OPER vs. CUSD

Last updated Jun 4, 2026

OPER (ClearShares Ultra-Short Maturity ETF) and CUSD (CrossingBridge Ultra-Short Duration ETF) are both Ultrashort Bond funds. OPER is passively managed, while CUSD is actively managed. Over the past 3 years, OPER returned 4.80%/yr vs 4.69%/yr for CUSD. At a 0.01 correlation, their price movements are largely independent. OPER charges 0.20%/yr vs 0.81%/yr for CUSD.

Performance

OPER vs. CUSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ClearShares Ultra-Short Maturity ETF (OPER) and CrossingBridge Ultra-Short Duration ETF (CUSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OPER achieves a 1.55% return, which is significantly higher than CUSD's 1.42% return.

OPER

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

CUSD

• 1D: -0.13%
• 1M: -0.39%
• YTD: 1.42%
• 6M: 0.90%
• 1Y: 3.46%
• 3Y*: 4.69%
• 5Y*: —
• 10Y*: —

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

OPER vs. CUSD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
OPER ClearShares Ultra-Short Maturity ETF	1.55%	4.37%	5.34%	5.09%	1.76%	0.09%
CUSD CrossingBridge Ultra-Short Duration ETF	1.42%	5.02%	4.57%	6.05%	2.03%	2.40%

Correlation

The correlation between OPER and CUSD is -0.07, 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	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021	0.01

Return for Risk

OPER vs. CUSD — 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

CUSD

CUSD Risk / Return Rank: 15
CUSD Sharpe Ratio Rank: 12
CUSD Sortino Ratio Rank: 12
CUSD Omega Ratio Rank: 14
CUSD Calmar Ratio Rank: 17
CUSD Martin Ratio Rank: 17

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. CUSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ClearShares Ultra-Short Maturity ETF (OPER) and CrossingBridge Ultra-Short Duration ETF (CUSD). 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	CUSD	Difference
Sharpe ratio: Return per unit of total volatility	15.45	0.25	+15.20
Sortino ratio: Return per unit of downside risk	43.90	0.49	+43.42
Omega ratio: Gain probability vs. loss probability	13.38	1.08	+12.30
Calmar ratio: Return relative to maximum drawdown	61.29	0.64	+60.64
Martin ratio: Return relative to average drawdown	519.55	1.69	+517.86
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. CUSD - Sharpe Ratio Comparison

The current OPER Sharpe Ratio is 15.45, which is higher than the CUSD Sharpe Ratio of 0.25. The chart below compares the historical Sharpe Ratios of OPER and CUSD, 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	CUSD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	15.45	0.25	+15.20
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	0.65	+1.63

Drawdowns

OPER vs. CUSD - Drawdown Comparison

The maximum OPER drawdown since its inception was -2.33%, smaller than the maximum CUSD drawdown of -5.42%. Use the drawdown chart below to compare losses from any high point for OPER and CUSD.

Drawdown Indicators

	OPER	CUSD	Difference
Max Drawdown Largest peak-to-trough decline	-2.33%	-5.42%	+3.09%
Max Drawdown (1Y) Largest decline over 1 year	-0.07%	-5.42%	+5.35%
Max Drawdown (3Y) Largest decline over 3 years	-0.11%	-5.42%	+5.31%
Max Drawdown (5Y) Largest decline over 5 years	-0.13%	—	—
Current Drawdown Current decline from peak	0.00%	-2.75%	+2.75%
Average Drawdown Average peak-to-trough decline	-0.16%	-0.46%	+0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	2.06%	-2.05%

Volatility

OPER vs. CUSD - Volatility Comparison

The current volatility for ClearShares Ultra-Short Maturity ETF (OPER) is 0.10%, while CrossingBridge Ultra-Short Duration ETF (CUSD) has a volatility of 4.38%. This indicates that OPER experiences smaller price fluctuations and is considered to be less risky than CUSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OPER	CUSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.10%	4.38%	-4.28%
Volatility (6M) Calculated over the trailing 6-month period	0.20%	10.95%	-10.75%
Volatility (1Y) Calculated over the trailing 1-year period	0.26%	13.67%	-13.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.32%	7.03%	-6.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.23%	7.03%	-5.80%

OPER vs. CUSD - Expense Ratio Comparison

OPER has a 0.20% expense ratio, which is lower than CUSD's 0.81% expense ratio.

Dividends

OPER vs. CUSD - Dividend Comparison

OPER's dividend yield for the trailing twelve months is around 4.09%, less than CUSD's 13.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CUSD CrossingBridge Ultra-Short Duration ETF	13.85%	14.05%	7.10%	3.62%	1.14%	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 CUSD in my portfolio?

OPER and CUSD have a correlation of -0.07, 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 CUSD?

CUSD has higher volatility (4.38%) compared to OPER (0.10%). In terms of maximum drawdown, OPER dropped -2.33% vs CUSD's -5.42%.

Which ETF is better, OPER or CUSD?

On 3-year performance, OPER leads with 4.80% vs 4.69% for CUSD. On fees, OPER is cheaper at 0.20% 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 CUSD?

Over the 3-year period, OPER has performed better with a 4.80% return vs 4.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OPER or CUSD?

OPER is cheaper with a 0.20% expense ratio, compared with 0.81% for CUSD.

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

CUSD has the higher dividend yield at 13.85%, compared with 4.09% for OPER.

What is the main difference between OPER and CUSD?

They also come from different issuers: ClearShares and CrossingBridge. Their fees differ too: 0.20% for OPER and 0.81% for CUSD.

Which has better risk-adjusted returns?

OPER currently has the higher Sharpe Ratio (15.45 vs 0.25), 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.