TBUX vs. NEAR
TBUX (T. Rowe Price Ultra Short-Term Bond ETF) and NEAR (iShares Short Duration Bond Active ETF) are both exchange-traded funds - TBUX is a Ultrashort Bond fund actively managed by T. Rowe Price, while NEAR is a Short-Term Bond fund actively managed by iShares. Both are actively managed. Over the past 3 years, TBUX returned 5.83%/yr vs 5.52%/yr for NEAR. At a 0.45 correlation, their price movements are largely independent. TBUX charges 0.17%/yr vs 0.25%/yr for NEAR.
Performance
TBUX vs. NEAR - Performance Comparison
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Returns By Period
In the year-to-date period, TBUX achieves a 1.83% return, which is significantly higher than NEAR's 0.73% return.
TBUX
- 1D
- 0.04%
- 1M
- 0.31%
- YTD
- 1.83%
- 6M
- 2.00%
- 1Y
- 4.62%
- 3Y*
- 5.83%
- 5Y*
- —
- 10Y*
- —
NEAR
- 1D
- 0.10%
- 1M
- 0.21%
- YTD
- 0.73%
- 6M
- 0.96%
- 1Y
- 3.76%
- 3Y*
- 5.52%
- 5Y*
- 3.86%
- 10Y*
- 2.85%
TBUX vs. NEAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TBUX T. Rowe Price Ultra Short-Term Bond ETF | 1.83% | 5.37% | 6.38% | 6.39% | -0.13% | -0.25% |
NEAR iShares Short Duration Bond Active ETF | 0.73% | 5.90% | 5.09% | 7.42% | 0.41% | -0.16% |
Correlation
The correlation between TBUX and NEAR is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021 | 0.45 |
The correlation between TBUX and NEAR shifts across timeframes, from 0.44 (3 years) to 0.54 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TBUX vs. NEAR — Risk / Return Rank
TBUX
NEAR
TBUX vs. NEAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Ultra Short-Term Bond ETF (TBUX) and iShares Short Duration Bond Active ETF (NEAR). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TBUX | NEAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.17 | ||
| Sortino ratioReturn per unit of downside risk | +9.25 | ||
| Omega ratioGain probability vs. loss probability | 2.96 | 1.55 | +1.41 |
| Calmar ratioReturn relative to maximum drawdown | 46.27 | 3.33 | +42.94 |
| Martin ratioReturn relative to average drawdown | 169.36 | 15.13 | +154.23 |
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Drawdowns
TBUX vs. NEAR - Drawdown Comparison
The maximum TBUX drawdown since its inception was -1.82%, smaller than the maximum NEAR drawdown of -9.61%. Use the drawdown chart below to compare losses from any high point for TBUX and NEAR.
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Drawdown Indicators
| TBUX | NEAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.82% | -9.61% | +7.79% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -1.13% | +1.03% |
Max Drawdown (3Y)Largest decline over 3 years | -0.33% | -1.16% | +0.83% |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.32% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -9.61% | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.14% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -0.28% | -0.16% | -0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.25% | -0.22% |
Volatility
TBUX vs. NEAR - Volatility Comparison
The current volatility for T. Rowe Price Ultra Short-Term Bond ETF (TBUX) is 0.24%, while iShares Short Duration Bond Active ETF (NEAR) has a volatility of 0.49%. This indicates that TBUX experiences smaller price fluctuations and is considered to be less risky than NEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TBUX | NEAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.24% | 0.49% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 0.48% | 1.06% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.67% | 1.39% | -0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.06% | 1.35% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.06% | 2.50% | -1.44% |
TBUX vs. NEAR - Expense Ratio Comparison
TBUX has a 0.17% expense ratio, which is lower than NEAR's 0.25% 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
TBUX vs. NEAR - Dividend Comparison
TBUX's dividend yield for the trailing twelve months is around 4.48%, which matches NEAR's 4.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NEAR iShares Short Duration Bond Active ETF | 4.44% | 4.54% | 5.00% | 4.59% | 1.78% | 0.76% | 1.53% | 2.69% | 2.25% | 1.52% | 1.07% | 0.85% |
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
TBUX and NEAR have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NEAR has higher volatility (0.49%) compared to TBUX (0.24%). In terms of maximum drawdown, TBUX dropped -1.82% vs NEAR's -9.61%.
On 3-year performance, TBUX leads with 5.83% vs 5.52% for NEAR. On fees, TBUX is cheaper at 0.17% per year. On volatility, TBUX has been the lower-risk option at 0.24%. 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 5.83% return vs 5.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TBUX is cheaper with a 0.17% expense ratio, compared with 0.25% for NEAR.
TBUX has the higher dividend yield at 4.48%, compared with 4.44% for NEAR.
TBUX is categorized as Ultrashort Bond, while NEAR is Short-Term Bond. They also come from different issuers: T. Rowe Price and iShares. Their fees differ too: 0.17% for TBUX and 0.25% for NEAR.
TBUX currently has the higher Sharpe Ratio (6.90 vs 2.73), 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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