FLRN vs. SPTU
FLRN (State Street SPDR Bloomberg Investment Grade Floating Rate ETF) and SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) are both Ultrashort Bond funds from State Street - FLRN tracks the Bloomberg U.S. Dollar Floating Rate Note < 5 Years Index while SPTU tracks the ICE BofA US Treasury Bill Index. Both are passively managed. At a 0.11 correlation, their price movements are largely independent. FLRN charges 0.15%/yr vs 0.05%/yr for SPTU.
Performance
FLRN vs. SPTU - Performance Comparison
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Returns By Period
In the year-to-date period, FLRN achieves a 2.32% return, which is significantly higher than SPTU's 1.86% return.
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%
SPTU
- 1D
- 0.00%
- 1M
- 0.26%
- 6M
- 1.74%
- YTD
- 1.86%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FLRN vs. SPTU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FLRN State Street SPDR Bloomberg Investment Grade Floating Rate ETF | 2.32% | 1.06% |
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF | 1.86% | 0.87% |
Correlation
The correlation between FLRN and SPTU is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 8, 2025 | 0.11 |
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Return for Risk
FLRN vs. SPTU — Risk / Return Rank
FLRN
SPTU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FLRN vs. SPTU - 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 State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). 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 | SPTU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 3.18 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 20.52 | — | — |
| Martin ratioReturn relative to average drawdown | 121.58 | — | — |
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Drawdowns
FLRN vs. SPTU - Drawdown Comparison
The maximum FLRN drawdown since its inception was -14.64%, which is greater than SPTU's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for FLRN and SPTU.
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Drawdown Indicators
| FLRN | SPTU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.64% | -0.04% | -14.60% |
Max Drawdown (1Y)Largest decline over 1 year | -0.23% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -1.43% | — | — |
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% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.81% | -0.00% | -1.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | — | — |
Volatility
FLRN vs. SPTU - Volatility Comparison
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Volatility by Period
| FLRN | SPTU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.17% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.54% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.69% | 0.32% | +0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.69% | 0.32% | +1.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.20% | 0.32% | +3.88% |
FLRN vs. SPTU - Expense Ratio Comparison
FLRN has a 0.15% expense ratio, which is higher than SPTU's 0.05% 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. SPTU - Dividend Comparison
FLRN's dividend yield for the trailing twelve months is around 4.44%, more than SPTU's 2.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF | 2.66% | 0.89% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FLRN and SPTU have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPTU is cheaper with a 0.05% expense ratio, compared with 0.15% for FLRN.
FLRN has the higher dividend yield at 4.44%, compared with 2.66% for SPTU.
FLRN tracks Bloomberg U.S. Dollar Floating Rate Note < 5 Years Index, while SPTU tracks ICE BofA US Treasury Bill Index. Their fees differ too: 0.15% for FLRN and 0.05% for SPTU.
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