UGSDX vs. SQIFX

Last updated Apr 2, 2026

Compare and contrast key facts about U.S. Global Investors U.S. Government Ultra-Short Bond Fund (UGSDX) and Sit Quality Income Fund (SQIFX).

UGSDX is managed by US Global. It was launched on Dec 2, 2013. SQIFX is managed by Sit. It was launched on Dec 31, 2012.

Performance

UGSDX vs. SQIFX - 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 Sit Quality Income Fund (SQIFX). The values are adjusted to include any dividend payments, if applicable.

UGSDX vs. SQIFX - 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	0.53%	3.93%	4.31%	4.15%	-1.66%	-0.44%	0.32%	1.49%	1.18%	1.49%
SQIFX Sit Quality Income Fund	0.16%	6.32%	3.93%	3.39%	-2.68%	1.24%	2.89%	3.13%	0.90%	1.16%

Returns By Period

In the year-to-date period, UGSDX achieves a 0.53% return, which is significantly higher than SQIFX's 0.16% return. Over the past 10 years, UGSDX has underperformed SQIFX with an annualized return of 1.50%, while SQIFX has yielded a comparatively higher 2.08% annualized return.

UGSDX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.53%
• 6M: 1.42%
• 1Y: 3.41%
• 3Y*: 3.87%
• 5Y*: 2.14%
• 10Y*: 1.50%

SQIFX

• 1D: 0.10%
• 1M: -0.83%
• YTD: 0.16%
• 6M: 1.10%
• 1Y: 3.94%
• 3Y*: 4.18%
• 5Y*: 2.35%
• 10Y*: 2.08%

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

UGSDX vs. SQIFX - Expense Ratio Comparison

UGSDX has a 1.06% expense ratio, which is higher than SQIFX's 0.90% expense ratio.

UGSDX

U.S. Global Investors U.S. Government Ultra-Short Bond Fund

SQIFX

Sit Quality Income Fund

Return for Risk

UGSDX vs. SQIFX — Risk / Return Rank

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

SQIFX

SQIFX Risk / Return Rank: 87
SQIFX Sharpe Ratio Rank: 84
SQIFX Sortino Ratio Rank: 91
SQIFX Omega Ratio Rank: 80
SQIFX Calmar Ratio Rank: 92
SQIFX Martin Ratio Rank: 89

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. SQIFX - 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 Sit Quality Income Fund (SQIFX). 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	SQIFX	Difference
Sharpe ratio Return per unit of total volatility	3.44	1.70	+1.73
Sortino ratio Return per unit of downside risk	—	2.73	—
Omega ratio Gain probability vs. loss probability	—	1.34	—
Calmar ratio Return relative to maximum drawdown	—	2.93	—
Martin ratio Return relative to average drawdown	—	10.48	—
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. SQIFX - Sharpe Ratio Comparison

The current UGSDX Sharpe Ratio is 3.44, which is higher than the SQIFX Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of UGSDX and SQIFX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	UGSDX	SQIFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.44	1.70	+1.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.20	1.03	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.97	1.18	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	1.05	-0.32

Correlation

The correlation between UGSDX and SQIFX is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

UGSDX vs. SQIFX - Dividend Comparison

UGSDX's dividend yield for the trailing twelve months is around 3.35%, less than SQIFX's 3.86% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UGSDX U.S. Global Investors U.S. Government Ultra-Short Bond Fund	3.35%	3.85%	4.23%	3.55%	0.87%	0.06%	0.32%	1.48%	1.17%	1.48%	0.44%	0.44%
SQIFX Sit Quality Income Fund	3.86%	4.21%	3.96%	2.78%	3.42%	1.23%	1.13%	1.95%	1.82%	1.16%	0.89%	0.95%

Drawdowns

UGSDX vs. SQIFX - Drawdown Comparison

The maximum UGSDX drawdown since its inception was -2.83%, smaller than the maximum SQIFX drawdown of -4.22%. Use the drawdown chart below to compare losses from any high point for UGSDX and SQIFX.

Drawdown Indicators

	UGSDX	SQIFX	Difference
Max Drawdown Largest peak-to-trough decline	-2.83%	-4.22%	+1.39%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-1.55%	+1.55%
Max Drawdown (5Y) Largest decline over 5 years	-2.83%	-4.22%	+1.39%
Max Drawdown (10Y) Largest decline over 10 years	-2.83%	-4.22%	+1.39%
Current Drawdown Current decline from peak	0.00%	-1.03%	+1.03%
Average Drawdown Average peak-to-trough decline	-0.30%	-0.45%	+0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.43%	-0.43%

Volatility

UGSDX vs. SQIFX - Volatility Comparison

The current volatility for U.S. Global Investors U.S. Government Ultra-Short Bond Fund (UGSDX) is 0.00%, while Sit Quality Income Fund (SQIFX) has a volatility of 0.81%. This indicates that UGSDX experiences smaller price fluctuations and is considered to be less risky than SQIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UGSDX	SQIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	0.81%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	0.69%	1.54%	-0.85%
Volatility (1Y) Calculated over the trailing 1-year period	1.05%	2.47%	-1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.78%	2.29%	-0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.55%	1.77%	-0.22%