State Street SPDR Bloomberg Investment Grade Floating Rate ETF
$30.82+0.01 (+0.05%)
- Expense ratio
- 0.15%
- Fund size
- $3.1B
- 1Y return
- +4.3%
- Yield · Last 12 months
- 4.32%
- Holdings
- 555
- Volume · 30D
- 1.3M sh
- NAV per share
- $30.79
- 52W range
The ETF.net FLRN Grade
Score 71 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 52Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.AScore 81Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 62Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 57Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 79Category rank
Our read on FLRN
AThe floating-rate outlier on a shelf full of fixed-coupon short bond funds. FLRN owns investment-grade notes whose coupons reset with short-term rates, so the income tracks today's rates rather than the ones locked in years ago.
The fund seeks to track, before fees and expenses, the price and yield performance of the Bloomberg U.S. Dollar Floating Rate Note < 5 Years Index. It provides exposure to investment-grade debt instruments with variable coupons and fixed spreads.
Why people hold it
- Variable coupons with a fixed spread mean rate moves show up in the payout rather than the price, which keeps interest-rate sensitivity low by design.ssga.com
- The index takes only USD investment-grade floating rate notes maturing in under five years with at least $300 million outstanding, a size screen that skews toward larger, widely held issues.ssga.com
- Trading since 2011, a multi-billion-dollar fund that pays monthly and spreads across roughly 600 notes. No exotic sleeve bolted onto the mandate.
Worth knowing
- At 0.15% it costs more than fixed-coupon short-term peers like VCSH (0.03%) and IGSB (0.04%). You are paying for the floating structure, not a cheaper version of the same thing.
- Resets cut both ways. When short-term rates climb the coupon follows, and when they fall the income follows them down.
- Rate protection is not credit protection. These are investment-grade corporate and government-related notes, and their prices still move with credit spreads.ssga.com
FLRN Holdings
- Bonds
- 555
- 9%
- SSI US GOV MONEY MARKET CLASS
Geography
- United States55.44%
- United Kingdom8.12%
- Australia7.74%
- Canada5.93%
- Japan5.16%
- South Korea3.71%
- France2.50%
- Sweden1.57%
- 9.83%
Developed 88% · Emerging 12%
FLRN Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
FLRN$10,432
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FLRN |
|---|---|
| Year to date | +3.0% |
| 1 month | +0.3% |
| 3 months | +1.0% |
| 1 year | +4.3% |
| 3 years | +5.4% |
| 5 years | +4.4% |
| 10 years | +3.1% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FLRN |
|---|---|---|
| 2026 YTD | +3.0% | |
| 2025 | +5.0% | |
| 2024 | +6.3% | |
| 2023 | +6.5% | |
| 2022 | +1.3% | |
| 2021 | +0.4% | |
| 2020 | +0.8% |
FLRN in the news
FLRN Dividends
- 4.32%
- $1.33
- $0.11 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 4, 2026 | $0.11 |
| Aug 3, 2026 | Aug 6, 2026 | $0.11 |
| Jul 1, 2026 | Jul 7, 2026 | $0.11 |
| Jun 1, 2026 | Jun 4, 2026 | $0.11 |
| May 1, 2026 | May 6, 2026 | $0.11 |
| Apr 1, 2026 | Apr 6, 2026 | $0.11 |
| Mar 2, 2026 | Mar 5, 2026 | $0.10 |
| Feb 2, 2026 | Feb 5, 2026 | $0.11 |
| Dec 18, 2025 | Dec 23, 2025 | $0.12 |
| Dec 1, 2025 | Dec 4, 2025 | $0.12 |
| Nov 3, 2025 | Nov 6, 2025 | $0.12 |
| Oct 1, 2025 | Oct 6, 2025 | $0.12 |
FLRN Risk
- 0.4%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 2.41
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −2.2%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.02
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FLRN Cost
0.15%
FLRN0.15%
- The middle half of Investment Grade Corporate (0-5 Year) funds
- Median 0.15%
8 of the 23 Investment Grade Corporate (0-5 Year) funds charge less.