ULST vs. CUSD
ULST (State Street Ultra Short Term Bond ETF) and CUSD (CrossingBridge Ultra-Short Duration ETF) are both Ultrashort Bond funds. ULST is passively managed, while CUSD is actively managed. Over the past 3 years, ULST returned 4.92%/yr vs 4.69%/yr for CUSD. At a 0.05 correlation, their price movements are largely independent. ULST charges 0.20%/yr vs 0.81%/yr for CUSD.
Performance
ULST vs. CUSD - Performance Comparison
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Returns By Period
In the year-to-date period, ULST achieves a 1.24% return, which is significantly lower than CUSD's 1.42% return.
ULST
- 1D
- -0.02%
- 1M
- 0.33%
- YTD
- 1.24%
- 6M
- 1.57%
- 1Y
- 3.99%
- 3Y*
- 4.92%
- 5Y*
- 3.51%
- 10Y*
- 2.67%
CUSD
- 1D
- -0.13%
- 1M
- -0.39%
- YTD
- 1.42%
- 6M
- 0.90%
- 1Y
- 3.46%
- 3Y*
- 4.69%
- 5Y*
- —
- 10Y*
- —
ULST vs. CUSD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ULST State Street Ultra Short Term Bond ETF | 1.24% | 4.80% | 5.23% | 5.60% | 0.87% | -0.19% |
CUSD CrossingBridge Ultra-Short Duration ETF | 1.42% | 5.02% | 4.57% | 6.05% | 2.03% | 2.40% |
Correlation
The correlation between ULST and CUSD is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021 | 0.05 |
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Return for Risk
ULST vs. CUSD — Risk / Return Rank
ULST
CUSD
ULST vs. CUSD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Ultra Short Term Bond ETF (ULST) and CrossingBridge Ultra-Short Duration ETF (CUSD). 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.
| ULST | CUSD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.88 | ||
| Sortino ratioReturn per unit of downside risk | +11.81 | ||
| Omega ratioGain probability vs. loss probability | 2.77 | 1.08 | +1.70 |
| Calmar ratioReturn relative to maximum drawdown | 16.92 | 0.64 | +16.27 |
| Martin ratioReturn relative to average drawdown | 87.49 | 1.69 | +85.80 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ULST | CUSD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.14 | 0.25 | +5.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 3.67 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.86 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.50 | 0.65 | +0.84 |
Drawdowns
ULST vs. CUSD - Drawdown Comparison
The maximum ULST drawdown since its inception was -6.20%, which is greater than CUSD's maximum drawdown of -5.42%. Use the drawdown chart below to compare losses from any high point for ULST and CUSD.
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Drawdown Indicators
| ULST | CUSD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.20% | -5.42% | -0.78% |
Max Drawdown (1Y)Largest decline over 1 year | -0.24% | -5.42% | +5.18% |
Max Drawdown (3Y)Largest decline over 3 years | -0.54% | -5.42% | +4.88% |
Max Drawdown (5Y)Largest decline over 5 years | -1.22% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -6.20% | — | — |
Current DrawdownCurrent decline from peak | -0.05% | -2.75% | +2.70% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -0.46% | +0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 2.06% | -2.01% |
Volatility
ULST vs. CUSD - Volatility Comparison
The current volatility for State Street Ultra Short Term Bond ETF (ULST) is 0.18%, while CrossingBridge Ultra-Short Duration ETF (CUSD) has a volatility of 4.38%. This indicates that ULST experiences smaller price fluctuations and is considered to be less risky than CUSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ULST | CUSD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.18% | 4.38% | -4.20% |
Volatility (6M)Calculated over the trailing 6-month period | 0.43% | 10.95% | -10.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.65% | 13.67% | -13.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.96% | 7.03% | -6.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.45% | 7.03% | -5.58% |
ULST vs. CUSD - Expense Ratio Comparison
ULST has a 0.20% expense ratio, which is lower than CUSD's 0.81% expense ratio.
Dividends
ULST vs. CUSD - Dividend Comparison
ULST's dividend yield for the trailing twelve months is around 4.29%, less than CUSD's 13.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CUSD CrossingBridge Ultra-Short Duration ETF | 13.85% | 14.05% | 7.10% | 3.62% | 1.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ULST State Street Ultra Short Term Bond ETF | 4.29% | 4.46% | 5.03% | 4.45% | 1.70% | 0.54% | 1.34% | 2.56% | 2.13% | 1.21% | 0.93% | 0.37% |
Frequently Asked Questions
ULST and CUSD 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.
CUSD has higher volatility (4.38%) compared to ULST (0.18%). In terms of maximum drawdown, ULST dropped -6.20% vs CUSD's -5.42%.
On 3-year performance, ULST leads with 4.92% vs 4.69% for CUSD. On fees, ULST is cheaper at 0.20% per year. On volatility, ULST has been the lower-risk option at 0.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ULST has performed better with a 4.92% return vs 4.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ULST is cheaper with a 0.20% expense ratio, compared with 0.81% for CUSD.
CUSD has the higher dividend yield at 13.85%, compared with 4.29% for ULST.
They also come from different issuers: State Street and CrossingBridge. Their fees differ too: 0.20% for ULST and 0.81% for CUSD.
ULST currently has the higher Sharpe Ratio (6.14 vs 0.25), 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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