TFRN.L vs. IBTA.L
TFRN.L (WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc) and IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) are both Government Bonds funds - TFRN.L tracks the Bloomberg US Treasury Floating Rate Bond Index while IBTA.L tracks the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, TFRN.L returned 3.64%/yr vs 1.89%/yr for IBTA.L. At a 0.00 correlation, their price movements are largely independent. TFRN.L charges 0.15%/yr vs 0.07%/yr for IBTA.L.
Performance
TFRN.L vs. IBTA.L - Performance Comparison
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Returns By Period
In the year-to-date period, TFRN.L achieves a 1.80% return, which is significantly higher than IBTA.L's 0.34% return.
TFRN.L
- 1D
- 0.05%
- 1M
- 0.43%
- YTD
- 1.80%
- 6M
- 1.94%
- 1Y
- 3.85%
- 3Y*
- 4.68%
- 5Y*
- 3.64%
- 10Y*
- —
IBTA.L
- 1D
- 0.17%
- 1M
- 0.17%
- YTD
- 0.34%
- 6M
- 0.68%
- 1Y
- 3.12%
- 3Y*
- 4.27%
- 5Y*
- 1.89%
- 10Y*
- —
TFRN.L vs. IBTA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TFRN.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc | 1.80% | 4.10% | 5.44% | 4.94% | 2.04% | -0.15% | 0.57% | 1.59% |
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.34% | 5.34% | 4.07% | 4.21% | -3.75% | -0.64% | 3.14% | 2.97% |
Correlation
The correlation between TFRN.L and IBTA.L is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2019 | 0.00 |
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Return for Risk
TFRN.L vs. IBTA.L — Risk / Return Rank
TFRN.L
IBTA.L
TFRN.L vs. IBTA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc (TFRN.L) and iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L). 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.
| TFRN.L | IBTA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.55 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.92 | 4.63 | -0.71 |
| Martin ratioReturn relative to average drawdown | 34.08 | 15.82 | +18.26 |
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Drawdowns
TFRN.L vs. IBTA.L - Drawdown Comparison
The maximum TFRN.L drawdown since its inception was -3.10%, smaller than the maximum IBTA.L drawdown of -5.80%. Use the drawdown chart below to compare losses from any high point for TFRN.L and IBTA.L.
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Drawdown Indicators
| TFRN.L | IBTA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.10% | -5.80% | +2.70% |
Max Drawdown (1Y)Largest decline over 1 year | -0.98% | -0.67% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -0.98% | -0.89% | -0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -0.98% | -5.70% | +4.72% |
Current DrawdownCurrent decline from peak | 0.00% | -0.17% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -0.96% | +0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 0.20% | -0.09% |
Volatility
TFRN.L vs. IBTA.L - Volatility Comparison
The current volatility for WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc (TFRN.L) is 0.17%, while iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) has a volatility of 0.52%. This indicates that TFRN.L experiences smaller price fluctuations and is considered to be less risky than IBTA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TFRN.L | IBTA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.17% | 0.52% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 0.92% | 1.13% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.92% | 1.58% | +0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.51% | 2.17% | -0.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.88% | 1.93% | -0.05% |
TFRN.L vs. IBTA.L - Expense Ratio Comparison
TFRN.L has a 0.15% expense ratio, which is higher than IBTA.L's 0.07% 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
TFRN.L vs. IBTA.L - Dividend Comparison
Neither TFRN.L nor IBTA.L has paid dividends to shareholders.
Frequently Asked Questions
TFRN.L and IBTA.L have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTA.L is cheaper with a 0.07% expense ratio, compared with 0.15% for TFRN.L.
TFRN.L tracks Bloomberg US Treasury Floating Rate Bond Index, while IBTA.L tracks ICE US Treasury 1-3 Year Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.15% for TFRN.L and 0.07% for IBTA.L.
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