GOVT vs TFLO: Grades, Fees and Holdings Compared

iShares U.S. Treasury Bond ETF

GOVTACboe

iShares Treasury Floating Rate Bond ETF

TFLO—NYSE Arca

Overlap

No data

Expense ratio

GOVT −0.10pt a year

GOVT0.05%TFLO0.15%

Avg volume · 30D

GOVT 6.5×the volume

GOVT11.1MTFLO1.71M

10Y return · a year

TFLO +1.7pt

GOVT+0.8%TFLO+2.5%

GOVT vs TFLO Performance

Oct 29, 2021 – Oct 30, 2026

−3.0%GOVT+21.6%TFLO

Expense ratio: GOVT 0.05%, better; TFLO 0.15%
Fund size: GOVT $43.2B; TFLO $7.35B
1Y total return: GOVT −0.3%; TFLO +4.0%, better
Yield (12M): GOVT 3.73%, better; TFLO 3.72%
Holdings: GOVT 236; TFLO 10
Avg volume (30D): GOVT 11.1M sh, better; TFLO 1.71M sh
NAV per share: GOVT $22.30; TFLO $50.68
52W range

ETF.net Grade

—TFLOUnder classification review

Pillar letters and Scores for GOVT, TFLO, with each pillar’s weight
Pillar	GOVT	TFLO
Cost30% weight	A87	Not scored
Mission25% weight	A97	Not scored
Risk15% weight	C48	Not scored
Tradability15% weight	A77	Not scored
Holdings10% weight	B62	Not scored
Durability5% weight	A92	Not scored

Rank among US Treasury & Government funds

How we build Categories ›

US Treasury & Government⁠

Category · 16 funds

See all 16 ›

GOVT ranks 1st of 16 funds in the US Treasury & Government Category.

Rank 1AGOVTiShares U.S. Treasury Bond ETFScore 79
Rank 2ASPTBState Street SPDR Portfolio Treasury ETFScore 78
TFLONot yet graded

Our read on each fund

ETF.net Research

GOVTAiShares U.S. Treasury Bond ETF

TFLO—iShares Treasury Floating Rate Bond ETF

In short

GOVT The plain-vanilla Treasury sleeve. One index fund spanning the full maturity spectrum of US government debt, running since 2012 at five basis points, with none of the credit risk that lives in the rest of the bond aisle.

TFLO No data

Stated mandate

GOVT The fund seeks to track an index of U.S. Treasury bonds spanning the full maturity spectrum, providing broad exposure to U.S. government debt for stability and income.

TFLO No data

Why people hold it

GOVT Charges 0.05% a year, well under the median fee in its broad-Treasury peer group.
Tracks the ICE US Treasury Core Bond Index tightly, one of the cleaner index implementations among broad Treasury funds.
A multi-billion-dollar fund that trades heavily, which tends to show up as thin bid-ask spreads for retail-size orders.
US Treasury debt and nothing else, paid out monthly. No corporate credit to underwrite, no mortgage prepayments to model.ishares.com

TFLO No data

Worth knowing

GOVT Covering the full maturity spectrum means long-dated bonds are in the mix, so the share price moves with interest rates more than a short-dated Treasury fund's would.
Nominal Treasuries only. Inflation-linked exposure sits in different funds, such as SPIP or VTP.
SPTB runs the same broad-Treasury idea at 0.03%, two basis points less.

TFLO No data

Full GOVT profile⁠

Full TFLO profile⁠

GOVT vs TFLO Holdings

How GOVT and TFLO differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Asset classFixed Income100%
Countryby domicile100%
Sector1 Sector100%

Sector

Sector weights in GOVT and TFLO, widest gap first
Sector	More in GOVTMore in TFLO	GOVT	TFLO
Treasuries	Same weight	100.0%	100.0%

Country, concentration and asset class

Country by domicile

Country weights in GOVT and TFLO, widest gap first
Country	More in GOVTMore in TFLO	GOVT	TFLO
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

GOVT20.8%
TFLO110.8%

Securities held

GOVT234
TFLO9

Asset class

GOVT: Fixed Income
TFLO: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. GOVT holds 234 securities, TFLO 9.

All 229 GOVT holdings⁠All 9 TFLO holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

GOVT vs TFLO Cost

Overpaying TFLO vs GOVT

$2,077

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

GOVT 0.05%
$1,060
TFLO 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

GOVT 0.05%
TFLO 0.15%
Overpaying

Year by year

Year	GOVT	TFLO	Overpaying
10	$92	$274	$182
20	$360	$1,071	$711
30	$1,060	$3,137	$2,077

Expense ratio

0.05%GOVT, cheaper
0.15%TFLO

GOVT0.05%TFLO0.15%

0.03%1.04%

Middle half of US Treasury & Government funds
Median 0.15%

GOVT 3rd cheapest of 16 funds

TFLO 7th cheapest of 16 funds

GOVT vs TFLO Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GOVT 3.73%, better; TFLO 3.72%
Payout (12M): GOVT $0.83; TFLO $1.89
Last payment: GOVT $0.07; TFLO $0.16
Ex-dividend: GOVT Oct 1, 2026; TFLO Oct 1, 2026
Paid on: GOVT Oct 6, 2026; TFLO Oct 6, 2026
Frequency: GOVT Monthly; TFLO Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GOVTMonthly · 45 paymentsAll GOVT payments⁠

TFLOMonthly · 45 paymentsAll TFLO payments⁠

GOVT vs TFLO Risk

Fall from peak · 5 years

GOVT
TFLO

Risk facts

VolatilityStd dev, 3 years: GOVT 5.1%TFLO 0.2%, better
Return per unit of riskSharpe ratio, 3 years: GOVT −0.01TFLO 0.07, better
Worst fallMax drawdown, 5 years: GOVT −16.2%TFLO −0.1%, better
Market sensitivityBeta, 5 years: GOVT 0.88TFLO −0.02; Market = 1

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