FTSD vs. USFR
FTSD (Franklin Short Duration U.S. Government ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - FTSD is a Mortgage Backed Securities fund actively managed by Franklin Templeton, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. FTSD is actively managed, while USFR is passively managed. Over the past 10 years, FTSD returned 2.06%/yr vs 2.43%/yr for USFR. At a 0.05 correlation, their price movements are largely independent. FTSD charges 0.25%/yr vs 0.15%/yr for USFR.
Performance
FTSD vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, FTSD achieves a 0.92% return, which is significantly lower than USFR's 1.78% return. Over the past 10 years, FTSD has underperformed USFR with an annualized return of 2.06%, while USFR has yielded a comparatively higher 2.43% annualized return.
FTSD
- 1D
- 0.01%
- 1M
- 0.44%
- YTD
- 0.92%
- 6M
- 1.17%
- 1Y
- 4.07%
- 3Y*
- 4.98%
- 5Y*
- 2.55%
- 10Y*
- 2.06%
USFR
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 1.78%
- 6M
- 1.89%
- 1Y
- 3.97%
- 3Y*
- 4.72%
- 5Y*
- 3.70%
- 10Y*
- 2.43%
FTSD vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTSD Franklin Short Duration U.S. Government ETF | 0.92% | 5.66% | 5.20% | 4.84% | -3.13% | -0.90% | 3.13% | 2.40% | 1.64% | 0.63% |
USFR WisdomTree Floating Rate Treasury Fund | 1.78% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 1.03% |
Correlation
The correlation between FTSD and USFR is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | 0.05 |
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Return for Risk
FTSD vs. USFR — Risk / Return Rank
FTSD
USFR
FTSD vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Short Duration U.S. Government ETF (FTSD) and WisdomTree Floating Rate Treasury Fund (USFR). 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.
| FTSD | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -11.63 | ||
| Sortino ratioReturn per unit of downside risk | -45.22 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 13.24 | -11.63 |
| Calmar ratioReturn relative to maximum drawdown | 9.05 | 200.29 | -191.24 |
| Martin ratioReturn relative to average drawdown | 35.28 | 775.73 | -740.45 |
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Drawdowns
FTSD vs. USFR - Drawdown Comparison
The maximum FTSD drawdown since its inception was -5.32%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for FTSD and USFR.
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Drawdown Indicators
| FTSD | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.32% | -1.36% | -3.96% |
Max Drawdown (1Y)Largest decline over 1 year | -0.45% | -0.02% | -0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -0.93% | -0.06% | -0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -4.96% | -0.18% | -4.78% |
Max Drawdown (10Y)Largest decline over 10 years | -5.32% | -0.80% | -4.52% |
Current DrawdownCurrent decline from peak | -0.21% | 0.00% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -0.60% | -0.15% | -0.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 0.01% | +0.11% |
Volatility
FTSD vs. USFR - Volatility Comparison
Franklin Short Duration U.S. Government ETF (FTSD) has a higher volatility of 0.57% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.08%. This indicates that FTSD's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTSD | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 0.08% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 1.09% | 0.19% | +0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.36% | 0.27% | +1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.86% | 0.40% | +1.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.76% | 0.78% | +0.98% |
FTSD vs. USFR - Expense Ratio Comparison
FTSD has a 0.25% expense ratio, which is higher than USFR's 0.15% 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
FTSD vs. USFR - Dividend Comparison
FTSD's dividend yield for the trailing twelve months is around 4.50%, more than USFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTSD Franklin Short Duration U.S. Government ETF | 4.50% | 4.67% | 4.75% | 4.14% | 1.73% | 1.01% | 1.54% | 2.90% | 2.63% | 2.24% | 1.92% | 1.52% |
USFR WisdomTree Floating Rate Treasury Fund | 3.91% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% | 0.00% |
Frequently Asked Questions
FTSD and USFR have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FTSD has higher volatility (0.57%) compared to USFR (0.08%). In terms of maximum drawdown, FTSD dropped -5.32% vs USFR's -1.36%.
On 10-year performance, USFR leads with 2.43% vs 2.06% for FTSD. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USFR has performed better with a 2.43% return vs 2.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 0.25% for FTSD.
FTSD has the higher dividend yield at 4.50%, compared with 3.91% for USFR.
FTSD is categorized as Mortgage Backed Securities, while USFR is Government Bonds. They also come from different issuers: Franklin Templeton and WisdomTree. Their fees differ too: 0.25% for FTSD and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.65 vs 3.02), 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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