VFISX vs. TFLO
Compare and contrast key facts about Vanguard Short-Term Treasury Fund Investor Shares (VFISX) and iShares Treasury Floating Rate Bond ETF (TFLO).
VFISX is managed by Vanguard. It was launched on Oct 28, 1991. TFLO is a passively managed fund by iShares that tracks the performance of the Barclays U.S. Treasury Floating Rate Index. It was launched on Feb 3, 2014.
Performance
VFISX vs. TFLO - Performance Comparison
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VFISX vs. TFLO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFISX Vanguard Short-Term Treasury Fund Investor Shares | -0.02% | 5.36% | 3.75% | 3.54% | -4.71% | -0.88% | 3.95% | 3.60% | 1.36% | 0.38% |
TFLO iShares Treasury Floating Rate Bond ETF | 0.94% | 4.22% | 5.34% | 5.12% | 1.99% | -0.02% | 0.43% | 2.04% | 1.76% | 1.01% |
Returns By Period
In the year-to-date period, VFISX achieves a -0.02% return, which is significantly lower than TFLO's 0.94% return. Over the past 10 years, VFISX has underperformed TFLO with an annualized return of 1.58%, while TFLO has yielded a comparatively higher 2.27% annualized return.
VFISX
- 1D
- 0.10%
- 1M
- -0.70%
- YTD
- -0.02%
- 6M
- 0.90%
- 1Y
- 3.32%
- 3Y*
- 3.72%
- 5Y*
- 1.38%
- 10Y*
- 1.58%
TFLO
- 1D
- 0.02%
- 1M
- 0.30%
- YTD
- 0.94%
- 6M
- 2.01%
- 1Y
- 4.08%
- 3Y*
- 4.85%
- 5Y*
- 3.49%
- 10Y*
- 2.27%
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VFISX vs. TFLO - Expense Ratio Comparison
VFISX has a 0.20% expense ratio, which is higher than TFLO's 0.15% 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%.
Return for Risk
VFISX vs. TFLO — Risk / Return Rank
VFISX
TFLO
VFISX vs. TFLO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Treasury Fund Investor Shares (VFISX) 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.
| VFISX | TFLO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.56 | 13.82 | -12.26 |
Sortino ratioReturn per unit of downside risk | 2.57 | 45.26 | -42.69 |
Omega ratioGain probability vs. loss probability | 1.33 | 11.00 | -9.68 |
Calmar ratioReturn relative to maximum drawdown | 2.70 | 207.22 | -204.52 |
Martin ratioReturn relative to average drawdown | 9.57 | 736.01 | -726.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VFISX | TFLO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 13.82 | -12.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 9.84 | -9.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 4.54 | -3.79 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.53 | 0.97 | +0.57 |
Correlation
The correlation between VFISX and TFLO is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VFISX vs. TFLO - Dividend Comparison
VFISX's dividend yield for the trailing twelve months is around 3.48%, less than TFLO's 4.00% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VFISX Vanguard Short-Term Treasury Fund Investor Shares | 3.48% | 3.89% | 4.38% | 3.95% | 1.93% | 0.52% | 2.20% | 2.39% | 2.10% | 1.15% | 1.18% | 0.83% |
TFLO iShares Treasury Floating Rate Bond ETF | 4.00% | 4.16% | 5.21% | 4.88% | 1.68% | 0.00% | 0.36% | 2.08% | 1.65% | 0.86% | 0.31% | 0.15% |
Drawdowns
VFISX vs. TFLO - Drawdown Comparison
The maximum VFISX drawdown since its inception was -6.86%, which is greater than TFLO's maximum drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for VFISX and TFLO.
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Drawdown Indicators
| VFISX | TFLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.86% | -5.01% | -1.85% |
Max Drawdown (1Y)Largest decline over 1 year | -1.40% | -0.02% | -1.38% |
Max Drawdown (5Y)Largest decline over 5 years | -6.86% | -0.13% | -6.73% |
Max Drawdown (10Y)Largest decline over 10 years | -6.86% | -0.50% | -6.36% |
Current DrawdownCurrent decline from peak | -1.00% | 0.00% | -1.00% |
Average DrawdownAverage peak-to-trough decline | -0.65% | -0.10% | -0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.01% | +0.39% |
Volatility
VFISX vs. TFLO - Volatility Comparison
Vanguard Short-Term Treasury Fund Investor Shares (VFISX) has a higher volatility of 0.66% compared to iShares Treasury Floating Rate Bond ETF (TFLO) at 0.07%. This indicates that VFISX's price experiences larger fluctuations and is considered to be riskier than TFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFISX | TFLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 0.07% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 1.41% | 0.21% | +1.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.23% | 0.30% | +1.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.64% | 0.36% | +2.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.10% | 0.50% | +1.60% |