FGUSX vs. BUBSX

Last updated Apr 2, 2026

Compare and contrast key facts about Federated Hermes Government Ultrashort Fund (FGUSX) and Baird Ultra Short Bond Fund (BUBSX).

FGUSX is managed by Federated. It was launched on Jul 10, 1997. BUBSX is managed by Baird. It was launched on Dec 31, 2013.

Performance

FGUSX vs. BUBSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Government Ultrashort Fund (FGUSX) and Baird Ultra Short Bond Fund (BUBSX). The values are adjusted to include any dividend payments, if applicable.

FGUSX vs. BUBSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FGUSX Federated Hermes Government Ultrashort Fund	0.48%	5.22%	4.67%	4.61%	0.33%
BUBSX Baird Ultra Short Bond Fund	0.80%	4.53%	5.47%	5.43%	0.02%

Returns By Period

In the year-to-date period, FGUSX achieves a 0.48% return, which is significantly lower than BUBSX's 0.80% return.

FGUSX

• 1D: 0.00%
• 1M: -0.30%
• YTD: 0.48%
• 6M: 1.82%
• 1Y: 4.36%
• 3Y*: 4.55%
• 5Y*: —
• 10Y*: —

BUBSX

• 1D: 0.10%
• 1M: 0.22%
• YTD: 0.80%
• 6M: 1.79%
• 1Y: 4.18%
• 3Y*: 5.01%
• 5Y*: 3.33%
• 10Y*: 2.49%

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

FGUSX vs. BUBSX - Expense Ratio Comparison

FGUSX has a 0.26% expense ratio, which is lower than BUBSX's 0.40% expense ratio.

BUBSX

Baird Ultra Short Bond Fund

FGUSX

Federated Hermes Government Ultrashort Fund

Return for Risk

FGUSX vs. BUBSX — Risk / Return Rank

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

FGUSX

FGUSX Risk / Return Rank: 99
FGUSX Sharpe Ratio Rank: 98
FGUSX Sortino Ratio Rank: 99
FGUSX Omega Ratio Rank: 99
FGUSX Calmar Ratio Rank: 100
FGUSX Martin Ratio Rank: 99

BUBSX

BUBSX Risk / Return Rank: 100
BUBSX Sharpe Ratio Rank: 100
BUBSX Sortino Ratio Rank: 100
BUBSX Omega Ratio Rank: 100
BUBSX Calmar Ratio Rank: 100
BUBSX 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.

FGUSX vs. BUBSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Government Ultrashort Fund (FGUSX) and Baird Ultra Short Bond Fund (BUBSX). 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.

	FGUSX	BUBSX	Difference
Sharpe ratio Return per unit of total volatility	3.06	6.41	-3.35
Sortino ratio Return per unit of downside risk	9.18	18.34	-9.16
Omega ratio Gain probability vs. loss probability	3.00	8.48	-5.48
Calmar ratio Return relative to maximum drawdown	15.63	42.42	-26.79
Martin ratio Return relative to average drawdown	47.02	229.13	-182.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FGUSX vs. BUBSX - Sharpe Ratio Comparison

The current FGUSX Sharpe Ratio is 3.06, which is lower than the BUBSX Sharpe Ratio of 6.41. The chart below compares the historical Sharpe Ratios of FGUSX and BUBSX, 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

	FGUSX	BUBSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.06	6.41	-3.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	4.44	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	3.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.02	3.12	-0.10

Correlation

The correlation between FGUSX and BUBSX is 0.12, 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

FGUSX vs. BUBSX - Dividend Comparison

FGUSX's dividend yield for the trailing twelve months is around 4.15%, more than BUBSX's 4.10% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGUSX Federated Hermes Government Ultrashort Fund	4.15%	4.66%	4.56%	4.70%	0.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BUBSX Baird Ultra Short Bond Fund	4.10%	4.24%	5.04%	4.39%	1.29%	0.25%	1.14%	2.33%	1.90%	1.04%	0.81%	0.56%

Drawdowns

FGUSX vs. BUBSX - Drawdown Comparison

The maximum FGUSX drawdown since its inception was -0.31%, smaller than the maximum BUBSX drawdown of -1.88%. Use the drawdown chart below to compare losses from any high point for FGUSX and BUBSX.

Drawdown Indicators

	FGUSX	BUBSX	Difference
Max Drawdown Largest peak-to-trough decline	-0.31%	-1.88%	+1.57%
Max Drawdown (1Y) Largest decline over 1 year	-0.31%	-0.10%	-0.21%
Max Drawdown (5Y) Largest decline over 5 years	—	-0.83%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-1.88%	—
Current Drawdown Current decline from peak	-0.30%	0.00%	-0.30%
Average Drawdown Average peak-to-trough decline	-0.07%	-0.08%	+0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.10%	0.02%	+0.08%

Volatility

FGUSX vs. BUBSX - Volatility Comparison

Federated Hermes Government Ultrashort Fund (FGUSX) has a higher volatility of 0.22% compared to Baird Ultra Short Bond Fund (BUBSX) at 0.20%. This indicates that FGUSX's price experiences larger fluctuations and is considered to be riskier than BUBSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGUSX	BUBSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.22%	0.20%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	1.02%	0.46%	+0.56%
Volatility (1Y) Calculated over the trailing 1-year period	1.48%	0.65%	+0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.57%	0.75%	+0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.57%	0.70%	+0.87%