Other floating rate bond ETFs include the SPDR Barclays Investment Grade Floating Rate (NYSEArca: FLRN) and Market Vectors Investment Grade Floating Rate (NYSEArca: FLTR).

FLRN and FLTR are much smaller, with $354.9 million and $97.5 million in assets, respectively, compared to FLOT, which has $3.7 billion in assets. However, FLRN and FLTR are cheaper than the iShares offering. FLRN has a 0.15% expense ratio and FLTR has a 0.19% expense ratio, compared to FLOT’s 0.20% expense ratio.

FLRN shows a modified duration of 0.12 years and comes with a 0.37% 30-day SEC yield. FLTR has a modified duration of 0.16 years and a 0.45% 30-day SEC yield.

For more information on bonds, visit our bond ETFs category.

Max Chen contributed to this article.