USFR vs. CLIP

Last updated Jun 4, 2026

USFR (WisdomTree Floating Rate Treasury Fund) and CLIP (Global X 1-3 Month T-Bill ETF) are both exchange-traded funds - USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index, while CLIP is a Ultrashort Bond fund tracking the Solactive 1-3 month US T-Bill Index - USD. Both are passively managed. Over the past year, USFR returned 4.03% vs 3.96% for CLIP. At a 0.16 correlation, their price movements are largely independent. USFR charges 0.15%/yr vs 0.07%/yr for CLIP.

Performance

USFR vs. CLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Floating Rate Treasury Fund (USFR) and Global X 1-3 Month T-Bill ETF (CLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USFR achieves a 1.60% return, which is significantly higher than CLIP's 1.50% return.

USFR

• 1D: 0.02%
• 1M: 0.29%
• YTD: 1.60%
• 6M: 1.98%
• 1Y: 4.03%
• 3Y*: 4.76%
• 5Y*: 3.66%
• 10Y*: 2.47%

CLIP

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.50%
• 6M: 1.82%
• 1Y: 3.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USFR vs. CLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
USFR WisdomTree Floating Rate Treasury Fund	1.60%	4.23%	5.47%	2.71%
CLIP Global X 1-3 Month T-Bill ETF	1.50%	4.23%	5.26%	2.82%

Correlation

The correlation between USFR and CLIP is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.16

Return for Risk

USFR vs. CLIP — Risk / Return Rank

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

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

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP 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.

USFR vs. CLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Floating Rate Treasury Fund (USFR) and Global X 1-3 Month T-Bill ETF (CLIP). 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.

	USFR	CLIP	Difference
Sharpe ratio: Return per unit of total volatility	15.11	17.26	-2.14
Sortino ratio: Return per unit of downside risk	50.64	72.02	-21.38
Omega ratio: Gain probability vs. loss probability	13.43	20.66	-7.23
Calmar ratio: Return relative to maximum drawdown	203.42	142.22	+61.19
Martin ratio: Return relative to average drawdown	787.84	1,151.15	-363.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USFR vs. CLIP - Sharpe Ratio Comparison

The current USFR Sharpe Ratio is 15.11, which is comparable to the CLIP Sharpe Ratio of 17.26. The chart below compares the historical Sharpe Ratios of USFR and CLIP, 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

	USFR	CLIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	15.11	17.26	-2.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	9.26	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	3.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	10.71	-9.11

Drawdowns

USFR vs. CLIP - Drawdown Comparison

The maximum USFR drawdown since its inception was -1.36%, which is greater than CLIP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for USFR and CLIP.

Drawdown Indicators

	USFR	CLIP	Difference
Max Drawdown Largest peak-to-trough decline	-1.36%	-0.08%	-1.28%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	-0.03%	+0.01%
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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.16%	-0.00%	-0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	0.00%	+0.01%

Volatility

USFR vs. CLIP - Volatility Comparison

WisdomTree Floating Rate Treasury Fund (USFR) and Global X 1-3 Month T-Bill ETF (CLIP) have volatilities of 0.06% and 0.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USFR	CLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	0.06%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	0.18%	0.14%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	0.27%	0.23%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.40%	0.44%	-0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.81%	0.44%	+0.37%

USFR vs. CLIP - Expense Ratio Comparison

USFR has a 0.15% expense ratio, which is higher than CLIP'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

USFR vs. CLIP - Dividend Comparison

USFR's dividend yield for the trailing twelve months is around 3.91%, which matches CLIP's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CLIP Global X 1-3 Month T-Bill ETF	3.91%	4.14%	5.11%	2.75%	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 USFR and CLIP in my portfolio?

USFR and CLIP have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USFR or CLIP?

CLIP has higher volatility (0.06%) compared to USFR (0.06%). In terms of maximum drawdown, USFR dropped -1.36% vs CLIP's -0.08%.

Which ETF is better, USFR or CLIP?

On 1-year performance, USFR leads with 4.03% vs 3.96% for CLIP. On fees, CLIP is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USFR or CLIP?

Over the 1-year period, USFR has performed better with a 4.03% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USFR or CLIP?

CLIP is cheaper with a 0.07% expense ratio, compared with 0.15% for USFR.

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

USFR and CLIP have nearly identical dividend yields, around 3.91%.

What is the main difference between USFR and CLIP?

USFR is categorized as Government Bonds, while CLIP is Ultrashort Bond. USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index, while CLIP tracks Solactive 1-3 month US T-Bill Index - USD. They also come from different issuers: WisdomTree and Global X. Their fees differ too: 0.15% for USFR and 0.07% for CLIP.

Which has better risk-adjusted returns?

CLIP currently has the higher Sharpe Ratio (17.26 vs 15.11), 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.