PLW vs. USFR
PLW (Invesco 1-30 Laddered Treasury ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both Government Bonds funds - PLW tracks the Ryan/NASDAQ 1-30 Year Treasury Laddered Index while USFR tracks the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 10 years, PLW returned -0.10%/yr vs 2.47%/yr for USFR. At a correlation of -0.00, they often move in opposite directions. PLW charges 0.25%/yr vs 0.15%/yr for USFR.
Performance
PLW vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, PLW achieves a -0.55% return, which is significantly lower than USFR's 1.60% return. Over the past 10 years, PLW has underperformed USFR with an annualized return of -0.10%, while USFR has yielded a comparatively higher 2.47% annualized return.
PLW
- 1D
- -0.33%
- 1M
- 0.34%
- YTD
- -0.55%
- 6M
- -1.32%
- 1Y
- 4.34%
- 3Y*
- 0.89%
- 5Y*
- -2.77%
- 10Y*
- -0.10%
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%
PLW vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PLW Invesco 1-30 Laddered Treasury ETF | -0.55% | 5.84% | -2.95% | 3.31% | -19.98% | -3.76% | 12.55% | 10.00% | -0.28% | 4.96% |
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 PLW and USFR is -0.09, 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 | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2014 | -0.00 |
The correlation between PLW and USFR shifts across timeframes, from -0.09 (1 year) to 0.01 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PLW vs. USFR — Risk / Return Rank
PLW
USFR
PLW vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco 1-30 Laddered Treasury ETF (PLW) 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.
| PLW | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -14.45 | ||
| Sortino ratioReturn per unit of downside risk | -49.64 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 13.43 | -12.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 203.42 | -202.62 |
| Martin ratioReturn relative to average drawdown | 2.24 | 787.84 | -785.60 |
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
| PLW | USFR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.66 | 15.11 | -14.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | 9.26 | -9.54 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.01 | 3.07 | -3.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 1.60 | -1.29 |
Drawdowns
PLW vs. USFR - Drawdown Comparison
The maximum PLW drawdown since its inception was -32.70%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for PLW and USFR.
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Drawdown Indicators
| PLW | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.70% | -1.36% | -31.34% |
Max Drawdown (1Y)Largest decline over 1 year | -5.45% | -0.02% | -5.43% |
Max Drawdown (3Y)Largest decline over 3 years | -11.58% | -0.06% | -11.52% |
Max Drawdown (5Y)Largest decline over 5 years | -28.30% | -0.18% | -28.12% |
Max Drawdown (10Y)Largest decline over 10 years | -32.70% | -0.80% | -31.90% |
Current DrawdownCurrent decline from peak | -22.38% | 0.00% | -22.38% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -0.16% | -9.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.94% | 0.01% | +1.93% |
Volatility
PLW vs. USFR - Volatility Comparison
Invesco 1-30 Laddered Treasury ETF (PLW) has a higher volatility of 2.04% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. This indicates that PLW'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
| PLW | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.04% | 0.06% | +1.98% |
Volatility (6M)Calculated over the trailing 6-month period | 4.53% | 0.18% | +4.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.58% | 0.27% | +6.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.86% | 0.40% | +9.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.10% | 0.81% | +8.29% |
PLW vs. USFR - Expense Ratio Comparison
PLW has a 0.25% expense ratio, which is higher than USFR's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PLW vs. USFR - Dividend Comparison
PLW's dividend yield for the trailing twelve months is around 3.83%, less than USFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PLW Invesco 1-30 Laddered Treasury ETF | 3.83% | 3.75% | 3.56% | 2.87% | 1.97% | 1.15% | 1.00% | 1.96% | 2.14% | 2.02% | 2.00% | 2.14% |
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
PLW and USFR have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PLW has higher volatility (2.04%) compared to USFR (0.06%). In terms of maximum drawdown, PLW dropped -32.70% vs USFR's -1.36%.
On 10-year performance, USFR leads with 2.47% vs -0.10% for PLW. On fees, USFR is cheaper at 0.15% per year. 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 -0.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 0.25% for PLW.
USFR has the higher dividend yield at 3.91%, compared with 3.83% for PLW.
PLW tracks Ryan/NASDAQ 1-30 Year Treasury Laddered Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.25% for PLW and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (15.11 vs 0.66), 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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