PSK vs. USFR
PSK (SPDR ICE Preferred Securities ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - PSK is a Preferred Stock/Convertible Bonds fund tracking the PSK-US - ICE Exchange-Listed Fixed& Adjustable Rate Preferred Securities Index, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 10 years, PSK returned 2.00%/yr vs 2.43%/yr for USFR. At a correlation of -0.01, they often move in opposite directions. PSK charges 0.45%/yr vs 0.15%/yr for USFR.
Performance
PSK vs. USFR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PSK achieves a -0.93% return, which is significantly lower than USFR's 1.82% return. Over the past 10 years, PSK has underperformed USFR with an annualized return of 2.00%, while USFR has yielded a comparatively higher 2.43% annualized return.
PSK
- 1D
- 0.03%
- 1M
- -0.91%
- YTD
- -0.93%
- 6M
- -1.06%
- 1Y
- 3.05%
- 3Y*
- 3.78%
- 5Y*
- -1.15%
- 10Y*
- 2.00%
USFR
- 1D
- 0.04%
- 1M
- 0.33%
- YTD
- 1.82%
- 6M
- 1.92%
- 1Y
- 3.99%
- 3Y*
- 4.74%
- 5Y*
- 3.71%
- 10Y*
- 2.43%
PSK vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSK SPDR ICE Preferred Securities ETF | -0.93% | 2.69% | 4.81% | 8.91% | -18.86% | 1.57% | 6.37% | 17.59% | -4.54% | 12.44% |
USFR WisdomTree Floating Rate Treasury Fund | 1.82% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 1.03% |
Correlation
The correlation between PSK and USFR is -0.08, 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 | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | -0.01 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PSK vs. USFR — Risk / Return Rank
PSK
USFR
PSK vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR ICE Preferred Securities ETF (PSK) 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.
| PSK | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -14.17 | ||
| Sortino ratioReturn per unit of downside risk | -49.38 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 13.31 | -12.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 201.33 | -200.78 |
| Martin ratioReturn relative to average drawdown | 1.14 | 779.76 | -778.62 |
Loading charts...
Drawdowns
PSK vs. USFR - Drawdown Comparison
The maximum PSK drawdown since its inception was -30.10%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for PSK and USFR.
Loading charts...
Drawdown Indicators
| PSK | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.10% | -1.36% | -28.74% |
Max Drawdown (1Y)Largest decline over 1 year | -5.50% | -0.02% | -5.48% |
Max Drawdown (3Y)Largest decline over 3 years | -10.30% | -0.06% | -10.24% |
Max Drawdown (5Y)Largest decline over 5 years | -22.23% | -0.18% | -22.05% |
Max Drawdown (10Y)Largest decline over 10 years | -30.10% | -0.80% | -29.30% |
Current DrawdownCurrent decline from peak | -6.31% | 0.00% | -6.31% |
Average DrawdownAverage peak-to-trough decline | -3.98% | -0.15% | -3.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 0.01% | +2.66% |
Volatility
PSK vs. USFR - Volatility Comparison
SPDR ICE Preferred Securities ETF (PSK) has a higher volatility of 1.71% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.09%. This indicates that PSK'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.
Loading charts...
Volatility by Period
| PSK | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 0.09% | +1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 4.33% | 0.19% | +4.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.13% | 0.27% | +5.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.75% | 0.40% | +10.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.92% | 0.78% | +11.14% |
PSK vs. USFR - Expense Ratio Comparison
PSK has a 0.45% expense ratio, which is higher than USFR's 0.15% expense ratio.
Dividends
PSK vs. USFR - Dividend Comparison
PSK's dividend yield for the trailing twelve months is around 7.08%, more than USFR's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSK SPDR ICE Preferred Securities ETF | 7.08% | 6.82% | 6.55% | 6.44% | 6.55% | 5.03% | 5.08% | 5.44% | 6.47% | 6.91% | 5.92% | 5.35% |
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% | 0.00% |
Frequently Asked Questions
PSK and USFR have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSK has higher volatility (1.71%) compared to USFR (0.09%). In terms of maximum drawdown, PSK dropped -30.10% vs USFR's -1.36%.
On 10-year performance, USFR leads with 2.43% vs 2.00% for PSK. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.09%. 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 2.43% return vs 2.00%. 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 0.45% for PSK.
PSK has the higher dividend yield at 7.08%, compared with 3.90% for USFR.
PSK is categorized as Preferred Stock/Convertible Bonds, while USFR is Government Bonds. PSK tracks PSK-US - ICE Exchange-Listed Fixed& Adjustable Rate Preferred Securities Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.45% for PSK and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.67 vs 0.50), 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.
Find the right allocation for PSK and USFR
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer