OPER vs. CGUI

Last updated Jun 4, 2026

OPER (ClearShares Ultra-Short Maturity ETF) and CGUI (Capital Group Ultra Short Income ETF) are both Ultrashort Bond funds. OPER is passively managed, while CGUI is actively managed. Over the past year, OPER returned 4.07% vs 4.42% for CGUI. At a 0.06 correlation, their price movements are largely independent. OPER charges 0.20%/yr vs 0.18%/yr for CGUI.

Performance

OPER vs. CGUI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ClearShares Ultra-Short Maturity ETF (OPER) and Capital Group Ultra Short Income ETF (CGUI). 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 OPER having a 1.55% return and CGUI slightly lower at 1.50%.

OPER

• 1D: 0.01%
• 1M: 0.34%
• YTD: 1.55%
• 6M: 1.88%
• 1Y: 4.07%
• 3Y*: 4.80%
• 5Y*: 3.65%
• 10Y*: —

CGUI

• 1D: -0.04%
• 1M: 0.29%
• YTD: 1.50%
• 6M: 1.84%
• 1Y: 4.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OPER vs. CGUI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OPER ClearShares Ultra-Short Maturity ETF	1.55%	4.37%	2.62%
CGUI Capital Group Ultra Short Income ETF	1.50%	4.99%	3.03%

Correlation

The correlation between OPER and CGUI is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (All Time) Calculated using the full available price history since Jun 28, 2024	0.06

Return for Risk

OPER vs. CGUI — Risk / Return Rank

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

OPER

OPER Risk / Return Rank: 100
OPER Sharpe Ratio Rank: 100
OPER Sortino Ratio Rank: 100
OPER Omega Ratio Rank: 100
OPER Calmar Ratio Rank: 100
OPER Martin Ratio Rank: 100

CGUI

CGUI Risk / Return Rank: 99
CGUI Sharpe Ratio Rank: 98
CGUI Sortino Ratio Rank: 99
CGUI Omega Ratio Rank: 99
CGUI Calmar Ratio Rank: 99
CGUI 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.

OPER vs. CGUI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ClearShares Ultra-Short Maturity ETF (OPER) and Capital Group Ultra Short Income ETF (CGUI). 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.

	OPER	CGUI	Difference
Sharpe ratio: Return per unit of total volatility	15.45	5.99	+9.46
Sortino ratio: Return per unit of downside risk	43.90	10.92	+32.98
Omega ratio: Gain probability vs. loss probability	13.38	2.66	+10.72
Calmar ratio: Return relative to maximum drawdown	61.29	24.99	+36.29
Martin ratio: Return relative to average drawdown	519.55	105.06	+414.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OPER vs. CGUI - Sharpe Ratio Comparison

The current OPER Sharpe Ratio is 15.45, which is higher than the CGUI Sharpe Ratio of 5.99. The chart below compares the historical Sharpe Ratios of OPER and CGUI, 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

	OPER	CGUI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	15.45	5.99	+9.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	11.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.28	6.20	-3.92

Drawdowns

OPER vs. CGUI - Drawdown Comparison

The maximum OPER drawdown since its inception was -2.33%, which is greater than CGUI's maximum drawdown of -0.18%. Use the drawdown chart below to compare losses from any high point for OPER and CGUI.

Drawdown Indicators

	OPER	CGUI	Difference
Max Drawdown Largest peak-to-trough decline	-2.33%	-0.18%	-2.15%
Max Drawdown (1Y) Largest decline over 1 year	-0.07%	-0.18%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-0.11%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-0.13%	—	—
Current Drawdown Current decline from peak	0.00%	-0.04%	+0.04%
Average Drawdown Average peak-to-trough decline	-0.16%	-0.02%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	0.04%	-0.03%

Volatility

OPER vs. CGUI - Volatility Comparison

The current volatility for ClearShares Ultra-Short Maturity ETF (OPER) is 0.10%, while Capital Group Ultra Short Income ETF (CGUI) has a volatility of 0.30%. This indicates that OPER experiences smaller price fluctuations and is considered to be less risky than CGUI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OPER	CGUI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.10%	0.30%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	0.20%	0.56%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	0.26%	0.74%	-0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.32%	0.80%	-0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.23%	0.80%	+0.43%

OPER vs. CGUI - Expense Ratio Comparison

OPER has a 0.20% expense ratio, which is higher than CGUI's 0.18% 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

OPER vs. CGUI - Dividend Comparison

OPER's dividend yield for the trailing twelve months is around 4.09%, more than CGUI's 3.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CGUI Capital Group Ultra Short Income ETF	3.89%	4.17%	2.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OPER ClearShares Ultra-Short Maturity ETF	4.09%	4.32%	5.21%	5.03%	1.71%	0.36%	0.64%	2.08%	0.89%

Frequently Asked Questions

Can I hold both OPER and CGUI in my portfolio?

OPER and CGUI have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OPER or CGUI?

CGUI has higher volatility (0.30%) compared to OPER (0.10%). In terms of maximum drawdown, OPER dropped -2.33% vs CGUI's -0.18%.

Which ETF is better, OPER or CGUI?

On 1-year performance, CGUI leads with 4.42% vs 4.07% for OPER. On fees, CGUI is cheaper at 0.18% per year. On volatility, OPER has been the lower-risk option at 0.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OPER or CGUI?

Over the 1-year period, CGUI has performed better with a 4.42% return vs 4.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OPER or CGUI?

CGUI is cheaper with a 0.18% expense ratio, compared with 0.20% for OPER.

Which ETF pays a higher dividend yield, OPER or CGUI?

OPER has the higher dividend yield at 4.09%, compared with 3.89% for CGUI.

What is the main difference between OPER and CGUI?

They also come from different issuers: ClearShares and Capital Group. Their fees differ too: 0.20% for OPER and 0.18% for CGUI.

Which has better risk-adjusted returns?

OPER currently has the higher Sharpe Ratio (15.45 vs 5.99), 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.