TFLO vs. FAPGX
TFLO (iShares Treasury Floating Rate Bond ETF) and FAPGX (Fidelity Sustainable Low Duration Bond) are both funds - TFLO is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Index, while FAPGX is a Ultrashort Bond fund managed by Fidelity. Over the past 3 years, TFLO returned 4.63%/yr vs 4.77%/yr for FAPGX. Their 0.00 correlation means their historical movements had little consistent relationship. TFLO charges 0.15%/yr vs 0.25%/yr for FAPGX.
Performance
TFLO vs. FAPGX - Performance Comparison
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Returns By Period
In the year-to-date period, TFLO achieves a 2.24% return, which is significantly higher than FAPGX's 1.75% return.
TFLO
- 1D
- 0.02%
- 1M
- 0.30%
- 6M
- 1.90%
- YTD
- 2.24%
- 1Y
- 3.90%
- 3Y*
- 4.63%
- 5Y*
- 3.77%
- 10Y*
- 2.42%
- ALL TIME*
- 1.96%
FAPGX
- 1D
- 0.00%
- 1M
- 0.10%
- 6M
- 1.38%
- YTD
- 1.75%
- 1Y
- 3.59%
- 3Y*
- 4.77%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $86.01M | $74.39M | $76.29M |
TFLO vs. FAPGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TFLO iShares Treasury Floating Rate Bond ETF | 2.24% | 4.22% | 5.34% | 5.12% | 1.72% |
FAPGX Fidelity Sustainable Low Duration Bond | 1.75% | 4.57% | 5.32% | 5.28% | 0.57% |
Correlation
The correlation between TFLO and FAPGX is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.14 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2022 | 0.00 |
The correlation between TFLO and FAPGX shifts across timeframes, from -0.14 (1 year) to 0.01 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TFLO vs. FAPGX — Risk / Return Rank
TFLO
FAPGX
TFLO vs. FAPGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Treasury Floating Rate Bond ETF (TFLO) and Fidelity Sustainable Low Duration Bond (FAPGX). 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.
| TFLO | FAPGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +10.42 | ||
| Sortino ratioReturn per unit of downside risk | +38.89 | ||
| Omega ratioGain probability vs. loss probability | 12.25 | 2.73 | +9.51 |
| Calmar ratioReturn relative to maximum drawdown | 197.78 | 12.63 | +185.16 |
| Martin ratioReturn relative to average drawdown | 760.24 | 53.22 | +707.02 |
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Drawdowns
TFLO vs. FAPGX - Drawdown Comparison
The maximum TFLO drawdown since its inception was -5.01%, which is greater than FAPGX's maximum drawdown of -0.49%. Use the drawdown chart below to compare losses from any high point for TFLO and FAPGX.
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Drawdown Indicators
| TFLO | FAPGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.01% | -0.49% | -4.52% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -0.29% | +0.27% |
Max Drawdown (3Y)Largest decline over 3 years | -0.04% | -0.39% | +0.35% |
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 | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -0.06% | -0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.07% | -0.06% |
Volatility
TFLO vs. FAPGX - Volatility Comparison
The current volatility for iShares Treasury Floating Rate Bond ETF (TFLO) is 0.07%, while Fidelity Sustainable Low Duration Bond (FAPGX) has a volatility of 0.22%. This indicates that TFLO experiences smaller price fluctuations and is considered to be less risky than FAPGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TFLO | FAPGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 0.22% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 0.82% | -0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.29% | 1.14% | -0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.35% | 1.07% | -0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.45% | 1.07% | -0.62% |
TFLO vs. FAPGX - Expense Ratio Comparison
TFLO has a 0.15% expense ratio, which is lower than FAPGX's 0.25% 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
TFLO vs. FAPGX - Dividend Comparison
TFLO's dividend yield for the trailing twelve months is around 3.79%, less than FAPGX's 4.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAPGX Fidelity Sustainable Low Duration Bond | 4.42% | 4.40% | 4.81% | 3.44% | 0.77% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TFLO iShares Treasury Floating Rate Bond ETF | 3.79% | 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
TFLO and FAPGX have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAPGX has higher volatility (0.22%) compared to TFLO (0.07%). In terms of maximum drawdown, TFLO dropped -5.01% vs FAPGX's -0.49%.
TFLO currently has the higher Sharpe Ratio (13.72 vs 3.30), 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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