CLIP vs. VUSB

Last updated Jun 4, 2026

CLIP (Global X 1-3 Month T-Bill ETF) and VUSB (Vanguard Ultra-Short Bond ETF) are both Ultrashort Bond funds. CLIP is passively managed, while VUSB is actively managed. Over the past year, CLIP returned 3.96% vs 4.59% for VUSB. At a 0.09 correlation, their price movements are largely independent. CLIP charges 0.07%/yr vs 0.10%/yr for VUSB.

Performance

CLIP vs. VUSB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X 1-3 Month T-Bill ETF (CLIP) and Vanguard Ultra-Short Bond ETF (VUSB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLIP achieves a 1.50% return, which is significantly higher than VUSB's 1.39% return.

CLIP

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.50%
• 6M: 1.82%
• 1Y: 3.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VUSB

• 1D: -0.02%
• 1M: 0.40%
• YTD: 1.39%
• 6M: 1.76%
• 1Y: 4.59%
• 3Y*: 5.34%
• 5Y*: 3.43%
• 10Y*: —

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

CLIP vs. VUSB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CLIP Global X 1-3 Month T-Bill ETF	1.50%	4.23%	5.26%	2.82%
VUSB Vanguard Ultra-Short Bond ETF	1.39%	5.20%	5.68%	3.55%

Correlation

The correlation between CLIP and VUSB is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.09

Return for Risk

CLIP vs. VUSB — Risk / Return Rank

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

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP Martin Ratio Rank: 100

VUSB

VUSB Risk / Return Rank: 98
VUSB Sharpe Ratio Rank: 99
VUSB Sortino Ratio Rank: 99
VUSB Omega Ratio Rank: 99
VUSB Calmar Ratio Rank: 97
VUSB Martin Ratio Rank: 98

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.

CLIP vs. VUSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X 1-3 Month T-Bill ETF (CLIP) and Vanguard Ultra-Short Bond ETF (VUSB). 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.

	CLIP	VUSB	Difference
Sharpe ratio: Return per unit of total volatility	17.26	7.10	+10.16
Sortino ratio: Return per unit of downside risk	72.02	13.16	+58.86
Omega ratio: Gain probability vs. loss probability	20.66	3.44	+17.23
Calmar ratio: Return relative to maximum drawdown	142.22	12.43	+129.79
Martin ratio: Return relative to average drawdown	1,151.15	71.97	+1,079.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLIP vs. VUSB - Sharpe Ratio Comparison

The current CLIP Sharpe Ratio is 17.26, which is higher than the VUSB Sharpe Ratio of 7.10. The chart below compares the historical Sharpe Ratios of CLIP and VUSB, 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

	CLIP	VUSB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	17.26	7.10	+10.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	4.14	—
Sharpe Ratio (All Time) Calculated using the full available price history	10.71	4.09	+6.62

Drawdowns

CLIP vs. VUSB - Drawdown Comparison

The maximum CLIP drawdown since its inception was -0.08%, smaller than the maximum VUSB drawdown of -1.79%. Use the drawdown chart below to compare losses from any high point for CLIP and VUSB.

Drawdown Indicators

	CLIP	VUSB	Difference
Max Drawdown Largest peak-to-trough decline	-0.08%	-1.79%	+1.71%
Max Drawdown (1Y) Largest decline over 1 year	-0.03%	-0.37%	+0.34%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-1.79%	—
Current Drawdown Current decline from peak	0.00%	-0.02%	+0.02%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.27%	+0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.06%	-0.06%

Volatility

CLIP vs. VUSB - Volatility Comparison

The current volatility for Global X 1-3 Month T-Bill ETF (CLIP) is 0.06%, while Vanguard Ultra-Short Bond ETF (VUSB) has a volatility of 0.18%. This indicates that CLIP experiences smaller price fluctuations and is considered to be less risky than VUSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLIP	VUSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	0.18%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	0.14%	0.52%	-0.38%
Volatility (1Y) Calculated over the trailing 1-year period	0.23%	0.65%	-0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.44%	0.83%	-0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.44%	0.82%	-0.38%

CLIP vs. VUSB - Expense Ratio Comparison

CLIP has a 0.07% expense ratio, which is lower than VUSB's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CLIP vs. VUSB - Dividend Comparison

CLIP's dividend yield for the trailing twelve months is around 3.91%, less than VUSB's 4.39% yield.

Position	TTM	2025	2024	2023	2022	2021
CLIP Global X 1-3 Month T-Bill ETF	3.91%	4.14%	5.11%	2.75%	0.00%	0.00%
VUSB Vanguard Ultra-Short Bond ETF	4.39%	4.63%	5.16%	4.45%	1.56%	0.26%

Frequently Asked Questions

Can I hold both CLIP and VUSB in my portfolio?

CLIP and VUSB have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLIP or VUSB?

VUSB has higher volatility (0.18%) compared to CLIP (0.06%). In terms of maximum drawdown, CLIP dropped -0.08% vs VUSB's -1.79%.

Which ETF is better, CLIP or VUSB?

On 1-year performance, VUSB leads with 4.59% vs 3.96% for CLIP. On fees, CLIP is cheaper at 0.07% per year. On volatility, CLIP has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLIP or VUSB?

Over the 1-year period, VUSB has performed better with a 4.59% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLIP or VUSB?

CLIP is cheaper with a 0.07% expense ratio, compared with 0.10% for VUSB.

Which ETF pays a higher dividend yield, CLIP or VUSB?

VUSB has the higher dividend yield at 4.39%, compared with 3.91% for CLIP.

What is the main difference between CLIP and VUSB?

They also come from different issuers: Global X and Vanguard. Their fees differ too: 0.07% for CLIP and 0.10% for VUSB.

Which has better risk-adjusted returns?

CLIP currently has the higher Sharpe Ratio (17.26 vs 7.10), 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.