UTWY vs. USFR
UTWY (F/m US Treasury 20 Year Bond ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both Government Bonds funds - UTWY tracks the Bloomberg US Treasury Bellwether 20 Year Index while USFR tracks the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 3 years, UTWY returned -0.41%/yr vs 4.69%/yr for USFR. Their -0.09 correlation means they have often moved in opposite directions in the past. Both charge a 0.15% expense ratio.
Performance
UTWY vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, UTWY achieves a -3.22% return, which is significantly lower than USFR's 2.27% return.
UTWY
- 1D
- -0.65%
- 1M
- -3.22%
- 6M
- -3.26%
- YTD
- -3.22%
- 1Y
- -1.66%
- 3Y*
- -0.41%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.63%
USFR
- 1D
- 0.02%
- 1M
- 0.34%
- 6M
- 1.89%
- YTD
- 2.27%
- 1Y
- 3.95%
- 3Y*
- 4.69%
- 5Y*
- 3.81%
- 10Y*
- 2.48%
- ALL TIME*
- 1.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $315.80M | $253.72M | $243.43M | |
| $108.36K | $60.31K | $63.45K |
UTWY vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
UTWY F/m US Treasury 20 Year Bond ETF | -3.22% | 4.82% | -4.92% | -1.86% |
USFR WisdomTree Floating Rate Treasury Fund | 2.27% | 4.23% | 5.47% | 4.12% |
Correlation
The correlation between UTWY and USFR is -0.11, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.11 |
Correlation (3Y) Balances recent behavior with more history. | -0.09 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023 | -0.09 |
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Return for Risk
UTWY vs. USFR — Risk / Return Rank
UTWY
USFR
UTWY vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/m US Treasury 20 Year Bond ETF (UTWY) and WisdomTree Floating Rate Treasury Fund (USFR). 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.
| UTWY | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -14.69 | ||
| Sortino ratioReturn per unit of downside risk | -51.61 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 14.07 | -13.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 200.37 | -200.43 |
| Martin ratioReturn relative to average drawdown | -0.12 | 800.42 | -800.54 |
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Drawdowns
UTWY vs. USFR - Drawdown Comparison
The maximum UTWY drawdown since its inception was -18.19%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for UTWY and USFR.
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Drawdown Indicators
| UTWY | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.19% | -1.36% | -16.83% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -0.02% | -6.70% |
Max Drawdown (3Y)Largest decline over 3 years | -11.88% | -0.06% | -11.82% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.18% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.80% | — |
Current DrawdownCurrent decline from peak | -8.47% | 0.00% | -8.47% |
Average DrawdownAverage peak-to-trough decline | -6.98% | -0.15% | -6.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 0.00% | +3.00% |
Volatility
UTWY vs. USFR - Volatility Comparison
F/m US Treasury 20 Year Bond ETF (UTWY) has a higher volatility of 2.09% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.09%. This indicates that UTWY's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTWY | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.09% | 0.09% | +2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 6.01% | 0.20% | +5.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.83% | 0.27% | +7.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.97% | 0.39% | +10.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.97% | 0.76% | +10.21% |
UTWY vs. USFR - Expense Ratio Comparison
Both UTWY and USFR 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
UTWY vs. USFR - Dividend Comparison
UTWY's dividend yield for the trailing twelve months is around 5.27%, more than USFR's 3.79% 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% |
UTWY F/m US Treasury 20 Year Bond ETF | 4.85% | 4.62% | 4.56% | 2.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UTWY and USFR have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTWY has higher volatility (2.09%) compared to USFR (0.09%). In terms of maximum drawdown, UTWY dropped -18.19% vs USFR's -1.36%.
On 3-year performance, USFR leads with 4.69% vs -0.41% for UTWY. Both ETFs have the same 0.15% expense ratio. On volatility, USFR has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, USFR has performed better with a 4.69% return vs -0.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UTWY and USFR have the same expense ratio: 0.15% per year.
UTWY has the higher dividend yield at 4.85%, compared with 3.79% for USFR.
UTWY tracks Bloomberg US Treasury Bellwether 20 Year Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: F/m and WisdomTree.
USFR currently has the higher Sharpe Ratio (14.64 vs -0.05), 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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