FLRN vs. TFLO
Compare and contrast key facts about SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) and iShares Treasury Floating Rate Bond ETF (TFLO).
FLRN and TFLO 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. TFLO is a passively managed fund by iShares that tracks the performance of the Barclays U.S. Treasury Floating Rate Index. It was launched on Feb 3, 2014. Both FLRN and TFLO 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 TFLO.
Key characteristics
| FLRN | TFLO | |
|---|---|---|
| YTD Return | 2.21% | 1.76% |
| 1Y Return | 7.02% | 5.49% |
| 3Y Return (Ann) | 3.40% | 2.94% |
| 5Y Return (Ann) | 2.65% | 2.12% |
| 10Y Return (Ann) | 2.04% | 1.59% |
| Sharpe Ratio | 5.59 | 15.46 |
| Daily Std Dev | 1.28% | 0.36% |
| Max Drawdown | -14.64% | -5.01% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between FLRN and TFLO is 0.04, 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. TFLO - Performance Comparison
In the year-to-date period, FLRN achieves a 2.21% return, which is significantly higher than TFLO's 1.76% return. Over the past 10 years, FLRN has outperformed TFLO with an annualized return of 2.04%, while TFLO has yielded a comparatively lower 1.59% annualized 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. TFLO - Expense Ratio Comparison
Both FLRN and TFLO 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%.
Risk-Adjusted Performance
FLRN vs. TFLO - 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 Treasury Floating Rate Bond ETF (TFLO). 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. TFLO - Dividend Comparison
FLRN's dividend yield for the trailing twelve months is around 5.77%, more than TFLO's 5.24% 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% |
TFLO iShares Treasury Floating Rate Bond ETF | 5.24% | 4.88% | 1.68% | 0.00% | 0.36% | 2.08% | 1.65% | 0.86% | 0.31% | 0.15% | 0.08% | 0.00% |
Drawdowns
FLRN vs. TFLO - Drawdown Comparison
The maximum FLRN drawdown since its inception was -14.64%, which is greater than TFLO's maximum drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for FLRN and TFLO. For additional features, visit the drawdowns tool.
Volatility
FLRN vs. TFLO - Volatility Comparison
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) has a higher volatility of 0.17% compared to iShares Treasury Floating Rate Bond ETF (TFLO) at 0.09%. This indicates that FLRN's price experiences larger fluctuations and is considered to be riskier than TFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.