CCSB vs. USTB

Last updated Jun 3, 2026

CCSB (Carbon Collective Short Duration Green Bond ETF) and USTB (VictoryShares Short-Term Bond ETF) are both Short-Term Bond funds. CCSB is actively managed, while USTB is passively managed. Over the past year, CCSB returned 3.04% vs 4.79% for USTB. A 0.51 correlation means they provide meaningful diversification when combined. CCSB charges 0.51%/yr vs 0.34%/yr for USTB.

Performance

CCSB vs. USTB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Carbon Collective Short Duration Green Bond ETF (CCSB) and VictoryShares Short-Term Bond ETF (USTB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CCSB achieves a 1.07% return, which is significantly lower than USTB's 1.23% return.

CCSB

• 1D: 0.10%
• 1M: 0.39%
• YTD: 1.07%
• 6M: 1.22%
• 1Y: 3.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USTB

• 1D: 0.04%
• 1M: 0.28%
• YTD: 1.23%
• 6M: 1.66%
• 1Y: 4.79%
• 3Y*: 6.14%
• 5Y*: 3.52%
• 10Y*: —

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

CCSB vs. USTB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CCSB Carbon Collective Short Duration Green Bond ETF	1.07%	4.37%	4.17%
USTB VictoryShares Short-Term Bond ETF	1.23%	6.08%	5.23%

Correlation

The correlation between CCSB and USTB is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (All Time) Calculated using the full available price history since Apr 15, 2024	0.51

The correlation between CCSB and USTB has been stable across timeframes, ranging from 0.51 to 0.56 - a consistent structural relationship.

Return for Risk

CCSB vs. USTB — Risk / Return Rank

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

CCSB

CCSB Risk / Return Rank: 13
CCSB Sharpe Ratio Rank: 11
CCSB Sortino Ratio Rank: 11
CCSB Omega Ratio Rank: 22
CCSB Calmar Ratio Rank: 11
CCSB Martin Ratio Rank: 10

USTB

USTB Risk / Return Rank: 94
USTB Sharpe Ratio Rank: 95
USTB Sortino Ratio Rank: 98
USTB Omega Ratio Rank: 97
USTB Calmar Ratio Rank: 89
USTB Martin Ratio Rank: 92

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.

CCSB vs. USTB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Carbon Collective Short Duration Green Bond ETF (CCSB) and VictoryShares Short-Term Bond ETF (USTB). 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.

	CCSB	USTB	Difference
Sharpe ratio Return per unit of total volatility	0.16	3.96	-3.80
Sortino ratio Return per unit of downside risk	0.38	6.76	-6.38
Omega ratio Gain probability vs. loss probability	1.15	1.89	-0.74
Calmar ratio Return relative to maximum drawdown	0.22	5.28	-5.07
Martin ratio Return relative to average drawdown	0.31	24.05	-23.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CCSB vs. USTB - Sharpe Ratio Comparison

The current CCSB Sharpe Ratio is 0.16, which is lower than the USTB Sharpe Ratio of 3.96. The chart below compares the historical Sharpe Ratios of CCSB and USTB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CCSB	USTB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	3.96	-3.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	1.73	-1.40

Drawdowns

CCSB vs. USTB - Drawdown Comparison

The maximum CCSB drawdown since its inception was -14.95%, which is greater than USTB's maximum drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for CCSB and USTB.

Drawdown Indicators

	CCSB	USTB	Difference
Max Drawdown Largest peak-to-trough decline	-14.95%	-5.32%	-9.63%
Max Drawdown (1Y) Largest decline over 1 year	-14.95%	-0.84%	-14.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-4.96%	—
Current Drawdown Current decline from peak	-11.29%	0.00%	-11.29%
Average Drawdown Average peak-to-trough decline	-4.34%	-0.66%	-3.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.32%	0.19%	+10.13%

Volatility

CCSB vs. USTB - Volatility Comparison

Carbon Collective Short Duration Green Bond ETF (CCSB) has a higher volatility of 1.08% compared to VictoryShares Short-Term Bond ETF (USTB) at 0.34%. This indicates that CCSB's price experiences larger fluctuations and is considered to be riskier than USTB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CCSB	USTB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	0.34%	+0.74%
Volatility (6M) Calculated over the trailing 6-month period	5.20%	0.84%	+4.36%
Volatility (1Y) Calculated over the trailing 1-year period	19.20%	1.26%	+17.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.44%	2.01%	+11.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.44%	2.01%	+11.43%

CCSB vs. USTB - Expense Ratio Comparison

CCSB has a 0.51% expense ratio, which is higher than USTB's 0.34% expense ratio.

Dividends

CCSB vs. USTB - Dividend Comparison

CCSB's dividend yield for the trailing twelve months is around 4.61%, which matches USTB's 4.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CCSB Carbon Collective Short Duration Green Bond ETF	4.61%	4.79%	3.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USTB VictoryShares Short-Term Bond ETF	4.58%	4.62%	5.05%	4.49%	2.54%	1.84%	2.59%	2.69%	2.32%	0.43%

Frequently Asked Questions

Can I hold both CCSB and USTB in my portfolio?

CCSB and USTB have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CCSB or USTB?

CCSB has higher volatility (1.08%) compared to USTB (0.34%). In terms of maximum drawdown, CCSB dropped -14.95% vs USTB's -5.32%.

Which ETF is better, CCSB or USTB?

On 1-year performance, USTB leads with 4.79% vs 3.04% for CCSB. On fees, USTB is cheaper at 0.34% per year. On volatility, USTB has been the lower-risk option at 0.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CCSB or USTB?

Over the 1-year period, USTB has performed better with a 4.79% return vs 3.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CCSB or USTB?

USTB is cheaper with a 0.34% expense ratio, compared with 0.51% for CCSB.

Which ETF pays a higher dividend yield, CCSB or USTB?

CCSB has the higher dividend yield at 4.61%, compared with 4.58% for USTB.

What is the main difference between CCSB and USTB?

They also come from different issuers: Carbon Collective and Victory. Their fees differ too: 0.51% for CCSB and 0.34% for USTB.

Which has better risk-adjusted returns?

USTB currently has the higher Sharpe Ratio (3.96 vs 0.16), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.