IBTR vs. USFR

Last updated Jul 12, 2026

IBTR (iShares iBonds Dec 2036 Term Treasury ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both Government Bonds funds - IBTR tracks the ICE 2036 Maturity US Treasury Index while USFR tracks the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. At a correlation of -0.07, they often move in opposite directions. IBTR charges 0.07%/yr vs 0.15%/yr for USFR.

Performance

IBTR vs. USFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2036 Term Treasury ETF (IBTR) and WisdomTree Floating Rate Treasury Fund (USFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBTR

• 1D: -0.12%
• 1M: -0.45%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USFR

• 1D: 0.02%
• 1M: 0.30%
• 6M: 1.90%
• YTD: 2.01%
• 1Y: 3.93%
• 3Y*: 4.71%
• 5Y*: 3.75%
• 10Y*: 2.49%

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

IBTR vs. USFR - Yearly Performance Comparison

	2026 (YTD)
IBTR iShares iBonds Dec 2036 Term Treasury ETF	-0.16%
USFR WisdomTree Floating Rate Treasury Fund	1.12%

Correlation

The correlation between IBTR and USFR is -0.07, 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	-0.07

Return for Risk

IBTR vs. USFR — Risk / Return Rank

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

IBTR

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

USFR

USFR Risk / Return Rank: 100
USFR Sharpe Ratio Rank: 100
USFR Sortino Ratio Rank: 100
USFR Omega Ratio Rank: 100
USFR Calmar Ratio Rank: 100
USFR 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.

IBTR vs. USFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2036 Term Treasury ETF (IBTR) 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.

	IBTR	USFR	Difference
Sharpe ratio: Return per unit of total volatility	—	14.83	—
Sortino ratio: Return per unit of downside risk	—	51.65	—
Omega ratio: Gain probability vs. loss probability	—	14.08	—
Calmar ratio: Return relative to maximum drawdown	—	200.62	—
Martin ratio: Return relative to average drawdown	—	801.27	—

Drawdowns

IBTR vs. USFR - Drawdown Comparison

The maximum IBTR drawdown since its inception was -2.88%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for IBTR and USFR.

Drawdown Indicators

	IBTR	USFR	Difference
Max Drawdown Largest peak-to-trough decline	-2.88%	-1.36%	-1.52%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.80%	—
Current Drawdown Current decline from peak	-1.41%	0.00%	-1.41%
Average Drawdown Average peak-to-trough decline	-0.92%	-0.15%	-0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	IBTR	USFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.19%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.42%	0.27%	+5.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.42%	0.39%	+5.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.42%	0.77%	+4.65%

IBTR vs. USFR - Expense Ratio Comparison

IBTR has a 0.07% expense ratio, which is lower than USFR'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

IBTR vs. USFR - Dividend Comparison

IBTR's dividend yield for the trailing twelve months is around 1.00%, less than USFR's 3.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IBTR iShares iBonds Dec 2036 Term Treasury ETF	1.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USFR WisdomTree Floating Rate Treasury Fund	3.84%	4.15%	5.17%	5.12%	1.78%	0.01%	0.40%	2.08%	1.67%	1.03%	0.29%

Frequently Asked Questions

Can I hold both IBTR and USFR in my portfolio?

IBTR and USFR have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBTR or USFR?

On fees, IBTR 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, IBTR or USFR?

IBTR is cheaper with a 0.07% expense ratio, compared with 0.15% for USFR.

Which ETF pays a higher dividend yield, IBTR or USFR?

USFR has the higher dividend yield at 3.84%, compared with 1.00% for IBTR.

What is the main difference between IBTR and USFR?

IBTR tracks ICE 2036 Maturity US Treasury Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.07% for IBTR and 0.15% for USFR.