FLRN vs. SGOV
FLRN (SPDR Bloomberg Barclays Investment Grade Floating Rate ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - FLRN is a Corporate Bonds fund tracking the Bloomberg US Floating Rate Notes (<5 Y), while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, FLRN returned 4.22%/yr vs 3.58%/yr for SGOV. At a 0.12 correlation, their price movements are largely independent. FLRN charges 0.15%/yr vs 0.09%/yr for SGOV.
Performance
FLRN vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, FLRN achieves a 2.03% return, which is significantly higher than SGOV's 1.71% return.
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%
SGOV
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.71%
- 6M
- 1.80%
- 1Y
- 3.92%
- 3Y*
- 4.68%
- 5Y*
- 3.58%
- 10Y*
- —
FLRN vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 2.03% | 5.01% | 6.32% | 6.54% | 1.31% | 0.39% | 1.50% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.71% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between FLRN and SGOV is 0.00, 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 | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | 0.12 |
The correlation between FLRN and SGOV shifts across timeframes, from 0.00 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FLRN vs. SGOV — Risk / Return Rank
FLRN
SGOV
FLRN vs. SGOV - 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 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.
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 | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -13.43 | ||
| Sortino ratioReturn per unit of downside risk | -261.04 | ||
| Omega ratioGain probability vs. loss probability | 3.24 | 194.05 | -190.81 |
| Calmar ratioReturn relative to maximum drawdown | 21.09 | 395.07 | -373.98 |
| Martin ratioReturn relative to average drawdown | 124.77 | 4,426.92 | -4,302.15 |
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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.
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Drawdown Indicators
| FLRN | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.64% | -0.03% | -14.61% |
Max Drawdown (1Y)Largest decline over 1 year | -0.23% | -0.01% | -0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -1.43% | -0.01% | -1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -2.16% | -0.03% | -2.13% |
Max Drawdown (10Y)Largest decline over 10 years | -14.64% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.82% | -0.00% | -1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 0.00% | +0.04% |
Volatility
FLRN vs. SGOV - Volatility Comparison
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) has a higher volatility of 0.20% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. 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.
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Volatility by Period
| FLRN | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.20% | 0.06% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 0.54% | 0.13% | +0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.70% | 0.19% | +0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.69% | 0.24% | +1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.21% | 0.24% | +3.97% |
FLRN vs. SGOV - Expense Ratio Comparison
FLRN has a 0.15% expense ratio, which is higher than SGOV's 0.09% 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
FLRN vs. SGOV - Dividend Comparison
FLRN's dividend yield for the trailing twelve months is around 4.50%, more than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FLRN and SGOV have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLRN has higher volatility (0.20%) compared to SGOV (0.06%). In terms of maximum drawdown, FLRN dropped -14.64% vs SGOV's -0.03%.
On 5-year performance, FLRN leads with 4.22% vs 3.58% for SGOV. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLRN has performed better with a 4.22% return vs 3.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.15% for FLRN.
FLRN has the higher dividend yield at 4.50%, compared with 3.85% for SGOV.
FLRN is categorized as Corporate Bonds, while SGOV is Ultrashort Bond. FLRN tracks Bloomberg US Floating Rate Notes (<5 Y), while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for FLRN and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.32 vs 6.89), 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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