TFLO vs. XLK
TFLO (iShares Treasury Floating Rate Bond ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both exchange-traded funds - TFLO is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Index, while XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Both are passively managed. Over the past 10 years, TFLO returned 2.37%/yr vs 25.04%/yr for XLK. At a correlation of -0.02, they often move in opposite directions. TFLO charges 0.15%/yr vs 0.08%/yr for XLK.
Performance
TFLO vs. XLK - Performance Comparison
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Returns By Period
In the year-to-date period, TFLO achieves a 1.65% return, which is significantly lower than XLK's 28.09% return. Over the past 10 years, TFLO has underperformed XLK with an annualized return of 2.37%, while XLK has yielded a comparatively higher 25.04% 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%
XLK
- 1D
- 2.15%
- 1M
- 4.93%
- YTD
- 28.09%
- 6M
- 25.10%
- 1Y
- 55.42%
- 3Y*
- 31.33%
- 5Y*
- 22.26%
- 10Y*
- 25.04%
TFLO vs. XLK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
XLK State Street Technology Select Sector SPDR ETF | 28.09% | 24.61% | 21.63% | 56.02% | -27.73% | 34.74% | 43.62% | 49.86% | -1.68% | 34.26% |
Correlation
The correlation between TFLO and XLK is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
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 |
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Return for Risk
TFLO vs. XLK — Risk / Return Rank
TFLO
XLK
TFLO vs. XLK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Treasury Floating Rate Bond ETF (TFLO) and State Street Technology Select Sector SPDR ETF (XLK). 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.
| TFLO | XLK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +11.68 | ||
| Sortino ratioReturn per unit of downside risk | +48.32 | ||
| Omega ratioGain probability vs. loss probability | 14.07 | 1.42 | +12.65 |
| Calmar ratioReturn relative to maximum drawdown | 203.31 | 3.50 | +199.81 |
| Martin ratioReturn relative to average drawdown | 831.80 | 11.58 | +820.22 |
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
| TFLO | XLK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 14.21 | 2.53 | +11.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 10.35 | 0.89 | +9.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 5.23 | 1.02 | +4.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 0.41 | +0.58 |
Drawdowns
TFLO vs. XLK - Drawdown Comparison
The maximum TFLO drawdown since its inception was -5.01%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for TFLO and XLK.
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Drawdown Indicators
| TFLO | XLK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.01% | -82.05% | +77.04% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -15.92% | +15.90% |
Max Drawdown (3Y)Largest decline over 3 years | -0.04% | -25.66% | +25.62% |
Max Drawdown (5Y)Largest decline over 5 years | -0.13% | -33.56% | +33.43% |
Max Drawdown (10Y)Largest decline over 10 years | -0.16% | -33.56% | +33.40% |
Current DrawdownCurrent decline from peak | 0.00% | -7.08% | +7.08% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -34.95% | +34.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 4.80% | -4.80% |
Volatility
TFLO vs. XLK - Volatility Comparison
The current volatility for iShares Treasury Floating Rate Bond ETF (TFLO) is 0.07%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 10.42%. This indicates that TFLO experiences smaller price fluctuations and is considered to be less risky than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TFLO | XLK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 10.42% | -10.35% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 18.32% | -18.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.28% | 22.08% | -21.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.35% | 25.10% | -24.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.46% | 24.60% | -24.14% |
TFLO vs. XLK - Expense Ratio Comparison
TFLO has a 0.15% expense ratio, which is higher than XLK's 0.08% 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. XLK - Dividend Comparison
TFLO's dividend yield for the trailing twelve months is around 3.90%, more than XLK's 0.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XLK State Street Technology Select Sector SPDR ETF | 0.41% | 0.54% | 0.66% | 0.76% | 1.04% | 0.65% | 0.92% | 1.16% | 1.60% | 1.37% | 1.74% | 1.79% |
Frequently Asked Questions
TFLO and XLK have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLK has higher volatility (10.42%) compared to TFLO (0.07%). In terms of maximum drawdown, TFLO dropped -5.01% vs XLK's -82.05%.
On 10-year performance, XLK leads with 25.04% vs 2.37% for TFLO. On fees, XLK is cheaper at 0.08% 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, XLK has performed better with a 25.04% return vs 2.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLK is cheaper with a 0.08% expense ratio, compared with 0.15% for TFLO.
TFLO has the higher dividend yield at 3.90%, compared with 0.41% for XLK.
TFLO is categorized as Government Bonds, while XLK is Technology Equities. TFLO tracks Bloomberg U.S. Treasury Floating Rate Index, while XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.15% for TFLO and 0.08% for XLK.
TFLO currently has the higher Sharpe Ratio (14.21 vs 2.53), 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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