TUSB vs. GMOC

Last updated Aug 2, 2026

TUSB (Thrivent Ultra Short Bond ETF) and GMOC (GMO Ultra-Short Income ETF) are both Ultrashort Bond funds. Both are actively managed. Their -0.06 correlation means they have often moved in opposite directions in the past. Both charge a 0.20% expense ratio.

Performance

TUSB vs. GMOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Ultra Short Bond ETF (TUSB) and GMO Ultra-Short Income ETF (GMOC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TUSB achieves a 2.58% return, which is significantly higher than GMOC's 2.28% return.

TUSB

• 1D: 0.06%
• 1M: 0.47%
• 6M: 2.07%
• YTD: 2.58%
• 1Y: 4.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.76%

GMOC

• 1D: 0.01%
• 1M: 0.26%
• 6M: 1.95%
• YTD: 2.28%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GMOC GMO Ultra-Short Income ETF	$7.34K	$24.00K	$276.45K
TUSB Thrivent Ultra Short Bond ETF	$669.76K	$810.48K	$941.31K

TUSB vs. GMOC - Yearly Performance Comparison

	2026 (YTD)	2025
TUSB Thrivent Ultra Short Bond ETF	2.58%	0.76%
GMOC GMO Ultra-Short Income ETF	2.28%	0.70%

Correlation

The correlation between TUSB and GMOC is -0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 28, 2025	-0.06

Return for Risk

TUSB vs. GMOC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TUSB

TUSB Risk / Return Rank: 99
TUSB Sharpe Ratio Rank: 98
TUSB Sortino Ratio Rank: 99
TUSB Omega Ratio Rank: 98
TUSB Calmar Ratio Rank: 99
TUSB Martin Ratio Rank: 99

GMOC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TUSB vs. GMOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Ultra Short Bond ETF (TUSB) and GMO Ultra-Short Income ETF (GMOC). 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.

	TUSB	GMOC	Difference
Sharpe ratio: Return per unit of total volatility	4.80	—	—
Sortino ratio: Return per unit of downside risk	8.41	—	—
Omega ratio: Gain probability vs. loss probability	2.15	—	—
Calmar ratio: Return relative to maximum drawdown	18.79	—	—
Martin ratio: Return relative to average drawdown	74.19	—	—

Drawdowns

TUSB vs. GMOC - Drawdown Comparison

The maximum TUSB drawdown since its inception was -0.51%, which is greater than GMOC's maximum drawdown of -0.14%. Use the drawdown chart below to compare losses from any high point for TUSB and GMOC.

Drawdown Indicators

	TUSB	GMOC	Difference
Max Drawdown Largest peak-to-trough decline	-0.51%	-0.14%	-0.37%
Max Drawdown (1Y) Largest decline over 1 year	-0.25%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.06%	-0.01%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	—	—

Volatility

Volatility by Period

	TUSB	GMOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.26%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.72%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.97%	0.53%	+0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.23%	0.53%	+0.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.23%	0.53%	+0.70%

TUSB vs. GMOC - Expense Ratio Comparison

Both TUSB and GMOC have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

TUSB vs. GMOC - Dividend Comparison

TUSB's dividend yield for the trailing twelve months is around 4.26%, more than GMOC's 2.98% yield.

Position	TTM	2025
GMOC GMO Ultra-Short Income ETF	2.98%	0.84%
TUSB Thrivent Ultra Short Bond ETF	4.26%	3.62%

Frequently Asked Questions

Can I hold both TUSB and GMOC in my portfolio?

TUSB and GMOC have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TUSB or GMOC?

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TUSB or GMOC?

TUSB and GMOC have the same expense ratio: 0.20% per year.

Which ETF pays a higher dividend yield, TUSB or GMOC?

TUSB has the higher dividend yield at 4.26%, compared with 2.98% for GMOC.

What is the main difference between TUSB and GMOC?

They also come from different issuers: Thrivent and GMO.