NUSB vs. VBIL

Last updated Jun 4, 2026

NUSB (Nuveen Ultra Short Income ETF) and VBIL (Vanguard 0-3 Month Treasury Bill ETF) are both Ultrashort Bond funds. NUSB is actively managed, while VBIL is passively managed. Over the past year, NUSB returned 4.32% vs 3.93% for VBIL. At a 0.20 correlation, their price movements are largely independent. NUSB charges 0.17%/yr vs 0.07%/yr for VBIL.

Performance

NUSB vs. VBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Ultra Short Income ETF (NUSB) and Vanguard 0-3 Month Treasury Bill ETF (VBIL). 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 VBIL slightly lower at 1.50%.

NUSB

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

VBIL

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.50%
• 6M: 1.80%
• 1Y: 3.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NUSB vs. VBIL - Yearly Performance Comparison

	2026 (YTD)	2025
NUSB Nuveen Ultra Short Income ETF	1.52%	4.21%
VBIL Vanguard 0-3 Month Treasury Bill ETF	1.50%	3.71%

Correlation

The correlation between NUSB and VBIL is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Feb 12, 2025	0.20

Return for Risk

NUSB vs. VBIL — 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

VBIL

VBIL Risk / Return Rank: 100
VBIL Sharpe Ratio Rank: 100
VBIL Sortino Ratio Rank: 100
VBIL Omega Ratio Rank: 100
VBIL Calmar Ratio Rank: 99
VBIL 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. VBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Ultra Short Income ETF (NUSB) and Vanguard 0-3 Month Treasury Bill ETF (VBIL). 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	VBIL	Difference
Sharpe ratio: Return per unit of total volatility	11.80	15.17	-3.37
Sortino ratio: Return per unit of downside risk	32.55	39.11	-6.56
Omega ratio: Gain probability vs. loss probability	9.19	21.10	-11.91
Calmar ratio: Return relative to maximum drawdown	72.98	42.61	+30.37
Martin ratio: Return relative to average drawdown	397.82	532.54	-134.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUSB vs. VBIL - Sharpe Ratio Comparison

The current NUSB Sharpe Ratio is 11.80, which is comparable to the VBIL Sharpe Ratio of 15.17. The chart below compares the historical Sharpe Ratios of NUSB and VBIL, 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

	NUSB	VBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	11.80	15.17	-3.37
Sharpe Ratio (All Time) Calculated using the full available price history	12.54	13.44	-0.90

Drawdowns

NUSB vs. VBIL - Drawdown Comparison

The maximum NUSB drawdown since its inception was -0.16%, which is greater than VBIL's maximum drawdown of -0.09%. Use the drawdown chart below to compare losses from any high point for NUSB and VBIL.

Drawdown Indicators

	NUSB	VBIL	Difference
Max Drawdown Largest peak-to-trough decline	-0.16%	-0.09%	-0.07%
Max Drawdown (1Y) Largest decline over 1 year	-0.06%	-0.09%	+0.03%
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%	0.01%	0.00%

Volatility

NUSB vs. VBIL - Volatility Comparison

Nuveen Ultra Short Income ETF (NUSB) has a higher volatility of 0.09% compared to Vanguard 0-3 Month Treasury Bill ETF (VBIL) at 0.06%. This indicates that NUSB's price experiences larger fluctuations and is considered to be riskier than VBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUSB	VBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.09%	0.06%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	0.23%	0.16%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	0.37%	0.26%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.39%	0.30%	+0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.39%	0.30%	+0.09%

NUSB vs. VBIL - Expense Ratio Comparison

NUSB has a 0.17% expense ratio, which is higher than VBIL's 0.07% 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. VBIL - Dividend Comparison

NUSB's dividend yield for the trailing twelve months is around 4.30%, more than VBIL's 3.65% yield.

Position	TTM	2025	2024
NUSB Nuveen Ultra Short Income ETF	4.30%	4.51%	3.61%
VBIL Vanguard 0-3 Month Treasury Bill ETF	3.65%	3.12%	0.00%

Frequently Asked Questions

Can I hold both NUSB and VBIL in my portfolio?

NUSB and VBIL have a correlation of 0.23, 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 VBIL?

NUSB has higher volatility (0.09%) compared to VBIL (0.06%). In terms of maximum drawdown, NUSB dropped -0.16% vs VBIL's -0.09%.

Which ETF is better, NUSB or VBIL?

On 1-year performance, NUSB leads with 4.32% vs 3.93% for VBIL. On fees, VBIL is cheaper at 0.07% 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, NUSB or VBIL?

Over the 1-year period, NUSB has performed better with a 4.32% return vs 3.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUSB or VBIL?

VBIL is cheaper with a 0.07% expense ratio, compared with 0.17% for NUSB.

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

NUSB has the higher dividend yield at 4.30%, compared with 3.65% for VBIL.

What is the main difference between NUSB and VBIL?

They also come from different issuers: Nuveen and Vanguard. Their fees differ too: 0.17% for NUSB and 0.07% for VBIL.

Which has better risk-adjusted returns?

VBIL currently has the higher Sharpe Ratio (15.17 vs 11.80), 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.