PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
TRBUX vs. TVAL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TRBUX vs. TVAL

Last updated Jun 4, 2026

TRBUX (T. Rowe Price Ultra Short-Term Bond Fund) and TVAL (T. Rowe Price Value ETF) are both funds - TRBUX is a Ultrashort Bond fund managed by T. Rowe Price, while TVAL is a Large Cap Value Equities fund actively managed by T. Rowe Price. Over the past year, TRBUX returned 6.43% vs 28.49% for TVAL. At a 0.06 correlation, their price movements are largely independent. TRBUX charges 0.31%/yr vs 0.33%/yr for TVAL.

Performance

TRBUX vs. TVAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) and T. Rowe Price Value ETF (TVAL). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, TRBUX achieves a 1.59% return, which is significantly lower than TVAL's 15.42% return.

TRBUX

1D
0.00%
1M
0.56%
YTD
1.59%
6M
2.58%
1Y
6.43%
3Y*
6.82%
5Y*
4.32%
10Y*
3.31%

TVAL

1D
-0.05%
1M
3.86%
YTD
15.42%
6M
16.79%
1Y
28.49%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

TRBUX vs. TVAL - Yearly Performance Comparison

2026 (YTD)202520242023
TRBUX
T. Rowe Price Ultra Short-Term Bond Fund		1.59%6.88%7.88%3.85%
TVAL
T. Rowe Price Value ETF		15.42%15.59%14.54%8.28%

Correlation

The correlation between TRBUX and TVAL is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.14

Correlation (All Time)
Calculated using the full available price history since Jun 16, 2023

0.06

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

T. Rowe Price Ultra Short-Term Bond Fund

T. Rowe Price Value ETF

Often compared with TRBUX:
TRBUX vs. SGOVTRBUX vs. PRCOXTRBUX vs. RPIFXTRBUX vs. VTAPXTRBUX vs. BIAFXTRBUX vs. PIAMXTRBUX vs. GQETX
Often compared with TVAL:
TVAL vs. TEQITVAL vs. PRDGXTVAL vs. VTVTVAL vs. CGDVTVAL vs. TDVGTVAL vs. AVLVTVAL vs. VOO

Return for Risk

TRBUX vs. TVAL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TRBUX
TRBUX Risk / Return Rank: 9999
Overall Rank
TRBUX Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
TRBUX Sortino Ratio Rank: 9999
Sortino Ratio Rank
TRBUX Omega Ratio Rank: 9999
Omega Ratio Rank
TRBUX Calmar Ratio Rank: 9999
Calmar Ratio Rank
TRBUX Martin Ratio Rank: 9999
Martin Ratio Rank
TVAL
TVAL Risk / Return Rank: 8282
Overall Rank
TVAL Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
TVAL Sortino Ratio Rank: 8484
Sortino Ratio Rank
TVAL Omega Ratio Rank: 8181
Omega Ratio Rank
TVAL Calmar Ratio Rank: 7878
Calmar Ratio Rank
TVAL Martin Ratio Rank: 8383
Martin Ratio Rank
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.

TRBUX vs. TVAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) and T. Rowe Price Value ETF (TVAL). 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.

TRBUXTVALDifference
Sharpe ratioReturn per unit of total volatility
3.90
2.69

+1.21

Sortino ratioReturn per unit of downside risk
10.21
3.78

+6.43

Omega ratioGain probability vs. loss probability

4.18

1.49

+2.69

Calmar ratioReturn relative to maximum drawdown

16.93

4.00

+12.93

Martin ratioReturn relative to average drawdown

65.96

16.80

+49.16

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRBUX vs. TVAL - Sharpe Ratio Comparison

The current TRBUX Sharpe Ratio is 3.90, which is higher than the TVAL Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of TRBUX and TVAL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

TRBUXTVALDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.90

2.69

+1.21

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

2.60

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

2.21

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.96

1.48

+0.48

Drawdowns

TRBUX vs. TVAL - Drawdown Comparison

The maximum TRBUX drawdown since its inception was -4.15%, smaller than the maximum TVAL drawdown of -14.84%. Use the drawdown chart below to compare losses from any high point for TRBUX and TVAL.

Loading charts...

Drawdown Indicators

TRBUXTVALDifference

Max Drawdown

Largest peak-to-trough decline

-4.15%

-14.84%

+10.69%

Max Drawdown (1Y)

Largest decline over 1 year

-0.39%

-7.15%

+6.76%

Max Drawdown (3Y)

Largest decline over 3 years

-0.78%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-2.68%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-4.15%

—

—

Current Drawdown

Current decline from peak

0.00%

-0.39%

+0.39%

Average Drawdown

Average peak-to-trough decline

-0.21%

-2.06%

+1.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.10%

1.70%

-1.60%

Volatility

TRBUX vs. TVAL - Volatility Comparison

The current volatility for T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) is 0.68%, while T. Rowe Price Value ETF (TVAL) has a volatility of 3.18%. This indicates that TRBUX experiences smaller price fluctuations and is considered to be less risky than TVAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

TRBUXTVALDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.68%

3.18%

-2.50%

Volatility (6M)

Calculated over the trailing 6-month period

1.18%

8.22%

-7.04%

Volatility (1Y)

Calculated over the trailing 1-year period

1.71%

10.65%

-8.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.68%

12.59%

-10.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.50%

12.59%

-11.09%

TRBUX vs. TVAL - Expense Ratio Comparison

TRBUX has a 0.31% expense ratio, which is lower than TVAL's 0.33% expense ratio.

Dividends

TRBUX vs. TVAL - Dividend Comparison

TRBUX's dividend yield for the trailing twelve months is around 6.03%, more than TVAL's 1.00% yield.

PositionTTM20252024202320222021202020192018201720162015
TRBUX
T. Rowe Price Ultra Short-Term Bond Fund		6.03%6.23%6.36%4.48%1.53%1.21%1.86%2.73%2.47%1.62%1.18%0.81%
TVAL
T. Rowe Price Value ETF		1.00%1.15%1.16%0.64%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

TRBUX and TVAL have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TVAL has higher volatility (3.18%) compared to TRBUX (0.68%). In terms of maximum drawdown, TRBUX dropped -4.15% vs TVAL's -14.84%.

TRBUX currently has the higher Sharpe Ratio (3.90 vs 2.69), 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.

Portfolio Optimizer

Find the right allocation for TRBUX and TVAL

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer