ICPI vs. USFR
ICPI (iShares 0-1 Year TIPS Bond ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - ICPI is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. At a 0.22 correlation, their price movements are largely independent. ICPI charges 0.09%/yr vs 0.15%/yr for USFR.
Performance
ICPI vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, ICPI achieves a 2.42% return, which is significantly higher than USFR's 1.82% return.
ICPI
- 1D
- -0.06%
- 1M
- -0.07%
- YTD
- 2.42%
- 6M
- 2.46%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USFR
- 1D
- 0.00%
- 1M
- 0.33%
- YTD
- 1.82%
- 6M
- 1.92%
- 1Y
- 3.99%
- 3Y*
- 4.74%
- 5Y*
- 3.72%
- 10Y*
- 2.43%
ICPI vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ICPI iShares 0-1 Year TIPS Bond ETF | 2.42% | 0.32% |
USFR WisdomTree Floating Rate Treasury Fund | 1.82% | 0.50% |
Correlation
The correlation between ICPI and USFR is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025 | 0.22 |
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Return for Risk
ICPI vs. USFR — Risk / Return Rank
ICPI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
USFR
ICPI vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-1 Year TIPS Bond ETF (ICPI) 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.
| ICPI | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 13.31 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 201.33 | — |
| Martin ratioReturn relative to average drawdown | — | 779.76 | — |
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Drawdowns
ICPI vs. USFR - Drawdown Comparison
The maximum ICPI drawdown since its inception was -0.34%, smaller than the maximum USFR drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for ICPI and USFR.
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Drawdown Indicators
| ICPI | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.34% | -1.36% | +1.02% |
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 DrawdownCurrent decline from peak | -0.34% | 0.00% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -0.04% | -0.15% | +0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.01% | — |
Volatility
ICPI vs. USFR - Volatility Comparison
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Volatility by Period
| ICPI | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.09% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.19% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.96% | 0.27% | +0.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.96% | 0.40% | +0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.96% | 0.78% | +0.18% |
ICPI vs. USFR - Expense Ratio Comparison
ICPI has a 0.09% 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
ICPI vs. USFR - Dividend Comparison
ICPI's dividend yield for the trailing twelve months is around 1.80%, less than USFR's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
ICPI iShares 0-1 Year TIPS Bond ETF | 1.80% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USFR WisdomTree Floating Rate Treasury Fund | 3.90% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
Frequently Asked Questions
ICPI and USFR have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICPI is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICPI is cheaper with a 0.09% expense ratio, compared with 0.15% for USFR.
USFR has the higher dividend yield at 3.90%, compared with 1.80% for ICPI.
ICPI is categorized as Inflation-Protected Bonds, while USFR is Government Bonds. ICPI tracks ICE U.S. Treasury 0-1 Year Inflation Linked Bond 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: 0.09% for ICPI and 0.15% for USFR.
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