PAYHvsTFLOETF Comparison
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TrueShares S&P Autocallable High Income ETF (PAYH) belongs to the Options Strategies segment. iShares Treasury Floating Rate Bond ETF (TFLO) is part of the US Government Bonds segment. Both ETFs have the same top 2 sector exposures: Sovereign and Non-Corporate. PAYH is more expensive with a Total Expense Ratio (TER) of 0.74%, versus 0.15% for TFLO. PAYH is up 10.82% year-to-date (YTD) with +$25M in YTD flows. TFLO performs worse with 2.54% YTD performance, and +$182M in YTD flows. Run a side-by-side ETF comparison of PAYH and TFLO below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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PAYH vs TFLO performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/31/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PAYH TFLO | +2.92%+0.32% | +1.73%+0.97% | +10.82%+2.54% | n/a+3.92% | n/a+14.56% | n/a+20.67% |
| Flows | PAYH TFLO | +$2M+$10M | -$261K+$61M | +$25M+$182M | --$50M | --$3.53B | -+$6.35B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PAYH TFLO | +14.32%+0.15% | n/a+0.16% | n/a+0.20% | n/a+0.21% |
| Max drawdown | PAYH TFLO | -4.74%n/a | n/an/a | n/an/a | n/a-0.03% |
| Max drawdown duration | PAYH TFLO | 19dn/a | n/an/a | n/an/a | n/a146d |
Trading data
PAYH | TFLO | |
Last sale 9/1/2026 at 1:30 PM | $24.38 | $50.51 |
| Previous close 08/31/2026 | $25.37 | $50.65 |
| Consolidated volume 08/31/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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PAYH
is actively managed and doesn’t replicate an indexPAYH | TFLO | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/1/2026 at 1:30 PM
Live
Closed
PAYH | TFLO | |
|---|---|---|
| Last price | $24.38 | $50.51 |
| 1D performance | -3.90% | -0.28% |
| AuM | $28.68 M | $6.67 B |
| E/R | 0.74% | 0.15% |
Characteristics
PAYH | TFLO | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | TrueShares | iShares |
| Benchmark | - | Bloomberg U.S. Treasury Floating Rate Index |
| N° of holdings | 3 | 10 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 29, 2025 | February 3, 2014 |
| ESG | No | No |
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Exposure
Countries
PAYH
USA
90.09%
Other
9.91%
TFLO
USA
106.95%
Other
-6.95%
Sectors
PAYH
Sovereign
88.59%
Other
11.41%
TFLO
Sovereign
106.91%
Other
-6.91%
Diversification
PAYH
Total weight of top 3 holdings out of 3
90.09%
TFLO
Total weight of top 10 holdings out of 10
106.95%
Top 15 holdings
Data as of July 31, 2026
PAYH
USA, Bills 0% 11aug2026, USD (119D)
44.38%
USA, Bills 0% 17sep2026, USD (182D)
44.21%
State Street Institutional US Government Money Market Fund
1.50%
TFLO
USA, Notes FRN 30apr2028, USD (BB-2028)
14.50%
USA, Notes FRN 30apr2027, USD (BB-2027)
13.68%
USA, Notes FRN 31jan2027, USD (AX-2027)
13.59%
USA, Notes FRN 31oct2027, USD (BK-2027)
13.51%
USA, Notes FRN 31jan2028, USD (AX-2028)
13.05%
USA, Notes FRN 31jul2027, USD (BF-2027)
12.96%
USA, Notes FRN 31oct2026, USD (BK-2026)
12.96%
USA, Notes FRN 31jul2026, USD (BF-2026)
6.40%
USA, Notes FRN 31jul2028, USD (BF-2028)
6.27%
BlackRock Cash Funds - Treasury
0.04%
Frequently asked questions about PAYH and TFLO
How have the PAYH and TFLO ETFs performed in 2026?
As of August 31, 2026, PAYH is up 10.82% year-to-date (YTD), while TFLO has returned 2.54%. That puts PAYH better performer ahead so far this year.
Which ETF is attracting more investor money: PAYH or TFLO?
Year-to-date, the PAYH ETF saw +$25M in flows, compared to +$182M for TFLO.
Which ETF is bigger: PAYH or TFLO?
As of August 31, 2026, PAYH holds $28.68 M in assets under management (AUM), while TFLO manages $6.67 B.
What sectors do the PAYH and TFLO ETFs invest in?
PAYH leans toward sectors like Sovereign. Meanwhile, TFLO focuses on Sovereign.
What are the top holdings of the PAYH ETF and TFLO ETF?
PAYH top holdings include USA, Bills 0% 11aug2026, USD (119D), USA, Bills 0% 17sep2026, USD (182D) and State Street Institutional US Government Money Market Fund. TFLO holds in its top three: USA, Notes FRN 30apr2028, USD (BB-2028), USA, Notes FRN 30apr2027, USD (BB-2027) and USA, Notes FRN 31jan2027, USD (AX-2027).
Which ETF is more diversified: PAYH or TFLO?
PAYH has 3 securities and TFLO has 10 securities.
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Latest news about PAYH & TFLO
The New Interest Rate Regime of 2024: Which Fixed Income ETFs Stand to Benefit?
February 14, 2024
TFLO
Higher Interest Rates for Longer: The Case for Floating Rate Bond ETFs
October 13, 2023
TFLO
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