GOVZ vs. USFR
GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both Government Bonds funds - GOVZ tracks the ICE BofA Long US Treasury Principal STRIPS Index while USFR tracks the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 5 years, GOVZ returned -11.53%/yr vs 3.66%/yr for USFR. At a 0.03 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
GOVZ vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, GOVZ achieves a -0.94% return, which is significantly lower than USFR's 1.60% return.
GOVZ
- 1D
- -0.50%
- 1M
- 1.73%
- YTD
- -0.94%
- 6M
- -4.35%
- 1Y
- 3.91%
- 3Y*
- -7.43%
- 5Y*
- -11.53%
- 10Y*
- —
USFR
- 1D
- 0.02%
- 1M
- 0.29%
- YTD
- 1.60%
- 6M
- 1.98%
- 1Y
- 4.03%
- 3Y*
- 4.76%
- 5Y*
- 3.66%
- 10Y*
- 2.47%
GOVZ vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | -0.94% | -1.81% | -16.24% | 0.90% | -41.03% | -4.86% | -5.61% |
USFR WisdomTree Floating Rate Treasury Fund | 1.60% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | -0.05% |
Correlation
The correlation between GOVZ and USFR is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2020 | 0.03 |
The correlation between GOVZ and USFR shifts across timeframes, from -0.14 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GOVZ vs. USFR — Risk / Return Rank
GOVZ
USFR
GOVZ vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) 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.
| GOVZ | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -14.87 | ||
| Sortino ratioReturn per unit of downside risk | -50.17 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 13.43 | -12.38 |
| Calmar ratioReturn relative to maximum drawdown | 0.28 | 203.42 | -203.14 |
| Martin ratioReturn relative to average drawdown | 0.63 | 787.84 | -787.21 |
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
| GOVZ | USFR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.24 | 15.11 | -14.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.48 | 9.26 | -9.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 3.07 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.58 | 1.60 | -2.19 |
Drawdowns
GOVZ vs. USFR - Drawdown Comparison
The maximum GOVZ drawdown since its inception was -59.65%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for GOVZ and USFR.
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Drawdown Indicators
| GOVZ | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.65% | -1.36% | -58.29% |
Max Drawdown (1Y)Largest decline over 1 year | -14.16% | -0.02% | -14.14% |
Max Drawdown (3Y)Largest decline over 3 years | -28.72% | -0.06% | -28.66% |
Max Drawdown (5Y)Largest decline over 5 years | -57.63% | -0.18% | -57.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.80% | — |
Current DrawdownCurrent decline from peak | -56.47% | 0.00% | -56.47% |
Average DrawdownAverage peak-to-trough decline | -39.91% | -0.16% | -39.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.21% | 0.01% | +6.20% |
Volatility
GOVZ vs. USFR - Volatility Comparison
iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a higher volatility of 4.27% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. This indicates that GOVZ'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
| GOVZ | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.27% | 0.06% | +4.21% |
Volatility (6M)Calculated over the trailing 6-month period | 10.50% | 0.18% | +10.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.26% | 0.27% | +15.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.93% | 0.40% | +23.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.35% | 0.81% | +22.54% |
GOVZ vs. USFR - Expense Ratio Comparison
Both GOVZ 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
GOVZ vs. USFR - Dividend Comparison
GOVZ's dividend yield for the trailing twelve months is around 5.18%, more than USFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 5.18% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% | 0.00% | 0.00% | 0.00% | 0.00% |
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% |
Frequently Asked Questions
GOVZ and USFR have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVZ has higher volatility (4.27%) compared to USFR (0.06%). In terms of maximum drawdown, GOVZ dropped -59.65% vs USFR's -1.36%.
On 5-year performance, USFR leads with 3.66% vs -11.53% for GOVZ. 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 5-year period, USFR has performed better with a 3.66% return vs -11.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOVZ and USFR have the same expense ratio: 0.15% per year.
GOVZ has the higher dividend yield at 5.18%, compared with 3.91% for USFR.
GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: iShares and WisdomTree.
USFR currently has the higher Sharpe Ratio (15.11 vs 0.24), 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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