ARMGX vs. BUSIX

Last updated Jun 4, 2026

ARMGX (Western Asset Ultra-Short Income Fund) and BUSIX (Sterling Capital Ultra Short Bond Fund) are both Ultrashort Bond funds. At a 0.31 correlation, their price movements are largely independent. ARMGX charges 1.32%/yr vs 0.27%/yr for BUSIX.

Performance

ARMGX vs. BUSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Western Asset Ultra-Short Income Fund (ARMGX) and Sterling Capital Ultra Short Bond Fund (BUSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ARMGX

• 1D: 0.00%
• 1M: 0.38%
• YTD: 1.18%
• 6M: 1.57%
• 1Y: 3.82%
• 3Y*: 4.42%
• 5Y*: 2.66%
• 10Y*: 2.24%

BUSIX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARMGX vs. BUSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARMGX Western Asset Ultra-Short Income Fund	1.18%	4.20%	4.67%	5.25%	-1.91%	0.06%	0.80%	3.38%	0.91%	3.09%
BUSIX Sterling Capital Ultra Short Bond Fund	0.83%	4.93%	5.87%	5.09%	0.32%	0.31%	2.16%	3.27%	1.66%	1.37%

Correlation

The correlation between ARMGX and BUSIX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.31

Return for Risk

ARMGX vs. BUSIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARMGX

ARMGX Risk / Return Rank: 98
ARMGX Sharpe Ratio Rank: 93
ARMGX Sortino Ratio Rank: 98
ARMGX Omega Ratio Rank: 99
ARMGX Calmar Ratio Rank: 99
ARMGX Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARMGX vs. BUSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Western Asset Ultra-Short Income Fund (ARMGX) and Sterling Capital Ultra Short Bond Fund (BUSIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ARMGX	BUSIX	Difference
Sharpe ratio: Return per unit of total volatility	3.22	—	—
Sortino ratio: Return per unit of downside risk	7.55	—	—
Omega ratio: Gain probability vs. loss probability	2.64	—	—
Calmar ratio: Return relative to maximum drawdown	11.77	—	—
Martin ratio: Return relative to average drawdown	53.56	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ARMGX	BUSIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.22	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.12	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	—	—

Drawdowns

Drawdown Indicators

	ARMGX	BUSIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.79%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-0.33%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-0.55%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-3.23%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-9.09%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-1.53%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.07%	—	—

Volatility

Volatility by Period

	ARMGX	BUSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.40%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.87%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.19%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.26%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.62%	—	—

ARMGX vs. BUSIX - Expense Ratio Comparison

ARMGX has a 1.32% expense ratio, which is higher than BUSIX's 0.27% expense ratio.

Dividends

ARMGX vs. BUSIX - Dividend Comparison

ARMGX's dividend yield for the trailing twelve months is around 2.86%, less than BUSIX's 3.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARMGX Western Asset Ultra-Short Income Fund	2.86%	3.00%	2.43%	2.23%	1.37%	0.17%	1.45%	2.32%	1.92%	1.37%	0.96%	0.48%
BUSIX Sterling Capital Ultra Short Bond Fund	3.19%	4.29%	4.65%	3.48%	1.87%	1.24%	1.72%	2.60%	2.05%	1.57%	1.74%	1.36%

Frequently Asked Questions

Can I hold both ARMGX and BUSIX in my portfolio?

ARMGX and BUSIX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.