SLQD vs. TBUX
SLQD (iShares 0-5 Year Investment Grade Corporate Bond ETF) and TBUX (T. Rowe Price Ultra Short-Term Bond ETF) are both exchange-traded funds - SLQD is a Corporate Bonds fund tracking the Markit iBoxx USD Liquid Investment Grade 0-5 Index, while TBUX is a Ultrashort Bond fund actively managed by T. Rowe Price. SLQD is passively managed, while TBUX is actively managed. Over the past 3 years, SLQD returned 5.41%/yr vs 5.85%/yr for TBUX. A 0.51 correlation means they provide meaningful diversification when combined. SLQD charges 0.06%/yr vs 0.17%/yr for TBUX.
Performance
SLQD vs. TBUX - Performance Comparison
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Returns By Period
In the year-to-date period, SLQD achieves a 0.73% return, which is significantly lower than TBUX's 1.69% return.
SLQD
- 1D
- 0.05%
- 1M
- -0.12%
- YTD
- 0.73%
- 6M
- 1.17%
- 1Y
- 4.49%
- 3Y*
- 5.41%
- 5Y*
- 2.48%
- 10Y*
- 2.63%
TBUX
- 1D
- 0.06%
- 1M
- 0.29%
- YTD
- 1.69%
- 6M
- 2.08%
- 1Y
- 4.88%
- 3Y*
- 5.85%
- 5Y*
- —
- 10Y*
- —
SLQD vs. TBUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 0.73% | 6.27% | 4.94% | 5.98% | -4.38% | -0.59% |
TBUX T. Rowe Price Ultra Short-Term Bond ETF | 1.69% | 5.37% | 6.38% | 6.39% | -0.13% | -0.22% |
Correlation
The correlation between SLQD and TBUX is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.51 |
The correlation between SLQD and TBUX has been stable across timeframes, ranging from 0.48 to 0.57 - a consistent structural relationship.
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Return for Risk
SLQD vs. TBUX — Risk / Return Rank
SLQD
TBUX
SLQD vs. TBUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) and T. Rowe Price Ultra Short-Term Bond ETF (TBUX). 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.
| SLQD | TBUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.23 | ||
| Sortino ratioReturn per unit of downside risk | -9.83 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 3.15 | -1.52 |
| Calmar ratioReturn relative to maximum drawdown | 4.25 | 48.80 | -44.56 |
| Martin ratioReturn relative to average drawdown | 19.25 | 185.24 | -166.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SLQD | TBUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.04 | 7.27 | -4.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.02 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.84 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.84 | 3.88 | -3.04 |
Drawdowns
SLQD vs. TBUX - Drawdown Comparison
The maximum SLQD drawdown since its inception was -12.69%, which is greater than TBUX's maximum drawdown of -1.79%. Use the drawdown chart below to compare losses from any high point for SLQD and TBUX.
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Drawdown Indicators
| SLQD | TBUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.69% | -1.79% | -10.90% |
Max Drawdown (1Y)Largest decline over 1 year | -1.06% | -0.10% | -0.96% |
Max Drawdown (3Y)Largest decline over 3 years | -1.06% | -0.33% | -0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -7.63% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -12.69% | — | — |
Current DrawdownCurrent decline from peak | -0.24% | -0.04% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -0.87% | -0.28% | -0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 0.03% | +0.20% |
Volatility
SLQD vs. TBUX - Volatility Comparison
iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) has a higher volatility of 0.51% compared to T. Rowe Price Ultra Short-Term Bond ETF (TBUX) at 0.22%. This indicates that SLQD's price experiences larger fluctuations and is considered to be riskier than TBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLQD | TBUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.51% | 0.22% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 1.12% | 0.46% | +0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.49% | 0.67% | +0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.44% | 1.07% | +1.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.14% | 1.07% | +2.07% |
SLQD vs. TBUX - Expense Ratio Comparison
SLQD has a 0.06% expense ratio, which is lower than TBUX's 0.17% 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
SLQD vs. TBUX - Dividend Comparison
SLQD's dividend yield for the trailing twelve months is around 4.33%, less than TBUX's 4.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 4.33% | 4.15% | 3.71% | 2.99% | 2.00% | 1.67% | 2.34% | 2.89% | 2.55% | 1.98% | 1.81% | 1.43% |
TBUX T. Rowe Price Ultra Short-Term Bond ETF | 4.48% | 4.67% | 5.39% | 4.66% | 2.58% | 0.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SLQD and TBUX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLQD has higher volatility (0.51%) compared to TBUX (0.22%). In terms of maximum drawdown, SLQD dropped -12.69% vs TBUX's -1.79%.
On 3-year performance, TBUX leads with 5.85% vs 5.41% for SLQD. On fees, SLQD is cheaper at 0.06% per year. On volatility, TBUX has been the lower-risk option at 0.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TBUX has performed better with a 5.85% return vs 5.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLQD is cheaper with a 0.06% expense ratio, compared with 0.17% for TBUX.
TBUX has the higher dividend yield at 4.48%, compared with 4.33% for SLQD.
SLQD is categorized as Corporate Bonds, while TBUX is Ultrashort Bond. They also come from different issuers: iShares and T. Rowe Price. Their fees differ too: 0.06% for SLQD and 0.17% for TBUX.
TBUX currently has the higher Sharpe Ratio (7.27 vs 3.04), 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.
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