ULST vs. FLTR
ULST (State Street Ultra Short Term Bond ETF) and FLTR (VanEck IG Floating Rate ETF) are both exchange-traded funds - ULST is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bellwether 3 Month Index, while FLTR is a Corporate Bonds fund tracking the MVIS US Investment Grade Floating Rate Index. Both are passively managed. Over the past 10 years, ULST returned 2.69%/yr vs 3.49%/yr for FLTR. At a 0.08 correlation, their price movements are largely independent. ULST charges 0.20%/yr vs 0.14%/yr for FLTR.
Performance
ULST vs. FLTR - Performance Comparison
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Returns By Period
In the year-to-date period, ULST achieves a 1.40% return, which is significantly lower than FLTR's 2.19% return. Over the past 10 years, ULST has underperformed FLTR with an annualized return of 2.69%, while FLTR has yielded a comparatively higher 3.49% annualized return.
ULST
- 1D
- 0.03%
- 1M
- 0.27%
- YTD
- 1.40%
- 6M
- 1.47%
- 1Y
- 3.81%
- 3Y*
- 4.90%
- 5Y*
- 3.54%
- 10Y*
- 2.69%
FLTR
- 1D
- 0.00%
- 1M
- 0.38%
- YTD
- 2.19%
- 6M
- 2.32%
- 1Y
- 5.21%
- 3Y*
- 6.16%
- 5Y*
- 4.54%
- 10Y*
- 3.49%
ULST vs. FLTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ULST State Street Ultra Short Term Bond ETF | 1.40% | 4.80% | 5.23% | 5.60% | 0.87% | 0.25% | 1.45% | 3.23% | 2.04% | 1.19% |
FLTR VanEck IG Floating Rate ETF | 2.19% | 5.22% | 7.38% | 7.41% | 0.74% | 0.55% | 1.44% | 5.70% | 0.30% | 2.80% |
Correlation
The correlation between ULST and FLTR is -0.09, 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 | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2013 | 0.08 |
The correlation between ULST and FLTR shifts across timeframes, from -0.09 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ULST vs. FLTR — Risk / Return Rank
ULST
FLTR
ULST vs. FLTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Ultra Short Term Bond ETF (ULST) and VanEck IG Floating Rate ETF (FLTR). 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.
| ULST | FLTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 2.64 | 3.02 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 16.19 | 16.69 | -0.50 |
| Martin ratioReturn relative to average drawdown | 83.47 | 97.91 | -14.44 |
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Drawdowns
ULST vs. FLTR - Drawdown Comparison
The maximum ULST drawdown since its inception was -6.20%, smaller than the maximum FLTR drawdown of -17.84%. Use the drawdown chart below to compare losses from any high point for ULST and FLTR.
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Drawdown Indicators
| ULST | FLTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.20% | -17.84% | +11.64% |
Max Drawdown (1Y)Largest decline over 1 year | -0.24% | -0.31% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -0.54% | -1.93% | +1.39% |
Max Drawdown (5Y)Largest decline over 5 years | -1.22% | -3.06% | +1.84% |
Max Drawdown (10Y)Largest decline over 10 years | -6.20% | -17.84% | +11.64% |
Current DrawdownCurrent decline from peak | 0.00% | -0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -0.67% | +0.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.05% | 0.00% |
Volatility
ULST vs. FLTR - Volatility Comparison
The current volatility for State Street Ultra Short Term Bond ETF (ULST) is 0.19%, while VanEck IG Floating Rate ETF (FLTR) has a volatility of 0.29%. This indicates that ULST experiences smaller price fluctuations and is considered to be less risky than FLTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ULST | FLTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 0.29% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 0.45% | 0.66% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.66% | 0.81% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.97% | 2.13% | -1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.44% | 5.00% | -3.56% |
ULST vs. FLTR - Expense Ratio Comparison
ULST has a 0.20% expense ratio, which is higher than FLTR's 0.14% 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
ULST vs. FLTR - Dividend Comparison
ULST's dividend yield for the trailing twelve months is around 4.28%, less than FLTR's 4.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLTR VanEck IG Floating Rate ETF | 4.72% | 4.97% | 5.93% | 6.07% | 2.29% | 0.63% | 1.49% | 3.05% | 2.67% | 1.69% | 1.16% | 0.71% |
ULST State Street Ultra Short Term Bond ETF | 4.28% | 4.46% | 5.03% | 4.45% | 1.70% | 0.54% | 1.34% | 2.56% | 2.13% | 1.21% | 0.93% | 0.37% |
Frequently Asked Questions
ULST and FLTR have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLTR has higher volatility (0.29%) compared to ULST (0.19%). In terms of maximum drawdown, ULST dropped -6.20% vs FLTR's -17.84%.
On 10-year performance, FLTR leads with 3.49% vs 2.69% for ULST. On fees, FLTR is cheaper at 0.14% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FLTR has performed better with a 3.49% return vs 2.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLTR is cheaper with a 0.14% expense ratio, compared with 0.20% for ULST.
FLTR has the higher dividend yield at 4.72%, compared with 4.28% for ULST.
ULST is categorized as Ultrashort Bond, while FLTR is Corporate Bonds. ULST tracks Bloomberg US Treasury Bellwether 3 Month Index, while FLTR tracks MVIS US Investment Grade Floating Rate Index. They also come from different issuers: State Street and VanEck. Their fees differ too: 0.20% for ULST and 0.14% for FLTR.
FLTR currently has the higher Sharpe Ratio (6.50 vs 5.82), 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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