ULST vs. VUSB
ULST (State Street Ultra Short Term Bond ETF) and VUSB (Vanguard Ultra-Short Bond ETF) are both Ultrashort Bond funds. ULST is passively managed, while VUSB is actively managed. Over the past 5 years, ULST returned 3.51%/yr vs 3.43%/yr for VUSB. At a 0.44 correlation, their price movements are largely independent. ULST charges 0.20%/yr vs 0.10%/yr for VUSB.
Performance
ULST vs. VUSB - 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 VUSB's 1.39% 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%
VUSB
- 1D
- -0.02%
- 1M
- 0.40%
- YTD
- 1.39%
- 6M
- 1.76%
- 1Y
- 4.59%
- 3Y*
- 5.34%
- 5Y*
- 3.43%
- 10Y*
- —
ULST vs. VUSB - 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% | 0.03% |
VUSB Vanguard Ultra-Short Bond ETF | 1.39% | 5.20% | 5.68% | 5.52% | -0.36% | 0.00% |
Correlation
The correlation between ULST and VUSB is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2021 | 0.44 |
The correlation between ULST and VUSB has been stable across timeframes, ranging from 0.44 to 0.54 - a consistent structural relationship.
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Return for Risk
ULST vs. VUSB — Risk / Return Rank
ULST
VUSB
ULST vs. VUSB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Ultra Short Term Bond ETF (ULST) and Vanguard Ultra-Short Bond ETF (VUSB). 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 | VUSB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 2.77 | 3.44 | -0.66 |
| Calmar ratioReturn relative to maximum drawdown | 16.92 | 12.43 | +4.48 |
| Martin ratioReturn relative to average drawdown | 87.49 | 71.97 | +15.52 |
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 | VUSB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.14 | 7.10 | -0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 3.67 | 4.14 | -0.48 |
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 | 4.09 | -2.59 |
Drawdowns
ULST vs. VUSB - Drawdown Comparison
The maximum ULST drawdown since its inception was -6.20%, which is greater than VUSB's maximum drawdown of -1.79%. Use the drawdown chart below to compare losses from any high point for ULST and VUSB.
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Drawdown Indicators
| ULST | VUSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.20% | -1.79% | -4.41% |
Max Drawdown (1Y)Largest decline over 1 year | -0.24% | -0.37% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -0.54% | -0.46% | -0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -1.22% | -1.79% | +0.57% |
Max Drawdown (10Y)Largest decline over 10 years | -6.20% | — | — |
Current DrawdownCurrent decline from peak | -0.05% | -0.02% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -0.27% | +0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.06% | -0.01% |
Volatility
ULST vs. VUSB - Volatility Comparison
State Street Ultra Short Term Bond ETF (ULST) and Vanguard Ultra-Short Bond ETF (VUSB) have volatilities of 0.18% and 0.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ULST | VUSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.18% | 0.18% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 0.43% | 0.52% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.65% | 0.65% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.96% | 0.83% | +0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.45% | 0.82% | +0.63% |
ULST vs. VUSB - Expense Ratio Comparison
ULST has a 0.20% expense ratio, which is higher than VUSB's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ULST vs. VUSB - Dividend Comparison
ULST's dividend yield for the trailing twelve months is around 4.29%, less than VUSB's 4.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VUSB Vanguard Ultra-Short Bond ETF | 4.39% | 4.63% | 5.16% | 4.45% | 1.56% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ULST and VUSB have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VUSB has higher volatility (0.18%) compared to ULST (0.18%). In terms of maximum drawdown, ULST dropped -6.20% vs VUSB's -1.79%.
On 5-year performance, ULST leads with 3.51% vs 3.43% for VUSB. On fees, VUSB is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ULST has performed better with a 3.51% return vs 3.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VUSB is cheaper with a 0.10% expense ratio, compared with 0.20% for ULST.
VUSB has the higher dividend yield at 4.39%, compared with 4.29% for ULST.
They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.20% for ULST and 0.10% for VUSB.
VUSB currently has the higher Sharpe Ratio (7.10 vs 6.14), 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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