Dividend comparison

USFR vs FDLXX: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for WisdomTree Floating Rate Treasury Fund and Fidelity Treasury Only Money Markey Fund, side by side. Updated October 21, 2026.

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USFR vs FDLXX: key differences
The short answer, from the latest data on this page.
  • Income. USFR pays more income, yielding 3.72% over the last twelve months versus 3.38% for FDLXX. That is about $34 more a year on $10,000. USFR pays monthly, FDLXX pays annual.
  • Risk. Their worst declines over the last 5 years were similar: -0.4% for USFR and 0.0% for FDLXX from peak to trough.
  • Dividend growth. FDLXX grew its yearly payout 327.9% a year over the last 4 years, versus 318.5% for USFR.

Bottom line: USFR fits better if you care most about more income today. FDLXX fits better if you care most about faster dividend growth.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricUSFR
WisdomTree Floating Rate Treasury Fund
FDLXX
Fidelity Treasury Only Money Markey Fund
Dividend yield (TTM)3.72%3.38%
Dividend / share (TTM)$1.88$0.03
Payout frequencyMonthlyAnnual
Last dividend$0.1582 on Sep 29, 2026$0.0028 on Oct 1, 2026
Ex-dividend dateSep 25, 2026Sep 30, 2026
Dividend growth (CAGR)318.5% over 4 yrs327.9% over 4 yrs
Price$50.50$1.00
Beta-0.020.00
Max drawdown (5Y)-0.4%0.0%
Market cap$17.79B—
ExchangeAMEXNASDAQ
Expense ratio0.15%—
Assets under management$21.25B—
Number of holdings6—
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

USFR

$31.00/mo

$372 /yr at 3.72% yield

FDLXX

$28.16/mo

$338 /yr at 3.38% yield

Dividend history
Total dividends paid per share in each calendar year. USFR pays monthly; FDLXX pays annual.
YearUSFRFDLXX
2025$2.0860$0.0389
2024$2.5996$0.0486
2023$2.5718$0.0443
2022$0.8956$0.0095
2021$0.0068$0.0001
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.

What USFR vs FDLXX actually do

USFR
A WisdomTree fund holding US Treasury floating rate notes rather than fixed-rate bills.

Treasury FRNs are two-year securities whose coupon resets weekly against the 13-week Treasury bill auction, so the fund's income adjusts to rate changes through the coupon itself instead of by rolling into new bills. In practice that makes it respond to a rate move slightly faster than a bill ladder does. The trade-off is a smaller, less liquid corner of the Treasury market and a modest amount of price movement that a portfolio of near-maturity bills does not have.

Suits a cash holder who wants income that resets quickly and is comfortable with a less mainstream instrument. Offers no advantage over a plain bill fund once short rates stop moving, and it is not a place to seek return.

Capital preservation

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Jun 22, 2026 would now be worth $10,136 in USFR and $10,000 in FDLXX.
PeriodUSFRFDLXX
1 month0.34%0.00%
3 months1.02%0.00%
Year to date3.17%—
1 year4.04%—
3 years13.30%—
5 years20.38%—
  • USFR
  • FDLXX
1001011012026101100

Both series indexed to 100 on 2026-06-22 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.
  • USFR
  • FDLXX
0%25%50%75%100%Cash & Others100.0%

Quick verdict

USFR fits better if you care most about more income today. FDLXX fits better if you care most about faster dividend growth. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is USFR or FDLXX better for dividend income?
It depends on your goals. USFR currently yields 3.72% Trailing Twelve Months (TTM) while FDLXX yields 3.38%. 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 USFR and FDLXX?
WisdomTree Floating Rate Treasury Fund (USFR) is an ETF listed on AMEX. Fidelity Treasury Only Money Markey Fund (FDLXX) is an ETF listed on NASDAQ. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is riskier, USFR or FDLXX?
Measured by the worst peak-to-trough decline over the last five years, USFR has been riskier: USFR fell as much as 0.4% and FDLXX as much as 0.0%. Their betas are -0.02 and 0.00.
How often do USFR and FDLXX pay dividends?
USFR pays monthly and FDLXX pays annual.
How much income does $10,000 in USFR vs FDLXX generate?
At current TTM yields, $10,000 in USFR would generate roughly $31.00 per month ($372 annually). The same amount in FDLXX would produce about $28.16 per month ($338 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both USFR and FDLXX?
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 USFR vs FDLXX with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how USFR and FDLXX 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.