EVSB vs. NUSB

Last updated Apr 2, 2026

Compare and contrast key facts about Eaton Vance Ultra-Short Income ETF (EVSB) and Nuveen Ultra Short Income ETF (NUSB).

EVSB and NUSB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EVSB is an actively managed fund by Eaton Vance. It was launched on Oct 16, 2023. NUSB is an actively managed fund by Nuveen. It was launched on Mar 5, 2024.

Performance

EVSB vs. NUSB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Ultra-Short Income ETF (EVSB) and Nuveen Ultra Short Income ETF (NUSB). The values are adjusted to include any dividend payments, if applicable.

EVSB vs. NUSB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EVSB Eaton Vance Ultra-Short Income ETF	0.86%	5.12%	4.99%
NUSB Nuveen Ultra Short Income ETF	0.85%	4.71%	4.50%

Returns By Period

The year-to-date returns for both stocks are quite close, with EVSB having a 0.86% return and NUSB slightly lower at 0.85%.

EVSB

• 1D: -0.04%
• 1M: 0.17%
• YTD: 0.86%
• 6M: 1.97%
• 1Y: 4.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NUSB

• 1D: 0.01%
• 1M: 0.17%
• YTD: 0.85%
• 6M: 1.92%
• 1Y: 4.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EVSB vs. NUSB - Expense Ratio Comparison

Both EVSB and NUSB have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

EVSB

Eaton Vance Ultra-Short Income ETF

NUSB

Nuveen Ultra Short Income ETF

Return for Risk

EVSB vs. NUSB — Risk / Return Rank

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

EVSB

EVSB Risk / Return Rank: 99
EVSB Sharpe Ratio Rank: 99
EVSB Sortino Ratio Rank: 99
EVSB Omega Ratio Rank: 99
EVSB Calmar Ratio Rank: 99
EVSB Martin Ratio Rank: 99

NUSB

NUSB Risk / Return Rank: 100
NUSB Sharpe Ratio Rank: 100
NUSB Sortino Ratio Rank: 100
NUSB Omega Ratio Rank: 100
NUSB Calmar Ratio Rank: 99
NUSB Martin Ratio Rank: 99

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.

EVSB vs. NUSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Ultra-Short Income ETF (EVSB) and Nuveen Ultra Short Income ETF (NUSB). 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.

	EVSB	NUSB	Difference
Sharpe ratio Return per unit of total volatility	5.25	10.37	-5.13
Sortino ratio Return per unit of downside risk	8.65	26.20	-17.55
Omega ratio Gain probability vs. loss probability	2.48	6.55	-4.07
Calmar ratio Return relative to maximum drawdown	14.82	27.69	-12.87
Martin ratio Return relative to average drawdown	84.28	201.92	-117.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVSB vs. NUSB - Sharpe Ratio Comparison

The current EVSB Sharpe Ratio is 5.25, which is lower than the NUSB Sharpe Ratio of 10.37. The chart below compares the historical Sharpe Ratios of EVSB and NUSB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EVSB	NUSB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.25	10.37	-5.13
Sharpe Ratio (All Time) Calculated using the full available price history	6.94	12.48	-5.54

Correlation

The correlation between EVSB and NUSB is 0.25, 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

EVSB vs. NUSB - Dividend Comparison

EVSB's dividend yield for the trailing twelve months is around 4.68%, more than NUSB's 4.37% yield.

	TTM	2025	2024	2023
EVSB Eaton Vance Ultra-Short Income ETF	4.68%	4.63%	5.18%	1.21%
NUSB Nuveen Ultra Short Income ETF	4.37%	4.51%	3.61%	0.00%

Drawdowns

EVSB vs. NUSB - Drawdown Comparison

The maximum EVSB drawdown since its inception was -0.31%, which is greater than NUSB's maximum drawdown of -0.16%. Use the drawdown chart below to compare losses from any high point for EVSB and NUSB.

Drawdown Indicators

	EVSB	NUSB	Difference
Max Drawdown Largest peak-to-trough decline	-0.31%	-0.16%	-0.15%
Max Drawdown (1Y) Largest decline over 1 year	-0.31%	-0.16%	-0.15%
Current Drawdown Current decline from peak	-0.04%	0.00%	-0.04%
Average Drawdown Average peak-to-trough decline	-0.02%	0.00%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	0.02%	+0.04%

Volatility

EVSB vs. NUSB - Volatility Comparison

Eaton Vance Ultra-Short Income ETF (EVSB) has a higher volatility of 0.22% compared to Nuveen Ultra Short Income ETF (NUSB) at 0.12%. This indicates that EVSB's price experiences larger fluctuations and is considered to be riskier than NUSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVSB	NUSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.22%	0.12%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	0.50%	0.23%	+0.27%
Volatility (1Y) Calculated over the trailing 1-year period	0.88%	0.42%	+0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.83%	0.39%	+0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.83%	0.39%	+0.44%