IEI vs. USFR
IEI (iShares 3-7 Year Treasury Bond ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both Government Bonds funds - IEI tracks the ICE U.S. Treasury 3-7 Year Bond Index while USFR tracks the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 10 years, IEI returned 1.28%/yr vs 2.47%/yr for USFR. At a 0.02 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
IEI vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, IEI achieves a -0.42% return, which is significantly lower than USFR's 1.60% return. Over the past 10 years, IEI has underperformed USFR with an annualized return of 1.28%, while USFR has yielded a comparatively higher 2.47% annualized return.
IEI
- 1D
- -0.13%
- 1M
- -0.17%
- YTD
- -0.42%
- 6M
- -0.49%
- 1Y
- 3.28%
- 3Y*
- 3.52%
- 5Y*
- 0.23%
- 10Y*
- 1.28%
USFR
- 1D
- 0.02%
- 1M
- 0.29%
- YTD
- 1.60%
- 6M
- 1.98%
- 1Y
- 4.03%
- 3Y*
- 4.76%
- 5Y*
- 3.66%
- 10Y*
- 2.47%
IEI vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | -0.42% | 6.96% | 1.81% | 4.42% | -9.51% | -2.54% | 6.95% | 5.71% | 1.36% | 1.22% |
USFR WisdomTree Floating Rate Treasury Fund | 1.60% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 1.03% |
Correlation
The correlation between IEI and USFR is 0.02, 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 (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2014 | 0.02 |
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Return for Risk
IEI vs. USFR — Risk / Return Rank
IEI
USFR
IEI vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 3-7 Year Treasury Bond ETF (IEI) 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.
| IEI | USFR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.09 | 15.11 | -14.03 |
Sortino ratioReturn per unit of downside risk | 1.65 | 50.64 | -48.99 |
Omega ratioGain probability vs. loss probability | 1.19 | 13.43 | -12.24 |
Calmar ratioReturn relative to maximum drawdown | 1.32 | 203.42 | -202.10 |
Martin ratioReturn relative to average drawdown | 3.96 | 787.84 | -783.88 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IEI | USFR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 15.11 | -14.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 9.26 | -9.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 3.07 | -2.75 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 1.60 | -0.90 |
Drawdowns
IEI vs. USFR - Drawdown Comparison
The maximum IEI drawdown since its inception was -14.60%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for IEI and USFR.
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Drawdown Indicators
| IEI | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.60% | -1.36% | -13.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -0.02% | -2.48% |
Max Drawdown (3Y)Largest decline over 3 years | -3.66% | -0.06% | -3.60% |
Max Drawdown (5Y)Largest decline over 5 years | -13.88% | -0.18% | -13.70% |
Max Drawdown (10Y)Largest decline over 10 years | -14.60% | -0.80% | -13.80% |
Current DrawdownCurrent decline from peak | -1.85% | 0.00% | -1.85% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -0.16% | -2.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 0.01% | +0.82% |
Volatility
IEI vs. USFR - Volatility Comparison
iShares 3-7 Year Treasury Bond ETF (IEI) has a higher volatility of 0.91% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. This indicates that IEI'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
| IEI | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 0.06% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 2.13% | 0.18% | +1.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 0.27% | +2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.77% | 0.40% | +4.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.93% | 0.81% | +3.12% |
IEI vs. USFR - Expense Ratio Comparison
Both IEI 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
IEI vs. USFR - Dividend Comparison
IEI's dividend yield for the trailing twelve months is around 3.64%, less than USFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | 3.64% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
USFR WisdomTree Floating Rate Treasury Fund | 3.91% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% | 0.00% |
Frequently Asked Questions
IEI and USFR have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEI has higher volatility (0.91%) compared to USFR (0.06%). In terms of maximum drawdown, IEI dropped -14.60% vs USFR's -1.36%.
On 10-year performance, USFR leads with 2.47% vs 1.28% for IEI. Both ETFs have the same 0.15% expense ratio. On volatility, USFR has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USFR has performed better with a 2.47% return vs 1.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEI and USFR have the same expense ratio: 0.15% per year.
USFR has the higher dividend yield at 3.91%, compared with 3.64% for IEI.
IEI tracks ICE U.S. Treasury 3-7 Year Bond 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 (15.11 vs 1.09), 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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