TOTL vs. USTB
TOTL (State Street DoubleLine Total Return Tactical ETF) and USTB (VictoryShares Short-Term Bond ETF) are both exchange-traded funds - TOTL is a Intermediate Core-Plus Bond fund actively managed by State Street, while USTB is a Short-Term Bond fund tracking the Bloomberg 1–3 Year Credit Index. TOTL is actively managed, while USTB is passively managed. Over the past 5 years, TOTL returned 0.58%/yr vs 3.51%/yr for USTB. A 0.58 correlation means they provide meaningful diversification when combined. TOTL charges 0.55%/yr vs 0.34%/yr for USTB.
Performance
TOTL vs. USTB - Performance Comparison
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Returns By Period
In the year-to-date period, TOTL achieves a -0.54% return, which is significantly lower than USTB's 1.32% return.
TOTL
- 1D
- -0.15%
- 1M
- 0.18%
- YTD
- -0.54%
- 6M
- -0.42%
- 1Y
- 3.57%
- 3Y*
- 4.13%
- 5Y*
- 0.58%
- 10Y*
- 1.57%
USTB
- 1D
- 0.08%
- 1M
- 0.36%
- YTD
- 1.32%
- 6M
- 1.52%
- 1Y
- 4.34%
- 3Y*
- 6.13%
- 5Y*
- 3.51%
- 10Y*
- —
TOTL vs. USTB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TOTL State Street DoubleLine Total Return Tactical ETF | -0.54% | 7.68% | 3.15% | 5.55% | -11.59% | -1.00% | 3.56% | 6.93% | 0.76% | -0.04% |
USTB VictoryShares Short-Term Bond ETF | 1.32% | 6.08% | 6.49% | 6.69% | -2.82% | 0.90% | 5.12% | 5.10% | 1.08% | 0.35% |
Correlation
The correlation between TOTL and USTB is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017 | 0.58 |
Over the past year, TOTL and USTB have become more correlated (0.80) than their long-term average of 0.58, meaning their price movements have been converging.
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Return for Risk
TOTL vs. USTB — Risk / Return Rank
TOTL
USTB
TOTL vs. USTB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street DoubleLine Total Return Tactical ETF (TOTL) and VictoryShares Short-Term Bond ETF (USTB). 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.
| TOTL | USTB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.51 | ||
| Sortino ratioReturn per unit of downside risk | -4.29 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.78 | -0.59 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 5.16 | -3.98 |
| Martin ratioReturn relative to average drawdown | 3.30 | 23.33 | -20.04 |
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Drawdowns
TOTL vs. USTB - Drawdown Comparison
The maximum TOTL drawdown since its inception was -16.48%, which is greater than USTB's maximum drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for TOTL and USTB.
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Drawdown Indicators
| TOTL | USTB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.48% | -5.32% | -11.16% |
Max Drawdown (1Y)Largest decline over 1 year | -3.04% | -0.84% | -2.20% |
Max Drawdown (3Y)Largest decline over 3 years | -6.60% | -1.02% | -5.58% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -4.96% | -11.52% |
Max Drawdown (10Y)Largest decline over 10 years | -16.48% | — | — |
Current DrawdownCurrent decline from peak | -2.16% | -0.14% | -2.02% |
Average DrawdownAverage peak-to-trough decline | -3.12% | -0.65% | -2.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 0.19% | +0.90% |
Volatility
TOTL vs. USTB - Volatility Comparison
State Street DoubleLine Total Return Tactical ETF (TOTL) has a higher volatility of 1.12% compared to VictoryShares Short-Term Bond ETF (USTB) at 0.43%. This indicates that TOTL's price experiences larger fluctuations and is considered to be riskier than USTB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TOTL | USTB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 0.43% | +0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 0.90% | +1.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.45% | 1.23% | +2.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.60% | 2.02% | +3.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.79% | 2.00% | +2.79% |
TOTL vs. USTB - Expense Ratio Comparison
TOTL has a 0.55% expense ratio, which is higher than USTB's 0.34% expense ratio.
Dividends
TOTL vs. USTB - Dividend Comparison
TOTL's dividend yield for the trailing twelve months is around 5.30%, more than USTB's 4.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TOTL State Street DoubleLine Total Return Tactical ETF | 5.30% | 5.23% | 5.35% | 4.85% | 4.68% | 3.07% | 2.91% | 3.31% | 3.41% | 3.00% | 3.25% | 2.67% |
USTB VictoryShares Short-Term Bond ETF | 4.57% | 4.62% | 5.05% | 4.49% | 2.54% | 1.84% | 2.59% | 2.69% | 2.32% | 0.43% | 0.00% | 0.00% |
Frequently Asked Questions
TOTL and USTB have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TOTL has higher volatility (1.12%) compared to USTB (0.43%). In terms of maximum drawdown, TOTL dropped -16.48% vs USTB's -5.32%.
On 5-year performance, USTB leads with 3.51% vs 0.58% for TOTL. On fees, USTB is cheaper at 0.34% per year. On volatility, USTB has been the lower-risk option at 0.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USTB has performed better with a 3.51% return vs 0.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USTB is cheaper with a 0.34% expense ratio, compared with 0.55% for TOTL.
TOTL has the higher dividend yield at 5.30%, compared with 4.57% for USTB.
TOTL is categorized as Intermediate Core-Plus Bond, while USTB is Short-Term Bond. They also come from different issuers: State Street and Victory. Their fees differ too: 0.55% for TOTL and 0.34% for USTB.
USTB currently has the higher Sharpe Ratio (3.56 vs 1.04), 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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