SPAXX vs. TFLO
Compare and contrast key facts about Fidelity Government Money Market Fund (SPAXX) and iShares Treasury Floating Rate Bond ETF (TFLO).
SPAXX is managed by Fidelity. It was launched on Feb 5, 1990. TFLO is a passively managed fund by iShares that tracks the performance of the Barclays U.S. Treasury Floating Rate Index. It was launched on Feb 3, 2014.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPAXX or TFLO.
Key characteristics
| SPAXX | TFLO | |
|---|---|---|
| YTD Return | 0.86% | 4.59% |
| 1Y Return | 1.27% | 5.24% |
| 3Y Return (Ann) | 2.28% | 3.90% |
| 5Y Return (Ann) | 1.43% | 2.46% |
| 10Y Return (Ann) | 0.78% | 1.84% |
| Sharpe Ratio | 2.27 | 15.84 |
| Ulcer Index | 0.00% | 0.01% |
| Daily Std Dev | 0.79% | 0.34% |
| Max Drawdown | 0.00% | -5.01% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between SPAXX and TFLO is -0.02. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
SPAXX vs. TFLO - Performance Comparison
In the year-to-date period, SPAXX achieves a 0.86% return, which is significantly lower than TFLO's 4.59% return. Over the past 10 years, SPAXX has underperformed TFLO with an annualized return of 0.78%, while TFLO has yielded a comparatively higher 1.84% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
SPAXX vs. TFLO - Expense Ratio Comparison
Risk-Adjusted Performance
SPAXX vs. TFLO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Government Money Market Fund (SPAXX) 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.
Dividends
SPAXX vs. TFLO - Dividend Comparison
SPAXX's dividend yield for the trailing twelve months is around 4.93%, less than TFLO's 5.35% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
SPAXX Fidelity Government Money Market Fund | 4.93% | 4.68% | 1.30% | 0.01% | 0.26% | 0.98% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TFLO iShares Treasury Floating Rate Bond ETF | 5.35% | 4.89% | 1.67% | 0.00% | 0.36% | 2.08% | 1.65% | 0.86% | 0.30% | 0.15% | 0.08% |
Drawdowns
SPAXX vs. TFLO - Drawdown Comparison
The maximum SPAXX drawdown since its inception was 0.00%, smaller than the maximum TFLO drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for SPAXX and TFLO. For additional features, visit the drawdowns tool.
Volatility
SPAXX vs. TFLO - Volatility Comparison
The current volatility for Fidelity Government Money Market Fund (SPAXX) is 0.00%, while iShares Treasury Floating Rate Bond ETF (TFLO) has a volatility of 0.07%. This indicates that SPAXX experiences smaller price fluctuations and is considered to be less risky than TFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.