State Street SPDR Bloomberg Investment Grade Floating Rate ETF
This fund does not currently behave like the group it was assigned to, so its grouping is being re-reviewed. Grading pauses until the review resolves, because a letter measured against the wrong peer group would be a statement about the wrong funds.
The ETF.net FLRN Grade
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Under classification review
This fund does not currently behave like the group it was assigned to, so its grouping is being re-reviewed. Grading pauses until the review resolves, because a letter measured against the wrong peer group would be a statement about the wrong funds.
Our read on FLRN
The 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
- 552
- 8%
- European Bk Recon & Dev Sr Unsecured 02/28 Var
Geography
- United States54.44%
- United Kingdom8.23%
- Australia7.41%
- Canada5.92%
- Japan5.84%
- South Korea3.91%
- France2.54%
- Norway1.63%
- 10.09%
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$10,450
Returns run to the Oct 12, 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 | +3.3% |
| 1 month | +0.3% |
| 3 months | +1.0% |
| 1 year | +4.5% |
| 3 years | +5.4% |
| 5 years | +4.5% |
| 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 | +3.3% | |
| 2025 | +5.0% | |
| 2024 | +6.3% | |
| 2023 | +6.5% | |
| 2022 | +1.3% | |
| 2021 | +0.4% | |
| 2020 | +0.8% |
FLRN in the news
FLRN Dividends
- 4.27%
- $1.31
- $0.11 per share
- Monthly
Distribution history
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.
- 2.30
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.
Other funds in Investment Grade Corporate (0-5 Year)
- AIGSBiShares 1-5 Year Investment Grade Corporate Bond ETFExpense ratio 0.04%1 year return +1.4%
- AVCSHVanguard Short-Term Corporate Bond ETFExpense ratio 0.03%1 year return +1.4%
- ASCHJSchwab 1-5 Year Corporate Bond ETFExpense ratio 0.03%1 year return +1.4%
- ASPSBState Street SPDR Portfolio Short Term Corporate Bond ETFExpense ratio 0.04%1 year return +2.3%
- BLDRCiShares iBonds 1-5 Year Corporate Ladder ETFExpense ratio 0.10%1 year return +1.5%