Someday this will probably be a good investment but this is not the time. The 10 year bond should be at around 5% and will get there eventually. Then there is the question of short-term interest rates, something that the central bank can control even more. We have a long time to go before they start jacking up short-term interest rates.
Although it’s called “floating-rate”, it is not much of a floating-rate fund. Most of the bonds in it are not floating-rate because there aren’t many floating-rate bonds that are worth buying right now because they all earn about zero percent. This one earns about 1.3% per annum and that is probably what it is going to earn henceforth. 80% of the fund is in 2 to 5 year fixed rate bonds. Very low MER. Better than cash and very safe.
iShares Floating Rate Bond ETF is a American stock, trading under the symbol FLOT-N on the BATS Global Markets (FLOT). It is usually referred to as AMEX:FLOT or FLOT-N
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On 2024-11-21, iShares Floating Rate Bond ETF (FLOT-N) stock closed at a price of $51.015.