NUBD vs. NUSB

Last updated Jun 4, 2026

NUBD (Nuveen ESG U.S. Aggregate Bond ETF) and NUSB (Nuveen Ultra Short Income ETF) are both exchange-traded funds - NUBD is a Intermediate Core Bond fund tracking the Bloomberg MSCI U.S. Aggregate ESG Select Index, while NUSB is a Ultrashort Bond fund actively managed by Nuveen. NUBD is passively managed, while NUSB is actively managed. Over the past year, NUBD returned 4.97% vs 4.32% for NUSB. At a 0.33 correlation, their price movements are largely independent. NUBD charges 0.15%/yr vs 0.17%/yr for NUSB.

Performance

NUBD vs. NUSB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG U.S. Aggregate Bond ETF (NUBD) and Nuveen Ultra Short Income ETF (NUSB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUBD achieves a 0.20% return, which is significantly lower than NUSB's 1.52% return.

NUBD

• 1D: -0.18%
• 1M: 0.31%
• YTD: 0.20%
• 6M: 0.09%
• 1Y: 4.97%
• 3Y*: 3.77%
• 5Y*: -0.06%
• 10Y*: —

NUSB

• 1D: 0.00%
• 1M: 0.32%
• YTD: 1.52%
• 6M: 1.88%
• 1Y: 4.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NUBD vs. NUSB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NUBD Nuveen ESG U.S. Aggregate Bond ETF	0.20%	6.75%	2.05%
NUSB Nuveen Ultra Short Income ETF	1.52%	4.71%	4.50%

Correlation

The correlation between NUBD and NUSB is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.33

Return for Risk

NUBD vs. NUSB — Risk / Return Rank

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

NUBD

NUBD Risk / Return Rank: 36
NUBD Sharpe Ratio Rank: 36
NUBD Sortino Ratio Rank: 37
NUBD Omega Ratio Rank: 35
NUBD Calmar Ratio Rank: 37
NUBD Martin Ratio Rank: 35

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: 100
NUSB 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.

NUBD vs. NUSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG U.S. Aggregate Bond ETF (NUBD) 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.

	NUBD	NUSB	Difference
Sharpe ratio: Return per unit of total volatility	1.32	11.80	-10.48
Sortino ratio: Return per unit of downside risk	1.93	32.55	-30.62
Omega ratio: Gain probability vs. loss probability	1.23	9.19	-7.95
Calmar ratio: Return relative to maximum drawdown	1.81	72.98	-71.18
Martin ratio: Return relative to average drawdown	5.38	397.82	-392.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUBD vs. NUSB - Sharpe Ratio Comparison

The current NUBD Sharpe Ratio is 1.32, which is lower than the NUSB Sharpe Ratio of 11.80. The chart below compares the historical Sharpe Ratios of NUBD and NUSB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NUBD	NUSB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	11.80	-10.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	12.54	-12.25

Drawdowns

NUBD vs. NUSB - Drawdown Comparison

The maximum NUBD drawdown since its inception was -19.45%, which is greater than NUSB's maximum drawdown of -0.16%. Use the drawdown chart below to compare losses from any high point for NUBD and NUSB.

Drawdown Indicators

	NUBD	NUSB	Difference
Max Drawdown Largest peak-to-trough decline	-19.45%	-0.16%	-19.29%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-0.06%	-2.70%
Max Drawdown (3Y) Largest decline over 3 years	-5.94%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.90%	—	—
Current Drawdown Current decline from peak	-3.93%	0.00%	-3.93%
Average Drawdown Average peak-to-trough decline	-6.05%	-0.00%	-6.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.01%	+0.92%

Volatility

NUBD vs. NUSB - Volatility Comparison

Nuveen ESG U.S. Aggregate Bond ETF (NUBD) has a higher volatility of 1.23% compared to Nuveen Ultra Short Income ETF (NUSB) at 0.09%. This indicates that NUBD'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

	NUBD	NUSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	0.09%	+1.14%
Volatility (6M) Calculated over the trailing 6-month period	2.61%	0.23%	+2.38%
Volatility (1Y) Calculated over the trailing 1-year period	3.79%	0.37%	+3.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.99%	0.39%	+5.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.12%	0.39%	+4.73%

NUBD vs. NUSB - Expense Ratio Comparison

NUBD has a 0.15% expense ratio, which is lower than NUSB'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

NUBD vs. NUSB - Dividend Comparison

NUBD's dividend yield for the trailing twelve months is around 3.99%, less than NUSB's 4.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUBD Nuveen ESG U.S. Aggregate Bond ETF	3.99%	3.90%	3.51%	2.99%	2.83%	2.05%	2.21%	2.66%	3.08%	0.58%
NUSB Nuveen Ultra Short Income ETF	4.30%	4.51%	3.61%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NUBD and NUSB in my portfolio?

NUBD and NUSB have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUBD or NUSB?

NUBD has higher volatility (1.23%) compared to NUSB (0.09%). In terms of maximum drawdown, NUBD dropped -19.45% vs NUSB's -0.16%.

Which ETF is better, NUBD or NUSB?

On 1-year performance, NUBD leads with 4.97% vs 4.32% for NUSB. On fees, NUBD is cheaper at 0.15% per year. On volatility, NUSB has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUBD or NUSB?

Over the 1-year period, NUBD has performed better with a 4.97% return vs 4.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUBD or NUSB?

NUBD is cheaper with a 0.15% expense ratio, compared with 0.17% for NUSB.

Which ETF pays a higher dividend yield, NUBD or NUSB?

NUSB has the higher dividend yield at 4.30%, compared with 3.99% for NUBD.

What is the main difference between NUBD and NUSB?

NUBD is categorized as Intermediate Core Bond, while NUSB is Ultrashort Bond. Their fees differ too: 0.15% for NUBD and 0.17% for NUSB.

Which has better risk-adjusted returns?

NUSB currently has the higher Sharpe Ratio (11.80 vs 1.32), 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.