TFLO vs. VGLT
TFLO (iShares Treasury Floating Rate Bond ETF) and VGLT (Vanguard Long-Term Treasury ETF) are both Government Bonds funds - TFLO tracks the Bloomberg U.S. Treasury Floating Rate Index while VGLT tracks the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 10 years, TFLO returned 2.42%/yr vs -1.72%/yr for VGLT. Their -0.01 correlation means they have often moved in opposite directions in the past. TFLO charges 0.15%/yr vs 0.03%/yr for VGLT.
Performance
TFLO vs. VGLT - 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 VGLT's -2.90% return. Over the past 10 years, TFLO has outperformed VGLT with an annualized return of 2.42%, while VGLT has yielded a comparatively lower -1.72% annualized 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%
VGLT
- 1D
- 0.37%
- 1M
- -3.15%
- 6M
- -2.54%
- YTD
- -2.90%
- 1Y
- -1.31%
- 3Y*
- -0.04%
- 5Y*
- -7.20%
- 10Y*
- -1.72%
- ALL TIME*
- 2.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $86.01M | $74.39M | $76.29M | |
| $99.02M | $99.81M | $109.19M |
TFLO vs. VGLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TFLO iShares Treasury Floating Rate Bond ETF | 2.24% | 4.22% | 5.34% | 5.12% | 1.99% | -0.02% | 0.43% | 2.04% | 1.76% | 1.01% |
VGLT Vanguard Long-Term Treasury ETF | -2.90% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | 17.57% | 14.30% | -1.54% | 8.64% |
Correlation
The correlation between TFLO and VGLT is -0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.08 |
Correlation (3Y) Balances recent behavior with more history. | -0.04 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.01 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | -0.01 |
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Return for Risk
TFLO vs. VGLT — Risk / Return Rank
TFLO
VGLT
TFLO vs. VGLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Treasury Floating Rate Bond ETF (TFLO) and Vanguard Long-Term Treasury ETF (VGLT). 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 | VGLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +13.88 | ||
| Sortino ratioReturn per unit of downside risk | +47.15 | ||
| Omega ratioGain probability vs. loss probability | 12.25 | 0.98 | +11.27 |
| Calmar ratioReturn relative to maximum drawdown | 197.78 | -0.19 | +197.97 |
| Martin ratioReturn relative to average drawdown | 760.24 | -0.41 | +760.65 |
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Drawdowns
TFLO vs. VGLT - Drawdown Comparison
The maximum TFLO drawdown since its inception was -5.01%, smaller than the maximum VGLT drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for TFLO and VGLT.
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Drawdown Indicators
| TFLO | VGLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.01% | -46.18% | +41.17% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -7.03% | +7.01% |
Max Drawdown (3Y)Largest decline over 3 years | -0.04% | -13.38% | +13.34% |
Max Drawdown (5Y)Largest decline over 5 years | -0.13% | -40.98% | +40.85% |
Max Drawdown (10Y)Largest decline over 10 years | -0.16% | -46.18% | +46.02% |
Current DrawdownCurrent decline from peak | 0.00% | -38.41% | +38.41% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -15.27% | +15.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 3.22% | -3.21% |
Volatility
TFLO vs. VGLT - Volatility Comparison
The current volatility for iShares Treasury Floating Rate Bond ETF (TFLO) is 0.07%, while Vanguard Long-Term Treasury ETF (VGLT) has a volatility of 2.30%. This indicates that TFLO experiences smaller price fluctuations and is considered to be less risky than VGLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TFLO | VGLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 2.30% | -2.23% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 6.31% | -6.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.29% | 8.39% | -8.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.35% | 14.46% | -14.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.45% | 13.75% | -13.30% |
TFLO vs. VGLT - Expense Ratio Comparison
TFLO has a 0.15% expense ratio, which is higher than VGLT's 0.03% 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
TFLO vs. VGLT - Dividend Comparison
TFLO's dividend yield for the trailing twelve months is around 3.79%, less than VGLT's 4.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VGLT Vanguard Long-Term Treasury ETF | 4.78% | 4.44% | 4.33% | 3.33% | 2.84% | 1.82% | 2.15% | 2.46% | 2.71% | 2.55% | 2.69% | 3.21% |
Frequently Asked Questions
TFLO and VGLT have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGLT has higher volatility (2.30%) compared to TFLO (0.07%). In terms of maximum drawdown, TFLO dropped -5.01% vs VGLT's -46.18%.
On 10-year performance, TFLO leads with 2.42% vs -1.72% for VGLT. On fees, VGLT 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 2.42% return vs -1.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGLT is cheaper with a 0.03% expense ratio, compared with 0.15% for TFLO.
VGLT has the higher dividend yield at 4.78%, compared with 3.79% for TFLO.
TFLO tracks Bloomberg U.S. Treasury Floating Rate Index, while VGLT tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for TFLO and 0.03% for VGLT.
TFLO currently has the higher Sharpe Ratio (13.72 vs -0.16), 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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