NUSB vs. SPTU

Last updated Jun 4, 2026

NUSB (Nuveen Ultra Short Income ETF) and SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) are both Ultrashort Bond funds. NUSB is actively managed, while SPTU is passively managed. At a 0.15 correlation, their price movements are largely independent. NUSB charges 0.17%/yr vs 0.05%/yr for SPTU.

Performance

NUSB vs. SPTU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Ultra Short Income ETF (NUSB) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with NUSB having a 1.52% return and SPTU slightly lower at 1.48%.

NUSB

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

SPTU

• 1D: 0.00%
• 1M: 0.31%
• YTD: 1.48%
• 6M: 1.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NUSB vs. SPTU - Yearly Performance Comparison

	2026 (YTD)	2025
NUSB Nuveen Ultra Short Income ETF	1.52%	0.98%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.48%	0.92%

Correlation

The correlation between NUSB and SPTU is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025	0.15

Return for Risk

NUSB vs. SPTU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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

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.

NUSB vs. SPTU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Ultra Short Income ETF (NUSB) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). 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.

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

Sharpe Ratios by Period

	NUSB	SPTU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	11.80	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	12.54	11.82	+0.71

Drawdowns

NUSB vs. SPTU - Drawdown Comparison

The maximum NUSB drawdown since its inception was -0.16%, which is greater than SPTU's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for NUSB and SPTU.

Drawdown Indicators

	NUSB	SPTU	Difference
Max Drawdown Largest peak-to-trough decline	-0.16%	-0.04%	-0.12%
Max Drawdown (1Y) Largest decline over 1 year	-0.06%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	—	—

Volatility

Volatility by Period

	NUSB	SPTU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.09%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.23%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.37%	0.32%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.39%	0.32%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.39%	0.32%	+0.07%

NUSB vs. SPTU - Expense Ratio Comparison

NUSB has a 0.17% expense ratio, which is higher than SPTU's 0.05% 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

NUSB vs. SPTU - Dividend Comparison

NUSB's dividend yield for the trailing twelve months is around 4.30%, more than SPTU's 2.36% yield.

Position	TTM	2025	2024
NUSB Nuveen Ultra Short Income ETF	4.30%	4.51%	3.61%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.36%	0.89%	0.00%

Frequently Asked Questions

Can I hold both NUSB and SPTU in my portfolio?

NUSB and SPTU have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NUSB or SPTU?

On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NUSB or SPTU?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.17% for NUSB.

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

NUSB has the higher dividend yield at 4.30%, compared with 2.36% for SPTU.

What is the main difference between NUSB and SPTU?

They also come from different issuers: Nuveen and State Street. Their fees differ too: 0.17% for NUSB and 0.05% for SPTU.