UGSDX vs. NEARX

Last updated Jun 3, 2026

UGSDX (U.S. Global Investors U.S. Government Ultra-Short Bond Fund) and NEARX (U.S. Global Investors Near-Term Tax Free Fund) are both mutual funds - UGSDX is a Ultrashort Bond fund managed by US Global, while NEARX is a Municipal Bonds fund managed by US Global. Over the past 10 years, UGSDX returned 1.57%/yr vs 1.06%/yr for NEARX. At a 0.13 correlation, their price movements are largely independent. UGSDX charges 1.06%/yr vs 0.45%/yr for NEARX.

Performance

UGSDX vs. NEARX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Global Investors U.S. Government Ultra-Short Bond Fund (UGSDX) and U.S. Global Investors Near-Term Tax Free Fund (NEARX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UGSDX achieves a 1.32% return, which is significantly higher than NEARX's 0.56% return. Over the past 10 years, UGSDX has outperformed NEARX with an annualized return of 1.57%, while NEARX has yielded a comparatively lower 1.06% annualized return.

UGSDX

• 1D: 0.00%
• 1M: 0.25%
• YTD: 1.32%
• 6M: 1.63%
• 1Y: 3.51%
• 3Y*: 4.12%
• 5Y*: 2.30%
• 10Y*: 1.57%

NEARX

• 1D: 0.00%
• 1M: 0.22%
• YTD: 0.56%
• 6M: 0.79%
• 1Y: 2.52%
• 3Y*: 2.98%
• 5Y*: 0.76%
• 10Y*: 1.06%

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

UGSDX vs. NEARX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UGSDX U.S. Global Investors U.S. Government Ultra-Short Bond Fund	1.32%	3.93%	4.31%	4.15%	-1.66%	-0.44%	0.32%	1.49%	1.18%	1.49%
NEARX U.S. Global Investors Near-Term Tax Free Fund	0.56%	3.47%	2.19%	3.04%	-5.25%	-0.46%	2.94%	2.40%	1.58%	1.48%

Correlation

The correlation between UGSDX and NEARX is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jan 7, 2014	0.13

Return for Risk

UGSDX vs. NEARX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NEARX

NEARX Risk / Return Rank: 25
NEARX Sharpe Ratio Rank: 13
NEARX Sortino Ratio Rank: 14
NEARX Omega Ratio Rank: 57
NEARX Calmar Ratio Rank: 24
NEARX Martin Ratio Rank: 18

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.

UGSDX vs. NEARX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Global Investors U.S. Government Ultra-Short Bond Fund (UGSDX) and U.S. Global Investors Near-Term Tax Free Fund (NEARX). 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.

	UGSDX	NEARX	Difference
Sharpe ratio Return per unit of total volatility	3.60	1.01	+2.59
Sortino ratio Return per unit of downside risk	—	1.57	—
Omega ratio Gain probability vs. loss probability	—	1.42	—
Calmar ratio Return relative to maximum drawdown	—	1.88	—
Martin ratio Return relative to average drawdown	—	5.13	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UGSDX vs. NEARX - Sharpe Ratio Comparison

The current UGSDX Sharpe Ratio is 3.60, which is higher than the NEARX Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of UGSDX and NEARX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UGSDX	NEARX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.60	1.01	+2.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.29	0.30	+0.98
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.03	0.42	+0.62
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.08	+0.68

Drawdowns

UGSDX vs. NEARX - Drawdown Comparison

The maximum UGSDX drawdown since its inception was -2.83%, smaller than the maximum NEARX drawdown of -80.12%. Use the drawdown chart below to compare losses from any high point for UGSDX and NEARX.

Drawdown Indicators

	UGSDX	NEARX	Difference
Max Drawdown Largest peak-to-trough decline	-2.83%	-80.12%	+77.29%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-1.45%	+1.45%
Max Drawdown (3Y) Largest decline over 3 years	-0.51%	-1.45%	+0.94%
Max Drawdown (5Y) Largest decline over 5 years	-2.83%	-6.91%	+4.08%
Max Drawdown (10Y) Largest decline over 10 years	-2.83%	-6.91%	+4.08%
Current Drawdown Current decline from peak	0.00%	-0.77%	+0.77%
Average Drawdown Average peak-to-trough decline	-0.30%	-20.84%	+20.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.53%	-0.53%

Volatility

UGSDX vs. NEARX - Volatility Comparison

The current volatility for U.S. Global Investors U.S. Government Ultra-Short Bond Fund (UGSDX) is 0.25%, while U.S. Global Investors Near-Term Tax Free Fund (NEARX) has a volatility of 0.72%. This indicates that UGSDX experiences smaller price fluctuations and is considered to be less risky than NEARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UGSDX	NEARX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.25%	0.72%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	0.70%	1.75%	-1.05%
Volatility (1Y) Calculated over the trailing 1-year period	0.98%	2.51%	-1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.79%	2.50%	-0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.53%	2.55%	-1.02%

UGSDX vs. NEARX - Expense Ratio Comparison

UGSDX has a 1.06% expense ratio, which is higher than NEARX's 0.45% expense ratio.

Dividends

UGSDX vs. NEARX - Dividend Comparison

UGSDX's dividend yield for the trailing twelve months is around 3.45%, more than NEARX's 2.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NEARX U.S. Global Investors Near-Term Tax Free Fund	2.50%	2.45%	2.65%	2.50%	1.10%	0.88%	1.10%	1.46%	2.01%	1.47%	1.36%	1.83%
UGSDX U.S. Global Investors U.S. Government Ultra-Short Bond Fund	3.45%	3.85%	4.23%	3.55%	0.87%	0.06%	0.32%	1.48%	1.17%	1.48%	0.44%	0.44%

Frequently Asked Questions

Can I hold both UGSDX and NEARX in my portfolio?

UGSDX and NEARX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UGSDX or NEARX?

NEARX has higher volatility (0.72%) compared to UGSDX (0.25%). In terms of maximum drawdown, UGSDX dropped -2.83% vs NEARX's -80.12%.

Which has better risk-adjusted returns?

UGSDX currently has the higher Sharpe Ratio (3.60 vs 1.01), 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.