FLRT vs. TBLL

Last updated Jun 9, 2026

FLRT (Pacific Global Senior Loan ETF) and TBLL (Invesco Short Term Treasury ETF) are both exchange-traded funds - FLRT is a High Yield Bonds fund actively managed by Pacific Life, while TBLL is a Ultrashort Bond fund tracking the ICE U.S. Treasury Short Bond Index. FLRT is actively managed, while TBLL is passively managed. Over the past 5 years, FLRT returned 5.93%/yr vs 3.36%/yr for TBLL. At a 0.05 correlation, their price movements are largely independent. FLRT charges 0.69%/yr vs 0.08%/yr for TBLL.

Performance

FLRT vs. TBLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacific Global Senior Loan ETF (FLRT) and Invesco Short Term Treasury ETF (TBLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLRT achieves a 1.66% return, which is significantly higher than TBLL's 1.48% return.

FLRT

• 1D: 0.00%
• 1M: 0.27%
• YTD: 1.66%
• 6M: 2.14%
• 1Y: 5.76%
• 3Y*: 8.70%
• 5Y*: 5.93%
• 10Y*: 4.84%

TBLL

• 1D: 0.02%
• 1M: 0.27%
• YTD: 1.48%
• 6M: 1.74%
• 1Y: 3.91%
• 3Y*: 4.63%
• 5Y*: 3.36%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FLRT vs. TBLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLRT Pacific Global Senior Loan ETF	1.66%	6.24%	9.18%	14.59%	-2.72%	3.18%	2.78%	9.44%	-1.14%	1.72%
TBLL Invesco Short Term Treasury ETF	1.48%	4.21%	5.11%	5.01%	1.11%	-0.01%	0.93%	2.20%	1.85%	0.62%

Correlation

The correlation between FLRT and TBLL is 0.08, 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	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (All Time) Calculated using the full available price history since Jan 13, 2017	0.05

FLRT vs. TBLL - Sectors Allocation Comparison

Sectors	FLRT	TBLL
Financial Services	99.2%	64.1%
Communication Services	0.8%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

FLRT vs. TBLL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLRT

FLRT Risk / Return Rank: 86
FLRT Sharpe Ratio Rank: 96
FLRT Sortino Ratio Rank: 97
FLRT Omega Ratio Rank: 97
FLRT Calmar Ratio Rank: 71
FLRT Martin Ratio Rank: 71

TBLL

TBLL Risk / Return Rank: 100
TBLL Sharpe Ratio Rank: 100
TBLL Sortino Ratio Rank: 100
TBLL Omega Ratio Rank: 100
TBLL Calmar Ratio Rank: 100
TBLL Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FLRT vs. TBLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacific Global Senior Loan ETF (FLRT) and Invesco Short Term Treasury ETF (TBLL). 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.

	FLRT	TBLL	Difference
Sharpe ratio: Return per unit of total volatility	3.65	20.94	-17.29
Sortino ratio: Return per unit of downside risk	5.62	217.24	-211.62
Omega ratio: Gain probability vs. loss probability	1.87	102.42	-100.54
Calmar ratio: Return relative to maximum drawdown	3.26	414.75	-411.50
Martin ratio: Return relative to average drawdown	11.94	3,515.41	-3,503.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLRT vs. TBLL - Sharpe Ratio Comparison

The current FLRT Sharpe Ratio is 3.65, which is lower than the TBLL Sharpe Ratio of 20.94. The chart below compares the historical Sharpe Ratios of FLRT and TBLL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FLRT	TBLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.65	20.94	-17.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.59	7.56	-4.97
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	4.26	-3.52

Drawdowns

FLRT vs. TBLL - Drawdown Comparison

The maximum FLRT drawdown since its inception was -20.96%, which is greater than TBLL's maximum drawdown of -0.63%. Use the drawdown chart below to compare losses from any high point for FLRT and TBLL.

Drawdown Indicators

	FLRT	TBLL	Difference
Max Drawdown Largest peak-to-trough decline	-20.96%	-0.63%	-20.33%
Max Drawdown (1Y) Largest decline over 1 year	-1.78%	-0.01%	-1.77%
Max Drawdown (3Y) Largest decline over 3 years	-2.87%	-0.36%	-2.51%
Max Drawdown (5Y) Largest decline over 5 years	-7.60%	-0.36%	-7.24%
Max Drawdown (10Y) Largest decline over 10 years	-20.96%	—	—
Current Drawdown Current decline from peak	-0.32%	0.00%	-0.32%
Average Drawdown Average peak-to-trough decline	-1.41%	-0.14%	-1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	0.00%	+0.48%

Volatility

FLRT vs. TBLL - Volatility Comparison

Pacific Global Senior Loan ETF (FLRT) has a higher volatility of 0.44% compared to Invesco Short Term Treasury ETF (TBLL) at 0.04%. This indicates that FLRT's price experiences larger fluctuations and is considered to be riskier than TBLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLRT	TBLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.44%	0.04%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	1.21%	0.12%	+1.09%
Volatility (1Y) Calculated over the trailing 1-year period	1.59%	0.19%	+1.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.30%	0.45%	+1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.15%	0.56%	+5.59%

FLRT vs. TBLL - Expense Ratio Comparison

FLRT has a 0.69% expense ratio, which is higher than TBLL's 0.08% expense ratio.

Dividends

FLRT vs. TBLL - Dividend Comparison

FLRT's dividend yield for the trailing twelve months is around 6.82%, more than TBLL's 3.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLRT Pacific Global Senior Loan ETF	6.82%	6.93%	7.93%	8.40%	5.81%	3.16%	3.52%	4.30%	3.95%	3.20%	3.38%	3.21%
TBLL Invesco Short Term Treasury ETF	3.81%	4.08%	4.99%	4.63%	1.37%	0.03%	0.80%	2.08%	1.69%	0.71%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLRT and TBLL in my portfolio?

FLRT and TBLL have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLRT or TBLL?

FLRT has higher volatility (0.44%) compared to TBLL (0.04%). In terms of maximum drawdown, FLRT dropped -20.96% vs TBLL's -0.63%.

Which ETF is better, FLRT or TBLL?

On 5-year performance, FLRT leads with 5.93% vs 3.36% for TBLL. On fees, TBLL is cheaper at 0.08% per year. On volatility, TBLL has been the lower-risk option at 0.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLRT or TBLL?

Over the 5-year period, FLRT has performed better with a 5.93% return vs 3.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLRT or TBLL?

TBLL is cheaper with a 0.08% expense ratio, compared with 0.69% for FLRT.

Which ETF pays a higher dividend yield, FLRT or TBLL?

FLRT has the higher dividend yield at 6.82%, compared with 3.81% for TBLL.

What is the main difference between FLRT and TBLL?

FLRT is categorized as High Yield Bonds, while TBLL is Ultrashort Bond. They also come from different issuers: Pacific Life and Invesco. Their fees differ too: 0.69% for FLRT and 0.08% for TBLL.

Which has better risk-adjusted returns?

TBLL currently has the higher Sharpe Ratio (20.94 vs 3.65), 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.