Why does implicit conversion from sql_variant (basetype decimal) not work well with float

Question

Why is ResultFloat = 0 in the query below?

Am I missing a point within the cast/convert, sql_variant docs?

declare
    @v sql_variant = convert(decimal(28,8), 20.0);

select sql_variant_property(@v, 'BaseType') as BaseType,         -- 'decimal',
       iif(convert(int, 10.0)     < @v, 1, 0) as ResultInt,      -- 1
       iif(convert(decimal, 10.0) < @v, 1, 0) as  ResultDecimal, -- 1
       iif(convert(float, 10.0)   < @v, 1, 0) as  ResultFloat,   -- 0 !
       iif(convert(float, 10.0)   < convert(float, @v), 1, 0) as  ResultFloatFloat,  -- 1              
       iif(convert(float, 10.0)   < convert(decimal(28,8), @v), 1, 0) as  ResultFloatDecimal;   -- 1

Sql Server 2012