IBDO vs. FLOT

Last updated Jun 24, 2026

IBDO (iShares iBonds Dec 2023 Term Corporate ETF) and FLOT (iShares Floating Rate Bond ETF) are both exchange-traded funds - IBDO is a Corporate Bonds fund tracking the Bloomberg December 2023 Maturity Corporate Index, while FLOT is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note < 5 Years Index. Both are passively managed. At a 0.05 correlation, their price movements are largely independent. IBDO charges 0.10%/yr vs 0.15%/yr for FLOT.

Performance

IBDO vs. FLOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2023 Term Corporate ETF (IBDO) and iShares Floating Rate Bond ETF (FLOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBDO

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FLOT

• 1D: -0.02%
• 1M: 0.31%
• YTD: 2.01%
• 6M: 2.15%
• 1Y: 4.74%
• 3Y*: 5.59%
• 5Y*: 4.22%
• 10Y*: 3.04%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBDO vs. FLOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IBDO iShares iBonds Dec 2023 Term Corporate ETF	0.00%	0.00%	0.00%	4.93%	-0.68%	-0.29%	5.37%	8.94%	-0.49%	4.45%
FLOT iShares Floating Rate Bond ETF	2.01%	4.91%	6.53%	6.43%	1.28%	0.45%	0.87%	3.97%	1.48%	1.65%

Correlation

The correlation between IBDO and FLOT is 0.05, 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 (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Mar 12, 2015	0.05

The correlation between IBDO and FLOT shifts across timeframes, from 0.03 (3 years) to 0.16 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

IBDO vs. FLOT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBDO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FLOT

FLOT Risk / Return Rank: 98
FLOT Sharpe Ratio Rank: 99
FLOT Sortino Ratio Rank: 99
FLOT Omega Ratio Rank: 99
FLOT Calmar Ratio Rank: 97
FLOT Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBDO vs. FLOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2023 Term Corporate ETF (IBDO) and iShares Floating Rate Bond ETF (FLOT). 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.

	IBDO	FLOT	Difference
Sharpe ratio: Return per unit of total volatility	—	6.36	—
Sortino ratio: Return per unit of downside risk	—	11.46	—
Omega ratio: Gain probability vs. loss probability	—	3.11	—
Calmar ratio: Return relative to maximum drawdown	—	11.03	—
Martin ratio: Return relative to average drawdown	—	102.10	—

Drawdowns

Drawdown Indicators

	IBDO	FLOT	Difference
Max Drawdown Largest peak-to-trough decline	—	-13.54%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-0.43%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-1.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-2.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-13.54%	—
Current Drawdown Current decline from peak	—	-0.02%	—
Average Drawdown Average peak-to-trough decline	—	-0.21%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.05%	—

Volatility

Volatility by Period

	IBDO	FLOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.21%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.63%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	0.75%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	1.78%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	4.15%	—

IBDO vs. FLOT - Expense Ratio Comparison

IBDO has a 0.10% expense ratio, which is lower than FLOT's 0.15% 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

IBDO vs. FLOT - Dividend Comparison

IBDO has not paid dividends to shareholders, while FLOT's dividend yield for the trailing twelve months is around 4.53%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLOT iShares Floating Rate Bond ETF	4.53%	4.84%	5.82%	5.66%	2.06%	0.43%	1.25%	2.78%	2.41%	1.46%	0.97%	0.53%
IBDO iShares iBonds Dec 2023 Term Corporate ETF	0.00%	0.00%	0.00%	3.61%	1.85%	2.04%	2.47%	3.01%	3.10%	2.96%	3.01%	2.39%

Frequently Asked Questions

Can I hold both IBDO and FLOT in my portfolio?

IBDO and FLOT have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBDO or FLOT?

On fees, IBDO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBDO or FLOT?

IBDO is cheaper with a 0.10% expense ratio, compared with 0.15% for FLOT.

Which ETF pays a higher dividend yield, IBDO or FLOT?

FLOT has the higher dividend yield at 4.53%, compared with 0.00% for IBDO.

What is the main difference between IBDO and FLOT?

IBDO is categorized as Corporate Bonds, while FLOT is Ultrashort Bond. IBDO tracks Bloomberg December 2023 Maturity Corporate Index, while FLOT tracks Bloomberg US Floating Rate Note < 5 Years Index. Their fees differ too: 0.10% for IBDO and 0.15% for FLOT.