IBGC vs. TFLO

Last updated Jun 27, 2026

IBGC (iShares iBonds Dec 2046 Term Treasury ETF) and TFLO (iShares Treasury Floating Rate Bond ETF) are both Government Bonds funds from iShares - IBGC tracks the ICE 2046 Maturity US Treasury Index while TFLO tracks the Bloomberg U.S. Treasury Floating Rate Index. Both are passively managed. At a 0.10 correlation, their price movements are largely independent. IBGC charges 0.07%/yr vs 0.15%/yr for TFLO.

Performance

IBGC vs. TFLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2046 Term Treasury ETF (IBGC) and iShares Treasury Floating Rate Bond ETF (TFLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBGC

• 1D: 0.10%
• 1M: 2.56%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TFLO

• 1D: 0.02%
• 1M: 0.33%
• YTD: 1.85%
• 6M: 1.89%
• 1Y: 4.01%
• 3Y*: 4.72%
• 5Y*: 3.69%
• 10Y*: 2.38%

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

IBGC vs. TFLO - Yearly Performance Comparison

	2026 (YTD)
IBGC iShares iBonds Dec 2046 Term Treasury ETF	2.82%
TFLO iShares Treasury Floating Rate Bond ETF	0.98%

Correlation

The correlation between IBGC and TFLO is 0.10, 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 (All Time) Calculated using the full available price history since Mar 26, 2026	0.10

Return for Risk

IBGC vs. TFLO — Risk / Return Rank

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

IBGC

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

TFLO

TFLO Risk / Return Rank: 100
TFLO Sharpe Ratio Rank: 100
TFLO Sortino Ratio Rank: 100
TFLO Omega Ratio Rank: 100
TFLO Calmar Ratio Rank: 100
TFLO Martin Ratio Rank: 100

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.

IBGC vs. TFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2046 Term Treasury ETF (IBGC) and iShares Treasury Floating Rate Bond ETF (TFLO). 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.

	IBGC	TFLO	Difference
Sharpe ratio: Return per unit of total volatility	—	14.21	—
Sortino ratio: Return per unit of downside risk	—	51.37	—
Omega ratio: Gain probability vs. loss probability	—	14.07	—
Calmar ratio: Return relative to maximum drawdown	—	203.31	—
Martin ratio: Return relative to average drawdown	—	831.72	—

Drawdowns

IBGC vs. TFLO - Drawdown Comparison

The maximum IBGC drawdown since its inception was -4.29%, smaller than the maximum TFLO drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for IBGC and TFLO.

Drawdown Indicators

	IBGC	TFLO	Difference
Max Drawdown Largest peak-to-trough decline	-4.29%	-5.01%	+0.72%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.13%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.16%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.14%	-0.10%	-1.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	IBGC	TFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.09%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	8.43%	0.29%	+8.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.43%	0.36%	+8.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.43%	0.46%	+7.97%

IBGC vs. TFLO - Expense Ratio Comparison

IBGC has a 0.07% expense ratio, which is lower than TFLO'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

IBGC vs. TFLO - Dividend Comparison

IBGC's dividend yield for the trailing twelve months is around 0.79%, less than TFLO's 3.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBGC iShares iBonds Dec 2046 Term Treasury ETF	0.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TFLO iShares Treasury Floating Rate Bond ETF	3.89%	4.16%	5.21%	4.88%	1.68%	0.00%	0.36%	2.08%	1.65%	0.86%	0.31%	0.15%

Frequently Asked Questions

Can I hold both IBGC and TFLO in my portfolio?

IBGC and TFLO 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.

Which ETF is better, IBGC or TFLO?

On fees, IBGC is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBGC or TFLO?

IBGC is cheaper with a 0.07% expense ratio, compared with 0.15% for TFLO.

Which ETF pays a higher dividend yield, IBGC or TFLO?

TFLO has the higher dividend yield at 3.89%, compared with 0.79% for IBGC.

What is the main difference between IBGC and TFLO?

IBGC tracks ICE 2046 Maturity US Treasury Index, while TFLO tracks Bloomberg U.S. Treasury Floating Rate Index. Their fees differ too: 0.07% for IBGC and 0.15% for TFLO.