FLRN vs. SGOV
Compare and contrast key facts about SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) and iShares 0-3 Month Treasury Bond ETF (SGOV).
FLRN and SGOV 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. SGOV is a passively managed fund by iShares that tracks the performance of the ICE 0-3 Month US Treasury Bill Index. It was launched on May 26, 2020. Both FLRN and SGOV 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 SGOV.
Key characteristics
| FLRN | SGOV | |
|---|---|---|
| YTD Return | 2.27% | 1.75% |
| 1Y Return | 6.88% | 5.42% |
| 3Y Return (Ann) | 3.42% | 2.82% |
| Sharpe Ratio | 6.50 | 22.00 |
| Daily Std Dev | 1.06% | 0.25% |
| Max Drawdown | -14.64% | -0.03% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between FLRN and SGOV is 0.13, 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. SGOV - Performance Comparison
In the year-to-date period, FLRN achieves a 2.27% return, which is significantly higher than SGOV's 1.75% return. 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. SGOV - Expense Ratio Comparison
FLRN has a 0.15% expense ratio, which is higher than SGOV's 0.03% 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%.
Risk-Adjusted Performance
FLRN vs. SGOV - 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 0-3 Month Treasury Bond ETF (SGOV). 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. SGOV - Dividend Comparison
FLRN's dividend yield for the trailing twelve months is around 5.77%, more than SGOV's 5.13% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 5.33% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% | 0.53% | 0.72% |
SGOV iShares 0-3 Month Treasury Bond ETF | 4.74% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FLRN vs. SGOV - Drawdown Comparison
The maximum FLRN drawdown since its inception was -14.64%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for FLRN and SGOV. For additional features, visit the drawdowns tool.
Volatility
FLRN vs. SGOV - Volatility Comparison
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) has a higher volatility of 0.15% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.07%. This indicates that FLRN's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.