USFR vs. TFLO
USFR (WisdomTree Floating Rate Treasury Fund) and TFLO (iShares Treasury Floating Rate Bond ETF) are both Government Bonds funds - USFR tracks the Bloomberg U.S. Treasury Floating Rate Bond Index while TFLO tracks the Bloomberg U.S. Treasury Floating Rate Index. Both are passively managed. Over the past 10 years, USFR returned 2.43%/yr vs 2.38%/yr for TFLO. At a 0.13 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
USFR vs. TFLO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with USFR having a 1.82% return and TFLO slightly lower at 1.79%. Both investments have delivered pretty close results over the past 10 years, with USFR having a 2.43% annualized return and TFLO not far behind at 2.38%.
USFR
- 1D
- 0.00%
- 1M
- 0.33%
- YTD
- 1.82%
- 6M
- 1.92%
- 1Y
- 3.99%
- 3Y*
- 4.74%
- 5Y*
- 3.72%
- 10Y*
- 2.43%
TFLO
- 1D
- -0.02%
- 1M
- 0.29%
- YTD
- 1.79%
- 6M
- 1.87%
- 1Y
- 3.93%
- 3Y*
- 4.72%
- 5Y*
- 3.68%
- 10Y*
- 2.38%
USFR vs. TFLO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USFR WisdomTree Floating Rate Treasury Fund | 1.82% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 1.03% |
TFLO iShares Treasury Floating Rate Bond ETF | 1.79% | 4.22% | 5.34% | 5.12% | 1.99% | -0.02% | 0.43% | 2.04% | 1.76% | 1.01% |
Correlation
The correlation between USFR and TFLO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | 0.13 |
The correlation between USFR and TFLO shifts across timeframes, from 0.13 (all time) to 0.32 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
USFR vs. TFLO — Risk / Return Rank
USFR
TFLO
USFR vs. TFLO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Floating Rate Treasury Fund (USFR) and iShares Treasury Floating Rate Bond ETF (TFLO). 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.
| USFR | TFLO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +1.38 | ||
| Omega ratioGain probability vs. loss probability | 13.31 | 13.02 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 201.33 | 199.14 | +2.19 |
| Martin ratioReturn relative to average drawdown | 779.76 | 788.97 | -9.20 |
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Drawdowns
USFR vs. TFLO - Drawdown Comparison
The maximum USFR drawdown since its inception was -1.36%, smaller than the maximum TFLO drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for USFR and TFLO.
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Drawdown Indicators
| USFR | TFLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.36% | -5.01% | +3.65% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -0.02% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -0.06% | -0.04% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -0.18% | -0.13% | -0.05% |
Max Drawdown (10Y)Largest decline over 10 years | -0.80% | -0.16% | -0.64% |
Current DrawdownCurrent decline from peak | 0.00% | -0.02% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -0.15% | -0.10% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.00% | +0.01% |
Volatility
USFR vs. TFLO - Volatility Comparison
WisdomTree Floating Rate Treasury Fund (USFR) and iShares Treasury Floating Rate Bond ETF (TFLO) have volatilities of 0.09% and 0.09%, 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.
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Volatility by Period
| USFR | TFLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 0.09% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 0.20% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.27% | 0.29% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.40% | 0.36% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.78% | 0.46% | +0.32% |
USFR vs. TFLO - Expense Ratio Comparison
Both USFR and TFLO have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
USFR vs. TFLO - Dividend Comparison
USFR's dividend yield for the trailing twelve months is around 3.90%, which matches TFLO's 3.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TFLO iShares Treasury Floating Rate Bond ETF | 3.89% | 4.16% | 5.21% | 4.88% | 1.68% | 0.00% | 0.36% | 2.08% | 1.65% | 0.86% | 0.31% | 0.15% |
USFR WisdomTree Floating Rate Treasury Fund | 3.90% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% | 0.00% |
Frequently Asked Questions
USFR and TFLO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TFLO has higher volatility (0.09%) compared to USFR (0.09%). In terms of maximum drawdown, USFR dropped -1.36% vs TFLO's -5.01%.
On 10-year performance, USFR leads with 2.43% vs 2.38% for TFLO. Both ETFs have the same 0.15% expense ratio. 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, USFR has performed better with a 2.43% return vs 2.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR and TFLO have the same expense ratio: 0.15% per year.
USFR has the higher dividend yield at 3.90%, compared with 3.89% for TFLO.
USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index, while TFLO tracks Bloomberg U.S. Treasury Floating Rate Index. They also come from different issuers: WisdomTree and iShares.
USFR currently has the higher Sharpe Ratio (14.67 vs 13.84), 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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