Subject: Re: Bonds
testfol.io says ending values for $10,000 invested on 2/4/2014 are:
TFLO $12,292
USFR $12,293
FLRN $13,156

0-ish duration bonds ate not for yield but for preserving principal. Interest is just a bonus.
FLRN yields higher because it also has corporates unlike TFLO and USFR. So some non-zero default risk, especially since companies issuing floaters don't have the best credit ratings (otherwise they would just issue 30-year fixed). (I will avoid politics here and say let's stipulate for the purposes of this thread tgat US government debt has zero default risk.)
Secondarily, state taxes on the corporate portion of the interest.