TBUX vs. RAVI
TBUX (T. Rowe Price Ultra Short-Term Bond ETF) and RAVI (FlexShares Ultra-Short Income ETF) are both Ultrashort Bond funds. Both are actively managed. Over the past 3 years, TBUX returned 5.85%/yr vs 5.21%/yr for RAVI. At a 0.36 correlation, their price movements are largely independent. TBUX charges 0.17%/yr vs 0.25%/yr for RAVI.
Performance
TBUX vs. RAVI - Performance Comparison
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Returns By Period
In the year-to-date period, TBUX achieves a 1.65% return, which is significantly higher than RAVI's 1.53% return.
TBUX
- 1D
- -0.04%
- 1M
- 0.41%
- YTD
- 1.65%
- 6M
- 2.09%
- 1Y
- 4.77%
- 3Y*
- 5.85%
- 5Y*
- —
- 10Y*
- —
RAVI
- 1D
- 0.02%
- 1M
- 0.39%
- YTD
- 1.53%
- 6M
- 1.92%
- 1Y
- 4.50%
- 3Y*
- 5.21%
- 5Y*
- 3.50%
- 10Y*
- 2.67%
TBUX vs. RAVI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TBUX T. Rowe Price Ultra Short-Term Bond ETF | 1.65% | 5.37% | 6.38% | 6.39% | -0.13% | -0.22% |
RAVI FlexShares Ultra-Short Income ETF | 1.53% | 4.98% | 5.67% | 5.55% | 0.15% | -0.30% |
Correlation
The correlation between TBUX and RAVI is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.36 |
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Return for Risk
TBUX vs. RAVI — Risk / Return Rank
TBUX
RAVI
TBUX vs. RAVI - 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 FlexShares Ultra-Short Income ETF (RAVI). 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.
| TBUX | RAVI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.89 | ||
| Sortino ratioReturn per unit of downside risk | -9.32 | ||
| Omega ratioGain probability vs. loss probability | 3.08 | 5.39 | -2.31 |
| Calmar ratioReturn relative to maximum drawdown | 39.71 | 38.66 | +1.05 |
| Martin ratioReturn relative to average drawdown | 170.19 | 225.58 | -55.39 |
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
| TBUX | RAVI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.13 | 11.02 | -3.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 2.49 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 2.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.89 | 2.03 | +1.86 |
Drawdowns
TBUX vs. RAVI - Drawdown Comparison
The maximum TBUX drawdown since its inception was -1.79%, smaller than the maximum RAVI drawdown of -3.72%. Use the drawdown chart below to compare losses from any high point for TBUX and RAVI.
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Drawdown Indicators
| TBUX | RAVI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.79% | -3.72% | +1.93% |
Max Drawdown (1Y)Largest decline over 1 year | -0.12% | -0.12% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -0.33% | -0.36% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | — | -3.28% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -3.72% | — |
Current DrawdownCurrent decline from peak | -0.04% | 0.00% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -0.28% | -0.17% | -0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.02% | +0.01% |
Volatility
TBUX vs. RAVI - Volatility Comparison
T. Rowe Price Ultra Short-Term Bond ETF (TBUX) has a higher volatility of 0.19% compared to FlexShares Ultra-Short Income ETF (RAVI) at 0.15%. This indicates that TBUX's price experiences larger fluctuations and is considered to be riskier than RAVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TBUX | RAVI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 0.15% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 0.43% | 0.30% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.67% | 0.41% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.07% | 1.41% | -0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.07% | 1.28% | -0.21% |
TBUX vs. RAVI - Expense Ratio Comparison
TBUX has a 0.17% expense ratio, which is lower than RAVI'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. RAVI - Dividend Comparison
TBUX's dividend yield for the trailing twelve months is around 4.48%, more than RAVI's 4.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
RAVI FlexShares Ultra-Short Income ETF | 4.38% | 4.59% | 5.34% | 4.55% | 1.70% | 0.90% | 1.29% | 2.53% | 2.22% | 1.28% | 0.90% |
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% |
Frequently Asked Questions
TBUX and RAVI have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TBUX has higher volatility (0.19%) compared to RAVI (0.15%). In terms of maximum drawdown, TBUX dropped -1.79% vs RAVI's -3.72%.
On 3-year performance, TBUX leads with 5.85% vs 5.21% for RAVI. On fees, TBUX is cheaper at 0.17% per year. Their volatility is very similar. 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 5.21%. 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 RAVI.
TBUX has the higher dividend yield at 4.48%, compared with 4.38% for RAVI.
They also come from different issuers: T. Rowe Price and FlexShares. Their fees differ too: 0.17% for TBUX and 0.25% for RAVI.
RAVI currently has the higher Sharpe Ratio (11.02 vs 7.13), 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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