FLTR vs. ULST
FLTR (VanEck IG Floating Rate ETF) and ULST (State Street Ultra Short Term Bond ETF) are both exchange-traded funds - FLTR is a Corporate Bonds fund tracking the MVIS US Investment Grade Floating Rate Index, while ULST is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bellwether 3 Month Index. Both are passively managed. Over the past 10 years, FLTR returned 3.52%/yr vs 2.68%/yr for ULST. At a 0.08 correlation, their price movements are largely independent. FLTR charges 0.14%/yr vs 0.20%/yr for ULST.
Performance
FLTR vs. ULST - Performance Comparison
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Returns By Period
In the year-to-date period, FLTR achieves a 2.46% return, which is significantly higher than ULST's 1.62% return. Over the past 10 years, FLTR has outperformed ULST with an annualized return of 3.52%, while ULST has yielded a comparatively lower 2.68% annualized return.
FLTR
- 1D
- -0.04%
- 1M
- 0.38%
- 6M
- 2.34%
- YTD
- 2.46%
- 1Y
- 5.09%
- 3Y*
- 6.07%
- 5Y*
- 4.58%
- 10Y*
- 3.52%
ULST
- 1D
- 0.00%
- 1M
- 0.26%
- 6M
- 1.50%
- YTD
- 1.62%
- 1Y
- 3.85%
- 3Y*
- 4.87%
- 5Y*
- 3.58%
- 10Y*
- 2.68%
FLTR vs. ULST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLTR VanEck IG Floating Rate ETF | 2.46% | 5.22% | 7.38% | 7.41% | 0.74% | 0.55% | 1.44% | 5.70% | 0.30% | 2.80% |
ULST State Street Ultra Short Term Bond ETF | 1.62% | 4.80% | 5.23% | 5.60% | 0.87% | 0.25% | 1.45% | 3.23% | 2.04% | 1.19% |
Correlation
The correlation between FLTR and ULST is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2013 | 0.08 |
The correlation between FLTR and ULST shifts across timeframes, from -0.10 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FLTR vs. ULST — Risk / Return Rank
FLTR
ULST
FLTR vs. ULST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck IG Floating Rate ETF (FLTR) and State Street Ultra Short Term Bond ETF (ULST). 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.
| FLTR | ULST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 2.92 | 2.70 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 16.28 | 16.34 | -0.06 |
| Martin ratioReturn relative to average drawdown | 94.61 | 84.69 | +9.92 |
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Drawdowns
FLTR vs. ULST - Drawdown Comparison
The maximum FLTR drawdown since its inception was -17.84%, which is greater than ULST's maximum drawdown of -6.20%. Use the drawdown chart below to compare losses from any high point for FLTR and ULST.
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Drawdown Indicators
| FLTR | ULST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.84% | -6.20% | -11.64% |
Max Drawdown (1Y)Largest decline over 1 year | -0.31% | -0.24% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -1.93% | -0.54% | -1.39% |
Max Drawdown (5Y)Largest decline over 5 years | -3.06% | -1.22% | -1.84% |
Max Drawdown (10Y)Largest decline over 10 years | -17.84% | -6.20% | -11.64% |
Current DrawdownCurrent decline from peak | -0.08% | 0.00% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -0.67% | -0.16% | -0.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.05% | 0.00% |
Volatility
FLTR vs. ULST - Volatility Comparison
VanEck IG Floating Rate ETF (FLTR) has a higher volatility of 0.22% compared to State Street Ultra Short Term Bond ETF (ULST) at 0.17%. This indicates that FLTR's price experiences larger fluctuations and is considered to be riskier than ULST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLTR | ULST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.22% | 0.17% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 0.65% | 0.44% | +0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.80% | 0.66% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.13% | 0.97% | +1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.00% | 1.43% | +3.57% |
FLTR vs. ULST - Expense Ratio Comparison
FLTR has a 0.14% expense ratio, which is lower than ULST's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FLTR vs. ULST - Dividend Comparison
FLTR's dividend yield for the trailing twelve months is around 4.64%, more than ULST's 4.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLTR VanEck IG Floating Rate ETF | 4.64% | 4.97% | 5.93% | 6.07% | 2.29% | 0.63% | 1.49% | 3.05% | 2.67% | 1.69% | 1.16% | 0.71% |
ULST State Street Ultra Short Term Bond ETF | 4.24% | 4.46% | 5.03% | 4.45% | 1.70% | 0.54% | 1.34% | 2.56% | 2.13% | 1.21% | 0.93% | 0.37% |
Frequently Asked Questions
FLTR and ULST have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLTR has higher volatility (0.22%) compared to ULST (0.17%). In terms of maximum drawdown, FLTR dropped -17.84% vs ULST's -6.20%.
On 10-year performance, FLTR leads with 3.52% vs 2.68% for ULST. On fees, FLTR is cheaper at 0.14% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FLTR has performed better with a 3.52% return vs 2.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLTR is cheaper with a 0.14% expense ratio, compared with 0.20% for ULST.
FLTR has the higher dividend yield at 4.64%, compared with 4.24% for ULST.
FLTR is categorized as Corporate Bonds, while ULST is Ultrashort Bond. FLTR tracks MVIS US Investment Grade Floating Rate Index, while ULST tracks Bloomberg US Treasury Bellwether 3 Month Index. They also come from different issuers: VanEck and State Street. Their fees differ too: 0.14% for FLTR and 0.20% for ULST.
FLTR currently has the higher Sharpe Ratio (6.35 vs 5.91), 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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