TLTP vs. USFR

Last updated Jun 4, 2026

TLTP (Amplify Bloomberg U.S. Treasury Target High Income ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both Government Bonds funds - TLTP tracks the Bloomberg U.S. Treasury 20+ Year 12% Premium Covered Call 2.0 Index while USFR tracks the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past year, TLTP returned 6.77% vs 4.01% for USFR. At a correlation of -0.12, they often move in opposite directions. TLTP charges 0.38%/yr vs 0.15%/yr for USFR.

Performance

TLTP vs. USFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Bloomberg U.S. Treasury Target High Income ETF (TLTP) and WisdomTree Floating Rate Treasury Fund (USFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TLTP achieves a 0.22% return, which is significantly lower than USFR's 1.60% return.

TLTP

• 1D: -0.27%
• 1M: 0.71%
• YTD: 0.22%
• 6M: -0.63%
• 1Y: 6.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USFR

• 1D: 0.00%
• 1M: 0.27%
• YTD: 1.60%
• 6M: 1.96%
• 1Y: 4.01%
• 3Y*: 4.76%
• 5Y*: 3.66%
• 10Y*: 2.47%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TLTP vs. USFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TLTP Amplify Bloomberg U.S. Treasury Target High Income ETF	0.22%	5.39%	-3.95%
USFR WisdomTree Floating Rate Treasury Fund	1.60%	4.23%	0.94%

Correlation

The correlation between TLTP and USFR is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.17
Correlation (All Time) Calculated using the full available price history since Oct 30, 2024	-0.12

Return for Risk

TLTP vs. USFR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TLTP

TLTP Risk / Return Rank: 24
TLTP Sharpe Ratio Rank: 25
TLTP Sortino Ratio Rank: 24
TLTP Omega Ratio Rank: 23
TLTP Calmar Ratio Rank: 25
TLTP Martin Ratio Rank: 24

USFR

USFR Risk / Return Rank: 100
USFR Sharpe Ratio Rank: 100
USFR Sortino Ratio Rank: 100
USFR Omega Ratio Rank: 100
USFR Calmar Ratio Rank: 100
USFR Martin Ratio Rank: 100

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.

TLTP vs. USFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Bloomberg U.S. Treasury Target High Income ETF (TLTP) and WisdomTree Floating Rate Treasury Fund (USFR). 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.

	TLTP	USFR	Difference
Sharpe ratio: Return per unit of total volatility	0.89	15.01	-14.12
Sortino ratio: Return per unit of downside risk	1.30	50.39	-49.09
Omega ratio: Gain probability vs. loss probability	1.16	13.37	-12.21
Calmar ratio: Return relative to maximum drawdown	1.18	202.38	-201.20
Martin ratio: Return relative to average drawdown	3.19	783.80	-780.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TLTP vs. USFR - Sharpe Ratio Comparison

The current TLTP Sharpe Ratio is 0.89, which is lower than the USFR Sharpe Ratio of 15.01. The chart below compares the historical Sharpe Ratios of TLTP and USFR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TLTP	USFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	15.01	-14.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	9.25	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	3.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	1.60	-1.51

Drawdowns

TLTP vs. USFR - Drawdown Comparison

The maximum TLTP drawdown since its inception was -8.54%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for TLTP and USFR.

Drawdown Indicators

	TLTP	USFR	Difference
Max Drawdown Largest peak-to-trough decline	-8.54%	-1.36%	-7.18%
Max Drawdown (1Y) Largest decline over 1 year	-5.76%	-0.02%	-5.74%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.80%	—
Current Drawdown Current decline from peak	-3.18%	0.00%	-3.18%
Average Drawdown Average peak-to-trough decline	-3.26%	-0.16%	-3.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	0.01%	+2.11%

Volatility

TLTP vs. USFR - Volatility Comparison

Amplify Bloomberg U.S. Treasury Target High Income ETF (TLTP) has a higher volatility of 2.40% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. This indicates that TLTP's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TLTP	USFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.40%	0.06%	+2.34%
Volatility (6M) Calculated over the trailing 6-month period	5.10%	0.18%	+4.92%
Volatility (1Y) Calculated over the trailing 1-year period	7.62%	0.27%	+7.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.84%	0.40%	+9.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.84%	0.81%	+9.03%

TLTP vs. USFR - Expense Ratio Comparison

TLTP has a 0.38% expense ratio, which is higher than USFR's 0.15% expense ratio.

Dividends

TLTP vs. USFR - Dividend Comparison

TLTP's dividend yield for the trailing twelve months is around 13.16%, more than USFR's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
TLTP Amplify Bloomberg U.S. Treasury Target High Income ETF	13.16%	12.53%	2.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USFR WisdomTree Floating Rate Treasury Fund	3.91%	4.15%	5.17%	5.12%	1.78%	0.01%	0.40%	2.08%	1.67%	1.03%	0.29%

Frequently Asked Questions

Can I hold both TLTP and USFR in my portfolio?

TLTP and USFR have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TLTP or USFR?

TLTP has higher volatility (2.40%) compared to USFR (0.06%). In terms of maximum drawdown, TLTP dropped -8.54% vs USFR's -1.36%.

Which ETF is better, TLTP or USFR?

On 1-year performance, TLTP leads with 6.77% vs 4.01% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TLTP or USFR?

Over the 1-year period, TLTP has performed better with a 6.77% return vs 4.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TLTP or USFR?

USFR is cheaper with a 0.15% expense ratio, compared with 0.38% for TLTP.

Which ETF pays a higher dividend yield, TLTP or USFR?

TLTP has the higher dividend yield at 13.16%, compared with 3.91% for USFR.

What is the main difference between TLTP and USFR?

TLTP tracks Bloomberg U.S. Treasury 20+ Year 12% Premium Covered Call 2.0 Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: Amplify and WisdomTree. Their fees differ too: 0.38% for TLTP and 0.15% for USFR.

Which has better risk-adjusted returns?

USFR currently has the higher Sharpe Ratio (15.01 vs 0.89), 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.