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RAVI vs TFLO: Differences, Returns & Fees

On Jul 31, 2026 RAVI's duration was 0.5 years and TFLO's 0.0; TFLO charges 0.15% to RAVI's 0.25%. Net assets: $1.5bn on Jul 31, 2026 for Northern Trust Ultra-Short Fixed Income ETF, and $7.2bn on Oct 20, 2026 for iShares Treasury Floating Rate Bond ETF.

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Answers cite the figures on this page.

TFLO costs 0.10 points a year less; their one-year returns differ by 0.2 points; TFLO is 4.5 times larger.

RAVI vs TFLO: Differences, Returns & Fees
RAVITFLO
Expense ratio0.25%0.15%
Net assets, as of Jul 31, 2026$1.5bn$6.7bn
Total return, 1 year+3.8%+4.0%
What it tracksNo index, actively managedBloomberg U.S. Treasury Floating Rate Index
Holdings in common0%

Holdings in common uses holdings dated Jul 31, 2026.

+3.8%
RAVI total return, 1 year
+4.0%
TFLO total return, 1 year
0.25%
RAVI expense ratio
0.15%
TFLO expense ratio

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Client brief · page 1 of 2Report BR-EB6010AB74

RAVI and TFLO are built for the same job. How do they differ in cost, holdings and results?

  1. What each follows. RAVI follows No index, actively managed and TFLO follows Bloomberg U.S. Treasury Floating Rate Index.
  2. Holdings in common. 0% of the weight is in the same securities (holdings dated Jul 31, 2026).
  3. Number of holdings. RAVI holds 244 positions and TFLO holds 8.

Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.

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What they hold in common

By the books each fund has filed, RAVI and TFLO hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026.

half

0% in common

Positions both hold, largest shared weight first
Holding RAVI TFLO
Only in RAVI
FHLMC, due Aug 3, 2026 4.58%
Walt Disney Co. (The), due Mar 14, 2029 2.60%
Merck & Co., Inc., due Mar 15, 2029 1.85%
Bank of America Corp., due May 9, 2029 1.62%
Abbott Laboratories, due Mar 9, 2029 1.55%
AT&T, Inc., due Feb 15, 2027 1.53%
Ingersoll Rand, Inc., due Jun 15, 2027 1.35%
Royal Bank of Canada, Series 1, due Jul 10, 2029 1.34%
Only in TFLO
U.S. Treasury Floating Rate Notes, due Apr 30, 2028 14.37%
U.S. Treasury Floating Rate Notes, due Apr 30, 2027 13.54%
U.S. Treasury Floating Rate Notes, due Jan 31, 2027 13.45%
U.S. Treasury Floating Rate Notes, due Oct 31, 2027 13.37%
U.S. Treasury Floating Rate Notes, due Jan 31, 2028 12.93%
U.S. Treasury Floating Rate Notes, due Jul 31, 2027 12.84%
U.S. Treasury Floating Rate Notes, due Oct 31, 2026 12.83%
U.S. Treasury Floating Rate Notes, due Jul 31, 2028 6.26%

Check overlap with more funds →

On the same fields

RAVI
Northern Trust Ultra-Short Fixed Income ETF
TFLO
iShares Treasury Floating Rate Bond ETF
Where it sits Bond ETF Bond ETF
Issuer Northern Trust iShares
What it is Actively managed Tracks an index
Total return, 1 year +3.8% +4.0%
Its benchmark over the same days not measured +4.0% (USFR)
Gap to its benchmark not measured −0.1 pts vs USFR
Expense ratio 0.25% 0.15%
Holdings 244 8
Net assets, RAVI as of Jul 31, 2026 and TFLO as of Oct 20, 2026 $1.5bn $7.2bn

RAVI and TFLO on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.

About RAVI

RAVI is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned +3.8% with distributions reinvested. The prospectus expense ratio is 0.25% a year.

About TFLO

TFLO tracks an index. Over the year to Oct 20, 2026 it returned +4.0% with distributions reinvested, against +4.0% for its benchmark, the Bloomberg U.S. Treasury Floating Rate Index. The prospectus expense ratio is 0.15% a year.

Questions people ask

Which returned more over the last year, RAVI or TFLO?
In the year to Oct 20, 2026, with distributions reinvested, RAVI returned +3.8% and TFLO +4.0%.
Which is cheaper, RAVI or TFLO?
TFLO is cheaper, by 0.10 percentage points a year. That is about $10 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
RAVI vs TBILFTSM vs RAVIGBIL vs RAVIRAVI vs VUSBTFLO vs YEARTFLO vs VGUSBILZ vs TFLODUSB vs TFLO
RAVI on its own →TFLO on its own →Hold both: look the portfolio through →Rankings →RAVI dividend history →RAVI holdings →TFLO dividend history →TFLO holdings →Standards and sources →
Where these figures came from
RAVI filings on SEC EDGAR ↗RAVI prospectus with the expense ratio (SEC) ↗Northern Trust website ↗TFLO filings on SEC EDGAR ↗TFLO prospectus with the expense ratio (SEC) ↗iShares page for TFLO ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, RAVI against TFLO, data as of Oct 20, 2026. https://etfiq.com/compare/any/ravi-vs-tflo

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.