A head-to-head comparison of iShares 0-3 Month Treasury Bond ETF and iShares Treasury Floating Rate Bond ETF covering yield, cost, risk, and income potential.
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iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.
See our curated list of related YouTube videos on SGOV and TFLO.
Bottom lineSGOV and TFLO are nearly interchangeable — both offer very similar treasury bills exposure with very similar cost and risk. The clearest tie-breaker is cost: SGOV is cheaper at 0.07% vs 0.15%.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
SGOV (iShares 0-3 Month Treasury Bond ETF) and TFLO (iShares Treasury Floating Rate Bond ETF) are both monthly-pay dividend ETFs, but they take different approaches.
TFLO offers the higher yield at 3.67% vs 3.53% for SGOV. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SGOV is cheaper with an expense ratio of 0.07% compared to 0.15%.
SGOV is the larger fund by assets ($95.2B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, SGOV would generate roughly $29.42/month, while TFLO would produce $30.58/month, at current distribution rates. Both pay monthly distributions.
SGOV yield3.53%
TFLO yield3.67%
Monthly diff on $10K$1.17
Cost & efficiency
Over 10 years on $10,000, SGOV would cost approximately $70 in fees vs $150 for TFLO (simplified, not compounded). The $80.00 difference may be offset by yield or performance.
SGOV ER0.07%
TFLO ER0.15%
Strategy & risk
SGOV tracks ICE 0-3 Month US Treasury Securities Index with a treasury bond approach, while TFLO is an ETF.
SGOV beta-0.0029
TFLO beta-0.02
Fund details
SGOV is managed by iShares (launched 05/26/2020) with $95.2B in assets. TFLO is managed by iShares (launched 02/04/2014) with $6.57B in assets.
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Frequently asked questions
Is SGOV or TFLO better for dividend income?
It depends on your goals. TFLO currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between SGOV and TFLO?
SGOV (iShares 0-3 Month Treasury Bond ETF) tracks ICE 0-3 Month US Treasury Securities Index with a treasury bond approach, while TFLO (iShares Treasury Floating Rate Bond ETF) is an ETF. They are issued by iShares and iShares respectively.
Can I hold both SGOV and TFLO?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, SGOV or TFLO?
SGOV has an expense ratio of 0.07% while TFLO charges 0.15%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in SGOV vs TFLO generate?
At current rates, $10,000 in SGOV would generate roughly $29.42 per month ($353.00 annually). The same in TFLO would produce about $30.58 per month ($367.00 annually).
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