TFLO:what it yields, how rates move it and what it holds
iShares Treasury Floating Rate Bond ETF. Portfolio as of July 31, 2026, from the fund's SEC filing (Form N-PORT).
Floating rate. Bonds and loans whose coupon moves with rates, so their price barely moves when rates do.
Yield to maturity (YTM)
3.99%
+0.16 points over US Treasuries of the same maturity
As of July 31, 2026, before the fund's costs.
- If rates rise 1 pointestimated from its duration, 0.0 years
- ≈0%
- Investment gradeof the credit risk, BBB or better
- 100%
- Size10 positions
- $6.7B
In a few words
TFLO holds 10 positions. 100% of the portfolio is US Treasury bonds. On July 31, 2026, the bonds it holds had a yield to maturity (YTM) of 3.99% a year, before the fund's costs. Its price barely moves when rates do. In 2022, when rates rose sharply, its total return was +1.9%.
Every ETF in Floating ratePast returns
The ETF's total return, price change plus distributions, as the fund reports it to the SEC.
Last 12 months
+3.9%
3 years, average per year
+4.7%
Worst 12 months
-0.0%
Largest fall from a peak
-0.1%
100 at the start 121.8 at the end, distributions reinvested
What it holds
Portfolio as of July 31, 2026: when the bonds it holds mature, and its main figures.
When they mature
Details
- Issuer
- US Treasury, 99.6%
- Positions
- 10
- Average coupon
- 3.99%
- Floating rate
- 99.6%
- In other currencies
- 0.0%
- Mortgage-backed
- 0.0%
- In default
- 0.00%
- Hard to value
- 0.00%
- Cash and cash funds
- 0.9%
Maturities as stated on the bonds. Mortgage bonds, many corporate bonds and city bonds can be repaid early, so in practice they mature sooner.
Similar bond ETFs
Same kind as TFLO, nearest in rate sensitivity.
- USFRWisdomTree Floating Rate Treasury FundIf rates +1%≈0%
- FLOTiShares Floating Rate Bond ETFIf rates +1%≈0%
- JAAAJanus Henderson AAA CLO ETFIf rates +1%≈0%
- PAAAPGIM AAA CLO ETFIf rates +1%-0.1%
- BKLNInvesco Senior Loan ETFIf rates +1%-0.1%
- SRLNState Street Blackstone Senior Loan ETFIf rates +1%-0.3%
| ETF | Yield (YTM) | If rates +1% | 2022 | Size |
|---|---|---|---|---|
| USFRWisdomTree Floating Rate Treasury Fund | 3.83% | ≈0% | +1.9% | $18.8B |
| FLOTiShares Floating Rate Bond ETF | 4.39% | ≈0% | +1.2% | $10.3B |
| JAAAJanus Henderson AAA CLO ETF | 4.99% | ≈0% | +0.5% | $29.2B |
| PAAAPGIM AAA CLO ETF | 4.66% | -0.1% | – | $12.4B |
| BKLNInvesco Senior Loan ETF | 6.71% | -0.1% | -1.6% | $6.7B |
| SRLNState Street Blackstone Senior Loan ETF | 7.16% | -0.3% | -4.5% | $5.2B |
The full analysis
And what about stocks?
Bonds are only one side of investing. With Ploutos AI you can analyse a company through its official SEC filings, look into its financials and understand what lies behind the numbers. Every finding comes with a reference to its source, so you can check the data behind the analysis.
- A fair value range built from the filings
- Earnings quality, debt and red flags
- Insider and institutional moves
- The case for and the case against
How much would TFLO fall if rates rose?
With a duration of 0.0 years, an immediate one-point rise in rates would take about 0.0% off its price. An equal fall would add about the same.
What is TFLO's yield?
On July 31, 2026, according to its filing, the bonds it holds had a yield to maturity (YTM) of 3.99% a year, before the fund's costs. That is not the distribution the ETF pays, and it moves every day with prices.
How did TFLO do in 2022?
In 2022 TFLO returned +1.9% in total, as the fund reports it.
Is this TFLO's dividend yield?
No. The yield to maturity shown here is what the bonds the fund holds would earn a year if held to maturity, at the prices on the filing date. The dividend yield measures what the ETF paid over the last 12 months against its price, and it lags, because it depends on the coupons of bonds bought earlier. The SEC yield the issuer publishes is a standardised 30-day figure after costs, and usually lands close to the yield to maturity, a little below. When rates have risen, the dividend yield is usually lower than the other two.
Related pages
This page describes what bond ETFs hold, based on their SEC filings. Bond prices change every day and past returns do not say what comes next.