RAVI vs. TFLO
RAVI (FlexShares Ultra-Short Income ETF) and TFLO (iShares Treasury Floating Rate Bond ETF) are both exchange-traded funds - RAVI is a Ultrashort Bond fund actively managed by FlexShares, while TFLO is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Index. RAVI is actively managed, while TFLO is passively managed. Over the past 10 years, RAVI returned 2.70%/yr vs 2.40%/yr for TFLO. At a 0.06 correlation, their price movements are largely independent. RAVI charges 0.25%/yr vs 0.15%/yr for TFLO.
Performance
RAVI vs. TFLO - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with RAVI having a 2.02% return and TFLO slightly higher at 2.04%. Over the past 10 years, RAVI has outperformed TFLO with an annualized return of 2.70%, while TFLO has yielded a comparatively lower 2.40% annualized return.
RAVI
- 1D
- 0.02%
- 1M
- 0.40%
- 6M
- 1.90%
- YTD
- 2.02%
- 1Y
- 4.37%
- 3Y*
- 5.14%
- 5Y*
- 3.60%
- 10Y*
- 2.70%
TFLO
- 1D
- 0.00%
- 1M
- 0.33%
- 6M
- 1.90%
- YTD
- 2.04%
- 1Y
- 3.94%
- 3Y*
- 4.67%
- 5Y*
- 3.72%
- 10Y*
- 2.40%
RAVI vs. TFLO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RAVI FlexShares Ultra-Short Income ETF | 2.02% | 4.98% | 5.67% | 5.55% | 0.15% | -0.04% | 2.06% | 3.49% | 1.65% | 1.22% |
TFLO iShares Treasury Floating Rate Bond ETF | 2.04% | 4.22% | 5.34% | 5.12% | 1.99% | -0.02% | 0.43% | 2.04% | 1.76% | 1.01% |
Correlation
The correlation between RAVI and TFLO is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.06 |
The correlation between RAVI and TFLO shifts across timeframes, from 0.03 (1 year) to 0.15 (5 years), reflecting how their relationship changes across market environments.
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
RAVI vs. TFLO — Risk / Return Rank
RAVI
TFLO
RAVI vs. TFLO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Ultra-Short Income ETF (RAVI) and iShares Treasury Floating Rate Bond ETF (TFLO). 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.
| RAVI | TFLO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.95 | ||
| Sortino ratioReturn per unit of downside risk | -24.08 | ||
| Omega ratioGain probability vs. loss probability | 5.21 | 12.34 | -7.13 |
| Calmar ratioReturn relative to maximum drawdown | 37.55 | 199.41 | -161.86 |
| Martin ratioReturn relative to average drawdown | 214.47 | 766.50 | -552.03 |
Loading charts...
Drawdowns
RAVI vs. TFLO - Drawdown Comparison
The maximum RAVI drawdown since its inception was -3.72%, smaller than the maximum TFLO drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for RAVI and TFLO.
Loading charts...
Drawdown Indicators
| RAVI | TFLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.72% | -5.01% | +1.29% |
Max Drawdown (1Y)Largest decline over 1 year | -0.12% | -0.02% | -0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -0.36% | -0.04% | -0.32% |
Max Drawdown (5Y)Largest decline over 5 years | -3.28% | -0.13% | -3.15% |
Max Drawdown (10Y)Largest decline over 10 years | -3.72% | -0.16% | -3.56% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.17% | -0.10% | -0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.01% | +0.01% |
Volatility
RAVI vs. TFLO - Volatility Comparison
FlexShares Ultra-Short Income ETF (RAVI) has a higher volatility of 0.13% compared to iShares Treasury Floating Rate Bond ETF (TFLO) at 0.10%. This indicates that RAVI's price experiences larger fluctuations and is considered to be riskier than TFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| RAVI | TFLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 0.10% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 0.31% | 0.20% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.41% | 0.29% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.41% | 0.36% | +1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.28% | 0.45% | +0.83% |
RAVI vs. TFLO - Expense Ratio Comparison
RAVI has a 0.25% expense ratio, which is higher than TFLO'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
RAVI vs. TFLO - Dividend Comparison
RAVI's dividend yield for the trailing twelve months is around 4.33%, more than TFLO's 3.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RAVI FlexShares Ultra-Short Income ETF | 4.33% | 4.59% | 5.34% | 4.55% | 1.70% | 0.90% | 1.29% | 2.53% | 2.22% | 1.28% | 0.90% | 0.00% |
TFLO iShares Treasury Floating Rate Bond ETF | 3.84% | 4.16% | 5.21% | 4.88% | 1.68% | 0.00% | 0.36% | 2.08% | 1.65% | 0.86% | 0.31% | 0.15% |
Frequently Asked Questions
RAVI and TFLO have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RAVI has higher volatility (0.13%) compared to TFLO (0.10%). In terms of maximum drawdown, RAVI dropped -3.72% vs TFLO's -5.01%.
On 10-year performance, RAVI leads with 2.70% vs 2.40% for TFLO. On fees, TFLO is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RAVI has performed better with a 2.70% return vs 2.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TFLO is cheaper with a 0.15% expense ratio, compared with 0.25% for RAVI.
RAVI has the higher dividend yield at 4.33%, compared with 3.84% for TFLO.
RAVI is categorized as Ultrashort Bond, while TFLO is Government Bonds. They also come from different issuers: FlexShares and iShares. Their fees differ too: 0.25% for RAVI and 0.15% for TFLO.
TFLO currently has the higher Sharpe Ratio (13.67 vs 10.72), 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 RAVI and TFLO
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