USFR vs. VMRXX

Last updated Aug 5, 2026

USFR (WisdomTree Floating Rate Treasury Fund) and VMRXX (Vanguard Cash Reserves Federal Money Market Fund Admiral Shares) are both funds - USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index, while VMRXX is a Money Market fund actively managed by Vanguard. USFR is passively managed, while VMRXX is actively managed. Over the past 5 years, USFR returned 3.81%/yr vs 3.09%/yr for VMRXX. Their 0.13 correlation means their historical movements had little consistent relationship. USFR charges 0.15%/yr vs 0.10%/yr for VMRXX.

Performance

USFR vs. VMRXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Floating Rate Treasury Fund (USFR) and Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USFR achieves a 2.29% return, which is significantly higher than VMRXX's 1.80% return.

USFR

• 1D: 0.00%
• 1M: 0.36%
• 6M: 1.89%
• YTD: 2.29%
• 1Y: 3.97%
• 3Y*: 4.68%
• 5Y*: 3.81%
• 10Y*: 2.48%
• ALL TIME*: 1.98%

VMRXX

• 1D: 0.00%
• 1M: 0.00%
• 6M: 1.49%
• YTD: 1.80%
• 1Y: 3.54%
• 3Y*: 4.24%
• 5Y*: 3.09%
• 10Y*: —
• ALL TIME*: 2.98%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
USFR WisdomTree Floating Rate Treasury Fund	$352.79M	$265.75M	$249.59M
VMRXX Vanguard Cash Reserves Federal Money Market Fund Admiral Shares	$0.00	$0.00	$0.00

USFR vs. VMRXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
USFR WisdomTree Floating Rate Treasury Fund	2.29%	4.23%	5.47%	5.18%	1.98%	-0.05%
VMRXX Vanguard Cash Reserves Federal Money Market Fund Admiral Shares	1.80%	4.25%	4.84%	4.65%	0.00%	0.01%

Correlation

The correlation between USFR and VMRXX is 0.19, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.19
Correlation (3Y) Balances recent behavior with more history.	0.16
Correlation (5Y) Shows whether the relationship held over a longer period.	0.13
Correlation (All Time) Calculated using the full available price history since May 25, 2021	0.13

Return for Risk

USFR vs. VMRXX — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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

VMRXX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

USFR vs. VMRXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Floating Rate Treasury Fund (USFR) and Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX). 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	VMRXX	Difference
Sharpe ratio: Return per unit of total volatility	14.64	3.50	+11.14
Sortino ratio: Return per unit of downside risk	51.60	—	—
Omega ratio: Gain probability vs. loss probability	14.07	—	—
Calmar ratio: Return relative to maximum drawdown	200.37	—	—
Martin ratio: Return relative to average drawdown	800.41	—	—

USFR vs. VMRXX - Sharpe Ratio Comparison

The current USFR Sharpe Ratio is 14.64, which is higher than the VMRXX Sharpe Ratio of 3.50. The chart below compares the historical Sharpe Ratios of USFR and VMRXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

USFR vs. VMRXX - Drawdown Comparison

The maximum USFR drawdown since its inception was -1.36%, which is greater than VMRXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for USFR and VMRXX.

Drawdown Indicators

	USFR	VMRXX	Difference
Max Drawdown Largest peak-to-trough decline	-1.36%	0.00%	-1.36%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	0.00%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-0.06%	0.00%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-0.18%	0.00%	-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	-0.15%	0.00%	-0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.00%	0.00%

Volatility

USFR vs. VMRXX - Volatility Comparison

WisdomTree Floating Rate Treasury Fund (USFR) has a higher volatility of 0.09% compared to Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX) at 0.00%. This indicates that USFR's price experiences larger fluctuations and is considered to be riskier than VMRXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USFR	VMRXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.09%	0.00%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	0.20%	0.72%	-0.52%
Volatility (1Y) Calculated over the trailing 1-year period	0.27%	1.05%	-0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.39%	1.09%	-0.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.76%	1.07%	-0.31%

USFR vs. VMRXX - Expense Ratio Comparison

USFR has a 0.15% expense ratio, which is higher than VMRXX's 0.10% 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. VMRXX - Dividend Comparison

USFR's dividend yield for the trailing twelve months is around 3.79%, more than VMRXX's 3.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
USFR WisdomTree Floating Rate Treasury Fund	3.79%	4.15%	5.17%	5.12%	1.78%	0.01%	0.40%	2.08%	1.67%	1.03%	0.29%
VMRXX Vanguard Cash Reserves Federal Money Market Fund Admiral Shares	3.47%	4.15%	4.71%	4.54%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USFR and VMRXX in my portfolio?

USFR and VMRXX have a correlation of 0.19, 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 VMRXX?

USFR has higher volatility (0.09%) compared to VMRXX (0.00%). In terms of maximum drawdown, USFR dropped -1.36% vs VMRXX's 0.00%.

Which has better risk-adjusted returns?

USFR currently has the higher Sharpe Ratio (14.64 vs 3.50), 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.