- CUSIP
- 87283Q701
- Issuer
- T. Rowe Price
- Inception Date
- Sep 28, 2021
- Category
- Ultrashort Bond
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $1B
Share Price Chart
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Performance
TBUX Performance Chart
T. Rowe Price Ultra Short-Term Bond ETF (TBUX) is up 1.8% since the beginning of the year. TBUX is currently trading at $50 per share.
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Returns By Period
T. Rowe Price Ultra Short-Term Bond ETF (TBUX) has returned 1.79% so far this year and 4.64% over the past 12 months.
T. Rowe Price Ultra Short-Term Bond ETF
- 1D
- -0.04%
- 1M
- 0.27%
- YTD
- 1.79%
- 6M
- 1.95%
- 1Y
- 4.64%
- 3Y*
- 5.82%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
TBUX Monthly Returns History
Based on dividend-adjusted daily data since Sep 29, 2021, TBUX's average daily return is +0.02%, while the average monthly return is +0.33%. At this rate, an investment would double in approximately 17.5 years.
Historically, 81% of months were positive and 19% were negative. The best month was Dec 2023 with a return of +0.9%, while the worst month was Mar 2022 at -0.5%. The longest winning streak lasted 44 consecutive months, and the longest losing streak was 8 months.
On a daily basis, TBUX closed higher 59% of trading days. The best single day was Sep 3, 2024 with a return of +0.3%, while the worst single day was Sep 4, 2024 at -0.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.38% | 0.30% | 0.15% | 0.40% | 0.39% | 0.16% | 1.79% | ||||||
| 2025 | 0.52% | 0.53% | 0.26% | 0.38% | 0.48% | 0.50% | 0.38% | 0.47% | 0.50% | 0.37% | 0.36% | 0.51% | 5.37% |
| 2024 | 0.74% | 0.41% | 0.47% | 0.37% | 0.64% | 0.49% | 0.71% | 0.73% | 0.59% | 0.22% | 0.55% | 0.28% | 6.38% |
| 2023 | 0.81% | 0.18% | 0.36% | 0.49% | 0.25% | 0.50% | 0.64% | 0.51% | 0.38% | 0.43% | 0.82% | 0.86% | 6.39% |
| 2022 | -0.11% | -0.21% | -0.53% | -0.30% | 0.11% | -0.43% | 0.24% | 0.17% | -0.20% | -0.16% | 0.70% | 0.61% | -0.13% |
| 2021 | -0.04% | -0.09% | -0.09% | -0.04% | -0.25% |
Benchmark Metrics
T. Rowe Price Ultra Short-Term Bond ETF has an annualized alpha of 4.05%, beta of 0.01, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since September 29, 2021.
- This ETF captured 8.72% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -6.02%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.01 may look defensive, but with R2 of 0.01 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.01 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 4.05%
- Beta
- 0.01
- R²
- 0.01
- Upside Capture
- 8.72%
- Downside Capture
- -6.02%
Expense Ratio
TBUX has an expense ratio of 0.17%, which is considered low.
Return for Risk
Risk / Return Rank
TBUX ranks 99 for risk / return — in the top 99% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Ultra Short-Term Bond ETF (TBUX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TBUX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.90 | ||
| Sortino ratioReturn per unit of downside risk | +10.75 | ||
| Omega ratioGain probability vs. loss probability | 2.97 | 1.37 | +1.60 |
| Calmar ratioReturn relative to maximum drawdown | 46.48 | 2.78 | +43.70 |
| Martin ratioReturn relative to average drawdown | 170.53 | 12.44 | +158.10 |
Dividends
Dividend History
T. Rowe Price Ultra Short-Term Bond ETF provided a 4.48% dividend yield over the last twelve months, with an annual payout of $2.23 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $2.23 | $2.33 | $2.67 | $2.29 | $1.25 | $0.13 |
Dividend yield | 4.48% | 4.67% | 5.39% | 4.66% | 2.58% | 0.27% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Ultra Short-Term Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.17 | $0.17 | $0.17 | $0.18 | $0.18 | $0.00 | $0.87 | ||||||
| 2025 | $0.20 | $0.19 | $0.19 | $0.19 | $0.19 | $0.19 | $0.19 | $0.19 | $0.19 | $0.18 | $0.18 | $0.24 | $2.33 |
| 2024 | $0.22 | $0.22 | $0.21 | $0.21 | $0.20 | $0.22 | $0.24 | $0.22 | $0.22 | $0.20 | $0.21 | $0.30 | $2.67 |
| 2023 | $0.14 | $0.16 | $0.17 | $0.17 | $0.18 | $0.18 | $0.14 | $0.21 | $0.21 | $0.22 | $0.22 | $0.29 | $2.29 |
| 2022 | $0.01 | $0.03 | $0.04 | $0.04 | $0.05 | $0.18 | $0.07 | $0.09 | $0.11 | $0.14 | $0.13 | $0.37 | $1.25 |
| 2021 | $0.02 | $0.03 | $0.08 | $0.13 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price Ultra Short-Term Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the T. Rowe Price Ultra Short-Term Bond ETF was 1.82%, occurring on Jun 28, 2022. Recovery took 137 trading sessions.
The current T. Rowe Price Ultra Short-Term Bond ETF drawdown is 0.07%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -1.82%Jun 2022 | 9mo 2d | 6mo 18d | 1y 3moSep 2021 - Jan 2023 |
2023 pullback2023 | -0.48%Mar 2023 | 2d | 18d | 20dMar 2023 - Apr 2023 |
2025 selloff2025 | -0.33%Apr 2025 | 3d | 14d | 17dApr 2025 - Apr 2025 |
2024 pullback2024 | -0.28%Sep 2024 | 0s | 9d | 9dSep 2024 - Sep 2024 |
2024 pullback2024 | -0.24%Apr 2024 | 0s | 13d | 13dApr 2024 - Apr 2024 |
Drawdown Indicators
| TBUX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.82% | -56.78% | +54.96% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -9.10% | +9.00% |
Max Drawdown (3Y)Largest decline over 3 years | -0.33% | -18.90% | +18.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.07% | -1.80% | +1.73% |
Average DrawdownAverage peak-to-trough decline | -0.28% | -10.71% | +10.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 2.03% | -2.00% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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