launched on Jun 14, 2011. Both FLRN and FLOT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FLRN or FLOT.
Key characteristics
| FLRN | FLOT | |
|---|---|---|
| YTD Return | 2.21% | 2.34% |
| 1Y Return | 7.05% | 7.13% |
| 3Y Return (Ann) | 3.40% | 3.42% |
| 5Y Return (Ann) | 2.64% | 2.67% |
| 10Y Return (Ann) | 2.04% | 2.02% |
| Sharpe Ratio | 5.51 | 7.09 |
| Daily Std Dev | 1.27% | 1.01% |
| Max Drawdown | -14.64% | -13.54% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between FLRN and FLOT is 0.20, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
FLRN vs. FLOT - Performance Comparison
In the year-to-date period, FLRN achieves a 2.21% return, which is significantly lower than FLOT's 2.34% return. Both investments have delivered pretty close results over the past 10 years, with FLRN having a 2.04% annualized return and FLOT not far behind at 2.02%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FLRN vs. FLOT - Expense Ratio Comparison
FLRN has a 0.15% expense ratio, which is lower than FLOT's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
FLRN vs. FLOT - Risk-Adjusted Performance 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.
Dividends
FLRN vs. FLOT - Dividend Comparison
FLRN's dividend yield for the trailing twelve months is around 5.77%, which matches FLOT's 5.82% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 5.77% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% | 0.53% | 0.72% |
FLOT iShares Floating Rate Bond ETF | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% | 0.44% | 0.47% |
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. For additional features, visit the drawdowns tool.
Volatility
FLRN vs. FLOT - Volatility Comparison
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) has a higher volatility of 0.17% compared to iShares Floating Rate Bond ETF (FLOT) at 0.13%. This indicates that FLRN's price experiences larger fluctuations and is considered to be riskier than FLOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.