TBUX vs. TFLO
TBUX (T. Rowe Price Ultra Short-Term Bond ETF) and TFLO (iShares Treasury Floating Rate Bond ETF) are both exchange-traded funds - TBUX is a Ultrashort Bond fund actively managed by T. Rowe Price, while TFLO is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Index. TBUX is actively managed, while TFLO is passively managed. Over the past 3 years, TBUX returned 5.85%/yr vs 4.74%/yr for TFLO. At a 0.12 correlation, their price movements are largely independent. TBUX charges 0.17%/yr vs 0.15%/yr for TFLO.
Performance
TBUX vs. TFLO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with TBUX having a 1.65% return and TFLO slightly lower at 1.59%.
TBUX
- 1D
- -0.04%
- 1M
- 0.41%
- YTD
- 1.65%
- 6M
- 2.09%
- 1Y
- 4.77%
- 3Y*
- 5.85%
- 5Y*
- —
- 10Y*
- —
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%
TBUX vs. TFLO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TBUX T. Rowe Price Ultra Short-Term Bond ETF | 1.65% | 5.37% | 6.38% | 6.39% | -0.13% | -0.22% |
TFLO iShares Treasury Floating Rate Bond ETF | 1.59% | 4.22% | 5.34% | 5.12% | 1.99% | -0.02% |
Correlation
The correlation between TBUX 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 | 0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.12 |
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Return for Risk
TBUX vs. TFLO — Risk / Return Rank
TBUX
TFLO
TBUX vs. TFLO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Ultra Short-Term Bond ETF (TBUX) 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.
| TBUX | TFLO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.96 | ||
| Sortino ratioReturn per unit of downside risk | -36.51 | ||
| Omega ratioGain probability vs. loss probability | 3.08 | 13.94 | -10.86 |
| Calmar ratioReturn relative to maximum drawdown | 39.71 | 201.22 | -161.51 |
| Martin ratioReturn relative to average drawdown | 170.19 | 823.26 | -653.07 |
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
| TBUX | TFLO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.13 | 14.09 | -6.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 10.30 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 5.21 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.89 | 0.99 | +2.90 |
Drawdowns
TBUX vs. TFLO - Drawdown Comparison
The maximum TBUX drawdown since its inception was -1.79%, smaller than the maximum TFLO drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for TBUX and TFLO.
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Drawdown Indicators
| TBUX | TFLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.79% | -5.01% | +3.22% |
Max Drawdown (1Y)Largest decline over 1 year | -0.12% | -0.02% | -0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -0.33% | -0.04% | -0.29% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.13% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.16% | — |
Current DrawdownCurrent decline from peak | -0.04% | 0.00% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -0.28% | -0.10% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.00% | +0.03% |
Volatility
TBUX vs. TFLO - Volatility Comparison
T. Rowe Price Ultra Short-Term Bond ETF (TBUX) has a higher volatility of 0.19% compared to iShares Treasury Floating Rate Bond ETF (TFLO) at 0.07%. This indicates that TBUX'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
| TBUX | TFLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 0.07% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 0.43% | 0.20% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.67% | 0.28% | +0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.07% | 0.35% | +0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.07% | 0.46% | +0.61% |
TBUX vs. TFLO - Expense Ratio Comparison
TBUX has a 0.17% 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
TBUX vs. TFLO - Dividend Comparison
TBUX's dividend yield for the trailing twelve months is around 4.48%, more than TFLO's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TBUX T. Rowe Price Ultra Short-Term Bond ETF | 4.48% | 4.67% | 5.39% | 4.66% | 2.58% | 0.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
TBUX 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.
TBUX has higher volatility (0.19%) compared to TFLO (0.07%). In terms of maximum drawdown, TBUX dropped -1.79% vs TFLO's -5.01%.
On 3-year performance, TBUX leads with 5.85% vs 4.74% for TFLO. On fees, TFLO is cheaper at 0.15% 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 3-year period, TBUX has performed better with a 5.85% return vs 4.74%. 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 0.17% for TBUX.
TBUX has the higher dividend yield at 4.48%, compared with 3.90% for TFLO.
TBUX is categorized as Ultrashort Bond, while TFLO is Government Bonds. They also come from different issuers: T. Rowe Price and iShares. Their fees differ too: 0.17% for TBUX and 0.15% for TFLO.
TFLO currently has the higher Sharpe Ratio (14.09 vs 7.13), 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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