CUSD vs. TBLL

Last updated Jun 5, 2026

CUSD (CrossingBridge Ultra-Short Duration ETF) and TBLL (Invesco Short Term Treasury ETF) are both Ultrashort Bond funds. CUSD is actively managed, while TBLL is passively managed. Over the past 3 years, CUSD returned 4.69%/yr vs 4.65%/yr for TBLL. At a 0.01 correlation, their price movements are largely independent. CUSD charges 0.81%/yr vs 0.08%/yr for TBLL.

Performance

CUSD vs. TBLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CrossingBridge Ultra-Short Duration ETF (CUSD) and Invesco Short Term Treasury ETF (TBLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with CUSD having a 1.42% return and TBLL slightly higher at 1.45%.

CUSD

• 1D: 0.00%
• 1M: -1.05%
• YTD: 1.42%
• 6M: 1.62%
• 1Y: 3.36%
• 3Y*: 4.69%
• 5Y*: —
• 10Y*: —

TBLL

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.45%
• 6M: 1.74%
• 1Y: 3.92%
• 3Y*: 4.65%
• 5Y*: 3.35%
• 10Y*: —

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

CUSD vs. TBLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CUSD CrossingBridge Ultra-Short Duration ETF	1.42%	5.02%	4.57%	6.05%	2.03%	2.40%
TBLL Invesco Short Term Treasury ETF	1.45%	4.21%	5.11%	5.01%	1.11%	-0.03%

Correlation

The correlation between CUSD and TBLL is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021	0.01

The correlation between CUSD and TBLL shifts across timeframes, from -0.12 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CUSD vs. TBLL — Risk / Return Rank

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

CUSD

CUSD Risk / Return Rank: 15
CUSD Sharpe Ratio Rank: 13
CUSD Sortino Ratio Rank: 13
CUSD Omega Ratio Rank: 14
CUSD Calmar Ratio Rank: 17
CUSD Martin Ratio Rank: 17

TBLL

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

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.

CUSD vs. TBLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CrossingBridge Ultra-Short Duration ETF (CUSD) and Invesco Short Term Treasury ETF (TBLL). 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.

	CUSD	TBLL	Difference
Sharpe ratio: Return per unit of total volatility	0.25	20.91	-20.66
Sortino ratio: Return per unit of downside risk	0.48	217.51	-217.03
Omega ratio: Gain probability vs. loss probability	1.07	102.54	-101.47
Calmar ratio: Return relative to maximum drawdown	0.62	415.28	-414.65
Martin ratio: Return relative to average drawdown	1.63	3,519.84	-3,518.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CUSD vs. TBLL - Sharpe Ratio Comparison

The current CUSD Sharpe Ratio is 0.25, which is lower than the TBLL Sharpe Ratio of 20.91. The chart below compares the historical Sharpe Ratios of CUSD and TBLL, 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

	CUSD	TBLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.25	20.91	-20.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	7.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	4.26	-3.61

Drawdowns

CUSD vs. TBLL - Drawdown Comparison

The maximum CUSD drawdown since its inception was -5.42%, which is greater than TBLL's maximum drawdown of -0.63%. Use the drawdown chart below to compare losses from any high point for CUSD and TBLL.

Drawdown Indicators

	CUSD	TBLL	Difference
Max Drawdown Largest peak-to-trough decline	-5.42%	-0.63%	-4.79%
Max Drawdown (1Y) Largest decline over 1 year	-5.42%	-0.01%	-5.41%
Max Drawdown (3Y) Largest decline over 3 years	-5.42%	-0.36%	-5.06%
Max Drawdown (5Y) Largest decline over 5 years	—	-0.36%	—
Current Drawdown Current decline from peak	-2.75%	0.00%	-2.75%
Average Drawdown Average peak-to-trough decline	-0.46%	-0.14%	-0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	0.00%	+2.06%

Volatility

CUSD vs. TBLL - Volatility Comparison

CrossingBridge Ultra-Short Duration ETF (CUSD) has a higher volatility of 4.32% compared to Invesco Short Term Treasury ETF (TBLL) at 0.05%. This indicates that CUSD's price experiences larger fluctuations and is considered to be riskier than TBLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CUSD	TBLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.32%	0.05%	+4.27%
Volatility (6M) Calculated over the trailing 6-month period	10.95%	0.12%	+10.83%
Volatility (1Y) Calculated over the trailing 1-year period	13.67%	0.19%	+13.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.02%	0.45%	+6.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.02%	0.56%	+6.46%

CUSD vs. TBLL - Expense Ratio Comparison

CUSD has a 0.81% expense ratio, which is higher than TBLL's 0.08% expense ratio.

Dividends

CUSD vs. TBLL - Dividend Comparison

CUSD's dividend yield for the trailing twelve months is around 13.85%, more than TBLL's 3.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CUSD CrossingBridge Ultra-Short Duration ETF	13.85%	14.05%	7.10%	3.62%	1.14%	0.00%	0.00%	0.00%	0.00%	0.00%
TBLL Invesco Short Term Treasury ETF	3.81%	4.08%	4.99%	4.63%	1.37%	0.03%	0.80%	2.08%	1.69%	0.71%

Frequently Asked Questions

Can I hold both CUSD and TBLL in my portfolio?

CUSD and TBLL have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CUSD or TBLL?

CUSD has higher volatility (4.32%) compared to TBLL (0.05%). In terms of maximum drawdown, CUSD dropped -5.42% vs TBLL's -0.63%.

Which ETF is better, CUSD or TBLL?

On 3-year performance, CUSD leads with 4.69% vs 4.65% for TBLL. On fees, TBLL is cheaper at 0.08% per year. On volatility, TBLL has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CUSD or TBLL?

Over the 3-year period, CUSD has performed better with a 4.69% return vs 4.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CUSD or TBLL?

TBLL is cheaper with a 0.08% expense ratio, compared with 0.81% for CUSD.

Which ETF pays a higher dividend yield, CUSD or TBLL?

CUSD has the higher dividend yield at 13.85%, compared with 3.81% for TBLL.

What is the main difference between CUSD and TBLL?

They also come from different issuers: CrossingBridge and Invesco. Their fees differ too: 0.81% for CUSD and 0.08% for TBLL.

Which has better risk-adjusted returns?

TBLL currently has the higher Sharpe Ratio (20.91 vs 0.25), 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.