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TFLO vs. QYLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TFLO vs. QYLD

Last updated Jun 9, 2026

TFLO (iShares Treasury Floating Rate Bond ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - TFLO is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Index, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. Over the past 10 years, TFLO returned 2.37%/yr vs 9.77%/yr for QYLD. At a correlation of -0.02, they often move in opposite directions. TFLO charges 0.15%/yr vs 0.60%/yr for QYLD.

Performance

TFLO vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Treasury Floating Rate Bond ETF (TFLO) and Global X NASDAQ 100 Covered Call ETF (QYLD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TFLO achieves a 1.65% return, which is significantly lower than QYLD's 7.05% return. Over the past 10 years, TFLO has underperformed QYLD with an annualized return of 2.37%, while QYLD has yielded a comparatively higher 9.77% annualized return.

TFLO

1D
0.04%
1M
0.29%
YTD
1.65%
6M
1.92%
1Y
4.01%
3Y*
4.72%
5Y*
3.65%
10Y*
2.37%

QYLD

1D
1.07%
1M
0.23%
YTD
7.05%
6M
8.87%
1Y
22.45%
3Y*
13.42%
5Y*
8.24%
10Y*
9.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TFLO vs. QYLD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TFLO
iShares Treasury Floating Rate Bond ETF		1.65%4.22%5.34%5.12%1.99%-0.02%0.43%2.04%1.76%1.01%
QYLD
Global X NASDAQ 100 Covered Call ETF		7.05%9.28%19.35%22.77%-19.08%10.41%8.72%22.69%-3.07%18.79%

Correlation

The correlation between TFLO and QYLD is 0.04, 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

0.04

Correlation (3Y)
Calculated over the trailing 3-year period

-0.01

Correlation (5Y)
Calculated over the trailing 5-year period

-0.05

Correlation (10Y)
Calculated over the trailing 10-year period

-0.02

Correlation (All Time)
Calculated using the full available price history since Feb 4, 2014

-0.02

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Treasury Floating Rate Bond ETF

Global X NASDAQ 100 Covered Call ETF

Often compared with TFLO:
TFLO vs. SGOVTFLO vs. USFRTFLO vs. BILTFLO vs. SPAXXTFLO vs. SHVTFLO vs. VUSXXTFLO vs. JAAA
Often compared with QYLD:
QYLD vs. JEPQQYLD vs. JEPIQYLD vs. QQQQYLD vs. XYLDQYLD vs. RYLDQYLD vs. SCHDQYLD vs. QYLG

Return for Risk

TFLO vs. QYLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TFLO
TFLO Risk / Return Rank: 100100
Overall Rank
TFLO Sharpe Ratio Rank: 100100
Sharpe Ratio Rank
TFLO Sortino Ratio Rank: 100100
Sortino Ratio Rank
TFLO Omega Ratio Rank: 100100
Omega Ratio Rank
TFLO Calmar Ratio Rank: 100100
Calmar Ratio Rank
TFLO Martin Ratio Rank: 100100
Martin Ratio Rank
QYLD
QYLD Risk / Return Rank: 8989
Overall Rank
QYLD Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
QYLD Sortino Ratio Rank: 8686
Sortino Ratio Rank
QYLD Omega Ratio Rank: 9292
Omega Ratio Rank
QYLD Calmar Ratio Rank: 8787
Calmar Ratio Rank
QYLD Martin Ratio Rank: 9595
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TFLO vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Treasury Floating Rate Bond ETF (TFLO) and Global X NASDAQ 100 Covered Call ETF (QYLD). 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.

TFLOQYLDDifference
Sharpe ratioReturn per unit of total volatility
14.21
2.56

+11.65

Sortino ratioReturn per unit of downside risk
51.38
3.53

+47.85

Omega ratioGain probability vs. loss probability

14.07

1.57

+12.50

Calmar ratioReturn relative to maximum drawdown

203.31

4.54

+198.77

Martin ratioReturn relative to average drawdown

831.80

26.31

+805.49

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TFLO vs. QYLD - Sharpe Ratio Comparison

The current TFLO Sharpe Ratio is 14.21, which is higher than the QYLD Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of TFLO and QYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

TFLOQYLDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

14.21

2.56

+11.65

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

10.35

0.56

+9.78

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

5.23

0.63

+4.59

Sharpe Ratio (All Time)

Calculated using the full available price history

0.99

0.59

+0.40

Drawdowns

TFLO vs. QYLD - Drawdown Comparison

The maximum TFLO drawdown since its inception was -5.01%, smaller than the maximum QYLD drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for TFLO and QYLD.

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Drawdown Indicators

TFLOQYLDDifference

Max Drawdown

Largest peak-to-trough decline

-5.01%

-24.75%

+19.74%

Max Drawdown (1Y)

Largest decline over 1 year

-0.02%

-4.97%

+4.95%

Max Drawdown (3Y)

Largest decline over 3 years

-0.04%

-19.06%

+19.02%

Max Drawdown (5Y)

Largest decline over 5 years

-0.13%

-24.61%

+24.48%

Max Drawdown (10Y)

Largest decline over 10 years

-0.16%

-24.75%

+24.59%

Current Drawdown

Current decline from peak

0.00%

-0.83%

+0.83%

Average Drawdown

Average peak-to-trough decline

-0.10%

-3.83%

+3.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

0.86%

-0.86%

Volatility

TFLO vs. QYLD - Volatility Comparison

The current volatility for iShares Treasury Floating Rate Bond ETF (TFLO) is 0.07%, while Global X NASDAQ 100 Covered Call ETF (QYLD) has a volatility of 2.86%. This indicates that TFLO experiences smaller price fluctuations and is considered to be less risky than QYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TFLOQYLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.07%

2.86%

-2.79%

Volatility (6M)

Calculated over the trailing 6-month period

0.20%

7.44%

-7.24%

Volatility (1Y)

Calculated over the trailing 1-year period

0.28%

8.84%

-8.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.35%

14.73%

-14.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.46%

15.51%

-15.05%

TFLO vs. QYLD - Expense Ratio Comparison

TFLO has a 0.15% expense ratio, which is lower than QYLD's 0.60% expense ratio.

Dividends

TFLO vs. QYLD - Dividend Comparison

TFLO's dividend yield for the trailing twelve months is around 3.90%, less than QYLD's 11.55% yield.

PositionTTM20252024202320222021202020192018201720162015
QYLD
Global X NASDAQ 100 Covered Call ETF		11.55%11.55%12.50%11.78%13.75%12.85%11.16%9.84%12.44%7.69%9.15%9.42%
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

TFLO and QYLD have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QYLD has higher volatility (2.86%) compared to TFLO (0.07%). In terms of maximum drawdown, TFLO dropped -5.01% vs QYLD's -24.75%.

On 10-year performance, QYLD leads with 9.77% vs 2.37% 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 10-year period, QYLD has performed better with a 9.77% return vs 2.37%. 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 0.60% for QYLD.

QYLD has the higher dividend yield at 11.55%, compared with 3.90% for TFLO.

TFLO is categorized as Government Bonds, while QYLD is Nasdaq-100. TFLO tracks Bloomberg U.S. Treasury Floating Rate Index, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. They also come from different issuers: iShares and Global X. Their fees differ too: 0.15% for TFLO and 0.60% for QYLD.

TFLO currently has the higher Sharpe Ratio (14.21 vs 2.56), 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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