VUSXX vs. TFLO

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Treasury Money Market Fund (VUSXX) and iShares Treasury Floating Rate Bond ETF (TFLO).

VUSXX is managed by Vanguard. It was launched on Sep 1, 2010. 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

VUSXX vs. TFLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Treasury Money Market Fund (VUSXX) and iShares Treasury Floating Rate Bond ETF (TFLO). The values are adjusted to include any dividend payments, if applicable.

VUSXX vs. TFLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VUSXX Vanguard Treasury Money Market Fund	0.59%	4.25%	1.65%	0.43%	0.00%	0.00%
TFLO iShares Treasury Floating Rate Bond ETF	0.94%	4.22%	5.34%	5.12%	1.99%	-0.02%

Returns By Period

In the year-to-date period, VUSXX achieves a 0.59% return, which is significantly lower than TFLO's 0.94% return.

VUSXX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.59%
• 6M: 1.59%
• 1Y: 3.76%
• 3Y*: 2.30%
• 5Y*: —
• 10Y*: —

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%

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

VUSXX vs. TFLO - Expense Ratio Comparison

VUSXX has a 0.08% expense ratio, which is lower than TFLO'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%.

TFLO

iShares Treasury Floating Rate Bond ETF

VUSXX

Vanguard Treasury Money Market Fund

Return for Risk

VUSXX vs. TFLO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TFLO

TFLO Risk / Return Rank: 100
TFLO Sharpe Ratio Rank: 100
TFLO Sortino Ratio Rank: 100
TFLO Omega Ratio Rank: 100
TFLO Calmar Ratio Rank: 100
TFLO Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VUSXX vs. TFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Treasury Money Market Fund (VUSXX) 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.

	VUSXX	TFLO	Difference
Sharpe ratio Return per unit of total volatility	3.51	13.82	-10.32
Sortino ratio Return per unit of downside risk	—	45.26	—
Omega ratio Gain probability vs. loss probability	—	11.00	—
Calmar ratio Return relative to maximum drawdown	—	207.22	—
Martin ratio Return relative to average drawdown	—	736.01	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VUSXX vs. TFLO - Sharpe Ratio Comparison

The current VUSXX Sharpe Ratio is 3.51, which is lower than the TFLO Sharpe Ratio of 13.82. The chart below compares the historical Sharpe Ratios of VUSXX and TFLO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VUSXX	TFLO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.51	13.82	-10.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	9.84	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	4.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.02	0.97	+1.06

Correlation

The correlation between VUSXX and TFLO is 0.03, 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

VUSXX vs. TFLO - Dividend Comparison

VUSXX's dividend yield for the trailing twelve months is around 3.69%, less than TFLO's 4.00% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VUSXX Vanguard Treasury Money Market Fund	3.69%	4.15%	1.63%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

VUSXX vs. TFLO - Drawdown Comparison

The maximum VUSXX drawdown since its inception was 0.00%, smaller than the maximum TFLO drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for VUSXX and TFLO.

Drawdown Indicators

	VUSXX	TFLO	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-5.01%	+5.01%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-0.02%	+0.02%
Max Drawdown (5Y) Largest decline over 5 years	—	-0.13%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.50%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	-0.10%	+0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.01%	-0.01%

Volatility

VUSXX vs. TFLO - Volatility Comparison

The current volatility for Vanguard Treasury Money Market Fund (VUSXX) is 0.00%, while iShares Treasury Floating Rate Bond ETF (TFLO) has a volatility of 0.07%. This indicates that VUSXX experiences smaller price fluctuations and is considered to be less risky than TFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VUSXX	TFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	0.07%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	0.77%	0.21%	+0.56%
Volatility (1Y) Calculated over the trailing 1-year period	1.17%	0.30%	+0.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.72%	0.36%	+0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.72%	0.50%	+0.22%