VMRXX vs. USFR
Compare and contrast key facts about Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX) and WisdomTree Bloomberg Floating Rate Treasury Fund (USFR).
VMRXX is an actively managed fund by Vanguard. It was launched on Oct 3, 1989. USFR is a passively managed fund by WisdomTree that tracks the performance of the Bloomberg U.S. Treasury Floating Rate Bond Index. It was launched on Feb 4, 2014.
Performance
VMRXX vs. USFR - Performance Comparison
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VMRXX vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VMRXX Vanguard Cash Reserves Federal Money Market Fund Admiral Shares | 0.59% | 4.25% | 3.45% | 4.65% | 0.00% | 0.01% |
USFR WisdomTree Bloomberg Floating Rate Treasury Fund | 0.93% | 4.23% | 5.47% | 5.18% | 1.98% | -0.07% |
Returns By Period
In the year-to-date period, VMRXX achieves a 0.59% return, which is significantly lower than USFR's 0.93% return.
VMRXX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.59%
- 6M
- 1.59%
- 1Y
- 3.76%
- 3Y*
- 3.94%
- 5Y*
- —
- 10Y*
- —
USFR
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 0.93%
- 6M
- 2.02%
- 1Y
- 4.10%
- 3Y*
- 4.89%
- 5Y*
- 3.52%
- 10Y*
- 2.41%
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VMRXX vs. USFR - Expense Ratio Comparison
VMRXX has a 0.10% expense ratio, which is lower than USFR's 0.15% expense ratio. Despite the difference, 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
VMRXX vs. USFR — Risk / Return Rank
VMRXX
USFR
VMRXX vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX) and WisdomTree Bloomberg 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.
| VMRXX | USFR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.68 | 14.37 | -10.69 |
Sortino ratioReturn per unit of downside risk | — | 42.77 | — |
Omega ratioGain probability vs. loss probability | — | 10.64 | — |
Calmar ratioReturn relative to maximum drawdown | — | 103.73 | — |
Martin ratioReturn relative to average drawdown | — | 661.88 | — |
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
| VMRXX | USFR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.68 | 14.37 | -10.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 8.63 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 3.00 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.70 | 1.57 | +1.13 |
Correlation
The correlation between VMRXX and USFR is 0.13, 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
VMRXX vs. USFR - Dividend Comparison
VMRXX's dividend yield for the trailing twelve months is around 3.69%, less than USFR's 4.00% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
VMRXX Vanguard Cash Reserves Federal Money Market Fund Admiral Shares | 3.69% | 4.15% | 3.38% | 4.54% | 0.00% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USFR WisdomTree Bloomberg Floating Rate Treasury Fund | 4.00% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
Drawdowns
VMRXX vs. USFR - Drawdown Comparison
The maximum VMRXX drawdown since its inception was 0.00%, smaller than the maximum USFR drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for VMRXX and USFR.
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Drawdown Indicators
| VMRXX | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | 0.00% | -1.36% | +1.36% |
Max Drawdown (1Y)Largest decline over 1 year | 0.00% | -0.04% | +0.04% |
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 | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | 0.00% | -0.16% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.01% | -0.01% |
Volatility
VMRXX vs. USFR - Volatility Comparison
The current volatility for Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX) is 0.00%, while WisdomTree Bloomberg Floating Rate Treasury Fund (USFR) has a volatility of 0.09%. This indicates that VMRXX experiences smaller price fluctuations and is considered to be less risky 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
| VMRXX | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 0.09% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 0.77% | 0.19% | +0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.17% | 0.29% | +0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.01% | 0.41% | +0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.01% | 0.81% | +0.20% |