NUSB vs. EVSD

Last updated Aug 2, 2026

NUSB (Nuveen Ultra Short Income ETF) and EVSD (Eaton Vance Short Duration Income ETF) are both exchange-traded funds - NUSB is a Ultrashort Bond fund actively managed by Nuveen, while EVSD is a Short-Term Bond fund actively managed by Eaton Vance. Both are actively managed. Over the past year, NUSB returned 4.07% vs 3.56% for EVSD. Their 0.39 correlation means their historical movements had little consistent relationship. NUSB charges 0.17%/yr vs 0.24%/yr for EVSD.

Performance

NUSB vs. EVSD - Performance Comparison

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

Returns By Period

In the year-to-date period, NUSB achieves a 2.15% return, which is significantly higher than EVSD's 1.08% return.

NUSB

• 1D: 0.04%
• 1M: 0.32%
• 6M: 1.79%
• YTD: 2.15%
• 1Y: 4.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.74%

EVSD

• 1D: -0.04%
• 1M: -0.05%
• 6M: 0.67%
• YTD: 1.08%
• 1Y: 3.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.55%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EVSD Eaton Vance Short Duration Income ETF	$6.64M	$6.21M	$7.07M
NUSB Nuveen Ultra Short Income ETF	$13.47K	$14.07K	$14.74K

NUSB vs. EVSD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NUSB Nuveen Ultra Short Income ETF	2.15%	4.71%	3.04%
EVSD Eaton Vance Short Duration Income ETF	1.08%	6.80%	3.86%

Correlation

The correlation between NUSB and EVSD is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (All Time) Calculated using the full available price history since Jun 17, 2024	0.39

Return for Risk

NUSB vs. EVSD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

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

EVSD

EVSD Risk / Return Rank: 91
EVSD Sharpe Ratio Rank: 93
EVSD Sortino Ratio Rank: 95
EVSD Omega Ratio Rank: 94
EVSD Calmar Ratio Rank: 84
EVSD Martin Ratio Rank: 88

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NUSB vs. EVSD - Risk-Adjusted Trends Comparison

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

	NUSB	EVSD	Difference
Sharpe ratio: Return per unit of total volatility	12.86	2.54	+10.32
Sortino ratio: Return per unit of downside risk	36.71	3.87	+32.84
Omega ratio: Gain probability vs. loss probability	10.33	1.51	+8.81
Calmar ratio: Return relative to maximum drawdown	70.84	3.19	+67.66
Martin ratio: Return relative to average drawdown	468.32	13.00	+455.31

NUSB vs. EVSD - Sharpe Ratio Comparison

The current NUSB Sharpe Ratio is 12.86, which is higher than the EVSD Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of NUSB and EVSD, 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

NUSB vs. EVSD - Drawdown Comparison

The maximum NUSB drawdown since its inception was -0.16%, smaller than the maximum EVSD drawdown of -1.26%. Use the drawdown chart below to compare losses from any high point for NUSB and EVSD.

Drawdown Indicators

	NUSB	EVSD	Difference
Max Drawdown Largest peak-to-trough decline	-0.16%	-1.26%	+1.10%
Max Drawdown (1Y) Largest decline over 1 year	-0.06%	-1.26%	+1.20%
Current Drawdown Current decline from peak	0.00%	-0.12%	+0.12%
Average Drawdown Average peak-to-trough decline	0.00%	-0.19%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	0.31%	-0.30%

Volatility

NUSB vs. EVSD - Volatility Comparison

The current volatility for Nuveen Ultra Short Income ETF (NUSB) is 0.08%, while Eaton Vance Short Duration Income ETF (EVSD) has a volatility of 0.50%. This indicates that NUSB experiences smaller price fluctuations and is considered to be less risky than EVSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUSB	EVSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.08%	0.50%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	0.23%	1.30%	-1.07%
Volatility (1Y) Calculated over the trailing 1-year period	0.33%	1.59%	-1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.38%	1.93%	-1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.38%	1.93%	-1.55%

NUSB vs. EVSD - Expense Ratio Comparison

NUSB has a 0.17% expense ratio, which is lower than EVSD's 0.24% 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

NUSB vs. EVSD - Dividend Comparison

NUSB's dividend yield for the trailing twelve months is around 4.28%, less than EVSD's 4.63% yield.

Position	TTM	2025	2024
EVSD Eaton Vance Short Duration Income ETF	4.63%	4.64%	2.91%
NUSB Nuveen Ultra Short Income ETF	3.89%	4.51%	3.61%

Frequently Asked Questions

Can I hold both NUSB and EVSD in my portfolio?

NUSB and EVSD have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUSB or EVSD?

EVSD has higher volatility (0.50%) compared to NUSB (0.08%). In terms of maximum drawdown, NUSB dropped -0.16% vs EVSD's -1.26%.

Which ETF is better, NUSB or EVSD?

On 1-year performance, NUSB leads with 4.07% vs 3.56% for EVSD. On fees, NUSB is cheaper at 0.17% per year. On volatility, NUSB has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUSB or EVSD?

Over the 1-year period, NUSB has performed better with a 4.07% return vs 3.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUSB or EVSD?

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

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

EVSD has the higher dividend yield at 4.63%, compared with 3.89% for NUSB.

What is the main difference between NUSB and EVSD?

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

Which has better risk-adjusted returns?

NUSB currently has the higher Sharpe Ratio (12.86 vs 2.54), 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.