SPTS vs. TFLO
SPTS (SPDR Portfolio Short Term Treasury ETF) and TFLO (iShares Treasury Floating Rate Bond ETF) are both Government Bonds funds - SPTS tracks the Bloomberg U.S. Treasury 1-3 Year Index while TFLO tracks the Bloomberg U.S. Treasury Floating Rate Index. Both are passively managed. Over the past 10 years, SPTS returned 1.67%/yr vs 2.37%/yr for TFLO. At a 0.03 correlation, their price movements are largely independent. SPTS charges 0.03%/yr vs 0.15%/yr for TFLO.
Performance
SPTS vs. TFLO - Performance Comparison
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Returns By Period
In the year-to-date period, SPTS achieves a 0.45% return, which is significantly lower than TFLO's 1.59% return. Over the past 10 years, SPTS has underperformed TFLO with an annualized return of 1.67%, while TFLO has yielded a comparatively higher 2.37% annualized return.
SPTS
- 1D
- -0.07%
- 1M
- 0.05%
- YTD
- 0.45%
- 6M
- 0.77%
- 1Y
- 3.45%
- 3Y*
- 4.18%
- 5Y*
- 1.81%
- 10Y*
- 1.67%
TFLO
- 1D
- 0.02%
- 1M
- 0.31%
- YTD
- 1.59%
- 6M
- 1.92%
- 1Y
- 3.97%
- 3Y*
- 4.74%
- 5Y*
- 3.63%
- 10Y*
- 2.37%
SPTS vs. TFLO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPTS SPDR Portfolio Short Term Treasury ETF | 0.45% | 5.05% | 4.20% | 4.27% | -3.86% | -0.72% | 3.23% | 3.56% | 1.08% | 0.59% |
TFLO iShares Treasury Floating Rate Bond ETF | 1.59% | 4.22% | 5.34% | 5.12% | 1.99% | -0.02% | 0.43% | 2.04% | 1.76% | 1.01% |
Correlation
The correlation between SPTS and TFLO 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 | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2014 | 0.03 |
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Return for Risk
SPTS vs. TFLO — Risk / Return Rank
SPTS
TFLO
SPTS vs. TFLO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Short Term Treasury ETF (SPTS) 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.
| SPTS | TFLO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -11.46 | ||
| Sortino ratioReturn per unit of downside risk | -46.40 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 13.94 | -12.39 |
| Calmar ratioReturn relative to maximum drawdown | 4.13 | 201.22 | -197.10 |
| Martin ratioReturn relative to average drawdown | 16.52 | 823.26 | -806.74 |
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
| SPTS | TFLO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.63 | 14.09 | -11.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | 10.30 | -9.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.98 | 5.21 | -4.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.99 | -0.49 |
Drawdowns
SPTS vs. TFLO - Drawdown Comparison
The maximum SPTS drawdown since its inception was -5.83%, which is greater than TFLO's maximum drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for SPTS and TFLO.
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Drawdown Indicators
| SPTS | TFLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.83% | -5.01% | -0.82% |
Max Drawdown (1Y)Largest decline over 1 year | -0.84% | -0.02% | -0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -0.96% | -0.04% | -0.92% |
Max Drawdown (5Y)Largest decline over 5 years | -5.71% | -0.13% | -5.58% |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | -0.16% | -5.55% |
Current DrawdownCurrent decline from peak | -0.28% | 0.00% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -1.72% | -0.10% | -1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.00% | +0.21% |
Volatility
SPTS vs. TFLO - Volatility Comparison
SPDR Portfolio Short Term Treasury ETF (SPTS) has a higher volatility of 0.34% compared to iShares Treasury Floating Rate Bond ETF (TFLO) at 0.07%. This indicates that SPTS'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.
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Volatility by Period
| SPTS | TFLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.34% | 0.07% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 0.20% | +0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.32% | 0.28% | +1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.98% | 0.35% | +1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.72% | 0.46% | +1.26% |
SPTS vs. TFLO - Expense Ratio Comparison
SPTS has a 0.03% expense ratio, which is lower than TFLO's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPTS vs. TFLO - Dividend Comparison
SPTS's dividend yield for the trailing twelve months is around 3.91%, which matches TFLO's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPTS SPDR Portfolio Short Term Treasury ETF | 3.91% | 3.99% | 4.25% | 3.61% | 1.27% | 0.19% | 0.70% | 2.21% | 2.04% | 1.20% | 0.95% | 0.83% |
TFLO iShares Treasury Floating Rate Bond ETF | 3.90% | 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
SPTS and TFLO 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.
SPTS has higher volatility (0.34%) compared to TFLO (0.07%). In terms of maximum drawdown, SPTS dropped -5.83% vs TFLO's -5.01%.
On 10-year performance, TFLO leads with 2.37% vs 1.67% for SPTS. On fees, SPTS is cheaper at 0.03% per year. On volatility, TFLO has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TFLO has performed better with a 2.37% return vs 1.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTS is cheaper with a 0.03% expense ratio, compared with 0.15% for TFLO.
SPTS has the higher dividend yield at 3.91%, compared with 3.90% for TFLO.
SPTS tracks Bloomberg U.S. Treasury 1-3 Year Index, while TFLO tracks Bloomberg U.S. Treasury Floating Rate Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.03% for SPTS and 0.15% for TFLO.
TFLO currently has the higher Sharpe Ratio (14.09 vs 2.63), 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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