CVSB vs. SPTU

Last updated Jun 3, 2026

CVSB (Calvert Ultra-Short Investment Grade ETF) and SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) are both Ultrashort Bond funds. CVSB is actively managed, while SPTU is passively managed. At a 0.11 correlation, their price movements are largely independent. CVSB charges 0.24%/yr vs 0.05%/yr for SPTU.

Performance

CVSB vs. SPTU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Ultra-Short Investment Grade ETF (CVSB) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CVSB having a 1.49% return and SPTU slightly lower at 1.48%.

CVSB

• 1D: 0.05%
• 1M: 0.34%
• YTD: 1.49%
• 6M: 2.05%
• 1Y: 4.55%
• 3Y*: 5.54%
• 5Y*: —
• 10Y*: —

SPTU

• 1D: 0.02%
• 1M: 0.31%
• YTD: 1.48%
• 6M: 1.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CVSB vs. SPTU - Yearly Performance Comparison

	2026 (YTD)	2025
CVSB Calvert Ultra-Short Investment Grade ETF	1.49%	1.13%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.48%	0.92%

Correlation

The correlation between CVSB and SPTU is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025	0.11

Return for Risk

CVSB vs. SPTU — Risk / Return Rank

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

CVSB

CVSB Risk / Return Rank: 98
CVSB Sharpe Ratio Rank: 98
CVSB Sortino Ratio Rank: 98
CVSB Omega Ratio Rank: 98
CVSB Calmar Ratio Rank: 99
CVSB 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.

CVSB vs. SPTU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Ultra-Short Investment Grade ETF (CVSB) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). 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.

	CVSB	SPTU	Difference
Sharpe ratio Return per unit of total volatility	5.20	—	—
Sortino ratio Return per unit of downside risk	8.98	—	—
Omega ratio Gain probability vs. loss probability	2.41	—	—
Calmar ratio Return relative to maximum drawdown	20.15	—	—
Martin ratio Return relative to average drawdown	81.98	—	—
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

	CVSB	SPTU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.14	11.88	-7.74

Drawdowns

CVSB vs. SPTU - Drawdown Comparison

The maximum CVSB drawdown since its inception was -0.63%, which is greater than SPTU's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for CVSB and SPTU.

Drawdown Indicators

	CVSB	SPTU	Difference
Max Drawdown Largest peak-to-trough decline	-0.63%	-0.04%	-0.59%
Max Drawdown (1Y) Largest decline over 1 year	-0.23%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-0.63%	—	—
Current Drawdown Current decline from peak	-0.02%	0.00%	-0.02%
Average Drawdown Average peak-to-trough decline	-0.05%	-0.00%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	—	—

Volatility

Volatility by Period

	CVSB	SPTU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.16%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.54%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.88%	0.32%	+0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.32%	0.32%	+1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.32%	0.32%	+1.00%

CVSB vs. SPTU - Expense Ratio Comparison

CVSB has a 0.24% expense ratio, which is higher than SPTU's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CVSB vs. SPTU - Dividend Comparison

CVSB's dividend yield for the trailing twelve months is around 4.37%, more than SPTU's 2.36% yield.

Position	TTM	2025	2024	2023
CVSB Calvert Ultra-Short Investment Grade ETF	4.37%	4.72%	5.13%	4.95%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.36%	0.89%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CVSB and SPTU in my portfolio?

CVSB and SPTU have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CVSB or SPTU?

On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CVSB or SPTU?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.24% for CVSB.

Which ETF pays a higher dividend yield, CVSB or SPTU?

CVSB has the higher dividend yield at 4.37%, compared with 2.36% for SPTU.

What is the main difference between CVSB and SPTU?

They also come from different issuers: Calvert and State Street. Their fees differ too: 0.24% for CVSB and 0.05% for SPTU.