TFLO vs. FLRN
Compare and contrast key facts about iShares Treasury Floating Rate Bond ETF (TFLO) and SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN).
TFLO and FLRN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. FLRN is a passively managed fund by State Street that tracks the performance of the Bloomberg US Floating Rate Notes (<5 Y). It was launched on Nov 30, 2011. Both TFLO and FLRN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TFLO or FLRN.
Key characteristics
| TFLO | FLRN | |
|---|---|---|
| YTD Return | 3.70% | 4.46% |
| 1Y Return | 5.35% | 6.46% |
| 3Y Return (Ann) | 3.60% | 4.08% |
| 5Y Return (Ann) | 2.36% | 2.87% |
| 10Y Return (Ann) | 1.77% | 2.23% |
| Sharpe Ratio | 15.29 | 7.64 |
| Daily Std Dev | 0.35% | 0.85% |
| Max Drawdown | -5.01% | -14.64% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between TFLO and FLRN is 0.05, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
TFLO vs. FLRN - Performance Comparison
In the year-to-date period, TFLO achieves a 3.70% return, which is significantly lower than FLRN's 4.46% return. Over the past 10 years, TFLO has underperformed FLRN with an annualized return of 1.77%, while FLRN has yielded a comparatively higher 2.23% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TFLO vs. FLRN - Expense Ratio Comparison
Both TFLO and FLRN have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Risk-Adjusted Performance
TFLO vs. FLRN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Treasury Floating Rate Bond ETF (TFLO) and SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN). 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
TFLO vs. FLRN - Dividend Comparison
TFLO's dividend yield for the trailing twelve months is around 5.43%, less than FLRN's 5.92% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TFLO iShares Treasury Floating Rate Bond ETF | 5.43% | 4.88% | 1.68% | 0.00% | 0.36% | 2.08% | 1.65% | 0.86% | 0.31% | 0.15% | 0.08% | 0.00% |
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 5.92% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% | 0.53% | 0.72% |
Drawdowns
TFLO vs. FLRN - Drawdown Comparison
The maximum TFLO drawdown since its inception was -5.01%, smaller than the maximum FLRN drawdown of -14.64%. Use the drawdown chart below to compare losses from any high point for TFLO and FLRN. For additional features, visit the drawdowns tool.
Volatility
TFLO vs. FLRN - Volatility Comparison
The current volatility for iShares Treasury Floating Rate Bond ETF (TFLO) is 0.10%, while SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) has a volatility of 0.18%. This indicates that TFLO experiences smaller price fluctuations and is considered to be less risky than FLRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.