GOVI vs. USFR
GOVI (Invesco Equal Weight 0-30 Year Treasury ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both Government Bonds funds - GOVI tracks the ICE 1-30 Year Laddered Maturity U.S. Treasury Index while USFR tracks the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 10 years, GOVI returned -0.05%/yr vs 2.47%/yr for USFR. At a correlation of -0.00, they often move in opposite directions. Both charge a 0.15% expense ratio.
Performance
GOVI vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, GOVI achieves a -0.34% return, which is significantly lower than USFR's 1.60% return. Over the past 10 years, GOVI has underperformed USFR with an annualized return of -0.05%, while USFR has yielded a comparatively higher 2.47% annualized return.
GOVI
- 1D
- 0.20%
- 1M
- 0.24%
- YTD
- -0.34%
- 6M
- -0.80%
- 1Y
- 3.44%
- 3Y*
- 0.97%
- 5Y*
- -2.73%
- 10Y*
- -0.05%
USFR
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 1.60%
- 6M
- 1.96%
- 1Y
- 4.01%
- 3Y*
- 4.76%
- 5Y*
- 3.66%
- 10Y*
- 2.47%
GOVI vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | -0.34% | 5.84% | -2.95% | 3.31% | -19.98% | -3.76% | 12.55% | 10.00% | -0.28% | 4.96% |
USFR WisdomTree Floating Rate Treasury Fund | 1.60% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 1.03% |
Correlation
The correlation between GOVI and USFR is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2014 | -0.00 |
The correlation between GOVI and USFR shifts across timeframes, from -0.10 (1 year) to 0.01 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GOVI vs. USFR — Risk / Return Rank
GOVI
USFR
GOVI vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) 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.
| GOVI | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -14.48 | ||
| Sortino ratioReturn per unit of downside risk | -49.58 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 13.37 | -12.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.63 | 202.38 | -201.74 |
| Martin ratioReturn relative to average drawdown | 1.76 | 783.80 | -782.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GOVI | USFR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.53 | 15.01 | -14.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | 9.25 | -9.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.01 | 3.07 | -3.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 1.60 | -1.29 |
Drawdowns
GOVI vs. USFR - Drawdown Comparison
The maximum GOVI drawdown since its inception was -32.70%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for GOVI and USFR.
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Drawdown Indicators
| GOVI | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.70% | -1.36% | -31.34% |
Max Drawdown (1Y)Largest decline over 1 year | -5.45% | -0.02% | -5.43% |
Max Drawdown (3Y)Largest decline over 3 years | -11.58% | -0.06% | -11.52% |
Max Drawdown (5Y)Largest decline over 5 years | -28.30% | -0.18% | -28.12% |
Max Drawdown (10Y)Largest decline over 10 years | -32.70% | -0.80% | -31.90% |
Current DrawdownCurrent decline from peak | -22.22% | 0.00% | -22.22% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -0.16% | -9.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 0.01% | +1.94% |
Volatility
GOVI vs. USFR - Volatility Comparison
Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) has a higher volatility of 2.03% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. This indicates that GOVI'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
| GOVI | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.03% | 0.06% | +1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 4.54% | 0.18% | +4.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.58% | 0.27% | +6.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.86% | 0.40% | +9.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.10% | 0.81% | +8.29% |
GOVI vs. USFR - Expense Ratio Comparison
Both GOVI and USFR 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%.
Dividends
GOVI vs. USFR - Dividend Comparison
GOVI's dividend yield for the trailing twelve months is around 3.82%, less than USFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | 3.82% | 3.75% | 3.56% | 2.87% | 1.97% | 1.15% | 1.00% | 1.96% | 2.14% | 2.02% | 2.00% | 2.14% |
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
GOVI and USFR 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.
GOVI has higher volatility (2.03%) compared to USFR (0.06%). In terms of maximum drawdown, GOVI dropped -32.70% vs USFR's -1.36%.
On 10-year performance, USFR leads with 2.47% vs -0.05% for GOVI. Both ETFs have the same 0.15% expense ratio. On volatility, USFR has been the lower-risk option at 0.06%. 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 2.47% return vs -0.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOVI and USFR have the same expense ratio: 0.15% per year.
USFR has the higher dividend yield at 3.91%, compared with 3.82% for GOVI.
GOVI tracks ICE 1-30 Year Laddered Maturity U.S. Treasury Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: Invesco and WisdomTree.
USFR currently has the higher Sharpe Ratio (15.01 vs 0.53), 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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