GSST vs. TBUX

Last updated Jun 14, 2026

GSST (Goldman Sachs Ultra Short Bond ETF) and TBUX (T. Rowe Price Ultra Short-Term Bond ETF) are both Ultrashort Bond funds. Both are actively managed. Over the past 3 years, GSST returned 5.52%/yr vs 5.89%/yr for TBUX. At a 0.38 correlation, their price movements are largely independent. GSST charges 0.16%/yr vs 0.17%/yr for TBUX.

Performance

GSST vs. TBUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Ultra Short Bond ETF (GSST) 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, GSST achieves a 1.66% return, which is significantly lower than TBUX's 1.83% return.

GSST

• 1D: 0.00%
• 1M: 0.31%
• YTD: 1.66%
• 6M: 1.89%
• 1Y: 4.57%
• 3Y*: 5.52%
• 5Y*: 3.77%
• 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)

GSST vs. TBUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GSST Goldman Sachs Ultra Short Bond ETF	1.66%	5.20%	6.01%	6.08%	0.13%	-0.13%
TBUX T. Rowe Price Ultra Short-Term Bond ETF	1.83%	5.37%	6.38%	6.39%	-0.13%	-0.25%

Correlation

The correlation between GSST and TBUX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021	0.38

Return for Risk

GSST vs. TBUX — Risk / Return Rank

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

GSST

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

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.

GSST vs. TBUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Ultra Short Bond ETF (GSST) 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.

	GSST	TBUX	Difference
Sharpe ratio: Return per unit of total volatility	7.94	7.19	+0.76
Sortino ratio: Return per unit of downside risk	16.51	14.51	+2.00
Omega ratio: Gain probability vs. loss probability	3.93	3.12	+0.81
Calmar ratio: Return relative to maximum drawdown	29.85	48.17	-18.31
Martin ratio: Return relative to average drawdown	184.69	182.82	+1.87

GSST vs. TBUX - Sharpe Ratio Comparison

The current GSST Sharpe Ratio is 7.94, which is comparable to the TBUX Sharpe Ratio of 7.19. The chart below compares the historical Sharpe Ratios of GSST 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

GSST vs. TBUX - Drawdown Comparison

The maximum GSST drawdown since its inception was -3.51%, which is greater than TBUX's maximum drawdown of -1.82%. Use the drawdown chart below to compare losses from any high point for GSST and TBUX.

Drawdown Indicators

	GSST	TBUX	Difference
Max Drawdown Largest peak-to-trough decline	-3.51%	-1.82%	-1.69%
Max Drawdown (1Y) Largest decline over 1 year	-0.15%	-0.10%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-0.25%	-0.33%	+0.08%
Max Drawdown (5Y) Largest decline over 5 years	-1.19%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.16%	-0.28%	+0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	0.03%	-0.01%

Volatility

GSST vs. TBUX - Volatility Comparison

The current volatility for Goldman Sachs Ultra Short Bond ETF (GSST) is 0.13%, while T. Rowe Price Ultra Short-Term Bond ETF (TBUX) has a volatility of 0.22%. This indicates that GSST experiences smaller price fluctuations and is considered to be less risky than TBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSST	TBUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.13%	0.22%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	0.41%	0.46%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	0.58%	0.67%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.63%	1.07%	-0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.86%	1.07%	-0.21%

GSST vs. TBUX - Expense Ratio Comparison

GSST has a 0.16% expense ratio, which is lower than TBUX's 0.17% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GSST vs. TBUX - Dividend Comparison

GSST's dividend yield for the trailing twelve months is around 4.31%, less than TBUX's 4.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
GSST Goldman Sachs Ultra Short Bond ETF	4.31%	4.56%	5.45%	4.98%	1.97%	0.71%	1.12%	1.66%
TBUX T. Rowe Price Ultra Short-Term Bond ETF	4.48%	4.67%	5.39%	4.66%	2.58%	0.27%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSST and TBUX in my portfolio?

GSST and TBUX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSST or TBUX?

TBUX has higher volatility (0.22%) compared to GSST (0.13%). In terms of maximum drawdown, GSST dropped -3.51% vs TBUX's -1.82%.

Which ETF is better, GSST or TBUX?

On 3-year performance, TBUX leads with 5.89% vs 5.52% for GSST. On fees, GSST is cheaper at 0.16% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSST or TBUX?

Over the 3-year period, TBUX has performed better with a 5.89% return vs 5.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSST or TBUX?

GSST is cheaper with a 0.16% expense ratio, compared with 0.17% for TBUX.

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

TBUX has the higher dividend yield at 4.48%, compared with 4.31% for GSST.

What is the main difference between GSST and TBUX?

They also come from different issuers: Goldman Sachs and T. Rowe Price. Their fees differ too: 0.16% for GSST and 0.17% for TBUX.

Which has better risk-adjusted returns?

GSST currently has the higher Sharpe Ratio (7.94 vs 7.19), 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.