CVSB vs. TBLL
Compare and contrast key facts about Calvert Ultra-Short Investment Grade ETF (CVSB) and Invesco Short Term Treasury ETF (TBLL).
CVSB and TBLL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CVSB is an actively managed fund by Calvert. It was launched on Jan 30, 2023. TBLL is a passively managed fund by Invesco that tracks the performance of the ICE U.S. Treasury Short Bond Index. It was launched on Jan 10, 2017.
Performance
CVSB vs. TBLL - Performance Comparison
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CVSB vs. TBLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CVSB Calvert Ultra-Short Investment Grade ETF | 0.72% | 4.92% | 6.23% | 5.40% |
TBLL Invesco Short Term Treasury ETF | 0.81% | 4.21% | 5.11% | 4.64% |
Returns By Period
In the year-to-date period, CVSB achieves a 0.72% return, which is significantly lower than TBLL's 0.81% return.
CVSB
- 1D
- 0.04%
- 1M
- 0.04%
- YTD
- 0.72%
- 6M
- 1.97%
- 1Y
- 4.58%
- 3Y*
- 5.63%
- 5Y*
- —
- 10Y*
- —
TBLL
- 1D
- 0.01%
- 1M
- 0.25%
- YTD
- 0.81%
- 6M
- 1.81%
- 1Y
- 3.99%
- 3Y*
- 4.66%
- 5Y*
- 3.22%
- 10Y*
- —
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CVSB vs. TBLL - Expense Ratio Comparison
CVSB has a 0.24% expense ratio, which is higher than TBLL's 0.08% 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%.
Return for Risk
CVSB vs. TBLL — Risk / Return Rank
CVSB
TBLL
CVSB vs. TBLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calvert Ultra-Short Investment Grade ETF (CVSB) 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.
| CVSB | TBLL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 4.09 | 19.99 | -15.91 |
Sortino ratioReturn per unit of downside risk | 6.21 | 122.32 | -116.10 |
Omega ratioGain probability vs. loss probability | 2.09 | 52.75 | -50.66 |
Calmar ratioReturn relative to maximum drawdown | 9.64 | 105.93 | -96.29 |
Martin ratioReturn relative to average drawdown | 61.29 | 1,282.71 | -1,221.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CVSB | TBLL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.09 | 19.99 | -15.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 7.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 4.09 | 4.18 | -0.09 |
Correlation
The correlation between CVSB and TBLL is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
CVSB vs. TBLL - Dividend Comparison
CVSB's dividend yield for the trailing twelve months is around 4.49%, more than TBLL's 3.91% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVSB Calvert Ultra-Short Investment Grade ETF | 4.49% | 4.72% | 5.13% | 4.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TBLL Invesco Short Term Treasury ETF | 3.91% | 4.08% | 4.99% | 4.63% | 1.37% | 0.03% | 0.80% | 2.08% | 1.69% | 0.71% |
Drawdowns
CVSB vs. TBLL - Drawdown Comparison
The maximum CVSB drawdown since its inception was -0.63%, roughly equal to the maximum TBLL drawdown of -0.63%. Use the drawdown chart below to compare losses from any high point for CVSB and TBLL.
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Drawdown Indicators
| CVSB | TBLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.63% | -0.63% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -0.47% | -0.04% | -0.43% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.36% | — |
Current DrawdownCurrent decline from peak | -0.01% | 0.00% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -0.14% | +0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 0.00% | +0.07% |
Volatility
CVSB vs. TBLL - Volatility Comparison
Calvert Ultra-Short Investment Grade ETF (CVSB) has a higher volatility of 0.25% compared to Invesco Short Term Treasury ETF (TBLL) at 0.05%. This indicates that CVSB'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.
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Volatility by Period
| CVSB | TBLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.25% | 0.05% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 0.61% | 0.12% | +0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.13% | 0.20% | +0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.35% | 0.45% | +0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.35% | 0.56% | +0.79% |