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 -14.55%/yr vs 3.81%/yr for USFR. Their 0.02 correlation means their historical movements had little consistent relationship. 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 -6.61% return, which is significantly lower than USFR's 2.29% return.
GOVZ
- 1D
- 0.34%
- 1M
- -6.59%
- 6M
- -5.59%
- YTD
- -6.61%
- 1Y
- -7.04%
- 3Y*
- -6.86%
- 5Y*
- -14.55%
- 10Y*
- —
- ALL TIME*
- -14.11%
USFR
- 1D
- 0.02%
- 1M
- 0.36%
- 6M
- 1.91%
- YTD
- 2.29%
- 1Y
- 3.97%
- 3Y*
- 4.68%
- 5Y*
- 3.81%
- 10Y*
- 2.48%
- ALL TIME*
- 1.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.32M | $6.57M | $8.03M | |
| $329.70M | $258.22M | $246.25M |
GOVZ vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | -6.61% | -1.81% | -16.24% | 0.90% | -41.03% | -4.86% | -5.61% |
USFR WisdomTree Floating Rate Treasury Fund | 2.29% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | -0.05% |
Correlation
The correlation between GOVZ and USFR is -0.15, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.15 |
Correlation (3Y) Balances recent behavior with more history. | -0.11 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | 0.02 |
The correlation between GOVZ and USFR shifts across timeframes, from -0.15 (1 year) to 0.02 (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.
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.
| GOVZ | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -15.10 | ||
| Sortino ratioReturn per unit of downside risk | -52.15 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 14.07 | -13.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 200.37 | -200.85 |
| Martin ratioReturn relative to average drawdown | -0.96 | 800.41 | -801.38 |
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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 | -14.87% | -0.02% | -14.85% |
Max Drawdown (3Y)Largest decline over 3 years | -26.42% | -0.06% | -26.36% |
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 | -58.96% | 0.00% | -58.96% |
Average DrawdownAverage peak-to-trough decline | -40.35% | -0.15% | -40.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.33% | 0.00% | +7.33% |
Volatility
GOVZ vs. USFR - Volatility Comparison
iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a higher volatility of 4.53% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.09%. 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 | 4.53% | 0.09% | +4.44% |
Volatility (6M)Calculated over the trailing 6-month period | 11.06% | 0.20% | +10.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.52% | 0.27% | +15.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.80% | 0.39% | +23.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.17% | 0.76% | +22.41% |
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 5.53%, more than USFR's 3.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 5.53% | 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 | 3.79% | 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 -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVZ has higher volatility (4.53%) compared to USFR (0.09%). In terms of maximum drawdown, GOVZ dropped -59.65% vs USFR's -1.36%.
On 5-year performance, USFR leads with 3.81% vs -14.55% for GOVZ. Both ETFs have the same 0.15% expense ratio. On volatility, USFR has been the lower-risk option at 0.09%. 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 3.81% return vs -14.55%. 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 5.53%, compared with 3.79% 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 (14.64 vs -0.46), 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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