TFLO vs USFR: Yield, Cost and Returns Compared
As of Nov 5, 2026, TFLO yields more: 3.72% (current yield) against 3.71% for USFR. TFLO is cheaper to own at 0.15% a year vs 0.15%. Over the same 12 years (Feb 2014 to Oct 2026), TFLO returned 2.0% a year with distributions reinvested, and USFR 2.0%.
USFRWisdomTree Floating Rate Treasury Fund3.71%current yield| Compared | TFLO | USFR |
|---|---|---|
| YieldCurrent yield | 3.72% | 3.71% |
| Expense ratio | 0.15% | 0.15% |
| Total return, 1 yr | +4.0% | +4.0% |
| Total return, 3 yr (a year) | +4.6% | +4.6% |
| Total return, 5 yr (a year) | +4.0% | +4.0% |
| Total return, 10 yr (a year) | +2.5% | +2.6% |
| Worst drop since Feb 2014 | -0.5% | -1.3% |
| Share price since Feb 2014 | +1% | +1% |
| Pays | Monthly | Monthly |
| Issuer | iShares | WisdomTree |
| Assets | $7.3B | $21.3B |
| Started | 2014 | 2014 |
| Type | Treasury ETF | Treasury ETF |
Higher yield
TFLO
3.72%
Lower cost
TFLO
0.15%
Better total return
TFLO
2.0%/yr
Smaller worst drop
TFLO
-0.5%
Key facts: TFLO vs USFR
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, TFLO yields 3.72% (current yield) and USFR yields 3.71% (current yield).
- TFLO's expense ratio is 0.15% and USFR's is 0.15%: $15 vs $15 a year on $10,000.
- From Feb 2014 to Oct 2026, $10,000 in TFLO grew to $12,890 (2.0% a year) and $10,000 in USFR to $12,887 (2.0% a year), distributions reinvested.
- Their worst month-end drops over that time: -0.5% for TFLO and -1.3% for USFR.
- 0 of TFLO's top ten holdings are also in USFR's top ten.
Cite this page
SmarterDividends, "TFLO vs USFR: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/tflo-vs-usfr
$10,000 in each, Feb 2014 to Oct 2026
Distributions reinvested, month-end values.
TFLO became
$12,890
2.0% a year
USFR became
$12,887
2.0% a year
Year by year
| Year | TFLO | USFR |
|---|---|---|
| 2025 | +4.2% | +4.2% |
| 2024 | +5.3% | +5.5% |
| 2023 | +5.1% | +5.2% |
| 2022 | +2.0% | +2.0% |
| 2021 | +0.0% | −0.0% |
| 2020 | +0.4% | +0.5% |
| 2019 | +2.0% | +2.0% |
| 2018 | +1.8% | +2.0% |
| 2017 | +1.0% | +1.0% |
| 2016 | −0.1% | +0.8% |
| 2015 | +0.6% | −0.1% |
Total return each calendar year, distributions reinvested.
What each holds and how it's taxed
- TFLO · Treasury ETF
- Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies).
- USFR · Treasury ETF
- Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies).
General information, not tax advice. Every cash fund by yield →
Top holdings
No overlap in the top ten.
TFLO
- XTSLA BlackRock Cash Funds Treasury SL Agency0.1%
USFR
- DTRXX BNY Dreyfus Treasury Oblgtns Csh Mgt Ins0.0%
TFLO vs USFR: questions
Is TFLO or USFR better?
It depends on the job. TFLO pays more today (3.72% vs 3.71%), TFLO costs less, and TFLO has the better total return over Feb 2014 to Oct 2026, with TFLO holding up better in its worst stretch. For cash you may need soon, yield after tax and how easily you can get the money out matter more than past returns.
Which pays a higher dividend, TFLO or USFR?
TFLO, at 3.72% against 3.71% for USFR as of Nov 5, 2026. On $10,000 that's about $372 vs $371 a year at today's rates.
Which has the better total return?
TFLO. From Feb 2014 to Oct 2026, it returned 2.0% a year with distributions reinvested, against 2.0% for USFR. $10,000 became $12,890 vs $12,887.
Which is cheaper, TFLO or USFR?
TFLO, with a 0.15% expense ratio against 0.15%.
How are TFLO and USFR taxed?
TFLO: Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies). USFR: Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies). General information, not tax advice.
Do TFLO and USFR hold the same things?
Not at the top: none of their top ten holdings match.
Related comparisons
Yields, costs and holdings as each fund reports them (via Yahoo Finance), updated daily; returns from month-end prices with distributions reinvested. USFR leads on 4 of 6 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.