EVSD vs. TBUX

Last updated Jun 14, 2026

EVSD (Eaton Vance Short Duration Income ETF) and TBUX (T. Rowe Price Ultra Short-Term Bond ETF) are both exchange-traded funds - EVSD is a Short-Term Bond fund actively managed by Eaton Vance, while TBUX is a Ultrashort Bond fund actively managed by T. Rowe Price. Both are actively managed. Over the past year, EVSD returned 4.77% vs 4.79% for TBUX. At a 0.46 correlation, their price movements are largely independent. EVSD charges 0.24%/yr vs 0.17%/yr for TBUX.

Performance

EVSD vs. TBUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Short Duration Income ETF (EVSD) and T. Rowe Price Ultra Short-Term Bond ETF (TBUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVSD achieves a 0.91% return, which is significantly lower than TBUX's 1.83% return.

EVSD

• 1D: -0.03%
• 1M: 0.36%
• YTD: 0.91%
• 6M: 1.33%
• 1Y: 4.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TBUX

• 1D: 0.00%
• 1M: 0.41%
• YTD: 1.83%
• 6M: 2.14%
• 1Y: 4.79%
• 3Y*: 5.89%
• 5Y*: —
• 10Y*: —

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

EVSD vs. TBUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EVSD Eaton Vance Short Duration Income ETF	0.91%	6.80%	3.86%
TBUX T. Rowe Price Ultra Short-Term Bond ETF	1.83%	5.37%	3.36%

Correlation

The correlation between EVSD and TBUX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jun 17, 2024	0.46

The correlation between EVSD and TBUX has been stable across timeframes, ranging from 0.46 to 0.51 - a consistent structural relationship.

Return for Risk

EVSD vs. TBUX — Risk / Return Rank

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

EVSD

EVSD Risk / Return Rank: 90
EVSD Sharpe Ratio Rank: 94
EVSD Sortino Ratio Rank: 95
EVSD Omega Ratio Rank: 95
EVSD Calmar Ratio Rank: 80
EVSD Martin Ratio Rank: 85

TBUX

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

EVSD vs. TBUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Short Duration Income ETF (EVSD) and T. Rowe Price Ultra Short-Term Bond ETF (TBUX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EVSD	TBUX	Difference
Sharpe ratio: Return per unit of total volatility	3.05	7.19	-4.14
Sortino ratio: Return per unit of downside risk	4.88	14.51	-9.63
Omega ratio: Gain probability vs. loss probability	1.65	3.12	-1.48
Calmar ratio: Return relative to maximum drawdown	3.72	48.17	-44.44
Martin ratio: Return relative to average drawdown	15.56	182.82	-167.26

EVSD vs. TBUX - Sharpe Ratio Comparison

The current EVSD Sharpe Ratio is 3.05, which is lower than the TBUX Sharpe Ratio of 7.19. The chart below compares the historical Sharpe Ratios of EVSD and TBUX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EVSD vs. TBUX - Drawdown Comparison

The maximum EVSD drawdown since its inception was -1.26%, smaller than the maximum TBUX drawdown of -1.82%. Use the drawdown chart below to compare losses from any high point for EVSD and TBUX.

Drawdown Indicators

	EVSD	TBUX	Difference
Max Drawdown Largest peak-to-trough decline	-1.26%	-1.82%	+0.56%
Max Drawdown (1Y) Largest decline over 1 year	-1.26%	-0.10%	-1.16%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.33%	—
Current Drawdown Current decline from peak	-0.04%	0.00%	-0.04%
Average Drawdown Average peak-to-trough decline	-0.19%	-0.28%	+0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.30%	0.03%	+0.27%

Volatility

EVSD vs. TBUX - Volatility Comparison

Eaton Vance Short Duration Income ETF (EVSD) has a higher volatility of 0.55% compared to T. Rowe Price Ultra Short-Term Bond ETF (TBUX) at 0.22%. This indicates that EVSD's price experiences larger fluctuations and is considered to be riskier than TBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVSD	TBUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.55%	0.22%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	1.18%	0.46%	+0.72%
Volatility (1Y) Calculated over the trailing 1-year period	1.54%	0.67%	+0.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.94%	1.07%	+0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.94%	1.07%	+0.87%

EVSD vs. TBUX - Expense Ratio Comparison

EVSD has a 0.24% expense ratio, which is higher than TBUX's 0.17% 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

EVSD vs. TBUX - Dividend Comparison

EVSD's dividend yield for the trailing twelve months is around 4.61%, more than TBUX's 4.48% yield.

Position	TTM	2025	2024	2023	2022	2021
EVSD Eaton Vance Short Duration Income ETF	4.61%	4.64%	2.91%	0.00%	0.00%	0.00%
TBUX T. Rowe Price Ultra Short-Term Bond ETF	4.48%	4.67%	5.39%	4.66%	2.58%	0.27%

Frequently Asked Questions

Can I hold both EVSD and TBUX in my portfolio?

EVSD and TBUX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVSD or TBUX?

EVSD has higher volatility (0.55%) compared to TBUX (0.22%). In terms of maximum drawdown, EVSD dropped -1.26% vs TBUX's -1.82%.

Which ETF is better, EVSD or TBUX?

On 1-year performance, TBUX leads with 4.79% vs 4.77% for EVSD. On fees, TBUX is cheaper at 0.17% per year. On volatility, TBUX has been the lower-risk option at 0.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EVSD or TBUX?

Over the 1-year period, TBUX has performed better with a 4.79% return vs 4.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EVSD or TBUX?

TBUX is cheaper with a 0.17% expense ratio, compared with 0.24% for EVSD.

Which ETF pays a higher dividend yield, EVSD or TBUX?

EVSD has the higher dividend yield at 4.61%, compared with 4.48% for TBUX.

What is the main difference between EVSD and TBUX?

EVSD is categorized as Short-Term Bond, while TBUX is Ultrashort Bond. They also come from different issuers: Eaton Vance and T. Rowe Price. Their fees differ too: 0.24% for EVSD and 0.17% for TBUX.

Which has better risk-adjusted returns?

TBUX currently has the higher Sharpe Ratio (7.19 vs 3.05), 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.