USHY vs. FLOT
USHY (iShares Broad USD High Yield Corporate Bond ETF) and FLOT (iShares Floating Rate Bond ETF) are both exchange-traded funds - USHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index, while FLOT is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note < 5 Years Index. Both are passively managed. Over the past 5 years, USHY returned 4.21%/yr vs 4.22%/yr for FLOT. At a 0.23 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
USHY vs. FLOT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, USHY achieves a 1.75% return, which is significantly lower than FLOT's 1.99% return.
USHY
- 1D
- 0.03%
- 1M
- 0.68%
- YTD
- 1.75%
- 6M
- 2.37%
- 1Y
- 7.19%
- 3Y*
- 8.94%
- 5Y*
- 4.21%
- 10Y*
- —
FLOT
- 1D
- 0.02%
- 1M
- 0.45%
- YTD
- 1.99%
- 6M
- 2.23%
- 1Y
- 4.87%
- 3Y*
- 5.66%
- 5Y*
- 4.22%
- 10Y*
- 3.04%
USHY vs. FLOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.75% | 8.81% | 8.45% | 12.73% | -11.18% | 5.02% | 6.17% | 14.24% | -2.41% | 0.16% |
FLOT iShares Floating Rate Bond ETF | 1.99% | 4.91% | 6.53% | 6.43% | 1.28% | 0.45% | 0.87% | 3.97% | 1.48% | 0.20% |
Correlation
The correlation between USHY and FLOT is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017 | 0.23 |
The correlation between USHY and FLOT shifts across timeframes, from 0.23 (all time) to 0.41 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
USHY vs. FLOT — Risk / Return Rank
USHY
FLOT
USHY vs. FLOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD High Yield Corporate Bond ETF (USHY) and iShares Floating Rate Bond ETF (FLOT). 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.
| USHY | FLOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.68 | ||
| Sortino ratioReturn per unit of downside risk | -9.01 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 3.23 | -1.87 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | 11.32 | -8.47 |
| Martin ratioReturn relative to average drawdown | 12.77 | 105.27 | -92.50 |
Loading charts...
Drawdowns
USHY vs. FLOT - Drawdown Comparison
The maximum USHY drawdown since its inception was -22.44%, which is greater than FLOT's maximum drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for USHY and FLOT.
Loading charts...
Drawdown Indicators
| USHY | FLOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.44% | -13.54% | -8.90% |
Max Drawdown (1Y)Largest decline over 1 year | -2.43% | -0.43% | -2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -4.66% | -1.57% | -3.09% |
Max Drawdown (5Y)Largest decline over 5 years | -15.56% | -2.36% | -13.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.54% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.66% | -0.21% | -2.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 0.05% | +0.49% |
Volatility
USHY vs. FLOT - Volatility Comparison
iShares Broad USD High Yield Corporate Bond ETF (USHY) has a higher volatility of 1.20% compared to iShares Floating Rate Bond ETF (FLOT) at 0.21%. This indicates that USHY's price experiences larger fluctuations and is considered to be riskier than FLOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| USHY | FLOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 0.21% | +0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 0.63% | +2.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.69% | 0.75% | +2.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.35% | 1.77% | +5.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.24% | 4.15% | +4.09% |
USHY vs. FLOT - Expense Ratio Comparison
Both USHY and FLOT 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
USHY vs. FLOT - Dividend Comparison
USHY's dividend yield for the trailing twelve months is around 6.90%, more than FLOT's 4.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 4.53% | 4.84% | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.90% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% | 0.00% | 0.00% |
Frequently Asked Questions
USHY and FLOT have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USHY has higher volatility (1.20%) compared to FLOT (0.21%). In terms of maximum drawdown, USHY dropped -22.44% vs FLOT's -13.54%.
On 5-year performance, FLOT leads with 4.22% vs 4.21% for USHY. Both ETFs have the same 0.15% expense ratio. On volatility, FLOT has been the lower-risk option at 0.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLOT has performed better with a 4.22% return vs 4.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USHY and FLOT have the same expense ratio: 0.15% per year.
USHY has the higher dividend yield at 6.90%, compared with 4.53% for FLOT.
USHY is categorized as High Yield Bonds, while FLOT is Ultrashort Bond. USHY tracks ICE BofA US High Yield Constrained Index, while FLOT tracks Bloomberg US Floating Rate Note < 5 Years Index.
FLOT currently has the higher Sharpe Ratio (6.56 vs 1.88), 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.
Find the right allocation for USHY and FLOT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer