Dividend comparison
TFLO vs SHV: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares Treasury Floating Rate Bond ETF and iShares Trust iShares 0-1 Year Treasury Bond ETF, side by side. Updated October 21, 2026.
TFLO vs SHV: key differences
The short answer, from the latest data on this page.
- Fees. Both charge about 0.15% a year, so cost is not what separates them.
- Income. Their trailing yields are almost the same: 3.73% for TFLO and 3.63% for SHV. Both pay monthly.
- Performance. Over the last 5 years, TFLO returned 17.7% versus 15.9% for SHV, with dividends reinvested. $10,000 would have grown to $11,775 in TFLO and $11,587 in SHV.
- Risk. Their worst declines over the last 5 years were similar: -0.6% for TFLO and -0.6% for SHV from peak to trough.
- Diversification. SHV holds 19 positions and TFLO holds 8.
- Dividend growth. TFLO grew its yearly payout 573.2% a year over the last 3 years, versus 43.5% for SHV.
- Size. SHV is the larger fund with $23.5 billion in assets, against $7.2 billion for TFLO.
Bottom line: TFLO fits better if you care most about faster dividend growth. SHV fits better if you care most about broader diversification.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | TFLO iShares Treasury Floating Rate Bond ETF | SHV iShares Trust iShares 0-1 Year Treasury Bond ETF |
|---|---|---|
| Dividend yield (TTM) | 3.73% | 3.63% |
| Dividend / share (TTM) | $1.89 | $4.00 |
| Payout frequency | Monthly | Monthly |
| Last dividend | $0.1596 on Oct 6, 2026 | $0.2991 on Oct 6, 2026 |
| Ex-dividend date | Oct 1, 2026 | Oct 1, 2026 |
| Dividend growth (CAGR) | 573.2% over 4 yrs | 43.5% over 3 yrs |
| Price | $50.62 | $110.26 |
| Beta | -0.02 | 0.01 |
| Max drawdown (5Y) | -0.6% | -0.6% |
| Market cap | $7.18B | $23.42B |
| Exchange | AMEX | NYSE |
| Expense ratio | 0.15% | 0.15% |
| Assets under management | $7.18B | $23.46B |
| Number of holdings | 8 | 19 |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
TFLO
$31.05/mo
$373 /yr at 3.73% yield
SHV
$30.27/mo
$363 /yr at 3.63% yield
Dividend history
Total dividends paid per share in each calendar year. TFLO pays monthly; SHV pays monthly.
| Year | TFLO | SHV |
|---|---|---|
| 2025 | $2.1013 | $4.5036 |
| 2024 | $2.6304 | $5.5326 |
| 2023 | $2.4648 | $5.2126 |
| 2022 | $0.8461 | $1.5226 |
| 2021 | $0.0010 | — |
Strategy: Cash equivalent
Funds holding short-dated US government paper, where the objective is that the principal is there when you need it. Yield follows short-term interest rates with a short lag rather than being locked in, so income falls when the central bank cuts and rises when it hikes. Because the underlying holdings are nearly identical across providers, the expense ratio comes almost directly out of what you receive.
There is no growth here by design, and purchasing power erodes whenever the after-tax yield sits below inflation.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $11,775 in TFLO and $11,587 in SHV.
| Period | TFLO | SHV |
|---|---|---|
| 1 month | 0.00% | 0.05% |
| 3 months | 0.06% | 0.01% |
| Year to date | 0.32% | 0.10% |
| 1 year | 0.84% | 0.56% |
| 3 years | 10.84% | 10.54% |
| 5 years | 17.75% | 15.87% |
- TFLO
- SHV
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- TFLO
- SHV
Quick verdict
TFLO fits better if you care most about faster dividend growth. SHV fits better if you care most about broader diversification. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
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Frequently asked questions
Is TFLO or SHV better for dividend income?
It depends on your goals. TFLO currently yields 3.73% Trailing Twelve Months (TTM) while SHV yields 3.63%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between TFLO and SHV?
iShares Treasury Floating Rate Bond ETF (TFLO) is an ETF listed on AMEX. iShares Trust iShares 0-1 Year Treasury Bond ETF (SHV) is an ETF listed on NYSE. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, TFLO or SHV?
They cost about the same: TFLO charges 0.15% a year and SHV charges 0.15%.
Which has performed better, TFLO or SHV?
Over the last 5 years, TFLO has the higher total return with dividends reinvested: TFLO returned 17.7% and SHV returned 15.9%. Past performance does not predict future returns.
Which is riskier, TFLO or SHV?
Measured by the worst peak-to-trough decline over the last five years, TFLO has been riskier: TFLO fell as much as 0.6% and SHV as much as 0.6%. Their betas are -0.02 and 0.01.
How often do TFLO and SHV pay dividends?
Both pay monthly. The most recent payments were $0.1596 for TFLO and $0.2991 for SHV.
How much income does $10,000 in TFLO vs SHV generate?
At current TTM yields, $10,000 in TFLO would generate roughly $31.05 per month ($373 annually). The same amount in SHV would produce about $30.27 per month ($363 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both TFLO and SHV?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare TFLO vs SHV with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how TFLO and SHV fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.